I'm not so familiar with GU,as I'm more familiar with EU,
let's see... and Happy Trading!
http://img146.imageshack.us/img146/9459/gu1hrfork.png
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DislikedHello affandiz,
I'm not so familiar with GU,as I'm more familiar with EU,
let's see... and Happy Trading!Ignored
DislikedSatni,
I'm a bit confused...why are you using a low for P0 and a lower low for P1 as anchors?
I must admit that I posted a chart like that...I had been dragging the AML around looking for a best fit, and not realizing I had moved the formation, posted an image of it, but that's certainly not the normal procedure for drawing an AML.
P0 = L ~ P1 = H ~ P2 = L
or
P0 = H ~ P1 = L ~ P2 = H
At least this is the method that Dr. Alan Andrews taught.Ignored
DislikedSatni,
I'm a bit confused...why are you using a low for P0 and a lower low for P1 as anchors?
I must admit that I posted a chart like that...I had been dragging the AML around looking for a best fit, and not realizing I had moved the formation, posted an image of it, but that's certainly not the normal procedure for drawing an AML.
P0 = L ~ P1 = H ~ P2 = L
or
P0 = H ~ P1 = L ~ P2 = H
At least this is the method that Dr. Alan Andrews taught.Ignored
DislikedScrutch,
I understand the equation version you mentioned above.
There also an new version call "T- Pitchfork" by Dr Dologa, which also going along Dr Andrews above equation.
I am Highlighting below same location again.
Correct me if my Pitchfork is in the wrong location, please.
Thanks a million for your comment.
p/s I do refer to all studies from Dr Alan Andrews,
Tim Morge and Dr Mircea Dologa.Ignored
DislikedNot a regular here anymore as my current work doesn't allow me to do so. But yeah, Scrutch, I am also confused why those Andrew's were drawn like that. have a good one, JeffIgnored
DislikedSatni,
Here I've drawn an example with all anchors on pivot lows...you can see that it does show several places of support and resistance. However this does not abide by the rules Dr. Andrews set forth. He was trying to project time and price into the future by bisecting the midpoint of P1~P2 with HLH or LHL anchors.
Cheers
PnS...NuB's, please don't draw AML's using this method...Ignored
DislikedSatni,
I've looked at some of Dologa's examples and all of what I consider to be Andrews Median Lines are anchored with a HLH or a LHL. He does show a lot of channel or parallel lines that look a bit weird without any explainations...I didn't spend a lot of time reading anything, just looking. I did not find what you're referring to as a "T-Pitchfork", perhaps this one is anchored different.
On your chart example what you are referring to as a high (the first anchor) is actually a low, eight bars back or seven bars forward would be considered...Ignored
DislikedScrutch,
Well, The "T-Pitchfork, Reverse Median Lines, and all those Suspended Pitchfork" and non common pitchforks, but they seriously reliable pitchfork.(Its all mentioned in the books..not in the websites)
And the nice thing about these version of pitchfork is that the PO (anchor) are NON Pivot based.
So actually, PO (anchor) will be more dynamic in nature to describe the embedded energy flow of the market when we got several options. Both
traditional pitchfork and non traditional ones. More pow wows...Ignored
DislikedMy take on the recent discussion of alternative methods is:
"WHATEVER WORKS...."Ignored
DislikedThe standard way of drawing a pitchfork is by using pivot points of a high-low-high or low-high-low combination. However, you will find that there are alternate combinations of pivot points you can use as well. Like I said before, "Whatever works...". It is PRICE ACTION which ultimately reveals what works and what doesn't, rather than what one may assume should work.
That's my 2 pips worth.Ignored
DislikedWell Tormo, you know it works by seeing the frequency of price in relation to the fork....Ignored