DislikedPositive day for the DOW During the NYSE session a move from D pivot towards mR2.mR2 not reached yet. close longs above 43900 around 30 long trades during the us session alone, waiting for the WH announcement, taking it easy, done my trades for this session {image}Ignored
- Joined Mar 2007 | Status: Member | 1,591 Posts
Not much new to post from me, the only thing is that I have tighten MAs to the pair of shorter ones (Smoothed MA5 - Smoothed MA5 Shifted forward 5 creating a channel, a kind of simplifies William's alligator) Have also kept smoothed MA13 shifted 8, HL/2, some would recognise it as the one used in Alligator for angulation, I like that type of "divergence" In trendlines department, apart from the basic ones I draw Schiff Pitchfork, use it on Higher TFs and have to draw it manually with Standard Deviation set up. Andrews Pitchfork has its uses, for...
unfortunately on MT4 Andrew's Pitchford I am not able to add any more Standard Deviation lines
The idea is there to draw Schiff Pitchfork, tough with only one SD lines
On ProTimeReal I can add these additional SD lines
DOW is usually very volatile, at times explosive large moves, one has to be used to that.
- Joined Mar 2007 | Status: Member | 1,591 Posts
{quote} chart below unfortunately on MT4 Andrew's Pitchford I am not able to add any more Standard Deviation lines The idea is there to draw Schiff Pitchfork, tough with only one SD lines On ProTimeReal I can add these additional SD lines DOW is usually very volatile, at times explosive large moves, one has to be used to that. {image} {image}
Schiff Pitchfork in particular is of interest to me, as it relates to wave / market structure.
You will notice that I draw Fibs including RET and EXT at both ends, that is for convenience.
For example, long time ago with other trader we spend some time looking at the first impulsive to Which Fibs have been applied, our finding was that Dax like to terminate the move at 224, and DOW at 261 to 300 during the session, like today.
First chart MT4 with the US session candle bar M5 - top of the Fib channel also have been reached, coincided with SD3 of the pitchfork, beauty
Second chart PTR M5
Chart below as usual in readiness for tomorrow
Good trades to all!
- Joined Mar 2007 | Status: Member | 1,591 Posts
Experienced and very kind and helpful trader on another forum furnished me with indicator for MT4 which allows Schiff Pitchfork to be used together with Andrew's Pitchfork. The advantage of that indicator is that there are many additional SDs (Standard Deviation), and if the Andrew's Pitchfork is not deleted, one can switch the given chart to different TFs and the forks are displayed.
Schiff fork and Andrew's Pitchfork (constant at all TFs) in relation to FIBs(constant at all TFs) drawn on Market Structure(relevant in a particular TF) so it looks like a good marriage, but only part of the story.
DOW M1 chart - I have been using semafor indicator for years, it is an easy at a single glance at the chart as to where draw Fibs, which assist in drawing trend lines and forks too
The different appearance and uses of the Andrew's Pitchfork and Schiff Pitchfork is clearly displayed, as that Schiff indicator still allows for Andrew's Pitchfork to stay displayed on DOW M1 on MT4
DT chart DOW daily with two Pitchforks displayed
DOW has been in such a strong Bull trend that the beginning of that trend demands much higher TFs than Daily, so I have opted for areas of Market structure displaying the running (continuation) of that Bull trend.
DOW has a low volatility day so far. Possible inside NYSE session candle bar in place, as even the gap to the last session close has not been filled (partially filled so far)
DOW just have closed the gap to the last session close (around 150 points span from the session L to the session H)
DT H4 Schiff Pitchford Modified
I am done for the week.
Schiff fork and Andrew's Pitchfork (constant at all TFs) in relation to FIBs(constant at all TFs) drawn on Market Structure(relevant in a particular TF) so it looks like a good marriage, but only part of the story.
DOW M1 chart - I have been using semafor indicator for years, it is an easy at a single glance at the chart as to where draw Fibs, which assist in drawing trend lines and forks too
The different appearance and uses of the Andrew's Pitchfork and Schiff Pitchfork is clearly displayed, as that Schiff indicator still allows for Andrew's Pitchfork to stay displayed on DOW M1 on MT4
DT chart DOW daily with two Pitchforks displayed
DOW has been in such a strong Bull trend that the beginning of that trend demands much higher TFs than Daily, so I have opted for areas of Market structure displaying the running (continuation) of that Bull trend.
DOW has a low volatility day so far. Possible inside NYSE session candle bar in place, as even the gap to the last session close has not been filled (partially filled so far)
DOW just have closed the gap to the last session close (around 150 points span from the session L to the session H)
DT H4 Schiff Pitchford Modified
I am done for the week.
- Joined Mar 2007 | Status: Member | 1,591 Posts
DOW M1 - M5 with the channel created by the pair of the two MA5 trendlines arranged as described in somewhere in the earlier post
DOW Daily DT chart with different Pitchforks
well over 30 trades today during the us session alone and early finish, traded intermittently with big breaks
Trading only one instrument I have these charts in my head even away from the monitors
I am able to get this breaks at times when I cannot discern a clear PA (combination of the current price to the Pitchfork SDs lines and the Fib channels on M1 or higher TF and play of semafor and stochastics, explained long time ago
Staying with charts assist in working up possible moves and taking advantage in accordance with the PA
Good trades to all!!!
DOW Daily DT chart with different Pitchforks
well over 30 trades today during the us session alone and early finish, traded intermittently with big breaks
Trading only one instrument I have these charts in my head even away from the monitors
I am able to get this breaks at times when I cannot discern a clear PA (combination of the current price to the Pitchfork SDs lines and the Fib channels on M1 or higher TF and play of semafor and stochastics, explained long time ago
Staying with charts assist in working up possible moves and taking advantage in accordance with the PA
Good trades to all!!!
- Joined Mar 2007 | Status: Member | 1,591 Posts
DOW has has a busy session
FMOC and Earning Season very much in play
traded both ways - good results but several trades were loses - over all very positive day
FMOC and Earning Season very much in play
traded both ways - good results but several trades were loses - over all very positive day
- Joined Mar 2007 | Status: Member | 1,591 Posts
Pump and dump well in progress before the US open, will be interesting what SM will do.
The beauty of the session candle bars and the last session close zone
M30 came well into play, M15, M5 and M1 likewise
Never too early to take profits!!!
DOW MTF
DOW H1 DT with Schiff Pitchfork
DOW Daily on DT, possible rotation - Fibs drawn
a loud chart with some stuff not too easy to explain
Two types of pitchforks - a kind of organised trendlines ( do your own study on Pitchforks, might prove worthy)
remember earning season and stats for Januaries for the last 20years
Shall be on Pap duties later on today
The beauty of the session candle bars and the last session close zone
M30 came well into play, M15, M5 and M1 likewise
Never too early to take profits!!!
DOW MTF
DOW H1 DT with Schiff Pitchfork
DOW Daily on DT, possible rotation - Fibs drawn
a loud chart with some stuff not too easy to explain
Two types of pitchforks - a kind of organised trendlines ( do your own study on Pitchforks, might prove worthy)
Shall be on Pap duties later on today
- Joined Mar 2007 | Status: Member | 1,591 Posts
close shorts at 45055
188 points on the posted positions, have gone with other positions I have not posted, so will only mentioned here, as the overall it became a large position, so closed it with good profits
+188 points on these DOW Mar 25
The reasons I have covered these shorts was that S&P and NASDAQ has not been in agreement with the DOW, gaps has been closed and D Pivot was in close proximity
Also trading DOW cash
Have put several trades before the session, and 40 minutes into the session - being Friday - I am tempted to take it easy from now
got good points on both, DOW MAR 25 and DOW cash
Late edit:
10 trades on cash since the open today
15 trades on DOW MAR25
Flat now.
Have lost focus but not bias - at times it can be dangerous for me
I wish to trade what I see, and with limited focus I might rely too much on the bias
It is Friday, the last day of January, so a good
and a nice time to do some studies with only few monitors switched on.
I might be done for the week.
188 points on the posted positions, have gone with other positions I have not posted, so will only mentioned here, as the overall it became a large position, so closed it with good profits
+188 points on these DOW Mar 25
The reasons I have covered these shorts was that S&P and NASDAQ has not been in agreement with the DOW, gaps has been closed and D Pivot was in close proximity
Also trading DOW cash
Have put several trades before the session, and 40 minutes into the session - being Friday - I am tempted to take it easy from now
got good points on both, DOW MAR 25 and DOW cash
Late edit:
10 trades on cash since the open today
15 trades on DOW MAR25
Flat now.
Have lost focus but not bias - at times it can be dangerous for me
I wish to trade what I see, and with limited focus I might rely too much on the bias
It is Friday, the last day of January, so a good
and a nice time to do some studies with only few monitors switched on.I might be done for the week.