GBPCHF energy point in the next few hours, plus some tough support below at 1.9916 from April.
Better Andrews Pitchfork and MT4 14 replies
Andrews Pitchfork 120 replies
Andrews Pitchfork video 22 replies
median line Bollinger band cross 3 replies
DislikedOne source for my earlier comments taken from The Doctoral Dissertation by Greg Fisher, on Pitchforks and the Grain markets, pg.18
http://www.marketgeometry.com/Fisher.pdf
additional link ensign software
http://www.ensignsoftware.com/tips/tradingtips86.htm
I do have to admit that the designation between the two is blurred...Ignored
Quoting gfishDislikedI have heard from a few of Dr. Andrews students (including Tim) that he strongly disliked the name "pitchfork" that his creation came to be known. When I learned of this, I have always referred to his works as Median Line sets rather than "pitchforks".
In my research paper, I can see that the section labeled Schiff Median Line clearly shows a modified Schiff ML under that heading - surely misleading. Since then, I have learned the more proper definition, and have chosen to refer to them as historically correct. I haven't seen hardly anyone use the original Schiff ML, so that is probably why the modified Schiff designation took the same definition.
I don't care what everyone else calls them. I will call them as they were originally intended.
Median Line sets - NOT pitchforks.
Schiff ML - 50% up or down from A.
Modified Schiff ML (Mod Schiff) - 50% up or down from A, and 50% over from A to B.
Suppose it all depends on your personal preference and suppose in the whole scheme of things it doesn't really matter. I tend to sway toward the side of truth and original intent and not the misinformation that tends to distort the truth and original intent over time.Ignored
DislikedThis chart can be the same setup like Tim Morge?
Let see
Regards
CatalinIgnored
DislikedThe problem big_pipin, maybe in that forex is always overshooting.
The basic fork is simple to draw, take any three pivots and you can draw one. Most packages have it. For a fork to be useful, price has to respect it, but price doesn't have to.
I think Tim is the person who betters explain the use of forks, although not the only one. Yet so I find incredible that in his work shown at w w w . m e d i a n l i n e . c o m, at least one of each two examples has something else. It can be sliding parallels, it can be schiff forks (modified ones for the pures), it can be hagopian everywhere, it can be anything. I took the time to pack them together in a file to not having to press on each chart to study them carefully (and to be able to print faster, by the way).
I don't see simple forks without any help can give you the 70 to 85 % accuracy that Tim is proud of. Yet so, I still think that % can be achieved (if not what am I trying to do?). So, just in case it serves you, I have some rules for drawing forks, and I can put a chart of USDCAD-H1 (just because there is no recent CAD forks chart here, I can put any other one).
For drawing forks (some obvious things omitted, you already know forks):
-The first pivot has to be an important local high or local low
-The second pivot will be the maximum or minimum of the swing starting at the first pivot. Multiple tops and bottoms are ok for this pivot.
-The third pivot will be the end of the reaction move after the second pivot. Many times this will be between 61.8% and 78.6% retracement, an area known as Brach area.
-Forks (edited) drawn over previous support or resistance are more probable to be meaningfull
-Always draw a downward fork after you see weakness (if you haven't drawn it before). The reverse for upward forks.
-Always draw a schiff fork after a sharp move is over, always always always draw a schiff fork after a sharp move is over, and has been fully or almost fully retraced.
In the CAD chart, rectangular boxes are price failures, ellipses are entries. Sliding parallels are always drawn in the color of the fork, and schiff are drawn with their inserting first pivot shown with a trendline (useful on MT4 for drawing). Not everything is drawn, this are my marks, I'm not a professional, yet.Ignored
Disliked
the .382 or possible .5 targets 1.51 to1.53 areas.
Price making the bottom of the channel will set up another set of possibilities, but we can wait to see if that unfolds.
Fwiw,Ignored
Dislikedkeep in mind guys this dollar rally is real and euro is still over valued. i would remain dollar bullish for some time.Ignored
DislikedHas it ever been suggested in any writings to draw warning lines (sliding pitchfork) off a schiff (modified schiff) fork?Ignored
DislikedEuro usd daily some posibility of median line setup
Can go down to touch the MLH or fail and go at UP MLH?
What do you think guys ?
The most big problem at median line is no one draw the same and this make me to think witch one is right
Regards
CatalinIgnored