(binned per thread starter’s request) Powerful is the Fork

i love ur analysis

EURJPY and GBPJPY 60 minute charts. Themes in these pairs previously discussed but will with hold comments and let those who are interested view and comment as wanted.

Price projection was satisfied per blue corrective swing ML. At that point bulls clearly stepped in. Orange impulse ML was drawn in projecting a potential impulse swing that would result in new highs. So why did I put in a pending sell?



Price rarely goes straight up for long. The small pink ML was quickly completed as a large WRB zoomed the ML. Not only did it zoom the ML it took out a large tail and other bullish PA to the left and also made a new low relative to the swings that can be seen. So even though price overall may go on to new highs I was playing a sell to the big gap below. I didn't get filled but seems price is well on its way. Once there then a play for the impulse swing to a new high seems promising.

EURUSD 60 minute chart
This is a zoomed in chart looking at price action up fairly close. This can be helpful to get in tune with what is happening right now regardless of what has happened a week, month longer ago. In fact one can trade using just this much information as long as you understand that stops and targets should also be based on this amount of data.

The median line in this chart is based on a corrective swing which means A to B is a corrective swing and it intends to project C to D.

Some will immediately recognizea that A to B was also an impulse swing when price was trending up and this is correct. When price took out A to the downside then A to B can became a corrective swing in the potential new down trend. No matter what there is a new impulse to the downside given that price made a new relative low when A was taken out to the downside.

So at the moment we are anticipating a corrective swing (C to D). The distance from potential C to D would make it difficult to trade C to D so I personally am not considering that for a trade but rather want to see what happens when and if price corrects to D.

Note the gray rectangles represent bearish price action and how price reacts in this areas will offer clues to what price might do. Also note the purple arrow pointing to the WRB gap that took out the bullish tail (red arrow) representing effort reversed.

UPDATE Pending Sell USDJPY 60 minute. Sell filled.
Hagopian on green fork. Blue fork with entry, SL and target shown. Price moving to target.

Great entry, TP same as this area possibly

Sell cancelled. 20 pip loss.
Thought price was going to move down to target but instead buyers stepped in. Currently testing sellers. Price is essentially ranging as shown so will wait for price to break out.

The value of median lines in trading is their ability to project price. Projections are based on pivots. At minimum a median line needs 3 pivots A B C.

Pivots A and B are easy but C can be elusive. Pivot C is important as many trades may emanate shortly after Pivot C is felt to be assured. Anyone with any experience using median lines will quickly learn that Pivot C can be elusive and trading from Pivot C can indeed be frustrating.

Nevertheless once pivot C is printed then the price projection is C to D.

Let's look at this 60 minute EURUSD chart and see how C is seen and used and how the price projection results in a decent trade based on a C to D projection.

Notice the blue corrective swing ML and that when price meets the center ML the green impulse ML is drawn. Note that at the time the green ML is first put in that it is unknown if price will indeed continue as projected or impulse as projected. Using some simple PA can help get into the trade.

The bottom chart shows the PA close up and I'll let it speak for itself.

An entry at the green arrow provides a very good SL. Target is as projected or C to D





I want to stress as I have in the past that median lines or Andrew's pitchforks are really designed to project. Some erroneously use them to find frequency based on the lines and IMHO this is very problematic and is what leads so many to throw median lines in the trash as a trading tool. I have yet to see anyone use frequency profitably. Or at least to see anyone prove it. But I'm still waiting.

USDJPY 60 minute broke the range. The blue ML is an impulse ML and it actually represents a complete swing cycle to the downside. A completed swing cycle occurs when a MLs projection is satisfied or that C to D meets the A to B projection as it did in this case. Note the zoom.

Note the pink ML is a corrective ML and it has essentially met its objective. It was drawn as a modified Schiff to show that the last swing down has exceeded the size of A to B.

Now we can follow price using the new pink ML. As price potentially moves toward the pink ML opportunities may arise. Of course price may continue to the downside. Either way the fork is indeed powerful.

GBPUSD 60 minute. Impulse MLs are particularly powerful as they often give very reasonable targets and stop losses.

The pink ML is the impulse. The blue ML is a corrective ML used to watch price. When price came to the blue ML median line it can be seen that buyers were in that area as shown by the gray rectangle.

USDJPY 60 minute
The pink corrective ML barely met it's price objective even though price did not make it to the center ML. The price objective is the price at D if price had followed C to D perfectly. Geometrically the pink ML did not complete and in this respect it is a hagopian.

The impulse blue ML has met it's price objective and sooner than the C to D projection.



We can move the pink ML up now to follow current price. Also the rectangles show how price washed the lower shelf and now that price has taken out the upper shelf a return to that area (retest) may be opportune.

GBPUSD 60 min follow-up

Winston...in case you haven't heard:

https://www.ruffnerwakelin.com/obituaries/Timothy-A-Morge?obId=17989083