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Andrews Pitchfork (Median Line)

  • #3,121
  • Nov 11, 2010 1:18pm Nov 11, 2010 1:18pm
Is it time to reverse?
We'll see...
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  • #3,122
  • Nov 11, 2010 3:26pm Nov 11, 2010 3:26pm
I decided to change where I placed the lower red sliding parallel due to deciding to use the previous resistance line.

Also, I highlighted the points used in drawiing the action-reaction lines. The dashed lines are midlines.
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #3,123
  • Edited 5:07pm Nov 11, 2010 4:56pm | Edited 5:07pm
EU240

wouldnt mind 1.3580
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  • #3,124
  • Nov 11, 2010 5:02pm Nov 11, 2010 5:02pm
anthoniex,

I applaud your effort in "surfing the wrinkle in time." Most dare not surf these waters, for it is filled with peril and will take years to master, that is, if you are fortunate enough to master it. All but a handful never make it that far on the journey, they get frustrated and throw in the towel.

But be diligent, the journey is worth it in the end.

As for the use of fibonacci, do not let this be the end of your journey, but the beginning. I think you will find as you progress that this particular technique, while better than no time study, is filled with "I hope there is a change here." Many other techniques will give you a firm, "Change will happen here."

fwiw,

xt
  • #3,125
  • Nov 11, 2010 5:13pm Nov 11, 2010 5:13pm
i hear you xt, ...........the frustrated bit

Quoting xtsunami
........they get frustrated and throw in the towel.

But be diligent, the journey is worth it in the end.
  • #3,126
  • Nov 11, 2010 5:15pm Nov 11, 2010 5:15pm
Quoting auxesis
OUCH
Ya just had to highlight the old man in bright red, didn't ya....
  • #3,127
  • Nov 11, 2010 5:22pm Nov 11, 2010 5:22pm
Quoting PeterE
i hear you xt, ...........the frustrated bit
Peter,

You are further on the journey than you realize. Take a good hard look at the eur240 you posted. The two forks have inherent in them a time factor that is as good as anything I have studied. But, most will miss it. It is all a matter of perspective, do you see it or don't you...

fwiw,

xt
  • #3,128
  • Nov 11, 2010 5:24pm Nov 11, 2010 5:24pm
Quoting PeterE
EU240

wouldnt mind 1.3580
In my range.
My numbers are not Elliot Wave, just practical dummy wave counting...
We'll see how the Price Action reacts to these lines...
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  • #3,129
  • Nov 11, 2010 5:34pm Nov 11, 2010 5:34pm
Quoting xtsunami
anthoniex,

I applaud your effort in "surfing the wrinkle in time." Most dare not surf these waters, for it is filled with peril...
Thanx XT for the encouragement...
Frustration has always been my company but I always have hope. This journey is long and far...
  • #3,130
  • Nov 11, 2010 6:15pm Nov 11, 2010 6:15pm
Quoting xtsunami
Ya just had to highlight the old man in bright red, didn't ya....
  • #3,131
  • Nov 11, 2010 7:23pm Nov 11, 2010 7:23pm
Quoting PeterE
is this what you elude to
They always say Time will Tell
  • #3,132
  • Nov 11, 2010 7:44pm Nov 11, 2010 7:44pm
that time can reveal, is an interesting concept (and not just in trading), i hadnt thought about it

if history/time repeats, then we can project future probabilities using time........it becomes even more powerful when a future time and ML intersect

weaving time into a trading strategy, hmmm


Quoting anthoniex
They always say Time will Tell
  • #3,133
  • Nov 11, 2010 8:11pm Nov 11, 2010 8:11pm
Quoting PeterE
that time can reveal, is an interesting concept (and not just in trading), i hadnt thought about it

if history/time repeats, then we can project future probabilities using time........it becomes even more powerful when a future time and ML intersect

weaving time into a trading strategy, hmmm
As XT implied, we're probably just scratching the tip of an iceberg.

Some old school secret to Time and Price Squared are probably NOT appropriate to be discussed in public forum...to be honest...................

JUST KIDDING!
  • #3,134
  • Nov 11, 2010 8:17pm Nov 11, 2010 8:17pm
Quoting PeterE
that time can reveal, is an interesting concept (and not just in trading), i hadnt thought about it

if history/time repeats, then we can project future probabilities using time........it becomes even more powerful when a future time and ML intersect

weaving time into a trading strategy, hmmm
Median lines have aspects of time and price. Most see only the price aspect.

fwiw,

xt
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  • #3,135
  • Nov 11, 2010 8:31pm Nov 11, 2010 8:31pm
yes, i knew
although i hadnt considered "time" projections on a chart devoid of lines

Quoting xtsunami
Median lines have aspects of time and price. Most see only the price aspect.

fwiw,

xt
  • #3,136
  • Nov 11, 2010 8:31pm Nov 11, 2010 8:31pm
gotcha!!
nod nod wink wink

Quoting anthoniex
As XT implied, we're probably just scratching the tip of an iceberg.

Some old school secret to Time and Price Squared are probably NOT appropriate to be discussed in public forum...to be honest...................

JUST KIDDING!
  • #3,137
  • Nov 11, 2010 11:59pm Nov 11, 2010 11:59pm
Aside from seeing the vertical lines drawn, I'm at a loss as to understanding the time concept.

Anyone care to elaborate?
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #3,138
  • Nov 12, 2010 1:13am Nov 12, 2010 1:13am
Quoting xtsunami
Median lines have aspects of time and price. Most see only the price aspect.

fwiw,

xt
One of the best charts I found @ FF.
I thought about it, now I got a confirmation from a master....
Thanks, XT!
  • #3,139
  • Nov 12, 2010 6:05am Nov 12, 2010 6:05am
Quoting kapital
Aside from seeing the vertical lines drawn, I'm at a loss as to understanding the time concept.

Anyone care to elaborate?
Time is an aspect of trading that is often overlooked, yet most inherently use it in some way. For the moving average crossover trader, they will say, " I am going long or short when these two averages cross." The key word is when. It has the understanding of an element of time.

A pure price action trader will often say, "when price reaches this area of support or resistance, I will go long or short." An element of time.

Our lives run by time. Whether you want to believe time exists or not. How powerful to your trading if you knew when a change will happen, even if it is within a two or three bars. If I told you tomorrow between 10am and 1045 the euro was going to change its course and either reverse, accelerate its current trend or move into a range it would be tremendously helpful to know, don't ya think.

I have vertical lines on my chart as I have posted. The three minute chart has no time or date stamp, unfortunately, because it is created by the period converter
indicator for mt4. These tell me (within a couple of bars) when the euro is making a turn. Using this with technical price tools and the combination has been very very good to me over the years.

Please let me add that using time as a trading tool is not something that should be used in and off itself, but as past of an overall trading approach. While techniques and strategies can be learned, their implementation is upon the shoulders of the individual.

fwiw,

xt
  • #3,140
  • Nov 12, 2010 8:04am Nov 12, 2010 8:04am
Something to spur your thinking. Attached is a chart with a particular timing strategy. This is an hourly chart which counts out a certain "heartbeat" of the euro for the trading week. I used both last week and this week. The pulse is 10 hours.

Is it perfect? No. But, of the "hopeful strategies"(some type of tool not based on market structure) you could do much worse.

I begin mine on Monday at midnight and am just using the cycle tool in mt4 set to ten hours.

fwiw,

xt
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