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Andrews Pitchfork

  • #41
  • Nov 10, 2006 10:09am Nov 10, 2006 10:09am
Max that link you mention is by Mark McRae. He produces some fantastic training material, i have been reading and viewing his stuff since i started, i remember the first lesson i read was on pivot points, what an eye opener and have learned so much from him, there are dozens of free lessons. There is also another website, heres the link.

http://www.marksforex.com/?page_id=11

Hope that helps

Lyndon
  • #42
  • Nov 10, 2006 10:19am Nov 10, 2006 10:19am
Quote
Heres one for the euro, got it from the video, and went to some other sites for more research... lets try to break down some SR levels here... maybe we can project some targets for next week or so... Thanks.<!-- / message --><!-- attachments -->

Enoc2g

Excellent idea, heres what i think will happen next week if we dont break through the middle median tonight and that fib coupled with the upper median will bat it down again. i note that one of bollies cross through as well so i am pretty confident (maybe LOL)

One thing that i dont like the look of is that stochastic so who knows??

What do you think

Lyndon
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  • #43
  • Nov 10, 2006 10:34am Nov 10, 2006 10:34am
Quoting Lyndon001
megadave5000

APF..........?

This must be a case of TMA





TMA.........Too Many Abreviations !!!
Hello,

Sorry for the confusion! APF is short for Andrews PitchFork.

-=DAVE=-
  • #44
  • Nov 10, 2006 10:37am Nov 10, 2006 10:37am
Dave

Sorry theres no confusion, i was only joking.

APF's is absolutely fine.

My fault i was forking about LOL

Lyndon
  • #45
  • Nov 10, 2006 10:42am Nov 10, 2006 10:42am
Lyn I agree the median looks to be key for further support or price weaknes.. good observation.
  • #46
  • Nov 10, 2006 10:45am Nov 10, 2006 10:45am
I really prefer trading based on TA like this.. the news is too random i mean if it wasnt for all this news noise price normally will follow the TA we would have already seen the short side correction on eu and gbp its really just a prop now holding prices up the minute something dollar + comes out these are gonna drop like a rock, just would like to see a nice trend..
  • #47
  • Nov 10, 2006 11:00am Nov 10, 2006 11:00am
Quote
Hi everyone -

I just wanted to share something about these pitchforks. I have chart posted below that shows the EUR/USD 4-chart with a few lines added. The red lines obviously outline the current (or one of the most-current) Andrew's Pitchfork containing price quite nicely.

Since new pitchforks can develop just about all the time, you can use the yellow lines to indicate when price is not obeying the current APF (Andrew's Pitchfork). Once price strays outside of the outer median lines and breaks the yellow lines it is probably time to start looking at a different APF. This is only a guide early on in a new APF, obviously, since it should be apparent later on in a trend that price is failing to obey a well-formed channel.

Secondly, and just as importantly, you'll notice my blue line in the chart. The line is just a trendline connecting decending highs. It isn't part of the channel, in fact it runs nearly perpendicular to the median lines (depending upon your zoom setting on your chart). However, I think that is a great place to enter a long trade once you see that price has obeyed the lower median line and then resumes it advance. The same can be done in a downtrend or decending APF but instead of a trendling connecting decending highs you would drawn a trendling connecting ascending lows. This is handy since multiple trendlines can be drawn over and over as price advances and/or declines within the APF channel.

Again, this information did not originate with me, I'm just passing it along. Hope you enjoy!
<!-- / message --><!-- attachments -->

Dave, where did you get the info on the yellow lines, im not too sure about those, they seem to move away from the price action at about 30 degrees so it seems to me that they will be too far away from the price to give any timely indication, ive tried it on a number of APF and they all seem the same, it could be that i am miss reading what you are saying.

With the blue trend line, i like the way the price fell, recovered then tried to resume on its downward track. It looks like the bulls had other ideas though and by the time the price could fall again that big old mature pitch fork wouldnt let it and batted it back up.

I tell you what i did notice though, it may be just coincidence but your lower yellow line and blue trend line have formed an ascending triangle which according to Thomas Bulkowski would inicate a good chance of an upward breakout.

What do you think ???

Lyndon
  • #48
  • Nov 10, 2006 11:02am Nov 10, 2006 11:02am
Possible bounce off upper median line on usdchf pair,
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  • #49
  • Nov 10, 2006 11:13am Nov 10, 2006 11:13am
Quoting enoc2g
I really prefer trading based on TA like this.. the news is too random i mean if it wasnt for all this news noise price normally will follow the TA we would have already seen the short side correction on eu and gbp its really just a prop now holding prices up the minute something dollar + comes out these are gonna drop like a rock, just would like to see a nice trend..
Enoc

i want to be able to trade the news but its just not a priority at the moment, if i can scalp 20 pips (which is what i normally do) then i am happy for now. I also like trading like this, the only trouble is forks arnt really part of my system, they just seem to have taken over, like i may have said before i trade on price action with slow bollinger bands and a slow stochastic. I also try to trade with the trend although i do sometimes get a bit brave and trade the correction. You cannot ignore these forks though and i think my system is going to bend.

Lyndon
  • #50
  • Nov 10, 2006 11:29am Nov 10, 2006 11:29am
Enoch

Sorry mate im not sure what time frame you are on, i had a look at the pair and this is what i see on the 1hr
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  • #51
  • Nov 10, 2006 11:36am Nov 10, 2006 11:36am
4hr
  • #52
  • Nov 10, 2006 11:45am Nov 10, 2006 11:45am
Hmmm

Not sure.......

I think that 50 % FR may have something to do with it

Lyndon
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  • #53
  • Nov 10, 2006 11:53am Nov 10, 2006 11:53am
yeah what i noted is the down fork has been broken and it looks to have found some short term support and were at a previous swing zone... ;-)
  • #54
  • Nov 10, 2006 12:06pm Nov 10, 2006 12:06pm
Heres another explanation

all i am doing is throwing another stick on the fire...

Look what happens when you move 2nd pivot along a little

.....or do you think that is over extending

Lyndon
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  • #55
  • Nov 10, 2006 12:14pm Nov 10, 2006 12:14pm
no that looks like, but i have found the option in dealbook fx software for the pitch fork u just select the abc points then it draws it automatically..
  • #56
  • Nov 10, 2006 12:16pm Nov 10, 2006 12:16pm
Quote
no that looks like, but i have found

Enoch

Sorry mate is that a typo, i dont know what you mean

Lyndon
  • #57
  • Nov 10, 2006 12:20pm Nov 10, 2006 12:20pm
yes it was, i meant ur lines looked good... but based on the abc points i picked my software plotted it differently.
  • #58
  • Nov 10, 2006 12:26pm Nov 10, 2006 12:26pm
Looking forward to seeing that then

...Then i am going to knock it on the head for tonight, theres a bottle of Jagermeister in the freezer and minted lamb chops in the oven and the wife and i are going to watch all three X-Men dvds back to back.

Lyndon
  • #59
  • Nov 10, 2006 12:28pm Nov 10, 2006 12:28pm
sounds great have fun...
  • #60
  • Nov 10, 2006 12:32pm Nov 10, 2006 12:32pm
Quoting Lyndon001
APF..........?
TMA.........Too Many Abreviations !!!
GLT.......... Good Luck Trading
LOL. good one. I've had to really expand my data base of acronyms now that my daughter is in the military. WAAAAAY To many of those silly things in use there. I wonder if they have full time jobs for people to just dream them up?

Thom
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