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Andrews Pitchfork (Median Line)

  • #3,341
  • Dec 13, 2010 8:35am Dec 13, 2010 8:35am
kinda yes, for Euro
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  • #3,342
  • Dec 13, 2010 9:17am Dec 13, 2010 9:17am
I think it's more to do with dollar dropping then with GBP and Euro gaining, so maybe someone could post a USD index chart ?
  • #3,343
  • Dec 13, 2010 1:00pm Dec 13, 2010 1:00pm
Ill post my charts in an hour or two, yes i saw that fork but i discounted it for not meeting my fork criterias.
  • #3,344
  • Dec 13, 2010 11:22pm Dec 13, 2010 11:22pm
Had a question for eagle and fork trader, and other pros on here

Is it "illegal" to have a fork like this, where one of the points is BEHIND the point for the median line?

Here is the chart to show what I mean. This is N/U on a daily, and you can see the pivot I'm using for the UML is behind the pivot for the median line..

is this ok to draw forks this way?
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  • #3,345
  • Dec 14, 2010 12:15am Dec 14, 2010 12:15am
herewith my pitchfork(s) for N-U .. I might add that I have only just done them now, well after the event .. but the fact remains: they would have worked!

as can be seen, I use Zig-zag for the key-points .. & I like to do a fork about half a dozen periods away from the last "zig"

where you see the red arrow, would have to be a perfectly normal fork, complete with entry-point.

later, I would have done the blue fork & arrow .. again the perfect entry point. (the arrows were put in by myself, they are not a "signal")

what I'm getting at, there would have been nothing contrived or artificial about using forks in this way .. H-1 timeframe, zig-zag up to fairly close ..

yes, I know the question: did I act on this, on either occasion?

no, of course not.
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  • #3,346
  • Dec 14, 2010 1:14am Dec 14, 2010 1:14am
Looks like a nice thread here, so I'll throw in a few charts every now and then, and see how it goes...

240 min cable:
That red down fork has done it's stuff, so its upper parallel might well now be acting as support. Blue upper fork still has its median line as a live target, and its 25% is doing a pretty fine job there... Maybe this last pin forming off the 50% fib is going to provide a long entry set-up? In any event, the lovely confluence leaves me on the long side....
Now, if the next candle were to show a downside pin rejection of the red upper, it would look very bullish....
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  • #3,347
  • Dec 14, 2010 2:14am Dec 14, 2010 2:14am
Nice 1st post . You new to trading?
  • #3,348
  • Dec 14, 2010 6:15am Dec 14, 2010 6:15am
Quoting DeltaThree
Looks like a nice thread here, so I'll throw in a few charts every now and then, and see how it goes...

240 min cable:
That red down fork has done it's stuff, so its upper parallel might well now be acting as support....
You can consider it to be a slight overshoot of the UML on that chart, downfork is still in effect as of now.

I would be very interested in seeing your EUR/USD forks
  • #3,349
  • Dec 14, 2010 7:23am Dec 14, 2010 7:23am
Quoting big_pipin
Nice 1st post . You new to trading?
Tks big_pipin!

No, just new to the Forex Factory board.
  • #3,350
  • Dec 14, 2010 7:35am Dec 14, 2010 7:35am
Quoting Orbital
You can consider it to be a slight overshoot of the UML on that chart, downfork is still in effect as of now.
Yep, it sure is still having influence!

But, imo, the touches on the blue up fork, the action off the 25% line and off the sliding parallel under the lows, all suggest to me that something else is getting underway. Entry agsinst that last swing low now possible for not much risk, if that doesn't work will try against that black pivot line/lower pblue parallel...
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  • #3,351
  • Dec 14, 2010 7:37am Dec 14, 2010 7:37am
Quoting Orbital

I would be very interested in seeing your EUR/USD forks

Sure, no problem

Daily bars first, then 240 min candles:
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  • #3,352
  • Dec 14, 2010 8:58am Dec 14, 2010 8:58am
Quoting DeltaThree
Yep, it sure is still having influence!

But, imo, the touches on the blue up fork, the action off the 25% line and off the sliding parallel under the lows, all suggest to me that something else is getting underway. Entry agsinst that last swing low now possible for not much risk, if that doesn't work will try against that black pivot line/lower pblue parallel...
Ill check the eur charts in a second because i wanted to reply first. According to dr Andrews when Price FAILS to reach the median line its target is the horizontal C pivot, thats why im speculating that the downfork is still more dominant unless there is a major breakout, there is a technique to determine the timeframe in which the price is supposed to reach the median line but i found it to be highly ineffective.
  • #3,353
  • Dec 14, 2010 9:01am Dec 14, 2010 9:01am
Quoting Orbital
...
hey man did not know u were a Forker! nice blog
  • #3,354
  • Edited 9:12am Dec 14, 2010 9:11am | Edited 9:12am
Quoting Orbital
According to dr Andrews when Price FAILS to reach the median line its target is the horizontal C pivot, thats why im speculating that the downfork is still more dominant unless there is a major breakout, there is a technique to determine the timeframe in which the price is supposed to reach the median line but i found it to be highly ineffective.

You mean a failure to meet the blue median tgt?? Bit early to think of anything failing there, imo. Since the move off the 5484 low, it's been making higher highs+ lows. Wud need some of those swing lows to be taken out, before I would worry abiout the blue fork not doing what it shud...

All imho, of course.
  • #3,355
  • Dec 14, 2010 9:32am Dec 14, 2010 9:32am
Thanks Martingale Yeah im a devout Pitchfork user, the blog i don't update to often because im busy trading but i should write more over the weekends

Im a little bit frustrated right now because EURUSD forks on any timeframe lower than D1 and 4H are pure madness... GBP/USD on a 1hour chart is a pure goldmine because you literally get to put up so many forks on those swings that if youre playing a Median line strategy you just make insane amounts of pips.

EurUSD is a mess and thats bothering me.. the fact that lower timeframe forks are not working annoys the living hell out of me

Will be watching and posting in this thread more often as of now because the EUR/USD thread is starting to severly annoy me
  • #3,356
  • Dec 14, 2010 12:19pm Dec 14, 2010 12:19pm
Quoting Orbital
Thanks Martingale

EurUSD is a mess and thats bothering me.. the fact that lower timeframe forks are not working annoys the living hell out of me

Will be watching and posting in this thread more often as of now because the EUR/USD thread is starting to severly annoy me
Orbital only for you my friend ... market always have an order ... you just need the eyes ...

I have used the centre of the gap as a pivot and passed the CL through it ... rest is obvious ...
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Let someone arise from my bones as an avenger. Jesse Livermore
  • #3,357
  • Dec 14, 2010 12:21pm Dec 14, 2010 12:21pm
Looks like many of us have the same forks...which is the way it should be, because the key pivots are in front of your eyes! Trade what you see. Pin bar on 4 hour...and use the count to frame the trade!
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  • #3,358
  • Dec 14, 2010 12:29pm Dec 14, 2010 12:29pm
Quoting forkTrader
I think 1.3472 will be a key level for EURUSD on the daily chart
I dont know if anybody had paid any attention to this warning ... I think i made this post last week monday ... here is the follow up ..
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Let someone arise from my bones as an avenger. Jesse Livermore
  • #3,359
  • Dec 14, 2010 2:39pm Dec 14, 2010 2:39pm
Quoting Orbital
Thanks Martingale Yeah im a devout Pitchfork user, the blog i don't update to often because im busy trading but i should write more over the weekends

Im a little bit frustrated right now because EURUSD forks on any timeframe lower than D1 and 4H are pure madness... GBP/USD on a 1hour chart is a pure goldmine because you literally get to put up so many forks on those swings that if youre playing a Median line strategy you just make insane amounts of pips.

EurUSD is a mess and thats bothering me.. the fact that lower timeframe forks are...
Lower time frames have bothered me too. I put some videos up on youtube of me trading off a 1hr, and it frustrated me so much, I think I stopped trading and coming on these forums for about a month.

It's a tough business.
  • #3,360
  • Dec 14, 2010 5:03pm Dec 14, 2010 5:03pm
hey pitchfork gurus...

I had this chart of EU.

I think that you only need 2 lines to predict where the last one is going to be.

The 2nd chart shows that the white arrows predict the green arrow.

The 3rd chart is the curent situation.

Do you guru's agree with this.?
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