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Andrews Pitchfork (Median Line)

  • #321
  • May 26, 2009 2:34pm May 26, 2009 2:34pm
Quoting jharteam
Almost exactly the same as my Euro/Usd hourly chart, happy to say that! I'm waiting for THAT setup as well!!! Take care

Jeff
Hi Jeff!
Hey, makes me feel good to know our charts are in synch! Good to see you anywhere!

Tim
  • #322
  • May 26, 2009 2:35pm May 26, 2009 2:35pm
Quoting jharteam
Ditto here!!! what the heck are you doing here, there are much better and more respectable places for you to present your work, Tim....all the same, I'm happy to see you here. Thanks and take care

Have a good one
Jeff
Ok, Jeff...please give me some better and better respected places. I am locked in a hotel room for three days and am charting like a mad man...

Tim
  • #323
  • May 26, 2009 2:36pm May 26, 2009 2:36pm
By the way, am I posting in the right place and thread...or am I completely in the wrong area?

Tim
  • #324
  • May 26, 2009 2:37pm May 26, 2009 2:37pm
Quoting TimMorge
Ok, Jeff...please give me some better and better respected places. I am locked in a hotel room for three days and am charting like a mad man...

Tim
Hey don't run off! I've read some of your documents, courtesy of Jeff. Still reading and learning.

Thanks for your many contributions.
Up or down, gimme a ticket
  • #325
  • May 26, 2009 2:54pm May 26, 2009 2:54pm
Quoting SpecialEd
Hey don't run off! I've read some of your documents, courtesy of Jeff. Still reading and learning.

Thanks for your many contributions.
No worries. I appreciate the kind words. Seems friendly enough here. I'm too old to run, anyways.

Tim
  • #326
  • May 26, 2009 2:58pm May 26, 2009 2:58pm
It isn't that surpising that the GBPJPY 240 chart looks a bit like the GBPCHF 240 min chart. Testing prior Major Swing highs, may still end up being a range, but no sign of weakness yet.

I like how the 'slop' above and below the prior major modified Schiff Median Line called the action for quite some time and now, the slop above and below the current modified Schiff Median Line may also give us the top from the bottom overshoot--or not! We'll see if price can bust through these highs.

I wish you all good trading.

Tim
Attached Image (click to enlarge)
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  • #327
  • Edited 6:33pm May 26, 2009 6:19pm | Edited 6:33pm
Hi Tim:

I am real happy to see someone of your caliber over here. But over all, the crowd here is a mixed bags of professionals to the categories of 'not too courteous and down right idiotic' type of people over here. Well, a US trader friend, Scrutch, has recommended your site to many others, through my Andrew's Lines thread, who show genuine interests on the said subject already. And over the recent months, I am sure people who follow my posts will lead them to your site as well. So, Tim, you are quite well 'exposed' and I am happy to do it for you; as you deserve every bit of 'assistance' on your endeavors. Rest assured, on my part, I only recommend to the type of people who treat trading as a serious business.

Sorry, Tim, I can't think of any other respectable site except yours! I'm not trying to 'kiss a**' here; as you know, I have been following your threads at the RT forum since the late 90's. And you know what, this thread is started by your friend, Catalin. Though he's busy now; people who use the forks will post here and it's won't be frequent by people who go for the mechanical trading systems and indicators; cause once they take a look at it, they find 0 indicators on the charts; they will run away without looking back :*)

You take care, my friend.

Have a good one
Jeff


Quoting TimMorge
Ok, Jeff...please give me some better and better respected places. I am locked in a hotel room for three days and am charting like a mad man...

Tim
~*~You are only one trade away from humility~*~
  • #328
  • May 26, 2009 6:23pm May 26, 2009 6:23pm
Yes, I have noticed that all the time when drawing my Andrew's Lines, and most of time, this 'slopping above and below' show good precision for possible low risk entries as time marching forward to the future.

Have a good one
Jeff

Quoting TimMorge

I like how the 'slop' above and below the prior major modified Schiff Median Line called the action for quite some time and now, the slop above and below the current modified Schiff Median Line may also give us the top from the bottom overshoot--or not! We'll see if price can bust through these highs.

I wish you all good trading.

Tim
~*~You are only one trade away from humility~*~
  • #329
  • May 26, 2009 6:25pm May 26, 2009 6:25pm
THIS is definitely the right place to post the Pitchforks. As it's specifically created by Catalin solely for the Andrew's Lines, Tim.


Quoting TimMorge
By the way, am I posting in the right place and thread...or am I completely in the wrong area?

Tim
~*~You are only one trade away from humility~*~
  • #330
  • May 26, 2009 6:53pm May 26, 2009 6:53pm
Here are my takes for the Eur/Usd, 5-wave completed in the 20-min time frame; ending up with a 'wedgey fifth'; the down sloping Andrew's Lines gave a good intraday short setup yesterday but need to be redrawn now. On the 60-min time frame, the previous Modified Schiff and its Warning Lines contained this market VERY well and still doing the job at this moment. As with your case, I'm eyeing on this newly added Royal Blue Upsloping Andrew's Lines for the 'test'. Take care.

Have a good one
Jeff


Quoting TimMorge
Hi Jeff!
Hey, makes me feel good to know our charts are in synch! Good to see you anywhere!

Tim
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Eur Median Lines 05272009(ii).gif Size: 41 KB
~*~You are only one trade away from humility~*~
  • #331
  • May 28, 2009 12:05am May 28, 2009 12:05am
I've been studying this pitchfork lines for quit a bit...
If i may ask, what is " good seperation" means??

Thanks for your reply...
  • #332
  • May 28, 2009 8:10am May 28, 2009 8:10am
Quoting surya97
I've been studying this pitchfork lines for quit a bit...
If i may ask, what is " good separation" means??

Thanks for your reply...
Separation refers to the quality of a bar that tests a Median Line or its Parallels. It is not a term from Dr. Andrews' body of work, but something I coined while teaching and mentoring professional traders at the exchanges.

A bar has good separation if it tests an up sloping line from above and then closes well above it [or tests a down sloping from below and closes well below it]. This quality named separation shows whether the buyers or sellers are in control. IF price closes on the line, wait for the next bar to unfold before making your decision--let price show you whether the buyers or sellers are in control.

I hope that helps.

Tim Morge
  • #333
  • May 28, 2009 10:37pm May 28, 2009 10:37pm
Thanks a lot Tim, it really helps....
Btw, i follow you every monday on the free session...
It's great to have you here too...


Quoting TimMorge
Separation refers to the quality of a bar that tests a Median Line or its Parallels. It is not a term from Dr. Andrews' body of work, but something I coined while teaching and mentoring professional traders at the exchanges.



I hope that helps.

Tim Morge
  • #334
  • May 29, 2009 6:13am May 29, 2009 6:13am
Quoting surya97
Thanks a lot Tim, it really helps....
Btw, i follow you every monday on the free session...
It's great to have you here too...
Thank you Surya. I would post a link to the CME sponsored free live sessions, but I don't know if that is allowed on this site, even though it is exchange sponsored and free. I haven't figured out the rules yet...But I am glad you are enjoying the sessions and hopefully, other people will find their way there and I'll post more interesting charts in the next few days.

Take care.

Tim Morge
  • #335
  • May 29, 2009 8:23am May 29, 2009 8:23am
Here's a gorgeous CADUSD set up I pointed out earlier and twittered on stocktwits. CADUSD is in vertical mode again, so the game is to find quality entries after major pullbacks that give a change in behavior. This is my favorite set up, a test and re-test.

Find and ride em!

I wish you all good trading.

Tim Morge
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  • #336
  • May 29, 2009 9:25am May 29, 2009 9:25am
Another classic set up, this time in EURUSD. Again, using a simple test and re-test on an up sloping Median Line set with a high probability set up that has a small stop loss.

Note that the profit area is at an Energy Point, where Lines of Opposing Force cross.

Tim Morge
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  • #337
  • May 29, 2009 9:27am May 29, 2009 9:27am
Still long Nov Beans. I have already locked in profits on 2/3's of the position and it looks so good, I am scared its about to go vertically higher! I don't see a logical profit area, so I'll just let what's left run with a stop under prior swing lows and see how high they can drive these beans!

remember, NOW is not the time to be getting long...wait for a high probability trade entry set up...so not chase price, especially when it has gone parabolic.

Tim Morge
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  • #338
  • May 29, 2009 9:32am May 29, 2009 9:32am
Last portfolio update: My 10 year old son has been helping me update my hand drawn charts since last summer. He nailed the turn down in crude when gas was $4.25 a gallon in Chicago--his call was that we'd see $1.50 a gallon gas within six months! Boy, he was dead on!

Lon crude now at great levels. I've locked in 1/3 of the profits and the balance is running as price keep sprinting higher. I am about to snug up my $53.50 profit stop, but I'd like a better swing low to hide under. At $72.25, Sean's college fund is full...so, the charts like that area, Sean likes that area, and I like that area. I hope the market is perky enough to keep this rocket ride going for another $6 a barrel...

Again, NOW is not the time to get long. Wait for pullbacks and high probability trade set ups.

I wish you good trading.

Tim Morge
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  • #339
  • May 29, 2009 10:00am May 29, 2009 10:00am
Important lesson on keeping your emotions in check. Start each day with a fresh mind and let the market where it is going THAT day and for the next XX minutes. Keep your mind free from opinions and trade what the market gives you! People that got married to a view in May got killed! People that traded what they say, without an opinion, had great trading months...

Tim Morge
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  • #340
  • Edited 10:27am May 29, 2009 10:07am | Edited 10:27am
Quoting TimMorge
Important lesson on keeping your emotions in check. Start each day with a fresh mind and let the market where it is going THAT day and for the next XX minutes. Keep your mind free from opinions and trade what the market gives you! People that got married to a view in May got killed! People that traded what they say, without an opinion, had great trading months...

Tim Morge
Are you the Morge, i.e. of CBOT trainers?
Edit: Don't bother to answer, I just checked the thread. Glad to see ya. Only started posting at FF in the last month myself, so getting to know my way around this site. Perhaps I've been posting my pitchfork analysis in the wrong thread. On second thoughts, perhaps not as it's geared to intraday trading the EURUSD. At least now I know where to send enquiring minds.
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