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Andrews Pitchfork (Median Line)

  • #1,301
  • Feb 22, 2010 1:36am Feb 22, 2010 1:36am
Quoting Scrutch
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.
I actually like to draw them especially in lower timeframes and range bound situations, but just as a visual reference. It`s probably not text book. All warning lines and trigger line parallel lines do however lose their " strength " the further out they are, and its easy to get hooked to some outer lines, whereas it would be better to think about the validity of the originating fork - possibly redraw. But I am only a beginner with ML / AP.
Attached Image (click to enlarge)
Click to Enlarge Name: gufeb22min15@0723gmt.jpg Size: 196 KB
Be like water.
  • #1,302
  • Feb 22, 2010 11:23am Feb 22, 2010 11:23am
Never heard that before hehe. When first time heard the name, I thought it was name for an ancient tribe near amazon river .

Anyway, is it just me? Most of pairs are stalling and do nothing today. Bagged only 18 pips so far with 3 hrs trading time lol. I am not trading EJ temporary since cant find correct bias and correlation between UJ and EU. Scrutch is the man for this pair. Know it many days ago on THV thread.

Quoting msmarple
I actually like to draw them especially in lower timeframes and range bound situations, but just as a visual reference....
Manage your risk accordingly and you're half done your home work.
  • #1,303
  • Feb 22, 2010 3:07pm Feb 22, 2010 3:07pm
Something taht you dont want to miss if you really like median line
Watch the session from today its free Shane on median line
You dont have to register.

Really dont miss this.
Shane is great mentor and he keep a daily session but this session is free because is monday

Im still waiting for my internet connection at my new home then im back on my trading.
Regards
Catalin
  • #1,304
  • Feb 22, 2010 3:13pm Feb 22, 2010 3:13pm
gotta say this is my first exposure to pitchfork analysis wonder why i havent come across this before..
  • #1,305
  • Feb 22, 2010 8:57pm Feb 22, 2010 8:57pm
Anybody riding this beast GJ 240
Mirror bars with retest

http://img138.imageshack.us/img138/1107/gj3.png

happy trading you all
TAQ
  • #1,306
  • Feb 22, 2010 9:19pm Feb 22, 2010 9:19pm
In order for the 'outer lines' (Warning Lines) to capture or control the price actions of the markets, it is important to consider the 'validity' of the original Andrew's sets; specifically, if the original Andrew's sets have very good vibrations on price actions; the Warning Lines of the said Andrew's sets will very likely to control the price actions of the market 'further down the road'. Please have a look at the Gbp/Usd, I haven't changed a thing at all and it is still the same Black Up Sloping Andrew's sets that I have had shown a few pages back. Yes, of course, you can always re-draw a new set to capture the current price actions (in this case, using a Catalin fork). As for me, I wouldn't bother to do so as the Warning Lines of the 'original Andrew's Lines' are still controlling price actions seamlessly (They vibrate even better than using a new Catalin fork). Again, it's a personal preference, to re-draw or not to re-draw, it's your personal take. Take care.

Have a good one
Jeff

Quoting msmarple
I actually like to draw them especially in lower timeframes and range bound situations, but just as a visual reference. It`s probably not text book. All warning lines and trigger line parallel lines do however lose their " strength " the further out they are, and its easy to get hooked to some outer lines, whereas it would be better to think about the validity of the originating fork - possibly redraw. But I am only a beginner with ML / AP.
Attached Image (click to enlarge)
Click to Enlarge Name: Gbp02232010 (i).gif Size: 32 KB
~*~You are only one trade away from humility~*~
  • #1,307
  • Edited 4:16am Feb 23, 2010 12:00am | Edited 4:16am
Dont know how others look at this pair. But my longer term tendency for the pair is still bear even though in short term we may move slightly bullish. I personally take my eyes on 141.00 line when price seems hard to breach the line. And.. btw, we have triangle here. Will enter long for short term if 141.00 dont breach with small SL.

Either way, bear is still in play if sup is breached. Ok ok, I dont want to confuse everyone here, just look at my chart and make your own interpretation.

my pivot point before someone ask me:
P0 :2010.01.20 03:00 (147.54)
P1 :2010.01.22 15:00 (144.59)
P2: 2010.01.25 20:00 (147.28)

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy30min.gif Size: 47 KB


I'd love to hear others view on the pair. Please share if you have any

add:
hope some one here take that down move. I cant enter again since my MM doesnt allow it. I'm at cable bearish. Full lot and add second short later.

Attached Image
Manage your risk accordingly and you're half done your home work.
  • #1,308
  • Feb 23, 2010 6:53am Feb 23, 2010 6:53am
Quoting justcatalin
Something taht you dont want to miss if you really like median line
Watch the session from today its free Shane on median line
You dont have to register.

Really dont miss this.
Shane is great mentor and he keep a daily session but this session is free because is monday

Im still waiting for my internet connection at my new home then im back on my trading.
Regards
Catalin
I watched this and it was REALLY good. And amazing how freely he " experimented " with pure trendlines and showed that understanding market structure and the context is important. Lastly, very good example ( that was me :-) ) of redrawing forks because one is convinced that the market is still trending down, whereas a simple trendline and resistance breakthrough would have shown the change in behaviour....
Be like water.
  • #1,309
  • Edited 7:03am Feb 23, 2010 7:02am | Edited 7:03am
Quoting jharteam
In order for the 'outer lines' (Warning Lines) to capture or control the price actions of the markets, it is important to consider the 'validity' of the original Andrew's sets; specifically, if the original Andrew's sets have very good vibrations on price actions; the Warning Lines of the said Andrew's sets will very likely to control the price actions of the market 'further down the road'. Please have a look at the Gbp/Usd, I haven't changed a thing at all and it is still the same Black Up Sloping Andrew's sets that I have had shown a few pages...
Jhar, thanks. Yes, I understand. But that works IF and ONLY when a really excellent Po/P1/P2 set has been " discovered ". Which is still a matter of experience....

Thank you !
Be like water.
  • #1,310
  • Feb 23, 2010 8:34am Feb 23, 2010 8:34am
No...I have no view at all on that pair...
I do however have a view on the EurJpy.
Posting two charts here as one needs to look to the M1 for retest and confirmation. Remember...I'm a scalper, I trade the long term stuff via options on the futures.
Quoting personalme
I'd love to hear others view on the pair. Please share if you have any
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EJ-02-23-10-M15.JPG Size: 471 KB
Click to Enlarge Name: EJ-02-23-10-M1.JPG Size: 382 KB
Listen to the whispers.... You may learn something
  • #1,311
  • Feb 23, 2010 11:29am Feb 23, 2010 11:29am
Nice one Scrutch. Didn't know you watch 1m chart too. Is it H&S on your 1st chart? One good thing about scalper is they are the most opportunist trader when talking about trend. My bias is still bullish when this large drop happen. Lol, wrong train but no negative on that since I'm not trading it at the moment.

Quoting Scrutch
No...I have no view at all on that pair...
I do however have a view on the EurJpy.
Posting two charts here as one needs to look to the M1 for retest and confirmation. Remember...I'm a scalper, I trade the long term stuff via options on the futures.
Manage your risk accordingly and you're half done your home work.
  • #1,312
  • Feb 23, 2010 11:54am Feb 23, 2010 11:54am
Though i made my day with cable short, I got minor burn on some trades. This one is the most frustrating trade for today.

Chart 1:
Attached Image (click to enlarge)
Click to Enlarge Name: audusd4h.gif Size: 44 KB


This is my 4h chart and as you can see I put one big red AL on that. It is not validated yet when trade is taken but I'm pretty sure it will since there is also good resistance around 0.9028 area. Note also there is orange AL which is made on 15m chart. Still active AL.

Lately I also put fib line and find the 61.8 is at 0.9044.

Now from this 2 resistance, I'm quite sure the card played will be slight bull then followed with momma bear in the end. So the trade is taken:

Short AUDUSD @ 1.9029 (at resistance line) and SL @ 1.9046.

I put the SL just little above 61.8 fib line since I'm quite sure PA wont run too far from it and this double res line + red AL will hold it.

Now lets see my 15m chart for closer look and conclusion:

Chart 2:
Attached Image (click to enlarge)
Click to Enlarge Name: audusd15m.gif Size: 35 KB


Ok you know, the result is I got loss. -20 pips. And guess what? The minor Orange AL hold the Bull before it dropped!!

Well loss is a loss, if I put my SL bigger or have better entry the result will be many many different now. AUDUSD dropped more than 150 pips from the move and many possibilities to reenter the short to double the profit.

I got my lessons today:
1. My red AL is on 4h chart, on 4h view, this red AL is still a valid one. Price is gravitated around the line but my SL is too small since it is 4h tf.

2. When I said the trade is executed on 15m chart, if this is my talk, then the trigger should be on my orange AL since this is my active AL on 15 min chart.

3. There was Mr Battellino speaks. lol my bad...may bad

So the conclusion is, if I need to stay on my 4h plan, the SL will also on 4h plan. 50-70 pips SL will be fine. But if I wanna trade it on 15min, I should find better entry.

Anyone trade this AUDUSD drop? Mind sharing me your opinion or another view?
Manage your risk accordingly and you're half done your home work.
  • #1,313
  • Feb 23, 2010 1:52pm Feb 23, 2010 1:52pm
Yes...Shampoo big time (H&S)...What I was watching was the prior penetration of the LML and then a few hours later the hurdle (zoom) of the LML. I used the m1 to watch the retest and get me entry, then back to the m15 to manage the trade via prior pivots. I've moved my stop down six times since entry...

You can see the ML (red'ish) of my long term formation in the first chart...so I know the major is down and my longs are all counter trend trades and require caution. This trade is with the major trend and quickly developed into a vertical move, right after the train left the station...sweet!

Quoting personalme
Nice one Scrutch. Didn't know you watch 1m chart too. Is it H&S on your 1st chart? One good thing about scalper is they are the most opportunist trader when talking about trend. My bias is still bullish when this large drop happen. Lol, wrong train but no negative on that since I'm not trading it at the moment.
Listen to the whispers.... You may learn something
  • #1,314
  • Feb 23, 2010 3:04pm Feb 23, 2010 3:04pm
Quoting jharteam
In order for the 'outer lines' (Warning Lines) to capture or control the price actions of the markets, it is important to consider the 'validity' of the original Andrew's sets; specifically, if the original Andrew's sets have very good vibrations on price actions; the Warning Lines of the said Andrew's sets will very likely to control the price actions of the market 'further down the road'. Please have a look at the Gbp/Usd, I haven't changed a thing at all and it is still the same Black Up Sloping Andrew's sets that I have had shown a few pages...
Based on the chart you posted, what were your entries (if any)?
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,315
  • Feb 23, 2010 3:17pm Feb 23, 2010 3:17pm
Quoting personalme
I'd love to hear others view on the pair. Please share if you have any
Green - Original
Blue - Modified Schiff
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 15.GIF Size: 38 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,316
  • Feb 23, 2010 4:16pm Feb 23, 2010 4:16pm
Hello all! NZD here at an interesting level. I don't know if any of you guys and gals are interested by Daily charts?

Attached Image (click to enlarge)
Click to Enlarge Name: nzd23fev.gif Size: 44 KB
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #1,317
  • Feb 23, 2010 5:54pm Feb 23, 2010 5:54pm
Hi all, im as really tired all day because my eyes are glued to the all my pairs but i dont have any pricking trade. So finnally i have 2 . Here are my charts.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 2-23-2010 5-21-56 PM.png Size: 68 KB
  • #1,318
  • Feb 23, 2010 6:33pm Feb 23, 2010 6:33pm
Here is something im watching USDCHF
Attached Image (click to enlarge)
Click to Enlarge Name: 2-23-2010 7-31-55 PM.png Size: 57 KB
  • #1,319
  • Feb 23, 2010 7:29pm Feb 23, 2010 7:29pm
Quoting nguyennguyen
Here is something im watching USDCHF
Price had broken the pink fork. Is it still important to keep on there?

thanks
  • #1,320
  • Feb 23, 2010 7:36pm Feb 23, 2010 7:36pm
Quoting big_pipin
Price had broken the pink fork. Is it still important to keep on there?

thanks
It broke outside of the pink but price pulled back to it and it prove a really good resistance. Did u watch the Shawn morning free monday section. We deconstruct the pitchfork. the basic of the line is price usually break out of it and most of the the they will attract the price pull back to it be4 its keep move on. Hope that help.
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