Andrews Pitchfork (Median Line) | Page 23 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Better Andrews Pitchfork and MT4 15 replies

Andrews Pitchfork 120 replies

Andrews Pitchfork video 22 replies

median line Bollinger band cross 3 replies

Attachments: Andrews Pitchfork (Median Line)
Exit Attachments

Andrews Pitchfork (Median Line)

  • #441
  • Jun 22, 2009 7:09pm Jun 22, 2009 7:09pm
Hi John:

I understood your presentation perfectly but can you please show me how to produce the .50, .618 etc.time lines on MT4? I can't figure out how to use these fibs along with the angle of the Median Line. Beautiful chart indeed. TIA.

Have a good one
Jeff

Quoting auxesis
Gt3rs,

Does price have to make the median inside any time window?

Not necessarily, price can play inside the fork retesting any of the lines, generally you will see the angle of the fork being played out inside, sliding parallels of the original median. if the angle of support resistance is different from the fork could show possible strength or weakness

What I believe the time window shows is possible measured moves....
~*~You are only one trade away from humility~*~
  • #442
  • Jun 22, 2009 7:14pm Jun 22, 2009 7:14pm
Quoting jharteam
Hi John:

I understood your presentation perfectly but can you please show me how to produce the .50, .618 etc.time lines on MT4? I can't figure out how to use these fibs along with the angle of the Median Line. Beautiful chart indeed. TIA.

Have a good one
Jeff
Jeff all the levels of the fib channel need to be in the negative and your projecting -100% so -2 would show as a 100% extension.

You will be anchoring the base line to the BC and dragging the opposite side of the fib channel to the A point... that will extend the measure down the fork.
  • #443
  • Jun 22, 2009 7:18pm Jun 22, 2009 7:18pm
Ah..ok, thanks alot for the tip!!! I was trying to figuring this out with a trend line; drove me nuts! Much appreciated.

Have a good one
Jeff

Quoting auxesis
Jeff all the levels of the fib channel need to be in the negative and your projecting -100% so -2 would show as a 100% extension.

You will be anchoring the base line to the BC and dragging the opposite side of the fib channel to the A point... that will extend the measure down the fork.
~*~You are only one trade away from humility~*~
  • #444
  • Jun 22, 2009 7:19pm Jun 22, 2009 7:19pm
this might help
Attached Image (click to enlarge)
Click to Enlarge Name: !.gif Size: 15 KB
  • #445
  • Jun 22, 2009 7:26pm Jun 22, 2009 7:26pm
Great, thanks for the clarification.

Quoting auxesis
this might help
~*~You are only one trade away from humility~*~
  • #446
  • Jun 22, 2009 7:36pm Jun 22, 2009 7:36pm
I'm wondering, if in a landscape like this, there might be a chance of doubling the range?
Attached Image (click to enlarge)
Click to Enlarge Name: 37.gif Size: 23 KB
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #447
  • Jun 22, 2009 7:39pm Jun 22, 2009 7:39pm
Gt3rs,

John Crane put out a book a few years back, "Advanced Swing Trading" which is basically similar to Mikula's method you mentioned---timing past swing points measured from a move and projected forward.

There are some interesting points and thoughts to put to use but imho, they don't work all the time.

my $.02

regards
  • #448
  • Edited 9:52pm Jun 22, 2009 8:20pm | Edited 9:52pm
Spiderman's web gets even more interesting when Fib channels are added.
Attached Image (click to enlarge)
Click to Enlarge Name: 39.gif Size: 26 KB
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #449
  • Jun 22, 2009 11:46pm Jun 22, 2009 11:46pm
As this thing works it's way over to retest the upper median, an a possible short, Sometime London I'd say, be careful. Price has turned at what would be the mid-wedge, could be a bullish sign.....
Attached Image (click to enlarge)
Click to Enlarge Name: !.gif Size: 23 KB
  • #450
  • Jun 23, 2009 2:31am Jun 23, 2009 2:31am
Quoting auxesis
Gt3rs,

Does price have to make the median inside any time window?

Not necessarily, price can play inside the fork retesting any of the lines, generally you will see the angle of the fork being played out inside, sliding parallels of the original median. if the angle of support resistance is different from the fork could show possible strength or weakness

What I believe the time window shows is possible measured moves....
Many thanks Auxesis - really appreciate you taking the time to show me that.

Am I right in thinking that what you're basically saying is that you don't necessarily look for price to hit the median line within/at a certain time, but if it DOES, then it lends extra strength to your analysis?

Could you possibly explain the fib levels you use - and how you plot them? [I know you explained how to plot in an earlier post, but I'm pretty new to Metatrader as well!!]

Many thanks,

Rob
  • #451
  • Jun 23, 2009 4:56am Jun 23, 2009 4:56am
And here's another question [sorreee!]:

Do you guys place more weight on the larger pitchforks than the smaller ones?

[Roll on Friday when Tim's book arrives!!!]

:-)
  • #452
  • Jun 23, 2009 7:47am Jun 23, 2009 7:47am
Quoting Gt3rs
Many thanks Auxesis - really appreciate you taking the time to show me that.

Am I right in thinking that what you're basically saying is that you don't necessarily look for price to hit the median line within/at a certain time, but if it DOES, then it lends extra strength to your analysis?

Could you possibly explain the fib levels you use - and how you plot them? [I know you explained how to plot in an earlier post, but I'm pretty new to Metatrader as well!!]

Many thanks,

Rob
Rob,

Exactly.

There's something to be said for time/price analysis, when time's up things happen... but that's another story. If your just getting into forks it's essential that you ground yourself with the basics first and build upon that, as really that's all you need, the later is just some icing on the cake and an attempt to get ahead of the herd.

On different time frame forks.... if you think about it, the smaller chart is just a part of the larger. But you need to trade the time frame you chart your set up. There's a lot of activity between the medians of the larger median set, you just want to be aware of when your getting close to the larger lines, if your trading the smaller sets within.

Hope that makes sense, and that's how I see it. Others may have different views.

Regards,
  • #453
  • Jun 23, 2009 8:01am Jun 23, 2009 8:01am
Here is an intraday chart I am currently trading. The strong intraday trend is clearly seen contained by the upward channel. That information keeps you on the trend side while indicating the right time to reversal trade, on break of the up channel. The breakout from the lower pitchfork has not been retested and it is my experience trading the EURUSD that a retest will occur.
Larger TF chart in 4 hour had given the market position to expect the rebound off the low we got today, a signal I took and traded the upmove several times.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 23_06_2009 (3 Min).jpg Size: 46 KB
  • #454
  • Jun 23, 2009 8:18am Jun 23, 2009 8:18am
Here's an easier way to trade this move: Market Structure. I know my friend spouting religion and system trading statistics won't 'get' this either, but it was 'falling off a log'. Just finished my live pre-market session and this was one of the featured actual trades. See what you think--it could have been a Median Line buy on the re-test of the modified schiff Lower Parallel with a tight stop OR a simple Market Structure range trade, buying the second test of the range with a tight stop under the cluster of lows on the left.

Don't make it complicated. Learn Market Structure. It is the skeleton, Median Lines and Fibs and trend lines are the muscles and skin that fill out the formations...
Attached Image (click to enlarge)
Click to Enlarge Name: eur062309.png Size: 27 KB
  • #455
  • Jun 23, 2009 8:34am Jun 23, 2009 8:34am
Quoting TimMorge
Here's an easier way to trade this move: Market Structure. I know my friend spouting religion and system trading statistics won't 'get' this either, but it was 'falling off a log'. Just finished my live pre-market session and this was one of the featured actual trades. See what you think--it could have been a Median Line buy on the re-test of the modified schiff Lower Parallel with a tight stop OR a simple Market Structure range trade, buying the second test of the range with a tight stop under the cluster of lows on the left.

Don't make it complicated....
No Question...! And the mental fitness is the heart and soul....

Tim, I know you are considering on winding down the market maps seminar soon to focus on the advanced this summer I believe. Have you scheduled anymore seminars for this year at all yet in Chicago. I am coming to the exchange to meet a friend and would like to attend live, so wanted to get an idea of when so I can arrange a time that would tie into that. Kill two birds with one stone so to speak...?
  • #456
  • Edited 10:52am Jun 23, 2009 9:45am | Edited 10:52am
Here is a chart of Crude in which I took a entry on a retest this morning. Although this chart is a daily bar, the entry was taken on the 4 hour. Solid test of the lower median and retest of the lower Sliding Parallel that was derived from the April lows. Entry was at 67.00 with a stop of $1.50, as of this writing it currently trading at 67.20. Attached is chart, hopefully you all can see the chart....Lets see what crude will do for me...?

I am writing this and I get filled on a Gold entry (different set up, not median line), gotta run...! Good trading guys.....!
Attached Image
  • #457
  • Jun 23, 2009 10:17am Jun 23, 2009 10:17am
Quoting jharteam
Hi Scrutch:
Much appreciated you have taken the time to post your Daily Eur/Usd. While you were slapping a Catalin there; it is interesting that mine is a bit 'wider and bigger' than yours, the black up sloping Andrew's Lines is my Daily Eur/Usd Catalin's. And my sliding parallel falls right onto your up sloping lower median line as well. Let's see how things pan out then. Take care and thanks.
Have a good one
Jeff
Update on the daily Catalin...
Sweet...moving up nicely
Attached Image (click to enlarge)
Click to Enlarge Name: EU-06-23-09-D1.GIF Size: 25 KB
Listen to the whispers.... You may learn something
  • #458
  • Jun 23, 2009 10:52am Jun 23, 2009 10:52am
Quoting rising sun
Here is a chart of Crude in which I took a entry on a retest this morning. Although this chart is a daily bar, the entry was taken on the 4 hour. Solid test of the lower median and retest of the lower Sliding Parallel that was derived from the April lows. Entry was at 67.00 with a stop of $1.50, as of this writing it currently trading at 67.20. Attached is chart, hopefully you all can see the chart....Lets see what crude will do for me...?

I am writing this and I get filled on a Gold entry (different set up, not median line), gotta run...! Good...
Moving my stop up to the lows $66.40 to reduce some risk on my position. With EIA and FOMC tomorrow, dont want to keep to much exposure. Risk now is only $.60 cents.
Attached Image
  • #459
  • Jun 23, 2009 11:03am Jun 23, 2009 11:03am
Outside of a few is there anyone that is actually trading the methodology? I see significant amount of charts and lots of various new ways of generating lines (Hopefully not curve fitting) but no entries...? Wins...Losses....? Post them so everyone can share in the learning experience, dont be shy...No ones perfect, post some analysis and describe your opinion.

We can post lines all damn day with rainbow colors and medians going up then down everywhere that will have your eyeballs popping out of your head. Lets here your story. Personally I don't how some can even trade when you have 10+ lines going in different directions...That's me though, I like it simple and will sit on my hands for days for a opportunity. Please no disrespect to those that can decipher the lines they draw. I am just trying to spark and engage our trading group to put trades they take (win or lose) and explain them. It would be the benefit to all, those that are new as well as seasoned traders...
  • #460
  • Jun 23, 2009 11:07am Jun 23, 2009 11:07am
I would post my gold entry and the reasoning behind it, however the entry and management is not part of the median line methodology, more of price based method with some volatility measurements. Not what this thread is about....
1 trader viewing now