Andrews Pitchfork (Median Line) | Page 24 | 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)

  • #461
  • Jun 23, 2009 11:21am Jun 23, 2009 11:21am
go right ahead, I for one wouldn't mind at all. it's about trading isn't it??!


Quoting rising sun
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....
~*~You are only one trade away from humility~*~
  • #462
  • Jun 23, 2009 11:22am Jun 23, 2009 11:22am
Quoting rising sun
Outside of a few is there anyone that is actually trading the methodology?
I trade harmonics for reversal areas and targets. I am incorporating forks into this for a better handle on both of these as harmonics can have several fib levels that are valid. Looking to bring in another view for price confluence.

Much of my trading is off of the 1min or 3-5 range bar charts with these higher Tf price action in mind. Buying back into the trend and watching the reversal areas.

I will look to post but it will also include my harmonics.
  • #463
  • Jun 23, 2009 12:29pm Jun 23, 2009 12:29pm
Quoting rising sun
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...
OK - as I keep saying, brand new to this, so no-one flame me!!!

I traded a very small position on this. I'm not keen on paper trading because you don't have the same emotional attachment.

My reasoning was:

Enter short at red arrow. Bounce off median line [yellow pitchfork] and Stoch in overbought [I know no-one else uses indicators with median lines] and crossed signal line.

I set a target 50 pips above the lower median line parallel [green tick] - and it hit it in the middle of the night last night for a profit of 280 pips.

There seems to be SOME compliance with the purple pitchfork and inside sliding parallel.

Would be interested to hear your thoughts - but please go easy on me!!!

Thanks,

Rob
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 23 KB
  • #464
  • Jun 23, 2009 12:48pm Jun 23, 2009 12:48pm
Position update: Currently $1.50+ on my position....
Attached Image
  • #465
  • Jun 23, 2009 1:03pm Jun 23, 2009 1:03pm
Has anyone found that the Hagopian [signal] line can provide support/resistance?
  • #466
  • Jun 23, 2009 1:06pm Jun 23, 2009 1:06pm
Quoting Gt3rs
OK - as I keep saying, brand new to this, so no-one flame me!!!

I traded a very small position on this. I'm not keen on paper trading because you don't have the same emotional attachment.

My reasoning was:

Enter short at red arrow. Bounce off median line [yellow pitchfork] and Stoch in overbought [I know no-one else uses indicators with median lines] and crossed signal line.

I set a target 50 pips above the lower median line parallel [green tick] - and it hit it in the middle of the night last night for a profit of 280 pips.

There seems to...
Good stuff Bro....I dont trade the GBP/JPY pair, I liked the confluence, however I would have been watching the 155.50 level as a target for at least a portion of my position, despite that the measured move of the recent MjSH (Major Swing High) shows a 151.85-90 as a major target. a trailing stop after the median line was hit would have been good as well, since targets for at least me is discretionary, you never know if the move will turn parabolic and go further in your direction after it hits your target zone. Dont want to miss a potential beginnings of a trend as we have witnessed in the CAD the last few months...

It was a decent entry, from what I gather and at least how I hunt a trade.Waiting for a reaction down and entering on a retracement, classic ABC-123 move with confluence, thats my MO. Great when you have support...
  • #467
  • Jun 23, 2009 1:16pm Jun 23, 2009 1:16pm
Classic Lunch trades....?

Selling dollars all over the place. FOMC positioning battle station preparedness taking place....? Good yield differentials in Euro vs. $....Scouting a pullback.

Hermit you called the northbound train, I didnt get the lower price I was looking for. Waiting again...
  • #468
  • Jun 23, 2009 1:23pm Jun 23, 2009 1:23pm
Quoting rising sun
Good stuff Bro....I dont trade the GBP/JPY pair, I liked the confluence, however I would have been watching the 155.50 level as a target for at least a portion of my position, despite that the measured move of the recent MjSH (Major Swing High) shows a 151.85-90 as a major target. a trailing stop after the median line was hit would have been good as well, since targets for at least me is discretionary, you never know if the move will turn parabolic and go further in your direction after it hits your target zone. Dont want to miss a potential beginnings...
Thanks dude. I always set a target as soon as I enter a trade. I have to fight this thing called greed!!! I set it slightly above the lower parallel line just to increase the probability of hitting it.

This was a long term trade by my usual standards!! First time I've ever held a position overnight!

Of course, I could have got more, but isn't that always the case??!!

I was happy with 280 pips!

ps. is the dollar sell off due to existing home sales results?
  • #469
  • Jun 23, 2009 1:28pm Jun 23, 2009 1:28pm
Quoting Gt3rs
Thanks dude. I always set a target as soon as I enter a trade. I have to fight this thing called greed!!! I set it slightly above the lower parallel line just to increase the probability of hitting it.

Of course, I could have got more, but isn't that always the case??!!

I was happy with 280 pips!

ps. is the dollar sell off due to existing home sales results?
I hear ya...280 is good pippage. What was your stop level..? That pair is the beast..! The range on that witch is scary...
  • #470
  • Jun 23, 2009 1:47pm Jun 23, 2009 1:47pm
ps. is the dollar sell off due to existing home sales results?

I am not a fundamentalist or use funnymentals, but I do need to understand the bigger picture (the obvious). I think however, there is every reason to be short dollars right now. With that said I am cautious when a long dollar scenario is presenting itself being I am more of a opportunist...Generally I will lighten the load (positions sizing) so to speak. For instance, when we witnessed the CAD weaken against the dollar recently and there was some decent setups, I was long half the normal size I generally trade, nothing changed in terms of the R/R, so just another way of equalizing risk within my portfolio if you will.
  • #471
  • Jun 23, 2009 1:57pm Jun 23, 2009 1:57pm
Quoting rising sun
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...
I've been using these lines since the late 80's and I don't belive that they are curve fitted any more so than Gann ratios or Fib values. After all, they are Gann derivitives and seem to whisper meaningful things, if you're listening. As long as you keep in mind that the ML's are the major lines to watch then these minor lines show a lot, once you get cozy with them.

I don't normaly trade the daily chart or the EUR/USD (EUR/JPY is my gig) but am working on a time sensitive project and the daily (stepped up to the H1 on the EJ) gives me time to do both. Normal 4x trading for me is scalping...fill my book and I'm done for the day...long term is via futures contracts.
Attached Image (click to enlarge)
Click to Enlarge Name: EU-06-23-09-D1am.gif Size: 27 KB
Listen to the whispers.... You may learn something
  • #472
  • Jun 23, 2009 2:08pm Jun 23, 2009 2:08pm
In the first zoomed out pic you can see several price levels hit. This shows levels of major interest.

The 2nd pic shows the down fork with energy points from the larger up fork. I've done a lot with channels and sliding parallels where these can be major price magnets.

My goal is to join median lines with harmonics for added confluence. Most of my trading is from the 1min or 3-5 range chart using hourly pivots and looking for confluence to these higher TF magnets.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GY_2009-06-23_1319.png Size: 98 KB
Click to Enlarge Name: GY2_2009-06-23_1330.png Size: 108 KB
  • #473
  • Jun 23, 2009 2:17pm Jun 23, 2009 2:17pm
Quoting Scrutch
I've been using these lines since the late 80's and I don't belive that they are curve fitted any more so than Gann ratios or Fib values. After all, they are Gann derivitives and seem to whisper meaningful things, if you're listening. As long as you keep in mind that the ML's are the major lines to watch then these minor lines show a lot, once you get cozy with them.

I don't normaly trade the daily chart or the EUR/USD (EUR/JPY is my gig) but am working on a time sensitive project and the daily (stepped up to the H1 on the EJ) gives me time to...
I think you have taken my statement out of context (was intended for anyone particluar), or maybe I stated incorrectly. I meant using the tools as intended, too many times we try to over optimize our indicators to reflect the path we want as opposed to where the probability may take it.

Looking at your charts I could not even begin to visualize where I want to enter or exit with all the lines, as I said if folks can trade that way then great, I was stating I couldnt. If you could post a chart of where you entered and exited, that would help in discerning how you use the median methodology other than philosophy although important.

More importantly, I was just trying to get the juices flowing from everyone to post there wins-losses to the benefit of everyone, not just a chart with no real reason of education other than the ability that we have the talent to draw...Please take no offense, I am posting to bring the best out of all of us....


P.S. Why would you intraday trade the cash market when the futures market provides a lesser transactional cost..? Not to mention the tape...It cant be liquidity, unless of course your trading major size. Just curious..?



Or maybe I am in the wrong thread...?
  • #474
  • Jun 23, 2009 2:50pm Jun 23, 2009 2:50pm
Quoting rising sun
I think you have taken my statement out of context (was intended for anyone particluar), or maybe I stated incorrectly. I meant using the tools as intended, too many times we try to over optimize our indicators to reflect the path we want as opposed to where the probability may take it.

Looking at your charts I could not even begin to visualize where I want to enter or exit with all the lines, as I said if folks can trade that way then great, I was stating I couldnt. If you could post a chart of where you entered and exited, that would help in...
The chart I posted has my entry level, stop loss and break even shown and also where I activated a trailing stop. Also where I took some size off a couple of times, next off will be at the 3/8'ths line (dotted just below the ML), then see if it can clear and hold the 3/8'ths and test the ML. While I didn't elaborate on my reasons...I was going to enter at a touch of the 1/8'th line (dotted, just above the LML) but was tied up when that happened...so next best thing...enter at yesterdays waist, which happened at a P1..P2 parallel and mid way between 1/8'th and 2/8'ts (3/16'ths so to speak). First profit taken at the 2/8'ths line and stop loss moved up to just below that line. Second profit taken for the fat side of 100p's when I activated the trailing stop.

Quoting rising sun
P.S. Why would you intraday trade the cash market when the futures market provides a lesser transactional cost..? Not to mention the tape...It cant be liquidity, unless of course your trading major size. Just curious..?
Or maybe I am in the wrong thread...?
I can trade fair size on the intraday compared to one contract on the futures side, giving me more bang for the buck.
Listen to the whispers.... You may learn something
  • #475
  • Edited 5:59pm Jun 23, 2009 4:07pm | Edited 5:59pm
rising sun,

Current GY short in progress with multiple targets.
Setup is off of the 50% retracement that has already been tested.

Target T1 is confluence of smaller 50% swing level and the energy point from 2 different forks. Also is new daily pivot for floor traders.

Target T2 is just off of previous low. New S1 floor pivot is a 154.85, just below this target level.

Target T3 is harmonic point D @ 127.2% of BC (current upswing).


UPDATE: Out 1/3 at +52, moved stop to BE +20.
Attached Image (click to enlarge)
Click to Enlarge Name: GYshort_2009-06-23_1601.png Size: 92 KB
  • #476
  • Jun 23, 2009 6:39pm Jun 23, 2009 6:39pm
Thanks alot for the updated chart, Scrutch. Still learning and observing your 'inner lines of vibrations' within the fork. I got in long on a setup in the 20-min time frame, which is similar to what Tim as shown us using the Modified Schiff; and thereafter, the darn thing just goes ballistic. Great clean chart you have there. Take care.

Have a good one
Jeff

Quoting Scrutch
Update on the daily Catalin...
Sweet...moving up nicely
~*~You are only one trade away from humility~*~
  • #477
  • Jun 23, 2009 6:43pm Jun 23, 2009 6:43pm
Yes, I agree with your take regarding John Crane; very interesting 'bar counting' techniques; but as you mentioned, don't work all the time and I found myself spending all the time counting bars instead of detecting market structures, which I always put a lot of emphasis on in trading. My take is it's really worth the time with John but as you put it on another post, it's really icing on the cake for the trading of the Andrew's Lines. Take care.

Jeff

Quoting auxesis
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
~*~You are only one trade away from humility~*~
  • #478
  • Jun 23, 2009 7:02pm Jun 23, 2009 7:02pm
I had this pitchfork drawn on following the bearish looking price action and formation of lower lows at the beginning of the month which suggested the possibility that EU was topping out. After the break of the neckline of the subsequent head and shoulders formation we failed to see the bearish reaction one might have expected. But now EU has accurately tested the UMLH of this APF, to a fraction of a pip. Further evidence that this structure may hold some significance is the respect of the handle, raising the possibility that the fork could describe the future resonance of price as it has done in the past.

Also worth noting is that price found sellers entering the market in their droves last time price was at this level on 12/06. Although, after the super bullish day yesterday, it would be a brave move to enter short without a low risk entry or further confirmation.
Attached Image (click to enlarge)
Click to Enlarge Name: 24062009eudailypf.gif Size: 33 KB
  • #479
  • Jun 23, 2009 7:14pm Jun 23, 2009 7:14pm
No trade charts posted because there's no trades to post. I was looking short on the euro last night, as seen from the posts.

Price on 240min has been making lower lows/highs - gold lines

I had been sitting on my hands waiting for last weeks ugly expanding wedge to finish, when it took out the lows shown (red) and the blue up fork I was looking to get short on pull back if it presented itself, blastoff happened while I was snoozing but it never paused long enough to even think short. I had posted a possibility of the north move but unlike Tim I never saw the opportunity to get north.

Now I'd say north, since it has taken out the prior high, but this small correction needs to finish, at a lower level.


fwiw,
Attached Image(s) (click to enlarge)
Click to Enlarge Name: !.gif Size: 25 KB
Click to Enlarge Name: !!.gif Size: 21 KB
  • #480
  • Jun 23, 2009 7:31pm Jun 23, 2009 7:31pm
Yeah, going down to smaller time frame for refinement; the 5-min Andrew's Lines I have just drawn is tacked with the exact pivots of yours. Looking for a down move to the Median Line of this fork as well. Take care.

Jeff

Quoting auxesis
No trade charts posted because there's no trades to post....
Attached Image (click to enlarge)
Click to Enlarge Name: Eur Median Lines 06242009(i).gif Size: 29 KB
~*~You are only one trade away from humility~*~
1 trader viewing now