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Andrews Pitchfork (Median Line)

  • #481
  • Jun 23, 2009 7:52pm Jun 23, 2009 7:52pm
Quoting auxesis
No trade charts posted because there's no trades to post....
I agree with you Auxexis, I have been waiting for the Euro train myself, after that mark down from the high last friday I started feeling a little better on a breakdown despite higher highs. But wanted a little more confirmation and it rally's for 200+ from pre london to NY without a sweat. So I too am waiting for a classic entry. I believe this rally has been event driven based on the FOMC decision scheduled tomorrow, however I feel this may be already priced in. The last 2 decisions have led to some great opportunities. Will see in the next few days....Wont be trading tomorrow..!

I dont know how long you have been here, but this thread was started in March...? But hey, to each his own....I am just hanging out when I can....
  • #482
  • Jun 23, 2009 7:55pm Jun 23, 2009 7:55pm
Quoting traden4x
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.
Nice chart Brother...I see what you were thinking. Its a FREE trade now...!
  • #483
  • Jun 23, 2009 8:34pm Jun 23, 2009 8:34pm
Quoting rising sun

I dont know how long you have been here, but this thread was started in March...? But hey, to each his own....I am just hanging out when I can....
Catalin opened the thread a while back, trying to stir up some learning and dialogue, the thread seems to go through spurts of activity. Tims presence has sparked some interest from those who use the tools and know him.

Imho, it's been more of an informational thread rather than call box. Posting trades can get confusing as each has their own risk tolerence, what might be fine for me might freak out some one else, or vice versa.
  • #484
  • Jun 23, 2009 9:35pm Jun 23, 2009 9:35pm
There are lots of people and threads in FF making market calls; and to me, those are the ones that make lots of 'noise' and with lots of characters who came over to FF just to stir up some troubles; traders they are not. In the end of the day, the novice learn nothing out of it and the serious traders just depart for the reasons of wasting their precious times. I never like to show 'real time' trade as the purpose of the threads here are for sharing methodologies instead of treating them as a free real time trading recommendations. Take care.

Jeff

Quoting auxesis
Catalin opened the thread a while back, trying to stir up some learning and dialogue, the thread seems to go through spurts of activity. Tims presence has sparked some interest from those who use the tools and know him.

Imho, it's been more of an informational thread rather than call box. Posting trades can get confusing as each has their own risk tolerence, what might be fine for me might freak out some one else, or vice versa.
~*~You are only one trade away from humility~*~
  • #485
  • Jun 23, 2009 10:25pm Jun 23, 2009 10:25pm
Quoting jharteam
There are lots of people and threads in FF making market calls; and to me, those are the ones that make lots of 'noise' and with lots of characters who came over to FF just to stir up some troubles; traders they are not. In the end of the day, the novice learn nothing out of it and the serious traders just depart for the reasons of wasting their precious times. I never like to show 'real time' trade as the purpose of the threads here are for sharing methodologies instead of treating them as a free real time trading recommendations. Take care.

Jeff...
Quote
Originally Posted by auxesis
Catalin opened the thread a while back, trying to stir up some learning and dialogue, the thread seems to go through spurts of activity. Tims presence has sparked some interest from those who use the tools and know him.

Imho, it's been more of an informational thread rather than call box. Posting trades can get confusing as each has their own risk tolerence, what might be fine for me might freak out some one else, or vice versa. Auxexis

Really..? I give up....What I am trying to say is falling on deaf ears it seems. I never stated we should give signals or call box as you say, what I was trying to state was...we can all show where we entered (win or lose) to support the methodology that you and everyone else that purports using the median. This is not CALLBOXING, this is providing a foundation, a visual aid if you will. Real time trades is not the purpose of my statements, however if you feel that providing some education where you have entered, why and the outcome then so be it., you own that right, just remember where you came from and those that held your hand when you were incompetent in the speculative business we all enjoy and count on to pay our bills... We can all discuss the median till we are blue in the face, however if your not showing the community what your thoughts are, I feel it is a disservice, but thats me. Risk tolerance, I dont understand how that even matters quite frankly with what we are debating. So you trade a 4hr chart, someone else trades a 1 minute, the foundation is the same....

Besides Catalin started the thread in the fashion that I speak of (look at the beginning of thread, which by the way has become a thread of lines, lines, and more lines without supporting evidence on how you decided to use them, thats confusing for those who are new, is it not..? Maybe our trading backgrounds are different, matter of fact I am certian they are, but I am not here to cause any friction, just stating some inconsistencies that are obvious thats all, trying to help those who are new, not that I am a master of the median. But I will say that I am a seasoned trader and I would like to help in a positive way.


Its rubbish and suspicious that you jharteam would state that giving FREE signals is wrong, your in the wrong conversation it seems. I will defer this conversation and its probably necessary due to the mental warfare its causing.

Best of trading to everyone....

Thanks Catalin for your space....
  • #486
  • Jun 23, 2009 10:45pm Jun 23, 2009 10:45pm
For the moment I'm looking south, small sized due to correction, will try to pick off a few and look for price to stall and set up for a long later if I'm awake.

thinking something like this at the moment but will alter the thoughts as price unfolds, it's continually changing.

fwiw
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  • #487
  • Jun 23, 2009 11:13pm Jun 23, 2009 11:13pm
well it's worked it's way east and is pinched up, either it will break north and look for the high ( possible range setup from there, or we break this small support and a chance to make a little south, pull the stops , north and I'm off to bed.

fwiw
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  • #488
  • Jun 23, 2009 11:30pm Jun 23, 2009 11:30pm
Well that's probably the retest of the red fork, but I'm to tired to mess with it anymore, out and off to bed.

ZZZZZZzzzzzzzzzzzzzzzzzzz
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  • #489
  • Jun 24, 2009 5:24am Jun 24, 2009 5:24am
Price actions are still being contained by the up sloping upper median line; so far, the pattern may turn out to be a Head & Shoulder or an Expanding Top. Looking to short as well but I need more price structure to confirm the said price patterns. Take care.

Have a good one
Jeff
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~*~You are only one trade away from humility~*~
  • #490
  • Jun 24, 2009 6:05am Jun 24, 2009 6:05am
Hi Twee:

Much appreciated of your swift action on the said individual. Take care.

Have a good one
Jeff


Twee to Jeff

Thanks for reporting Jeff and he shouldn't be bothering the thread any
longer!

Keep up the good work!

Twee


-----Original Message-----
From: jharteam @ Forex Factory [mailto
Sent: Tuesday, June 23, 2009 1:51 AM
To: [email protected]
Subject: Re: Logilo

This is a message from jharteam sent via the Forex Factory website:

******************************

Hi Twee:

Wonder if you you can drop by the Andrew's Pitchfork thread and have a
judgement on this guy "logilo", he's been trolling on this thread and the
owner of this thread is too busy at the moment to attend the thread. Please feel free to ban him, if possible. take care.

Have a good one
Jeff
~*~You are only one trade away from humility~*~
  • #491
  • Jun 24, 2009 6:20am Jun 24, 2009 6:20am
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...
Rob:

Looked good to me. Your chart basically described selling a tested down sloping line--a classic entry. I have no problems with you grabbing profits.

Post away--no one is going to flame you if you are showing charts or trades or asking questions or giving insightful comments.

Question: How large was your stop, how did you deicde to place it, what was your risk reward ratio in your mind or on paper before you entered the trade?

Take care.

Tim
  • #492
  • Edited 10:34am Jun 24, 2009 7:45am | Edited 10:34am
Quoting TimMorge
Rob:

Looked good to me. Your chart basically described selling a tested down sloping line--a classic entry. I have no problems with you grabbing profits.

Post away--no one is going to flame you if you are showing charts or trades or asking questions or giving insightful comments.

Question: How large was your stop, how did you deicde to place it, what was your risk reward ratio in your mind or on paper before you entered the trade?

Take care.

Tim
Many thanks for your kind and encouraging words Tim!

I used the pivot high for my stop.

Risk reward ratio was just under 1:3 [by the time I entered] and although the stop was a LONG way away in pip terms, it fitted within my risk management rules.

I was happy with the trade, and VERY nearly reversed straight back into a long position!! That would have worked out nicely too!

Your book is due with me on Friday, so I have booked the whole weekend as "me" time in order to make a good start on it!

Thanks again,

Rob
  • #493
  • Edited 11:33am Jun 24, 2009 10:52am | Edited 11:33am
This is a trade I just took and partial positions are still running at the moment (06/24/2009, GMT 3:48pm) . I'm expecting the rest of my short positions will be hit soon, if the Median Line of the blue Up Sloping Andrew's Lines acts as the current intraday support. Take care.
Have a good one
Jeff
Attached Image(s) (click to enlarge)
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~*~You are only one trade away from humility~*~
  • #494
  • Jun 24, 2009 1:16pm Jun 24, 2009 1:16pm
Blue was entry. Red was initial stop. Green is current profit stop.
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Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #495
  • Jun 24, 2009 1:23pm Jun 24, 2009 1:23pm
Just lowered the profit stop to lock in a few more .
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Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #496
  • Edited 2:13pm Jun 24, 2009 2:10pm | Edited 2:13pm
Update: I thought I'd follow up and show you what happened after I posted the chart yesterday showing my trade. Please see previous post (the only chart I have posted this thread) where I anticipated a retest of the lower pitchfork.

Notice, how the price fell off the upper pitchfork after drifting for 1 day and the first pitchfork upper ML was retested today (zoomed in just to show the upper MD), over 200 pips. In live trading I traded both the move to retest the trendline and the bounce off the retest, more accurately picked up in 1 hr chart I posted live on EU thread.
Many pips today, as caught the lion's share.
Also on the EU thread you will see how I also traded another retest of upper ML projected from yesterday's trading.
I have discovered various techniques myself trading the pitchfork, some of which I later found already had been known. Great thread by the way, especially with Tim here.
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  • #497
  • Jun 24, 2009 2:43pm Jun 24, 2009 2:43pm
Price has a floor under it. Will be interesting to see what develops around the support area. I suppose that after such a "waterfall" there will eventually be a "splash" at the bottom or it becomes a two tier waterfall and cascades down to the lower red median line area. ?? I will definately keep an eye on my stops.

P.S. "waterfall, splash, two tier, cascades"... that must be technical talk, eh?
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Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #498
  • Jun 24, 2009 3:47pm Jun 24, 2009 3:47pm
@ fxhermit

Slightly OT, but you have a handy looking script there which tells you how long before the current bar ends.

You couldn't point me to it could you?

Many thanks,

Rob
  • #499
  • Jun 24, 2009 5:26pm Jun 24, 2009 5:26pm
Quoting Gt3rs
@ fxhermit

Slightly OT, but you have a handy looking script there which tells you how long before the current bar ends.

You couldn't point me to it could you?

Many thanks,

Rob
You could try these that I posted Sep 2008:
http://www.forexfactory.com/showthread.php?t=109305
"New very cool CandleTime and session time Clock indicators "

"P4L CandleTime.mq4" is what you want, but "P4L Clock.mq4" is also very handy for world session times that auto-correct for ST/DST regardless of which timezone you are in.

Pips4life
  • #500
  • Edited 6:39pm Jun 24, 2009 5:33pm | Edited 6:39pm
Profit stop adjustment to just above new market structure pivot.
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Stay calm, be brave, wait for the signs - Jasper Friendly Bear
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