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Andrews Pitchfork (Median Line)

  • #601
  • Oct 9, 2009 10:50pm Oct 9, 2009 10:50pm
i dont find the MT4 MLs stick very well (magnet) to price bars, often after drawing i need to determine pivot prices then reset the APF, because the APF hasnt drawn at the exact height or low

does anyone have a solution for this?

thanks

Peter
  • #602
  • Oct 10, 2009 10:41am Oct 10, 2009 10:41am
Does anyone have any advanced techniques in drawing and trading with median lines?
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #603
  • Oct 10, 2009 5:29pm Oct 10, 2009 5:29pm
go here

http://www.marketgeometry.com/?cat=6

Quoting kapital
Does anyone have any advanced techniques in drawing and trading with median lines?
  • #604
  • Oct 14, 2009 12:12am Oct 14, 2009 12:12am
classic ML set up generating an easy 50pips . . . . if in the right place at the right time
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  • #605
  • Oct 14, 2009 12:21pm Oct 14, 2009 12:21pm
Is anyone familair with Dr. Mircea Dologa and his advanced work with pitchforks?
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #606
  • Oct 14, 2009 11:46pm Oct 14, 2009 11:46pm
LAZY Z pattern

price climbs above central ML finding support, entry green-yellow, exit red-yellow at high probability fib zone (red horizontal), which often acts as significant resistance; +50pips available

takes a lot of patience and discipline to hunt hour after hour, waiting for one or maybe 2 opportunities a day . . . . the risk is forcing trades
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  • #607
  • Oct 15, 2009 2:50am Oct 15, 2009 2:50am
Quoting kapital
Is anyone familair with Dr. Mircea Dologa and his advanced work with pitchforks?
Did you do a Google search ?

Would be great to have a list of links and written material in 1 place....

Good trades.
Be like water.
  • #608
  • Oct 15, 2009 3:20am Oct 15, 2009 3:20am
these MLs were drawn 2 weeks ago and are still providing trade opportunities

entry yellow-red circle because:

1] price is finding convincing resistance at the green ML
2] as well as being forced back by resistance at the Fib Zone (bold red)
3] the formation of the price bar at 6am GMT is a strong signal that buyers have been unable to hold price above resistance, hence best entry bar is 6.20am GMT

exit yellow-green circle at +35 because:

1] potential support at purple horizontal
2] my exit target each trade is often b/w +20 and +40, +35 sat 5 pips above support
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  • #609
  • Edited 10:40pm Oct 15, 2009 6:50pm | Edited 10:40pm
to be a consistently profitable trader week after week is not easy,
and we can sometimes make it even more complicated and difficult with "sophisticated" computer generated indicators

myself, i prefer clean charts and simple tools that actually work

entry yellow-green because price has found solid support at the ML

exit yellow-red, just because it's the next point of resistance, +60 . . . . not rocket science!
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  • #610
  • Oct 16, 2009 12:34am Oct 16, 2009 12:34am
entry at yellow-green because price is expected to find support at the ML
exit at yellow-red just below previous high which could act as resistance, +35

** those big 100 pip, 200 pip moves are nice, but intraday trading for a living is mostly just chipping away, . . . . . a little here, a little there, . . . . . consistently, week after week, month after month, and year after year
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  • #611
  • Oct 16, 2009 12:55am Oct 16, 2009 12:55am
Yes, I understand the USD/JPY and the EJ move, I closed UJ now for about 16 pips. Do you always or most of the time use 20min TF charts, or do you decide mainly on drawing median lines on the 4HR ?

Thanks.
Be like water.
  • #612
  • Oct 16, 2009 1:10am Oct 16, 2009 1:10am
20 min for me, as a rule
  • #613
  • Oct 16, 2009 4:04am Oct 16, 2009 4:04am
UJ MLs provide a second entry opportunity

this time, price is having a second go at the prior high and coming back up, all the way from the ML, signalling strength, providing the confidence to hold to the upper ML, . . . . . +35

** on this chart, price is making higher highs and higher lows (uptrend!!) and is making a second attempt to get above the previous high; taking a few moments to analyse basic price action, is information I can use when weighing up if the probabilities favour my trade
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  • #614
  • Oct 19, 2009 2:43am Oct 19, 2009 2:43am
this is called a Lazy Z pattern (courtesy of Tim Morge)

this one is worth +40 pips to you if you can spot it in real time
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  • #615
  • Oct 19, 2009 2:53am Oct 19, 2009 2:53am
Quoting PeterE
this is called a Lazy Z pattern (courtesy of Tim Morge)

this one is worth +40 pips to you if you can spot it in real time
Thanks for an example. I noticed this in a webinar by Tim, he repeated that quite often. As i am a beginner with ML, I am amazed at the accruracy of the levels and confluence points. But the main point of uncertainty is to know or gauge how STRONG or WEAK the move is..... I would love to have an additional confirmation such as volume or momentum based indicators.

Until now I have the impression that it is very much a method of practice and hundreds/thousands of chart screen time. Which is what allows Tim to place really huge trades with confidence.....well as to me better to start now than never...:-)
Be like water.
  • #616
  • Oct 19, 2009 3:03am Oct 19, 2009 3:03am
i am often happy to use MLs all on there own, but if you want to add an indicator you might like to consider MTF Trix

i myself have been experimenting with this indicator and find it to be useful

http://www.forexfactory.com/showthre...83801&page=204

good luck
  • #617
  • Oct 19, 2009 3:58am Oct 19, 2009 3:58am
Thanks,

i have been meddling already with various MTF indicators...most of the time a Steinitz MTF, its free somewhere on forexoma.com. And gl-software.no offers one too.

But TRIX seems very interesting. As far as i can see some traders seem to use 2 indic windows, probably 2 additional TF ?

I find your idea of implementing additional tools that make sense from a market structure approach very good. At least thats what I want to do too.

BTW: I got a frist tentative signal on the 4HR for sell GBPUSD. Do you see also a further drop in GU today ?.

Many thanks again & I wish lots of success.
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Be like water.
  • #618
  • Edited 3:47pm Oct 19, 2009 4:31am | Edited 3:47pm
i dont trade 4hr so no solid view, but a quick glance suggests yes GU
'may' move down now, but dont hold me to it, it may also head higher

Quoting msmarple
Thanks,

i have been meddling already with various MTF indicators...most of the time a Steinitz MTF, its free somewhere on forexoma.com. And gl-software.no offers one too.

But TRIX seems very interesting. As far as i can see some traders seem to use 2 indic windows, probably 2 additional TF ?

I find your idea of implementing additional tools that make sense from a market structure approach very good. At least thats what I want to do too.

BTW: I got a frist tentative signal on the 4HR for sell GBPUSD. Do you see also a further drop in GU today...
  • #619
  • Oct 21, 2009 3:30am Oct 21, 2009 3:30am
The ML chart (20min chart at top) shows price finding support at what was resistance, yellow-green.

This ML set-up is not a ‘standard’ ML set-up for me and not one I’m comfortable trading on its own.

So I’ve employed the Trix indicator (5min chart at bottom), which signals support for a buy (pink line). [trix info @ http://www.forexfactory.com/showthread.php?t=183801]


The MLs and Trix combined stack the probabilities in my favour and encourage a buy at yellow-green

The exit target is resistance at the next ML at yellow-red, +100pips available
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  • #620
  • Oct 21, 2009 4:43am Oct 21, 2009 4:43am
the red ML is what i like to call a "what if" ML because it is in its infancy due to not having many confirmations at the MLs, . . . . this also means it is higher risk

one ML tenet is that when price reaches a ML it will either
1] move away from it in the opposite direction
2] consolidate at it
3] or zoom through it

in this example, price zoomed through the ML collecting my limit sell order


another ML tenet is that when price zooms through a ML there is a ~65% chance it will first come back to test the ML before heading away from it, knowing this i left my SL at -10 and set a TP at -3 pips, anticipating the test

price did come back to test the ML and i exited at -3 pips
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