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Andrews Pitchfork (Median Line)

  • #1,281
  • Edited 10:21pm Feb 17, 2010 9:38pm | Edited 10:21pm
what do you think of this possible entry? with exit before retest of lower red and middle blue?

edit
also looking at this eu daily/h4 long whats your opinion?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf-021810-1.gif Size: 28 KB
Click to Enlarge Name: eur-021810-1.gif Size: 30 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #1,282
  • Feb 17, 2010 10:24pm Feb 17, 2010 10:24pm
Quoting Scrutch
Perhaps this formation would shed some light on the subject...
I don't often trade the Beast...it has very sharp teeth and refuses to play nice.
Yes, makes much more sense, I have to really go back ( zoom out ) more, than find the Po/P1/P2 that encompasses all quite naturally. I also rarely trade gbpjpy, chaotic. I think Tim warns of gbpjpy and usdcad.

Thank you !
Be like water.
  • #1,283
  • Feb 17, 2010 10:28pm Feb 17, 2010 10:28pm
Quoting eaglestar
what do you think of this possible entry? with exit before retest of lower red and middle blue?

edit
also looking at this eu daily/h4 long whats your opinion?

Looks good to me, I would probably wait for retests for best entries.

Thank you.
Be like water.
  • #1,284
  • Feb 17, 2010 10:49pm Feb 17, 2010 10:49pm
I am also bias for the short side, but there isn't a setup yet, pattern wise and in terms of Andrew's Lines. The Down Sloping Violet Red's Slider is a tentative one until proven valid by a re-test. Up Sloping Black Andrew's Line is a Catalin; the little Up Sloping Black Andrew's is a Modified Schiff. Take care.

Have a good one
Jeff


Quoting eaglestar
what do you think of this possible entry? with exit before retest of lower red and middle blue?

edit
also looking at this eu daily/h4 long whats your opinion?
Attached Image (click to enlarge)
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~*~You are only one trade away from humility~*~
  • #1,285
  • Feb 17, 2010 11:33pm Feb 17, 2010 11:33pm
thanks for follow up. this may be good also.
Attached Image (click to enlarge)
Click to Enlarge Name: eur-021810-3.gif Size: 32 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #1,286
  • Feb 18, 2010 12:22am Feb 18, 2010 12:22am
Here is my view on EU hrly.

http://img175.imageshack.us/img175/4389/eu180210.png

Happy Trading
  • #1,287
  • Feb 18, 2010 8:17am Feb 18, 2010 8:17am
looking at this uj chart would put the 161.8 in near the low resistance hitting here at the 50% mark and a retest and fall would lead to good entry for possible abcd pattern and pitchfork completion near the red horizontal. any thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-021810-2.gif Size: 19 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #1,288
  • Feb 18, 2010 9:27am Feb 18, 2010 9:27am
Quoting eaglestar
looking at this uj chart would put the 161.8 in near the low resistance hitting here at the 50% mark and a retest and fall would lead to good entry for possible abcd pattern and pitchfork completion near the red horizontal. any thoughts?
nice energy point of both intersecting fork lines, and price is also at a good resistance point on the charts.
  • #1,289
  • Feb 18, 2010 10:11am Feb 18, 2010 10:11am
I see that. Thanks for pointing this out. Even I tend to believe red is a valid one but it is has to be tested before to be followed. For now, I'm still at the blue.

I have seen Tim Morge also trade this type AL on his latest free Monday session. Worthy enough to be trade imho since the RRR is wonderful.

Quoting eaglestar
looking at this uj chart would put the 161.8 in near the low resistance hitting here at the 50% mark and a retest and fall would lead to good entry for possible abcd pattern and pitchfork completion near the red horizontal. any thoughts?
Manage your risk accordingly and you're half done your home work.
  • #1,290
  • Edited 1:18pm Feb 18, 2010 1:02pm | Edited 1:18pm
I entered the area where the beast resides...
I stayed long enough to observe the pa of the beast...
I then placed an Andrews formation on this pa left by the beast...
I exited the same way that I entered after seeing the glint (looked like something between fireworks and a large bonfire) in the eyes of the beast...
If you've ever set through a few hundered pip move in less than a minute then you've met the beast...and you'll understand what I'm referring to.
I do NOT like the beast...and I do NOT like to trade the beast...

Edit:Hope you understand the above is humor and not trying to slight you in any way...?
Quoting eaglestar
nice fork where did you enter and exit bro?
On a lighter note here's my efforts for this am...looking for a small push here for an exit, depending on what it looks like and how close it comes to my third profit target will determine my staying long or a total exit.
30p profit targets...average if I were to exit right now is 35.3p's.
Attached Image (click to enlarge)
Click to Enlarge Name: EU-02-18-10_M15.JPG Size: 721 KB
Listen to the whispers.... You may learn something
  • #1,291
  • Feb 18, 2010 7:26pm Feb 18, 2010 7:26pm
EU hrly update .MY TSL got hit didn't able to reenter. But i think it still have some more downside left.

http://img254.imageshack.us/img254/6213/eu190210.png

Happy Trading
  • #1,292
  • Feb 19, 2010 12:28pm Feb 19, 2010 12:28pm
Nice pips on EJ today
Attached Image (click to enlarge)
Click to Enlarge Name: EJ-02-19-10-M15.JPG Size: 400 KB
Listen to the whispers.... You may learn something
  • #1,293
  • Feb 20, 2010 10:05am Feb 20, 2010 10:05am
Scrutch very nice and clear, where did the Po pivot for that upsloping dark blue fork initiate ? Did you take the long position as it seemed to be a retest of the inner parallel line ( sloping upwards ) or candle stick formation ? Thanks.
Be like water.
  • #1,294
  • Feb 20, 2010 1:05pm Feb 20, 2010 1:05pm
P0...Low of Feb 05
P1...High of Feb 09
P2...Low of Feb 18
Entry was initated from the retest of a sliding parallel of the 1/8 Quantile line...perhaps not by the book but it works. Notice how this SP was being respected even before the P2 point and afterwards. While it didn't quite tag the SP it was very close and I did not blindly enter this trade on a touch of the SP. Notice the green'ish line above the double bottom at the SP. This was my entry...after confirmation...I waited until the prior high was taken out to enter. Took partial profit at the 1/4 Quartile line (124.50'ish), again at the resistance level (124.75'ish)...then all out (watching a M1 chart) when the second stab at the resistance failed. Also was getting close to Friday afternoon close and I didn't want to hold this over the weekend.

If you have any desire to trade the EJ please make a note:
While the Andrews shows tremendous support/resistance areas...also pay close attention to the Quartile price levels. Appears that there is a tremendous amount of buying/selling going on at the nnn.00, nnn.25, nnn.50 and nnn.75 levels. This was passed to me by an excellent trader and I pass it along here as well...do with it as you will.
If you look at the chart you can see that there's buying above 124.25, indecision at 124.50 and selling above 124.75. Yes, I watch PA for an entry and/or exit...use candles because it's easier for me to see what's going on. I take note of a few candle formations but most of my concentration is from candle to candle.

Quoting msmarple
Scrutch very nice and clear, where did the Po pivot for that upsloping dark blue fork initiate ? Did you take the long position as it seemed to be a retest of the inner parallel line ( sloping upwards ) or candle stick formation ? Thanks.
Listen to the whispers.... You may learn something
  • #1,295
  • Feb 21, 2010 8:42am Feb 21, 2010 8:42am
Is there a recommended number of warning lines for a fork before deciding they are unuseful?
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,296
  • Feb 21, 2010 8:50am Feb 21, 2010 8:50am
QUESTION:

Did Dr. Andrews ever realize that a hagopian line has the same slope as a modified schiff?
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,297
  • Feb 21, 2010 2:41pm Feb 21, 2010 2:41pm
The hagopian line is actually the trigger line on an Andrews formation. When you rotate the P0 to the mid point of P0~P1 time and price, then the outer median line occupies the same position as the Andrews formation trigger line. Some use a formation built off the trigger line with parallels...seems to work very well (at times) on a major breakout.
Quoting kapital
QUESTION: Did Dr. Andrews ever realize that a hagopian line has the same slope as a modified schiff?
Listen to the whispers.... You may learn something
  • #1,298
  • Feb 21, 2010 2:48pm Feb 21, 2010 2:48pm
Not that I know of...this may sound a bit simplistic but they are useful until they are no longer useful...? Even when Andrews lines are no longer useful, but are left on the chart, one day you will find that PA returns to them and they are useful again...seems like they never die, just taking a rest for a bit.
Quoting kapital
Is there a recommended number of warning lines for a fork before deciding they are unuseful?
Listen to the whispers.... You may learn something
  • #1,299
  • Feb 21, 2010 8:02pm Feb 21, 2010 8:02pm
Haha, great explanation Scrutch, that's exactly how I feel about them. Take care


Quoting Scrutch
Not that I know of...this may sound a bit simplistic but they are useful until they are no longer useful...? Even when Andrews lines are no longer useful, but are left on the chart, one day you will find that PA returns to them and they are useful again...seems like they never die, just taking a rest for a bit.
~*~You are only one trade away from humility~*~
  • #1,300
  • Feb 21, 2010 10:12pm Feb 21, 2010 10:12pm
Quoting Scrutch
P0...Low of Feb 05
P1...High of Feb 09
P2...Low of Feb 18
Entry was initated from the retest of a sliding parallel of the 1/8 Quantile line...perhaps not by the book but it works. Notice how this SP was being respected even before the P2 point and afterwards. While it didn't quite tag the SP it was very close and I did not blindly enter this trade on a touch of the SP. Notice the green'ish line above the double bottom at the SP. This was my entry...after confirmation...I waited until the prior high was taken out...
Thanks, excellent. Very helpful.

Good trading to all this week.
Be like water.
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