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Andrews Pitchfork (Median Line)

  • #1,541
  • Edited 1:22pm Mar 31, 2010 7:31am | Edited 1:22pm
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  • #1,542
  • Mar 31, 2010 8:49am Mar 31, 2010 8:49am
This setup seems to be working okay ( I mean as expected), just need a little more confirmation ( I mean atleast one more touch on the magenta fork)
Attached Image (click to enlarge)
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Let someone arise from my bones as an avenger. Jesse Livermore
  • #1,543
  • Mar 31, 2010 9:51am Mar 31, 2010 9:51am
big_pipin, Forks are actually based on action reaction lines developed by Babson. Andrew took the concept from Babson and done research on it and developed pitchfork.
So in effect every pitchfork is developed from action reaction lines.
Look at the GBPUSD chart.

Also watch this presentation by Tim Morge
http://rs6.net/tn.jsp?e=001cNIv73zlV...Wiz5s72WL9CmFj

EDIT:

BTW some serious buying going on in EURUSD, last 11 hours all positive bars.

Quoting big_pipin
how are those red lines a fork? Looks like you just made a channel and copied it several times ?
Attached Image (click to enlarge)
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Let someone arise from my bones as an avenger. Jesse Livermore
  • #1,544
  • Mar 31, 2010 9:54am Mar 31, 2010 9:54am
took this trade for a small profit today 74 pips. worried about the nu rolling over. lets see.
Attached Image (click to enlarge)
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #1,545
  • Mar 31, 2010 10:38am Mar 31, 2010 10:38am
Quoting msmarple
Excellent, thank you !

On the second nzdusd, do you use fib extensions to further estimate how far the move will go ? I have tried that, but until now I still miss a reliable way to apply this, all books and teachers show more or less contradictory methods. So as fascinating as fibs are, the forks seem to give us THE most reliable fundament......
I use fib expansions/measured moves like you see in Shanes and PaulC videos. Take care mate Sometimes they land on a fib number. Read Robert Miner High Probability Trading Techniques on 4shared or get Dynamic Trading Workshop off of torrentz Another good one is Brian Tracy phoenix seminar ebooks.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #1,546
  • Mar 31, 2010 10:50am Mar 31, 2010 10:50am
eurusd 15m fork may be promising.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-033010-6.gif Size: 32 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #1,547
  • Mar 31, 2010 1:23pm Mar 31, 2010 1:23pm
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  • #1,548
  • Mar 31, 2010 1:40pm Mar 31, 2010 1:40pm
Interesting to see where you have the upsloping green fork.


On 4h usdchf there might be a promising turn back up sometime this week...

Thanks.
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Be like water.
  • #1,549
  • Mar 31, 2010 4:40pm Mar 31, 2010 4:40pm
I dont think I understand the need for some of this stuff tim is teaching...

forks, sliding parallels , warning lines...ok I get that

but whats the point of these action, reaction lines?, why not just draw a fork, or a regular channel?...Why make things more complex?

and further more, do you have to see price in a channel before these action/ reaction lines can be used, and will work?
  • #1,550
  • Mar 31, 2010 4:48pm Mar 31, 2010 4:48pm
Here are some action/reaction lines drawn two different ways. One with even seperation between the lines, and the other with un-even seperation but the lines, touch the previous lows as marked.
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  • #1,551
  • Mar 31, 2010 5:06pm Mar 31, 2010 5:06pm
Quoting forkTrader
I traded the action reaction line setup that I posted yesterday with a nice & quick 60 pips gain. I exited a little shy of my exit @ 3465
Nice trade by the way.
  • #1,552
  • Mar 31, 2010 6:16pm Mar 31, 2010 6:16pm
Quoting big_pipin
I dont think I understand the need for some of this stuff tim is teaching...

forks, sliding parallels , warning lines...ok I get that

but whats the point of these action, reaction lines?, why not just draw a fork, or a regular channel?...Why make things more complex?

and further more, do you have to see price in a channel before these action/ reaction lines can be used, and will work?
I understand your point of why bother but Tim is explaining that action-reaction lines are a type of early framing and are possible pre-fork setups. Admittedly some charts are not always fork friendly so until they are, the trend lines he applies are the early stages of the fork formation. He's getting into the nuts and bolts of pitchforks like a good mechanic. Remember, Tim has a lot of experience and he wants to get in early for maximum profits.
I can find the forks in a chart but to find it right at its early stages is an extra step and a good trading habit I need to develop myself. That is why I see Tim's expertise very beneficial.
  • #1,553
  • Mar 31, 2010 7:19pm Mar 31, 2010 7:19pm
What about my chart examples? which one is correct, or are both right?
  • #1,554
  • Mar 31, 2010 7:36pm Mar 31, 2010 7:36pm
Quoting big_pipin
What about my chart examples? which one is correct, or are both right?
You drew your action reaction lines from bottom upward, however the price is moving downward, so you should draw them downward to predict where the price might jump out.
  • #1,555
  • Mar 31, 2010 7:57pm Mar 31, 2010 7:57pm
In tims video he drew them upward...
  • #1,556
  • Apr 1, 2010 12:27am Apr 1, 2010 12:27am
revising my gj chart i see that this fork work amazingly good. look for potential gj down fork if it starts to make lower lows.
Attached Image(s) (click to enlarge)
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #1,557
  • Edited 1:51am Apr 1, 2010 1:43am | Edited 1:51am
Quoting AlexC
I understand your point of why bother but Tim is explaining that action-reaction lines are a type of early framing and are possible pre-fork setups. Admittedly some charts are not always fork friendly so until they are, the trend lines he applies are the early stages of the fork formation. He's getting into the nuts and bolts of pitchforks like a good mechanic. Remember, Tim has a lot of experience and he wants to get in early for maximum profits.
I can find the forks in a chart but to find it right at its early stages is an extra step...
I would say the same. Big-pipin you make a good point there as I wanted to ask the same. As I see it, the one main beneficial aspect of drawing action/reaction lines ( even or uneven separation ) is to see the dominant angle in which price moves again and again. Often I can apply the same angle of lines ( like eaglestar showed with UJ ) again and again, some of them then gradually work out to be forks. Hope that helps.

Good trading to all.
Be like water.
  • #1,558
  • Apr 1, 2010 1:45am Apr 1, 2010 1:45am
Quoting eaglestar
revising my gj chart i see that this fork work amazingly good. look for potential gj down fork if it starts to make lower lows.
I`m waiting for that drop, same as in cadjpy and audjpy....

Thanks !
Be like water.
  • #1,559
  • Apr 1, 2010 3:02am Apr 1, 2010 3:02am
hi all,

as to the action reaction lines, you should not drawn them if you are a beginner. they are much more complicated than the forks. and there is much less written about them.
if you can handle them, you have found a key. they give you the timing aspect like cycle lows but they are less bound to rules like forks.
i have drawn a lot of them and everytime they work different.

alexandra
  • #1,560
  • Apr 1, 2010 5:27am Apr 1, 2010 5:27am
Eagle are you looking to short gj?
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