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Andrews Pitchfork (Median Line)

  • #41
  • Mar 26, 2008 8:03am Mar 26, 2008 8:03am
The basis for the Schiff fork.
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  • #42
  • Mar 26, 2008 8:10am Mar 26, 2008 8:10am
1 hour guppy with schiff
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  • #43
  • Mar 26, 2008 9:12am Mar 26, 2008 9:12am
yes, but just look at how the price ran with those 2 large candles on a pierce of justcatalin's lower fork line.

wow, no hesitation, straight down to where you would've normally drawn a traditional trend line or S&R level.
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  • #44
  • Mar 26, 2008 9:27am Mar 26, 2008 9:27am
The depth of misunderstanding on this hunk of cyberspace known as forexfactory.com is astounding at times. Does no one make it a point to study a particular technique or strategy before chiming in with an opinion?

Justcatalin has done just fine with his use of median lines. His(or her) explanation of Schiff and modified Schiff's are fine as well.

There are many ways to use pitchforks for trading and Justcatalin is sharing his interpretation. So let him share them without the commentary of right and wrong. Andrews would have nothing but positive comments about justcatalin's use. Instead of criticizing, why not try learning something.
  • #45
  • Mar 26, 2008 9:33am Mar 26, 2008 9:33am
APO (Alternate Point of Origin)Forks I believe is the designation from Morge's forum for forks with a detached handle point. They are anchored off the 2 and 3 points and are floated to capture price action.

Yes they are powerful, but you are basically using the current angle of price support/resistance to draw a channel with the mid channel mark being the center median.

The trick is to know which to use and when.
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  • #46
  • Mar 26, 2008 9:41am Mar 26, 2008 9:41am
Quoting ActioReactio
The depth of misunderstanding on this hunk of cyberspace known as forexfactory.com is astounding at times. Does no one make it a point to study a particular technique or strategy before chiming in with an opinion?

Justcatalin has done just fine with his use of median lines. His(or her) explanation of Schiff and modified Schiff's are fine as well.

There are many ways to use pitchforks for trading and Justcatalin is sharing his interpretation. So let him share them without the commentary of right and wrong. Andrews would have nothing but positive comments about justcatalin's use. Instead of criticizing, why not try learning something.

Yes I shall step to the sidelines.
  • #47
  • Mar 26, 2008 11:06am Mar 26, 2008 11:06am
auxesis, My comments were not aimed at you in any way. Your contribution to this thread is quite advanced.
  • #48
  • Mar 26, 2008 12:53pm Mar 26, 2008 12:53pm
Hello auxesis and thanks very much for your contribution and all of you who make this thread active.
How i say i know how to draw schif fork but sometime i got very good entry from modified fork
Today i close my position for gbp/jpy for 200 pips and now im again in trend with schif fork and +115 pips and stop loss at 0
Thanks again for keep this thread active
Regards
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  • #49
  • Mar 26, 2008 8:57pm Mar 26, 2008 8:57pm
the more i look at your modified-modified schiff line method on the charts(historically and present), the more i'm impressed.

just look at how that guppy is progressing for instance.

you could keep using the first fork with a sliding parallel added to the bottom line or you could just draw a new fork from the new swing high/lows (since the first fork was violated).

look at how well the price respects it. WOW!

it would appear to be a accurate way to produce an early APO fork (as described by auxesis) with no guess work for the proper angle.
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  • #50
  • Mar 26, 2008 10:59pm Mar 26, 2008 10:59pm
whoops, had another look.

I think when the first fork was breached and created this new downtrend one, it would probably be prudent to wait for it to breach as well to resume the uptrend. (and then draw the new uptrend fork to follow it along)

i was away from the markets today and overlooked that on my earlier review.

of course like they say, there's all kinds of ways to trade these things...
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  • #51
  • Mar 27, 2008 8:21am Mar 27, 2008 8:21am
Bunjow,

I don't remember Dr. Andrews writing about this much (will have to check my newsletters) but it is something he made a point of teaching his students:

Balance or control points

From your posted chart, it would look like this. They define those hard to understand pivots just a little bit better.

fwiw.
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  • #52
  • Mar 27, 2008 1:12pm Mar 27, 2008 1:12pm
Yes I understand what you are saying about control points for trendlines, but they are subjective (just like it is for drawing all normal trendlines).

What i like about justcatalin's unique way of drawing schiff forks is that it is a 100% mechanical way to draw trendlines that are accurate and also seems to provide earlier signals than the traditional median line or the traditional modified schiff that was taught by Mr. Andrews.(imo)

While it is true that the downtrend fork i drawn could be considered to have failed (since it did not reach the median line target), but then again it depends how you traded it. (trailing stop, taking profits at an obvious S&R level, taking profits when risk/reward reach 1:1 or better, etc.)

When the price broke through the top line of the downtrend fork, it was an obvious trendline beak and did reach the target of the new uptrend fork. NICE!
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  • #53
  • Mar 27, 2008 1:44pm Mar 27, 2008 1:44pm
bunjow, You misunderstand. The balance line I put onto your chart is not a trendline nor subjective. As an MIT, professor, he was quite fastidious about such things. But, then again, you probably think center lines as well as action-reaction lines are nothing but subjective, too. Perhaps you should think before you speak, especially when you have no understanding of the subject at hand.
  • #54
  • Mar 27, 2008 1:45pm Mar 27, 2008 1:45pm
bunjow,

You misunderstand. The balance line I put onto your chart is not a trendline nor subjective. As an MIT, professor, he was quite fastidious about such things. But, then again, you probably think center lines as well as action-reaction lines are nothing but subjective, too.

Perhaps you should think before you speak, especially when you have no understanding of the subject at hand.
  • #55
  • Mar 27, 2008 1:47pm Mar 27, 2008 1:47pm
Quoting ActioReactio
bunjow, You misunderstand. The balance line I put onto your chart is not a trendline nor subjective. As an MIT, professor, he was quite fastidious about such things. But, then again, you probably think center lines as well as action-reaction lines are nothing but subjective, too. Perhaps you should think before you speak, especially when you have no understanding of the subject at hand.
Hi, do you have some source material on this, or where to find the material? I have not heard of the balance line and would like to study more. thanks in advance
  • #56
  • Mar 27, 2008 2:03pm Mar 27, 2008 2:03pm
Quoting smjones
Hi, do you have some source material on this, or where to find the material? I have not heard of the balance line and would like to study more. thanks in advance
Yep, me too.
  • #57
  • Mar 27, 2008 2:54pm Mar 27, 2008 2:54pm
I'm sorry if I offended you in some manner, but in regards to your rather abrasive posts towards me, I feel compelled to defend myself.

I have read Dr. Andrews course materials and have never once stated that his median lines/center lines/action reaction lines are subjective. To the contrary actually. It was traditional trendlines that are subjective. Please reread my posts.

While you may not consider your balance line a trendline, I do submit to you that since there is no mechanical way to plot that line, then that would make it by it's very nature subjective.

My only goal on this thread was to merely express my opinion that justcatalin's twist on the schiff lines was a great modification that really clears up the price action on the upper/lower lines.

Since my opinion is held by such distain from you, I shall refrain from posting to this thread anymore.

I wish you the best of luck with your trading.


Quoting ActioReactio
bunjow, You misunderstand. The balance line I put onto your chart is not a trendline nor subjective. As an MIT, professor, he was quite fastidious about such things. But, then again, you probably think center lines as well as action-reaction lines are nothing but subjective, too. Perhaps you should think before you speak, especially when you have no understanding of the subject at hand.
  • #58
  • Mar 27, 2008 2:59pm Mar 27, 2008 2:59pm
Quoting bunjow
I'm sorry if I offended you in some manner, but in regards to your rather abrasive posts towards me, I feel compelled to defend myself.

I have read Dr. Andrews course materials and have never once stated that his median lines/center lines/action reaction lines are subjective. To the contrary actually. It was traditional trendlines that are subjective. Please reread my posts.

While you may not consider your balance line a trendline, I do submit to you that since there is no mechanical way to plot that line, then that would make it by it's very nature subjective.

My only goal on this thread was to merely express my opinion that justcatalin's twist on the schiff lines was a great modification that really clears up the price action on the upper/lower lines.

Since my opinion is held by such distain from you, I shall refrain from posting to this thread anymore.

I wish you the best of luck with your trading.
Don't stop posting because someone thinks that they can speak on behalf of Dr Andrews. I enjoy your posts.
  • #59
  • Mar 27, 2008 3:14pm Mar 27, 2008 3:14pm
Hi Catalin,
I bet you never thought your version of Schiff would arouse such debate.
  • #60
  • Mar 27, 2008 3:17pm Mar 27, 2008 3:17pm
Quoting bunjow
I'm sorry if I offended you in some manner, but in regards to your rather abrasive posts towards me, I feel compelled to defend myself.

I have read Dr. Andrews course materials and have never once stated that his median lines/center lines/action reaction lines are subjective. To the contrary actually. It was traditional trendlines that are subjective. Please reread my posts.

While you may not consider your balance line a trendline, I do submit to you that since there is no mechanical way to plot that line, then that would make it by it's very nature subjective.

My only goal on this thread was to merely express my opinion that justcatalin's twist on the schiff lines was a great modification that really clears up the price action on the upper/lower lines.

Since my opinion is held by such distain from you, I shall refrain from posting to this thread anymore.

I wish you the best of luck with your trading.

Please continue posting, as it can only add to the knowledge base. I think we would be the lesser if you refrained.
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