Very impressive for me as a beginner in AP/ML to see this....Andrews, Gann & Fibonacci were probably geniuses in their own way.
Be like water.
- #841
- Dec 30, 2009 5:21am Dec 30, 2009 5:21am
- Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts
- #843
- Dec 30, 2009 9:27am Dec 30, 2009 9:27am
- Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts
Be like water.
- #845
- Dec 30, 2009 11:39am Dec 30, 2009 11:39am
Sounds like simple enough questions...might take several pages to answer though 
. While my major formations have their anchors set to the daily chart I am always drawing mini formations on the lower time frames to test the direction but seldom post them. The main thing here is to know the direction of the trend and know that if you're trading against the trend, you should expect smaller moves and adjust your stops and profits differently. Nothing wrong with buying while the major trend is down, just manage you stops and profits acordingly.
Looking at the daily (will post a cable chart) I see that the GU has taken out the high of yesterday. This (to me) is showing a lot of strength...but has it used up all of it's strength just getting there. I missed this nice move in cable and not sure if I would have picked up on it had I been watching it...it's pretty easy in hind sight.
On my chart it's moving above the UML of the medium term formation and approaching the upper quartile of the longer term formation. Has it found a bottom...?...short term, yes. Will it hold...?...look for the next daily bar to take out today's high (without taking out today's low) and you have a confirmed one day low pivot. Doesn't mean the market is going to zoom straight up, but it's a place to start.
. While my major formations have their anchors set to the daily chart I am always drawing mini formations on the lower time frames to test the direction but seldom post them. The main thing here is to know the direction of the trend and know that if you're trading against the trend, you should expect smaller moves and adjust your stops and profits differently. Nothing wrong with buying while the major trend is down, just manage you stops and profits acordingly.Looking at the daily (will post a cable chart) I see that the GU has taken out the high of yesterday. This (to me) is showing a lot of strength...but has it used up all of it's strength just getting there. I missed this nice move in cable and not sure if I would have picked up on it had I been watching it...it's pretty easy in hind sight.
On my chart it's moving above the UML of the medium term formation and approaching the upper quartile of the longer term formation. Has it found a bottom...?...short term, yes. Will it hold...?...look for the next daily bar to take out today's high (without taking out today's low) and you have a confirmed one day low pivot. Doesn't mean the market is going to zoom straight up, but it's a place to start.
I basically have the same question. Also, I would like to know if there´s any early warning sign of price moving slowly out of the main pitchfork ( aka " changing behaviour " ). When do you decide it`s still a move inside the sliding parallel lines and when an early sign of moving " out "....?
below : GU, has it found a bottom and is it now moving out of the influence of the center line ?
Listen to the whispers....
You may learn something
- #846
- Dec 30, 2009 12:04pm Dec 30, 2009 12:04pm
- Joined Oct 2008 | Status: Just be the witness. | 1,089 Posts
Thank you, yes I guess I will have to get used to watching the Daily as well, and starting to draw formations from there. I like the way you have the main lines of higher TF, giving you a bigger perspective on the medium-term smaller lines.
GU had a run up, see 4H, but unfortunately I only caught a few pips. It would be interesting to know if the UML acts as a barrier, or if the move goes to 1.6127 or even higher. I will look for PA on lower TF`s then.
This obviously takes a lot of experience, but better now than never......
Thank YOU and Happy New Year !
GU had a run up, see 4H, but unfortunately I only caught a few pips. It would be interesting to know if the UML acts as a barrier, or if the move goes to 1.6127 or even higher. I will look for PA on lower TF`s then.
This obviously takes a lot of experience, but better now than never......
Thank YOU and Happy New Year !
Be like water.
- #848
- Dec 30, 2009 12:33pm Dec 30, 2009 12:33pm
I've spent the morning with the EU and it is showing a similar move to the GU...shorted early on and moved to the long side about 90m's ago. Posting a M5 chart that's probably confusing to most (because very few anchors are shown) and it's starting to show weakness. Want to see a push above the 1.4360ish (brown line) before I get excited about another long. When I'm on the lower time frames I pay attention to price action, then the Andrews lines. Will take a short here if I get confirmation.
Yes, it takes a lot of screen time to get cozy with what the AML's are trying to tell you but well worth the effort (imho)...and you're welcome.
Thank you, yes I guess I will have to get used to watching the Daily as well, and starting to draw formations from there. I like the way you have the main lines of higher TF, giving you a bigger perspective on the medium-term smaller lines.
GU had a run up, see 4H, but unfortunately I only caught a few pips. It would be interesting to know if the UML acts as a barrier, or if the move goes to 1.6127 or even higher. I will look for PA on lower TF`s then.
This obviously takes a lot of experience, but better now than never......
Thank YOU and Happy New Year !
Listen to the whispers....
You may learn something
- #855
- Dec 31, 2009 10:15pm Dec 31, 2009 10:15pm
- Joined Oct 2009 | Status: magic | 1,729 Posts
hello fellow forkers,
good to see some posts in the dying days of 2009.
hopefully this spills over into 2010 and we can get some consistent momentum in this thread.
myself, i'll be back trading from Jan 4th, and will put up some trades/charts as they appear.
MLs have so much to offer, a fantastic tool, would enjoy sharing the experience with other keen forkers in 2010, ......see you there
good to see some posts in the dying days of 2009.
hopefully this spills over into 2010 and we can get some consistent momentum in this thread.
myself, i'll be back trading from Jan 4th, and will put up some trades/charts as they appear.
MLs have so much to offer, a fantastic tool, would enjoy sharing the experience with other keen forkers in 2010, ......see you there
- #856
- Jan 1, 2010 2:59pm Jan 1, 2010 2:59pm
Hi all
If anyone want more info from Tim i think everyone know about Median Line but here you have lot of free video from Tim, if you register as a free member on member page you have all the free video archive.
Is good to watch and i hope will be helpful for everyone.
Catalin
Hi JustCatalin an other forkers. I have recently become an AP unconditional and looks forward learning everything related. So count me in this thread as a follower.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
- #858
- Jan 1, 2010 5:43pm Jan 1, 2010 5:43pm
By unconditional, i mean i am totally convinced. I have been trading for 4 years now, as every one else i have played with the tool a bit without really knowing how to use it in my beginnings. It's only recently after having read "The Best Trendline Methods of Alan Andrews and Five New Trendline Techniques By Patrick Mikula " that my trading have really improved. I have done a lot of Fibonacci and Elliot waves trading but was never really satisfied with my trading skill untill now that i am applying the pitchfork.
The fibo Channel inside my pitchfork is automatically drawn by my indicators. It's use to forecast the price in time. I use Nen simplified MTF zigzag but you can also use the Zup indicator to draw the pitchfork.
The fibo Channel inside my pitchfork is automatically drawn by my indicators. It's use to forecast the price in time. I use Nen simplified MTF zigzag but you can also use the Zup indicator to draw the pitchfork.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
- #859
- Jan 1, 2010 6:05pm Jan 1, 2010 6:05pm
happy new year
and
happy trade for everyone
---------
forks andrews
- #860
- Edited 5:09pm Jan 3, 2010 2:13pm | Edited 5:09pm
I have read the entire thread and have drawn quite a lot of forks already. Some questions remains unanswered i would like to ask here. At the beginning of the thread, Catalin have shown us his modified forks initiating the ML verticaly equal to p0, horizontally equal to p2. I use this method whenever p0-p1 have a wider price range then p1-p2. I found the ML is hit more frequently this way, if it does get hit then I draw a regular pitchfork just to see if this one will get hit too, if not then can we use the "price failure" rule or should we expect the price to continue respecting the modified fork?
Also, entry remain unclear. What is the best method to determine p2 have been drawn and we can take the trade to ML? I read about minifork and other methods but often when i have my confirmation price have already travel to far for risk ratio to be proper. I would really like to have your suggestions/solutions on this. Meanwhile here is a gold daily chart, i put a catalin fork on it. Price seems to respect lower trend line, would that be enough confirmation to go long with a very interesting R/R?
Also, entry remain unclear. What is the best method to determine p2 have been drawn and we can take the trade to ML? I read about minifork and other methods but often when i have my confirmation price have already travel to far for risk ratio to be proper. I would really like to have your suggestions/solutions on this. Meanwhile here is a gold daily chart, i put a catalin fork on it. Price seems to respect lower trend line, would that be enough confirmation to go long with a very interesting R/R?
Harmonics and Pitchfork using korHarmonics from TradingArsenal