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Andrews Pitchfork (Median Line)

  • #1,661
  • Apr 23, 2010 1:32am Apr 23, 2010 1:32am
This thing has been in a war zone for several hours. Got in with for a quick trade...not a good idea. Will stay on the sidelines until I see something more decisive.

How long have you been trading FX?

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,662
  • Apr 23, 2010 3:03am Apr 23, 2010 3:03am
http://img196.imageshack.us/img196/3897/uchfshorted.png
  • #1,663
  • Apr 23, 2010 3:45am Apr 23, 2010 3:45am
Quoting Satni
Does this fit into Tim's minimum 2:1 the risk/reward ratio for going long from the lowest level?
What are the chances,that we can hit the medianline?

I think you guys must have got the answers all figured out.. Have a great trading day!


http://img255.imageshack.us/img255/6285/weekdrop.png
80% at the time of your posting has been 100% fullfilled .
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Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #1,664
  • Apr 23, 2010 6:49am Apr 23, 2010 6:49am
Quoting fxhermit
80% at the time of your posting has been 100% fullfilled .
God bless,Have a great trading ahead and nice weekend to all.
  • #1,665
  • Apr 23, 2010 4:27pm Apr 23, 2010 4:27pm
End of the week and here is the current mark up of my M30 chart. Its been a good week. Across the channel and back in two days time - that's enough to give an old swing trader like me an orgasm .
Have a nice weekend all.
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Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #1,666
  • Apr 25, 2010 3:04am Apr 25, 2010 3:04am
Did anyone here participate in Tim Morge's advanced seminar yesterday? If so, how was it?
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,667
  • Apr 26, 2010 4:42am Apr 26, 2010 4:42am
Got to my tradestation a bit late. Would like to have taken on the trade a bit earlier, however, the trendline break worked out just fine. Its a free trade now with a few pips to the good so there are no worries as to what it does from here... Still a bit of room to the ML ... hope my stop is not to tight ... I guess a stop that is in profit is never to tight.
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Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #1,668
  • Apr 26, 2010 5:20am Apr 26, 2010 5:20am
Why am I not surprised to see that inside Sliding Parallel act as support for price .... took out my stop ... ahh well, made a bit of lunch money ... now its a wait for the next bus to come along ... could be another pullback/continuation .. or .. who knows.
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Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #1,669
  • Edited 8:14am Apr 26, 2010 6:45am | Edited 8:14am
The level 1.3380-90 may give some resistance.

"If the resistance stays but the support is weak." Its a sell

The mini pitchfork below is in Schiff mode, been helping me since start of trading
day/week.

http://img683.imageshack.us/img683/5...kandwlines.png
  • #1,670
  • Apr 26, 2010 9:08am Apr 26, 2010 9:08am
I'm a novice at the Andrew's Pitchfork indicator. I drew this one for practice on the AUD/USD; is it a correct assumption that the pair 'should' still trace up to @ least the middle prong?
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  • #1,671
  • Apr 26, 2010 2:01pm Apr 26, 2010 2:01pm
Price congestion around the Lime lower ML which is also a WL for the Green Schiff fork.

Satni, it looks like price may eventually get to your resistance area .. wait and see. I don't much care to trade this sort of congestion (especially this time of day) so will sit out till I see something more obvious.
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Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #1,672
  • Apr 26, 2010 6:53pm Apr 26, 2010 6:53pm
Quoting SannaCBranno
I'm a novice at the Andrew's Pitchfork indicator. I drew this one for practice on the AUD/USD; is it a correct assumption that the pair 'should' still trace up to @ least the middle prong?
If i may answer, by probability studies done it has 80% chance of reaching
the middle prong (in your words). However if it doesnt,a reversal is imminent, and the lower medianline should be your next minimum target.
  • #1,673
  • Apr 26, 2010 6:59pm Apr 26, 2010 6:59pm
Confluence in circle should hold resistance too, but Im not sure how strong this one is, since its strike on the Warning Lines to MedianLine instead of MedianLine to MedianLine. Should be interesting to observe.

http://img237.imageshack.us/img237/5510/confluence.png
  • #1,674
  • Apr 26, 2010 7:45pm Apr 26, 2010 7:45pm
Quoting SannaCBranno
I'm a novice at the Andrew's Pitchfork indicator. I drew this one for practice on the AUD/USD; is it a correct assumption that the pair 'should' still trace up to @ least the middle prong?

Hi Sanna,

I was trying to see what time-frame you used so I can draw a chart and send to you. The concept is correct, but the points of the fork need to be connected to the price pivots on the chart. If you send me the time-frame, I will send you a chart sample back.

Yes you have the right concept that the price should trace up to the middle prong, really called a median line, but be sure your fork is drawn more precisely.

Take care,

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,675
  • Apr 26, 2010 8:48pm Apr 26, 2010 8:48pm
Danke for the help, mate.......

Quoting Satni
If i may answer, by probability studies done it has 80% chance of reaching
the middle prong (in your words). However if it doesnt,a reversal is imminent, and the lower medianline should be your next minimum target.
  • #1,676
  • Apr 26, 2010 8:52pm Apr 26, 2010 8:52pm
I believe that was on the 4 hr....I rubbished after the expirement, so not quite sure.....more than likely use the components that I have in play for now-done me good- and just use this concept as perhaps a double-check. Thanks

Quoting FX4Newbies
Hi Sanna,

I was trying to see what time-frame you used so I can draw a chart and send to you. The concept is correct, but the points of the fork need to be connected to the price pivots on the chart. If you send me the time-frame, I will send you a chart sample back.

Yes you have the right concept that the price should trace up to the middle prong, really called a median line, but be sure your fork is drawn more precisely.

Take care,

FX4Newbies
  • #1,677
  • Apr 26, 2010 9:32pm Apr 26, 2010 9:32pm
FWIW...looks like a H1 to me.

Quoting FX4Newbies
Hi Sanna,

I was trying to see what time-frame you used so I can draw a chart and send to you. The concept is correct, but the points of the fork need to be connected to the price pivots on the chart. If you send me the time-frame, I will send you a chart sample back.
Take care,
FX4Newbies
Listen to the whispers.... You may learn something
  • #1,678
  • Apr 27, 2010 3:29am Apr 27, 2010 3:29am
Quoting Satni
Confluence in circle should hold resistance too, but Im not sure how strong this one is, since its strike on the Warning Lines to MedianLine instead of MedianLine to MedianLine. Should be interesting to observe.

http://img237.imageshack.us/img237/5510/confluence.png
Just a follow up of the above observation... It works!

The confluence is a helper and a stopper this time around.

http://img191.imageshack.us/img191/4679/confluence2.png
  • #1,679
  • Apr 27, 2010 4:23am Apr 27, 2010 4:23am
Price is in the right spot for it to be drawn down to the area within the next few hours.
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,680
  • Apr 27, 2010 4:34am Apr 27, 2010 4:34am
...
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
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