Andrews Pitchfork (Median Line)

Hey how does this eurusd H4 fork look? Is it valid?

Not really because you drew it from the middle of no where, try to draw pitchforks at the beginning of new trends, or zoom into smaller time frame..

RED - 4H
GREEN - 15M

Wow, that makes perfect sense thank you very much !

I dont have any room on ensign echat neither I am in any chat room.

frankkn.
You have posted a fork set to Elliot wave pivots 4-5-A.
Usually quite strong.
ice chills' forks are very closely correlated to the ranges of price action shown.
Also quite strong.

Median Lines or Pitchforks are drawn from High low High or Low High Low pivots. Every time you draw a fork from these pivots you have a 80% probability of reaching the median line. The theory behind this does not made difference in probablity if you draw fork the way you have drawn or they way icechill has wrote about.

The only reason we draw forks is to find high proability trades. Often forks drawn from very close pivots do not offer good trading locations, so we focus on major pivots and try to tune into the frequency of the market. Once we find the frequency, rest is patience and doing some clicks on your terminal, that is how simple trading gets.

Also, drawing a fork is the easiest part of trading using the median lines, market structur is the hard part. Market structure will tell you when and why of drawing a fork.

Attend free monday sessions of marketgeometry and read some articles on medianline (add the .com to both), it will enable you to understand how to use Median lines for trading.

On a 240M EURO I am still watching if there are buyers. I am not ready to draw the fork (the way you were drawing it).

Hope it will help

Great setup on EURJPY 144 Ticks, felt I was calling all the shots ...

EURUSD 20 minutes

EUR/USD 4 hour long term view.

S&P 240-min nice reversal from energy point.
Let us see how it will unfold??

Regards,
TAQ

Updated chart Quick 25 points.

Happy trading you all
TAQ

t pitchfork practice.indicators are positive

nice chart.touch ML or not.please watch closely

MLs are my favourite trading tool, but recently i have been having doubts re the validity of this favouritism

firstly, i find drawing MLs across a multitude of TFs and pairs quite labour intensive, not to mention quite discretionary

at times i envy people like this who just switch on their PC and the charts, because they use indis, are automatically set-up and waiting for them

secondly, i encounter extended periods when i cant seem to generate quality opportunities from my ML drawing. No doubt skill level plays a part here, but so does the tool i would argue.

i wonder if others (in particular those who have been using MLs for over 1 year) encounter similar obstacles or at times have similar reservations??

thanks

The grass always seems greener on the other side. The thing with indicator traders is that many of them dont understand market structure.

Tim Morge says - Market Stucture - Context - Frequency

errr, mind if i ask.

what is the difference between trendlines and pitchfork?

A trend line doesn't show the action/ reaction of the market, but im probably not the best one to ask. A trendline connects the dots, while a fork cuts through price to show the path it will most likely follow.

Diff b/w Trend Lines and Forks
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A trend line is just a line in space (b/w price and time). It carries no probability with it. Price may or may not respect it.
Forks carry probability with it. There is an 80% chance that price will touch the latest ML. It also shows the probable path of price. ML is a leading indicator with a mathematically proven probability.

Cannot Find Good Trades with ML
---------------------------------
I always find very good trades using ML. If you will put more emphasis on the setups and market structure, you will always have good trades. I have said it numerous times, drawing a fork is the easiest part, reading price action is the hard part and it will help you frame your trade and I am sorry there is no shortcut to it.
Secondly, if you are not comfortable with ML, there are thousand other trading systems. In the end, it does not matter which trading system you use, its about reading price action and solid money management that will make you money.

Here you go with a nice trade in GBPUSD, I can easily spot trades like these, almost everyday