Andrews Pitchfork (Median Line)

one of the setups i look at for the moment.
pretty simple. but i like flags in the setup.

good luck

Not sure I understand the question.
Wave 5 is the beginning of wave 1 but the count is placed at the end of the wave. Where wave 5 ends that's where you place your count label, this is also the beginning of wave 1 but you won't place your count label until wave 1 ends. If wave 5 label is on a high then wave 1 label will be on a future low OR if wave 5 label is on a low then wave 1 label will be on a future high.
This answer your question...if not ask again.

Edit: There are instances of a much larger wave count where you could have a wave 5 label AND a wave 1 label of a much larger magnitude on the same high/low. Sure this will confuse you to no end...wave counting is complex, to put it in perspective.

Hey tormo:

Why don't you stop the blabbering already. I associated with Tim Morge through another then respectable trading forum some 13 years ago. Tim Morge is not the type of personality that you have had painted. And I mention here once AGAIN, it was only bloody months ago you asked me for materials about the Andrew's Pitchfork methodology. you told me you were in demo with a few hundred bucks, right? It was a bloody mistake I share anything with you. That said, I should've been more careful with the sharing in open forums such as this one. Either you be a courteous character and learn something out of this thread; or you have another choice, I'll make request to the moderator to show his awareness on this thread; and let him decides of your stay or go.






Kapital,

How do you know it works? Did you test it, did you ever see Tim use it, did you ever see Shane use it? Or maybe you just saw it work a few times and boom, I got a new setup. Regular median lines, which are drawn from a HLH/LHL have a mathematical edge thats been proven to work! AR lines, although very simular do work but have a much less probability. Besides that anything else is fluff, 50/50, no edge. Like Scrutch I've only looked through Dologa's book but have not read it. To be honest I got 100 times more from a few of Tim's free webinars then anything in the book. I don't know about you guys but I'm more willing to take the side of the guy that made a fortune over a 40 year career with this methodology and who personally studied with Dr. Andrews rather then a book written by a guy who I believe has zero credibility. Besides, Tim has already stated that the book is garbage and not to waste the time. I'd rather listen and watch one of the biggest traders in the world then read a random book about the same thing.

Please guys don't take this thread through the standard "trading systems" routines where first someone posts a system, everybody gets excited, and after the excitement dies down someone starts posting suggested changes to "increase" performance and work out the "defects". When you can make crazy money with simple stuff that's been proven to work why start changing now? It just does not make sense to me!

When you think about it anything can "work" especially with a discretionary method as this but it is our job as traders to find what works best and take full advantage of that. Regular median lines, which are drawn from a HLH/LHL have a mathematical edge that's been proven to work! (Period) End of story!

I entered late but took the trade anyway with Risk Reward Ratio (RRR):1/2. Could it be a flag? and continue UP??? but the retest bar closed below the BLUE Inner Line...

Since it was raining this morning and I'm not working, just lucky here sitting and watch the price moving...

Price broke support line

Didn't work out so well...

Just checking with you guys, on my last post I put WARNING LINE but it's actually from the quartile. Is it considered warning line? And does it provide good probability to sell or buy once the price bounce off the "quartile line" as they are with WARNING LINES? tony

What you have drawn there ('quartile/warning line') is a quantile line. The quartile's and quantile's are not that much different than the warning lines, they need to be tested to be proven.

I'm trading the same pair and just got out to see how the news was going to sway the smart money. Not sure how the image is going to post as I clipped it kinda short...have some commerical stuff below and rather than build a new chart I used this one. Need to check and see if the pullback is over and time to......

Hi Scrutch, How did you determine entering the market to buy. Was it from a breakout of the confluence between sliding parallel outside UML, fib 50 level that acts as resistance and bounce from red MA?

You are doing very well, nonetheless. Congratulations ! I would however watch carefully horizontal support & resistance lines too, as these are watched closely by most market participants. Then adjust/lower your stop so that a winner ( even a small one ) doesn`t turn in to a loser.

To the discusssion about alternatives : I would LEARN and study the basics from Tim, he has the necessary credibilty and unique day-to-day application as shown in his webinars.

But AFTER a few thousand charts drawn on your own I would think it`s perfectly OK to experiment.....

Thanks again for this one Fork. I was trying to digest this and NOW I got it, maybe I was kinda slow on the uptake. So it's very important to have sliding parallel laid-out as soon as the price broke through the LMLH and come back to the ML area, eh? It made a whole lotta sense

anthoniex, it was bad luck..that's it.

your setup was good, you have had lower highs and lows and a retest. there was not enough time or price to lower your stop. for realtime trading it was ok. in paper trading you would have had lowered your stop.
the only thing to mention was the measured move. mostly a sign of trend continuation.

it was just one of the trades where everything looks perfect and then......

btw do you draw all these innerlines like 50% lines manually?

good luck

wow u guys damn. but hey well said also i dont want to make any common but when i read thru this i feel something not right "Tim has already stated that the book is garbage and not to waste the time ". i feel how u feel and listen to Tim webinar everyday, but the book is really good, i dont selling this dam book or something but i gave credit to him. u know why if u really know how the median line work like u said u know it really well this book will give u more power lets me point out which one it is that is 6 ways to use trendlines u just need to read that one if u have time. and look at the chart u will see those everywhere in the chart. Well sorry if i not make u happy because i wrote all this. also im following Tim everyday but, i take what i can learn from him not what all he said is the truth. Good day and good luck with ur trading mate.

here is my chart in EJ. happy hunting to all

Your setup was great.Losses are part of business.
Are you watching GJ nice setup there.
Here is my view let us see how it will unfold.

Regards,
TAQ

Taq we are fighting the same battle, same starting point, i really like ur chart, neat and leaner than be4, i really happy for you. lets c 4 touched it trendline can turn into a trend barrier line. i really happy if it take out the first low tonite

thanks NG yes it seems we are fighting same battle.
Let us see how it unfold .

When I saw the harmonics on the mini (white) fork median line I felt cozy with trying a long. Price pushed above the upper median line (red) and just tagged my sliding parallel, then did a retrace and tagged the 61.8 fib and began a strong push upwards. I wanted to see several things taken out before entering...sliding parallel, 50.0 fib, the even number fractal (135.00), and the 4 hour high.
If you look at the M5 chart you can get a clear picture of what I was watching at the time of entry. There was about a 10 pip pullback after all levels were broken and while it pushed below the 50.0 fib it would not close below that level. Took partial exit off at the tag of the median (white) line and a few bars later, did a full exit a couple of pips higher...waiting on the upcoming news.

Updated chart
I am expecting 142.30 - 140.90 let us see how far it can go??

Regards,
TAQ

Anyone up for chat and charts this morning?