Pitchfork Goldmine!

Chart attached showing another perspective.

Hello Traders,

Just a continuation of the earlier chart...what price does in and around the green L-MLH will be pivotal.

Take care,

Hello Traders,

Decided to add another fork, a black one as price appears to be having a challenge deciding. The new fork shows a sideways move with a slightly upward bias...in that case I will be waiting for confirmation of direction.

The forks are color-coded, but I have kept them here so you can see how price stair-steps on these lines. Since price is in a tight range, the tines provide support and resistance in various ways.

Not trying to make you cross-eyed...promise .

Be very careful.

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!

Observe how price bounces around on the lines. As your eyes become better if you decide to use Pitchforks, all of these lines at once are not necessary. They are here for you to observe and learn about them as you go on to bigger and better things .

Enjoy.

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.

A sideways market at the moment. Will be watching to see how the market shapes up for the London Session.

Be patient.

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.

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 it will go higher.

Hello again traders,

Thanks for your patience while I uploaded my files thus far for June.

Attached is the chart as it stands now...I will not be trading til next week, but at least we can see how price will behave in relation to these lines.

Take care, and enjoy the weekend.

glad you started your own thread,keep posting charts

well done

Thank you Pikeliver for the encouragement. All the best to you.

hi,to draw a pitchfork,you use pivots A B C

when A and B are in, how do you decide pivot C is in before it is too late ?
to use,is it just trial and error or somthing else

thanks

Hello Pikeliver,

I generally look for Pivot C to form close to a support or resistance level...a Warning Line, a Fib Retracement Level, another fork line or even a simple trendline ...the more tests the line has the better...and of course if price closes off the support or resistance, as the case may be, it is another tell that traders are there.

What I like about drawing the fork is that if price fails to go toward the ML and breaks that line (the MLH) formed by the C pivot and the SH (if there is the need to draw one), it may mean price is continuing and not ready to turn. Of course, if it tests (or retests, great) the line of the fork formed by C, then you are looking for your other entry signals to pull the trigger.

Does that help clarify it for you?

Additionally, as Tim Morge teaches, it is good if price begins to take out the neighboring swing highs (if price is to be moving up) or swing lows (if you expect price to be moving down), before confirming to enter with a buy or sell.

I would suggest that you practise and watch how price behaves as it begins to move. Remember, an uptrend means...higher highs AND higher lows. A downtrend means...lower highs AND lower lows. Armed with that knowledge, you are then ready to begin analysis, because you have some idea as to what the market is doing. Very simple definitions but very powerful in reality. If you just observe price action carefully, you will see when and where to get in (and out).

Take care,

Hello Traders,

Before I completely sign off, I thought I would post how the market left us hanging...

When it reopens, we need to let it make a clear statement as to where it will head next. Don't be too anxious to click.

Enjoy the week-end.

I watched what happened on the other site, Andrews Pitchfork. I have been studying Tim Morge for about 6 months and trading his system. It works.

Your system of counter trending forks is valid. Shane Blankenship, Tim's protoge and presenter on Market Geometry, also uses counter trending
forks, to great effect. Shane looks at H1 charts and some time trades off an M1 chart. Tim use M20 & H4 for currencies. I use H1 for the big swing picture and M20 or 89 Tick for entries. I also listen to Paul Coghland of Coghland capital. He was a student of Tim's and a presenter, now he has gone out on his own. He uses M20 & H4 TFs.

Forks are simple but very hard to grasp the sytem, whether Standard or Modified Shciff. Tim calls 50% line a "quartile"

I chart and trade the Major 6 plus EURJPY and GBPJPY. I am new to Forex Factory and hope to figure out how to post my charts, this weekend.

Hope I can learn and help in the future. Attitude is everything.

Hello Wave Trader,

I truly appreciate your comments. I am glad to know that you have seen the validity of the Pitchfork and what Tim Morge teaches. Yes, it does work. Forks require a different way of thinking. In my opinion, things generally appear difficult if we aren't "thinking correctly".

I generally post the 1 hour chart here because I find that when that is in place, it is time to look for the entry. Many times I enter on the 5-minute. I also keep an eye on the longer time-frames, especially the 4hr. Forks there can tell alot about where the market may be headed.

I am also aware of Shane's approach and very thankful that he demonstrates the importance of being an independent thinker in his trading. This is one of the reasons Tim is so successful...traders, I think, miss the man behind the method. It is essential that each trader develops confidence in what they see and sense, because if it works for them consistently, it is valid. Many thanks to Tim for sharing what has worked well for him over his illustrious career.

Paul C. has a wonderful style of charting. He seems so proficient at it...very clean and decisive. Nice crisp thinking...he knows what he is about.

I analyze the pairs you mentioned as well and generally post only the EurUsd as so many people trade it. Maybe in the future I will start my own blog as someone else has suggested. Please feel free to post here if you like. If you scroll down from where you typed your comment, there is a link called "Manage Attachments". There you can add your files.

You are so right...attitude is everything. Don't know how long you have been trading, but I would say you seem very astute in your understanding and approach.

All the best to you Wave Trader, and hope to hear more from you in the future.

By the way, how do you connect with Paul Coughland? You mentioned that you listen to him. You may send a PM if necessary.

Thanks for the reply.

Hello Newer Fork Traders,

Just wanted to make a comment here as you attempt to draw a fork on your chart. You must pay attention to the sequence of your pivots as time progresses...they should be alternating high-low-high or low-high-low, with each successive pivot advancing in time. I have seen some traders tweak the application in time in rare cases by using the high and low (B and C) on the same candle. The market was consolidating at that time. It is the force of energy created by a swing (from low to high or high to low) that creates the next swing. The alternating pivots can be close together or further apart, capturing more major swings. The selection depends on what view of the market the trader is after. You're in the driver's seat.

According to Andrews and Morge and perhaps some of the other early pioneers, there is a mathematical relationship between pivots as I described above, that produces the built-in statistical reliability Pitchforks are known for. Also, there is the concept from physics: Newton's third law...to every action, there is an equal and opposite reaction. Applying a Pitchfork to a simple sine wave will demonstrate the concept.

Price movement, which for the most part is emotionally driven, makes trading as dynamic as it is. This is why we need to be thinking traders...on our feet so to speak.

If you would like me to look at a fork that you may have tried feel free to post...I'm sure others would benefit from seeing it as well. We're all here to learn and improve in our trading.

Enjoy your weekend,

many thanks for your clear answer for my question,thank you for taking the time,i have asked a few questions on this forum and normalily i just get ignored or abuse,this thread look like being different just fellow traders trying to make a few pips not idiots with outsize egos only posting winning fantasy trades,

all best and good trading to you