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Andrews Pitchfork (Median Line)

  • #2,181
  • Jun 16, 2010 8:27am Jun 16, 2010 8:27am
Quoting FX4Newbies
Using what trading Platform?
MT4
  • #2,182
  • Jun 16, 2010 8:59am Jun 16, 2010 8:59am
Will see what I can find...F12 moves the chart forward one candle at a time, but it is not an automatic replay mode. Maybe you can use Live chat with them to inquire.

FX4Newbies

Quoting taq
MT4
Trade what you see, not what you think or feel. Let the market come to you.
  • #2,183
  • Jun 16, 2010 11:26am Jun 16, 2010 11:26am
Hello again,

This morning I let the news play out then jumped in with a buy for a quick scalping trade...a few pips. Anyway, pay special attention to how the price reacted at the L-MLH of the green fork, where I had the ???.

Once price formed that new low, I introduced a new blue fork. Price went straight to that ML, which was my exit because I expected a pull back there. I expect to be erasing some of these lines for the Asian session...decided to keep them here so those downloading these charts can follow the process.

Take care,

Quoting FX4Newbies
Good Morning Traders,

Price has been battling for the last four hours or so. If it does not go south but bounces around, there could be a battle in the region of the triangle. For those of you who trade continuation chart patterns like symmetrical triangles, pennants etc., maybe now you have an inside look as to why they form. When you begin to understand "the why", trading becomes much easier and not so mysterious!

Enjoy.
Attached Image (click to enlarge)
Click to Enlarge Name: TradedAfterNews.jpg Size: 99 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #2,184
  • Jun 16, 2010 12:02pm Jun 16, 2010 12:02pm
FX4N still i don't understand what you are trying to do here with these charts. AP or ML is not something which you need to draw after every bar to prove your point.
This thread used to be the best thread, you are simply spasming this thread. I don't find any of your charts worthwhile , I think other forkers are also agree with me.
  • #2,185
  • Edited 2:12pm Jun 16, 2010 12:22pm | Edited 2:12pm
Well Taq,

I do not understand how come you don't understand. For the most part, all I am doing is using Pitchforks. This thread is for Pitchforks right? I just use them a little differently than what you may be used to seeing. Honestly, for traders new to pitchforks, the other approaches may not help them at all. And as Catalin said some time ago, everyone has their own style.

If my charts do not benefit you, that is fine. Just ignore them. Some charts I see I can't make sense of...so I move on and wish them well.

By the way, what do you mean by "spasming this thread"?

Thanks for the reply,

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #2,186
  • Jun 16, 2010 4:19pm Jun 16, 2010 4:19pm
I cannot say anything about this. I have already voiced my concern once. He is just hard wiring in his head that price reach the most recent ML 80% of the time.

Quoting taq
FX4N still i don't understand what you are trying to do here with these charts. AP or ML is not something which you need to draw after every bar to prove your point.
This thread used to be the best thread, you are simply spasming this thread. I don't find any of your charts worthwhile , I think other forkers are also agree with me.
Let someone arise from my bones as an avenger. Jesse Livermore
  • #2,187
  • Jun 16, 2010 6:39pm Jun 16, 2010 6:39pm
A sideways market at the moment. Will be watching to see how the market shapes up for the London Session.
Trade what you see, not what you think or feel. Let the market come to you.
  • #2,188
  • Edited 9:11pm Jun 16, 2010 7:45pm | Edited 9:11pm
Thanks forkers for this nice thread.

I have learn what wanted to know about the medianlines, its strength as well
its weakness. It certainly requires alot of discipline and patience to trade with it.

As I originally come from Elliott Waves and Gann campers, about10 years now,
I will be more of them and still have the forks in mind.

Thanks a Million, Good luck ahead Guys!
  • #2,189
  • Jun 16, 2010 8:01pm Jun 16, 2010 8:01pm
Eventhough I'm not trading fx, hope its ok that I share some success with forks in th equity markets. Here is BA (Boeing) off the daily. Noticed a few nice tests along the upper fork line, and decided to take a long after the last test, and put a stop at 60 (red circle). The green circle was my entry, and the purple circle is where i took off 1/2 my position.

My logic was that maybe this green fork line will act as resistance. We'll see.
Attached Image (click to enlarge)
Click to Enlarge Name: ba.jpg Size: 286 KB
  • #2,190
  • Jun 16, 2010 8:23pm Jun 16, 2010 8:23pm
Wishing you continued success Satni...hope you continue to hear from you.

Quoting Satni
Thanks forkers for this nice thread.

I have learn what wanted to know about the medianlines, its strength as well
its weakeness. It certainly requires alot of discipline and patience to trade with it.

As I originally come from Elliott Waves and Gann campers, about10 yeears now,
I will be more of them and still have the forks in mind.

Thanks a Million, Good luck ahead Guys!
Trade what you see, not what you think or feel. Let the market come to you.
  • #2,191
  • Jun 16, 2010 11:09pm Jun 16, 2010 11:09pm
I second your opinion. The use of ML as a trading tool is totally missed out here. The last post I did a few days back is still controlling prices. C'mon...Catalin my friend...



Quoting taq
FX4N still i don't understand what you are trying to do here with these charts. AP or ML is not something which you need to draw after every bar to prove your point.
This thread used to be the best thread, you are simply spasming this thread. I don't find any of your charts worthwhile , I think other forkers are also agree with me.
~*~You are only one trade away from humility~*~
  • #2,192
  • Jun 17, 2010 3:32am Jun 17, 2010 3:32am
Hello again,

What will the market do from here? Been showing a little sign of weakness, but still technically in an uptrend (see MPL). If price breaks to upside, a new fork will be drawn.

Let's see what happens.

Quoting FX4Newbies
Hello again,

This morning I let the news play out then jumped in with a buy for a...
Attached Image (click to enlarge)
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Trade what you see, not what you think or feel. Let the market come to you.
  • #2,193
  • Jun 17, 2010 3:37am Jun 17, 2010 3:37am
Might turn out to be a good long setup.
EDIT:
I mean to say I am thinking of buying a retest of green trend line. The red fork is for analysis purpose. Price did not make to its ML and rather held support at the green trend line. Lets see how it works out.
Attached Image (click to enlarge)
Click to Enlarge Name: 170610 gbpusd 30 min.gif Size: 21 KB
Let someone arise from my bones as an avenger. Jesse Livermore
  • #2,194
  • Edited 7:00am Jun 17, 2010 3:58am | Edited 7:00am
Hello jharteam,

I understand that you and a few others have a challenge with the number of forks I have applied to the charts. Maybe you have not given thought to why I did so. forkTrader mentioned that I am stuck on the 80% success rate that price will hit the ML. Some people need to see it...maybe it is old hat for you. I specifically mentioned on the chart that spawned these comments to "observe how price follows the lines".

There are those who would like to use the pitchfork, or at least draw it on a chart to see how it works. The more advanced style of usage displayed here in the forum that comes from the way the traders are analyzing price (which is good), does not help someone who stumbles upon this thread and wants to start from somewhere.

jharteam, you mentioned that the last post you did a few days back is still controlling prices...the thought you put in and the reasoning behind why you picked the pivots you did may not be apparent to someone who is new. (I presume you were referring to Post 2141 on Page 143).

I hope you and the others will take this into consideration, because I will not be responding to this again.

No hard feelings, just "turn your mind about" as Andrews' has said.

Good trading to you,

Quoting jharteam
I second your opinion. The use of ML as a trading tool is totally missed out here. The last post I did a few days back is still controlling prices. C'mon...Catalin my friend...
Trade what you see, not what you think or feel. Let the market come to you.
  • #2,195
  • Jun 17, 2010 4:00am Jun 17, 2010 4:00am
Hanging out in the paltalk room (pitchfork trading) for a bit. Feel free to drop in.

DOWN EUR/JPY, DOWN!
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #2,196
  • Jun 17, 2010 4:33am Jun 17, 2010 4:33am
Price failed to reach red ML and pushed through U-MLH. Price hit ML of new fork (green), a good place to take profits. Let's see if price will go higher.

Quoting FX4Newbies
Hello again,

What will the market do from here? Been showing a little sign of weakness, but still technically in an uptrend (see MPL). If price breaks to upside, a new fork will be drawn.

Let's see what happens.
Attached Image (click to enlarge)
Click to Enlarge Name: UpwardPushContinued...ML Hit!.jpg Size: 90 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #2,197
  • Jun 17, 2010 4:35am Jun 17, 2010 4:35am
Quoting forkTrader
Might turn out to be a good long setup.
EDIT:
I mean to say I am thinking of buying a retest of green trend line. The red fork is for analysis purpose. Price did not make to its ML and rather held support at the green trend line. Lets see how it works out.
when price broke below the green line, is your view more bearish is most cases?
  • #2,198
  • Jun 17, 2010 4:44am Jun 17, 2010 4:44am
To be honest, im considering putting fxnewbies on ignore, im simply annoyed and irritated by him posting the same chart over and over again... i mean come on... Somebody should open a 20m fork trading discussion, or join the EURUSD topic and spamflood there.

http://img63.imageshack.us/img63/301...ure6gxq.th.png
  • #2,199
  • Jun 17, 2010 4:48am Jun 17, 2010 4:48am
I was looking for a buy entry in GU. When price broke through the green trend line, I was not bearish. I might have become bearish if price would have tested the Green line from below and fail. False breakout happens and you should be wary of them.


Quoting big_pipin
when price broke below the green line, is your view more bearish is most cases?
Let someone arise from my bones as an avenger. Jesse Livermore
  • #2,200
  • Jun 17, 2010 5:25am Jun 17, 2010 5:25am
High of the day perhaps? If so, the MML of the modified schiff would be a good target.
Attached Image (click to enlarge)
Click to Enlarge Name: 15MIN EU.GIF Size: 49 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
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