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Andrews Pitchfork (Median Line)

  • #1,721
  • May 1, 2010 10:06pm May 1, 2010 10:06pm
Didn't miss your point at all Tormo. Some of us just choose to apply things in addition to what works SOME of the time. As long as it increases the probability of successful trades, I say GO FOR IT!!!
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,722
  • May 2, 2010 12:45am May 2, 2010 12:45am
suspended forks, t forks, or reverse forks are just a set of action reaction lines. I think its better to use action reaction line set than having the trouble to find out which fork is working best.

Here are the few setups that I used recently.

The recent upswing in GBPUSD was an easy buy target with action reaction line set (see the 4HR chart).
Also look at the short entry on GBPUSD.

You can see how powerful these simple action reaction lines are.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 5-02 gbpusd 240 min.gif Size: 27 KB
Click to Enlarge Name: 5-02 gbpusd 30 min.gif Size: 25 KB
Let someone arise from my bones as an avenger. Jesse Livermore
  • #1,723
  • May 2, 2010 1:09am May 2, 2010 1:09am
what i do not understand is, why you all have this "guru complex"? *gg

just because people write books or give seminars or teach does not mean they are good traders.
one of the gurus has for every situation a fork rule, the other one failed with his trading fund and the next guru redraws his fork lines on his webcharts every time he posted a chart and a follow up and there are some more examples for these gurus if you are long enough in the trading business *g it's ok but learn to recognize it.

you all have the basics for drawing forks..use it..make your own observation, make your own backtests and make your own thinking....that is not down within a few chart hours but after that you are really indepentent...and that should be your second goal as a trader.

have a good sunday
  • #1,724
  • May 2, 2010 1:27am May 2, 2010 1:27am
Hi,
Would anyone know the Metastock code for pitchforks ?
Or where to find it ?
  • #1,725
  • Edited 9:45am May 2, 2010 1:59am | Edited 9:45am
Quoting forkTrader
suspended forks, t forks, or reverse forks are just a set of action reaction lines. I think its better to use action reaction line set than having the trouble to find out which fork is working best.

Here are the few setups that I used recently.

The recent upswing in GBPUSD was an easy buy target with action reaction line set (see the 4HR chart).
Also look at the short entry on GBPUSD.

You can see how powerful these simple action reaction lines are.
Hi ForkTrader, I was wondering where you got RL2 and AL2 from. They don't look equally spaced from MLH (the range slightly smaller)? Sorry, I'm new and haven't gone through the thread yet.
  • #1,726
  • May 2, 2010 2:28am May 2, 2010 2:28am
Quoting tormo
Both of you missed the main point of my post, but thats ok.

As for your question Satni, I am not about to go look through 50 or so 80+ minute videos to give you an answer. Someone asked Tim a question about the book and he said it's crap and moved on with the webinar. It took maybe 10 seconds and that's it. Tomorrow is Sunday so if you got the time, get watching, pay attention and you'll find your answer.

I really don't want to argue with anyone, I only stated what I think and now I'm done. That's it, you guys can move on now.

tormo...

Appreciate your info mate.I'm listening
  • #1,727
  • May 2, 2010 2:37am May 2, 2010 2:37am
Quoting forkTrader
suspended forks, t forks, or reverse forks are just a set of action reaction lines. I think its better to use action reaction line set than having the trouble to find out which fork is working best.

Here are the few setups that I used recently.

The recent upswing in GBPUSD was an easy buy target with action reaction line set (see the 4HR chart).
Also look at the short entry on GBPUSD.

You can see how powerful these simple action reaction lines are.
Thanks for the comment on the fork variations.

My new charting software, would have the AR Lines tool too, should make it
easier to practise Action and Reaction lines as well.

Hope you dont stop posting on AR lines too. TQ
  • #1,728
  • May 2, 2010 8:55am May 2, 2010 8:55am
AL and RL stands for Action line and Reaction line. I suggest you read the Original Andrews couse on medianline.com
Tim rarely gives out material on action reaction lines, other than the andrews course for free. So, you got to read the andrews course, no matter how much clutter it has on charts.
Also AL and RL dont need to be equally spaced from the CL (centre line) or ML.

Quoting anthoniex
Hi ForkTrader, I was wondering where you got RL2 and AL2 from. They don't look equally spaced from MLH (the range slightly smaller), and what do they stand for? Sorry, I'm new and haven't gone through the thread yet.
Let someone arise from my bones as an avenger. Jesse Livermore
  • #1,729
  • May 2, 2010 9:57am May 2, 2010 9:57am
Quoting forkTrader
AL and RL stands for Action line and Reaction line. I suggest you read the Original Andrews couse on medianline.com
Tim rarely gives out material on action reaction lines, other than the andrews course for free. So, you got to read the andrews course, no matter how much clutter it has on charts.
Also AL and RL dont need to be equally spaced from the CL (centre line) or ML.
Thanks mate, I will do. I looked at the Andrews AR material before but am kinda turned off since the charts rather hard to read. I noticed that you utilize the AR lines to the max and seems to be very powerful, definitely worth studying.
  • #1,730
  • Edited 12:36pm May 2, 2010 10:05am | Edited 12:36pm
Potential scalps with the downtrend? See how it goes...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-daily.gif Size: 30 KB
  • #1,731
  • Edited 3:04pm May 2, 2010 2:05pm | Edited 3:04pm
Just noticed something and now the rookie has doubt... Is it better to wait, or the setup looks good enough
Attached Image (click to enlarge)
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  • #1,732
  • May 2, 2010 2:35pm May 2, 2010 2:35pm
Sure enough, the market just opened and broke through my planned SL. Now I`m waiting for the possible last swing high and the price to turn around...
  • #1,733
  • May 2, 2010 4:34pm May 2, 2010 4:34pm
Drawing pitchforks, and determining targets is the easiet part of using median lines for trading. Difficult point is when to draw the fork, or in other words, when do you know the pivot has formed.
The method I am going to show is simple but it works 90% of the time for me.
For determining is it okay to draw the pitchfork, first thing you have to know is that the current trend is over. It can easily be done here (with the EURO) using a pitchfork.

Andrew's stated in his course that, after price breaks through the lower median line, it often climbs back up, and you can use sliding parallel to enter again in the direction of the trend.
The price where you were looking for a short entry was infact a buy point. Although buying opportunity was very small.
In EURO price broke through the lower median line parallel, and you can see that we have a buying opportunity on the sliding parallel.
Also you can see that price failed to touch the median line in the up move from sliding parallel. Hagopian rule can be applied here.

When price will break the sliding parallel, it will be okay to draw a pitchfork from ABC pivots.


Quoting anthoniex
Sure enough, the market just opened and broke through my planned SL. Now I`m waiting for the possible last swing high and the price to turn around...
Attached Image (click to enlarge)
Click to Enlarge Name: 5-02 eurusd 30 min.gif Size: 19 KB
Let someone arise from my bones as an avenger. Jesse Livermore
  • #1,734
  • May 2, 2010 5:48pm May 2, 2010 5:48pm
Quoting forkTrader
Difficult point is when to draw the fork, or in other words, when do you know the pivot has formed.
Spot on! I hope you guys put more pics as when to draw the fork since I`m a visual learner. Cheers!
  • #1,735
  • May 2, 2010 6:14pm May 2, 2010 6:14pm
Kapital,

You've got some wisdom there...when the traditional fork rules don't do the job, think outside the box.

Quoting kapital
My take on the recent discussion of alternative methods is:

"WHATEVER WORKS...."
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,736
  • May 2, 2010 6:16pm May 2, 2010 6:16pm
Hi Tony,

How far have you been able to go in your understanding of the Pitchfork?

Quoting anthoniex
I'm following this thread to genuinely learn and share ideas about forex trading using Median Line. I'm currently demo trading only.

tony
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,737
  • May 2, 2010 6:39pm May 2, 2010 6:39pm
Hey Scrutch,

Saw a chart by Malcolm at:

http://www.forexfactory.com/showthre...91#post3690091

His last 5-pivot count was interesting. The first pivot started after the 5th...I thought that the 5th pivot of the prior wave count was the first of the new wave count. Are both valid? You may have to scroll down a few posts to see his chart with the pivot counts.

Quoting Scrutch
Morning Fx4N,

Your're probably spot on
Posting a follow up for the same pair with even 'more' lines......but hey, this is the way I trade. Target area moved higer as time progressed and in my opinion, if you were trading this pair the final exit should have been either at the P0~P2 target line or the warning line. There's also some fair resistance right in this area. Sure it can and could go a lot higher but at this point I'd like to see what the reaction is if/when it reaches the positive slope median line.

Cheers...and...
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,738
  • May 2, 2010 6:55pm May 2, 2010 6:55pm
Quoting FX4Newbies
Hi Tony,

How far have you been able to go in your understanding of the Pitchfork?
I`m very new to Median Lines but I believe in the power of them after getting really disgusted with lagging indicators that made me blow my first account a few months ago. Maybe I just didn't know how to use them :-)

I like Median Lines because it works, it`s simple, has excellent RiskReward ratio and it trains me to be PATIENT. I`ve been using it for the last few weeks now on my demo acct. and have had pretty good results with some mental analysis included.

I just got Tim Morge`s book like a week ago and hope to learn more from you guys.
  • #1,739
  • May 3, 2010 1:42am May 3, 2010 1:42am
Just shorted GBPUSD.
I have account with Alpari and I use FXPRO data feed for my setups. FxPro data is lot better than Alpari.
Attached Image (click to enlarge)
Click to Enlarge Name: 5-02 eurusd 30 min(1).jpg Size: 123 KB
Let someone arise from my bones as an avenger. Jesse Livermore
  • #1,740
  • May 3, 2010 3:05am May 3, 2010 3:05am
If anyone is interested, I just opened a chat room on Paltalk where we can communicate in real-time. If you are a user of the chat platform, send me a private message with your user name. Make sure you are logged on so I can invite you to the room.
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
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