Andrews Pitchfork (Median Line)

Love it Personalme. With Cobra's THV, it works well with the Andrew's set as well.

fortunely, i saw this thread. i draw my pitchfork to plan my trading on eur/usd. is it right or not, what i have draw? i see it's little diffrent with other's pitchfork. thank's in advance.

Thanks! Somehow i cannot reproduce it. It might just be a difference in broker feeds. As long as it work fr you! It really seems in tune.

Your P0 should lie on an actual pivot, or equal in price and time with other pivots or at half way in time and price between two pivot. On your chart it's out in the blue.. I suggest you read the thread by it's beginning.

Thanks Jeff, you're blushing me on . You and Scrutch are the men I owe to gave me the foundation how to use Andrew's Line. I never forget that.

And continuing what eaglestar ask. I'm wondering how do you integrating your trading technique. I know you are a practitioner of Andrew's Line and Harmonic patterns (a very good indeed). If I may ask, how do you use it to trigger the entry, putting SL and managing your trade (scale in/ out, averaging down/up, etc)? And also do you trade it in a mechanic way or simply a discreet trader with your more than 5 yrs gut feeling experience?

Hope I'm not going too far with the questions. Just ignore this post if I'm passing your line. Thanks before Jeff.

Hmm.. just my opinion:

personalme,
thank you, i think i will get clearer now

Hi Personalme:

Let's say a POTENTIAL ('cause it can always later on being transpired into a failed pattern, that's part of the deal when we trade, no choice) Gartley 222 is spotted. AND if there are POTENTIAL Lower Up Sloping Median Line, Sliders, Warning Line and Energy Point around the vicinity of the completed Gartley pattern; I'll check out to see if the higher time frames are still demonstrating a bullish stance. Let's assume it's all green light there, I would go to the lower time frame to search for a pattern (not necessarily a harmonic pattern) to gauge my entry. Once I executed the trades, stop losses are easy; as a general rule, just 10-20 ticks below the most recent pivotal. It's just a personal thing, I don't scale in, I just enter my desired lots; the stop is in place to take care of the down side of things. I don't like scaling in or averaging up based on the rationale that, if we trade with and believe in the Andrew's Lines; it has already given us the minimum exposure when the market turns against us. Once the trades are in the monies; depends on the situation; I would move to break even; but if there aren't enough room, pattern wise, for me to do so, the original stops will remain intact. When target is hit, that is, the next higher Median Line or Warning Line is hit, I would scale out half of my positions as we KNOW that there will be 'reactions' in those areas. And the rest of positions will be at break even 'plus' areas. At times, I would take 100% of the profit off the table immediately if the up move looks suspiciously corrective to me. I am a 100% discretionary trader, I don't believe in mechanical trading systems. The market is a breathing, living entity just like a human being with various characteristics and 'mood swings'; people who believe in MTS are essentially making an attempt to quantify and 'tame' this 'living entity' with their 'dreamed up' variables. Btw, people tend to hate Elliott Wave due to the 'fact' that they are so subjective. To me, it is the 'subjectivities' and flexibility in wave counts that lend respect and practicality to this methodology. I hope I have addressed your queries. As I have mentioned previously, I'm not good at substituting my thoughts with words. Take care.

Have a good one
Jeff

Hmm pretty clear to me. So the bottom line is you are looking more than one evidences (harmonics, larger TF, pattern) to get higher probability entering a trade while managing your risk with AL, correct?

It takes time to chew ALL of your point just like what you taught me at Cobra's private forum. The "aha" moment doesn't come in one night for my reptilian brain.

About the scale in/out idea, though Andrew's Line give pretty nice RRR, I'm looking at it since it is alternative ways to maximizing the profit. But so far I dont see AL traders do this technique. Will test it though.

I'll keep your thought since you start the journey far before me. Once again I'll keep pearls you've given. Thanks a lot Jeff.

Whatever happened with this?

my target was reached, but i was sitting thru some heat....and of course I missed the audusd rise.

I didnt check about the chat, will do later today.

Good trading to all, jhar`s post is pure knowledge....thank you.

marple, on your EURUSD, which median line is the valid one in your opinion? Blue or red?

Mine is just sitting on the upper line and my bias is still bearish at least until 1.37 breached. Still use last 2 weeks AL.

I stand aside, possibly losing steam ? I am never lucky if I try to jump in late....

I think your fork is more valid, or generally all forks that include the major pivot on 2/3 december, as jhar ( or Scrutch ) pointed me to, as they integrate the major moves since then. My intraday examples on the chart are just minor variations and a way for me to practice watching price action from different angles ( classic AL, Schiff etc. ). So better ask Scrutch, jhar -or mathematical geniuses like auxesis

Good luck.

Time will tell it. I'm not shorting EURUSD at the moment though technically still see it as only correction bullish move.

Currently I'm longing USDJPY. It's hard game though. Has been sit here for 3 hours and it moves only 13 pips while i'm writing this .

We have same AUDJPY AL btw

I find UJ difficult to trade. I read USD is getting stronger across the board - but then UJ drops....or doesnt move. I read commercials are net long on UJ, I buy UJ, then an article says only big players with deep pockets can hold on to this, as first all smaller players are shaken out again and again. Then they say big players are buying at cheap levels to prepare for the US rate hike....etcetc.

The " pair to trade " today seems to be aud.... and I missed it.

Good luck :-)

usdcad daily, bias is down... ?

Lol, cant say more than that. In many parts I have to agree with what you said. But I try to see every pair as an independent chart it self. Therefore, I wont mind if I go short Cable meanwhile I long EURUSD.

The bottom line is I trade my UJ based on only technical analysis. It is a simple AL analysis and with tight SL since I dont see any volatility expansion today.



USDCAD? Ah yes, my bias last week is long, but Monday, I have to change my AL with bearish bias. Will see how to exploit the Bearish band.

Hi Ms and Personalme:

For Eur/Usd, the shorts is a valid one but I'm a little wary of the highlighted overlapping pattern in the hourly time frame. Right now, we can go for a BE stop for the short, ...no love lost...Also, I have had longs for the Gbp/Usd since yesterday and this morning. The said pair is trying darn hard to bottom out. Nothing has been added to the Gbp/Usd 15-min time frame, still vibrating well within those Andrew's Lines. Personal, please check out the 15-min Gbp/Usd, perhaps, under such circumstances, the averaging up strategy should work out beautifully. Take care. Happy Chinese New Year Of The Tiger.

Have a good one
Jeff

Hmm... averaging up along the up lower median line ? I'm thinking averaging up on highly volatile condition such as last Friday. Will count the exact number how to do this in a waving condition. I see this slight bullish trade but dont enter it. 1.5717-1.530 resistance seems hard to break.

Are we still be here all day long? Lazy lazy lazy pa.

jhar and personalme, thank you....this is what it takes to go from theory to real. More charts later if time permits. Good luck.

" A smart rabbit has 3 entrances to his dwelling, and 3 exits ."
( Chinese Wisdom )