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Andrews Pitchfork (Median Line)

  • #3,401
  • Dec 17, 2010 2:56pm Dec 17, 2010 2:56pm
Quoting taq
Updated charts.

TAQ
Got a question:

on the AUD/USD what made you trigger the sell from a price action perspective?

Same question for EUR/USD, the reason why im asking is i find myself always in pickle with the 50% and 25% lines when price action moves there since its hard for me to see whether the price is ultimately rejected or the price action is being accepted upwards.

Could use some help on that but i cant find any distinctive patterns in price action and google hasnt offered anything interessting either.

Maybe you could explain your reasoning for that sell line
  • #3,402
  • Dec 18, 2010 4:07am Dec 18, 2010 4:07am
Quoting taq
Updated charts.

TAQ
Nice Charts
  • #3,403
  • Dec 18, 2010 4:21am Dec 18, 2010 4:21am
Quoting xtsunami
Shane,

My personal trading motto is: Semper Gumby (always flexible!).

xt
BTW the name is Shan(sounded out Shawn) lol...And that is a very good trading motto...Ego only hurts one in this game!

I have been going back to my roots with Andrew's tools. The base of Andrew's method is newtons third law. We use pitchforks and A/R lines to measure the different cycles and apply this concept! I used to put up all of the major and minor ML's on a chart and look for price action at these levels. I am seeing that this is not neccessary. The Vibration will be prevalent on the most recent and major cycles. From there we can apply the Action-reaction concept!
Attached Image (click to enlarge)
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  • #3,404
  • Dec 18, 2010 6:04am Dec 18, 2010 6:04am
Shan,

Please accept my apologies for mistaken your name. I read someone called you shane in an earlier post and just followed suit.

xt
  • #3,405
  • Dec 18, 2010 7:31am Dec 18, 2010 7:31am
Quoting Orbital
Got a question:

on the AUD/USD what made you trigger the sell from a price action perspective?

Same question for EUR/USD
Orbital I am not good @ explaining things, but I will try.
If you check out candle chart you will be able to see price rejection from energy point clearly in AU chart.
IN EU if you check the background price had respected this level & we have pin bar in background & reversal from quartile line.

Regards,
TAQ
Attached Image(s) (click to enlarge)
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  • #3,406
  • Dec 18, 2010 10:02am Dec 18, 2010 10:02am
Quoting taq
Orbital I am not good @ explaining things, but I will try.
If you check out candle chart you will be able to see price rejection from energy point clearly in AU chart.
IN EU if you check the background price had respected this level & we have pin bar in background & reversal from quartile line.

Regards,
TAQ
Your explanation was completely sufficient to me, i didnt bother checking the background levels in enough detail since im usually on 4HR timeframe.

Interessting but that background pinbar was a bit small to be honest.

I've got a different question for you though. If you look at the EUR/USD on a daily and then on a weekly timeframe, you will see an extreme pinbar on the weekly, this pimbar indicates we are moving more and more towards the next quarterline and or median line ultimately.

Any comments on the daily bar (the last one) because its not really a pinbar and im trying to figure out what it means ^^
  • #3,407
  • Dec 18, 2010 12:17pm Dec 18, 2010 12:17pm
Quoting Orbital
Your explanation was completely sufficient to me, i didnt bother checking the background levels in enough detail since im usually on 4HR timeframe.

Any comments on the daily bar (the last one) because its not really a pinbar and im trying to figure out what it means ^^
I always check background details to find out probable support & resistance zones & than watch price action into those areas to initiate positions.

While I was checking other time frames for the last daily bar in EU other timeframes where also showing reversals, have a look.

Trading is a probability business I find high probable short trade in EU so I initiate position I covered some of my position . Let us see how it will unfold.

Regards,
TAQ
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  • #3,408
  • Dec 18, 2010 1:45pm Dec 18, 2010 1:45pm
Very nice
  • #3,409
  • Dec 18, 2010 3:11pm Dec 18, 2010 3:11pm
Does anybody have access to Andrew's course letters that were distributed when he was still actively teaching?
  • #3,410
  • Dec 18, 2010 3:12pm Dec 18, 2010 3:12pm
Quoting xtsunami
Shan,

Please accept my apologies for mistaken your name. I read someone called you shane in an earlier post and just followed suit.

xt
No worries, and thanks for your insight...it has been helpful
  • #3,411
  • Dec 19, 2010 5:27pm Dec 19, 2010 5:27pm
Kapital, somehow your post from a few hours back isn't here. Can you repost?
  • #3,412
  • Dec 20, 2010 9:08am Dec 20, 2010 9:08am
in nzdjpy H1, hidden divergence is standing out.it may cause price failure.i m monitoring
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  • #3,413
  • Dec 20, 2010 12:28pm Dec 20, 2010 12:28pm
Quoting taq
I always check background details to find out probable support & resistance zones & than watch price action into those areas to initiate positions.

While I was checking other time frames for the last daily bar in EU other timeframes where also showing reversals, have a look.

Trading is a probability business I find high probable short trade in EU so I initiate position I covered some of my position . Let us see how it will unfold.

Regards,
TAQ
This is one of the things I dont like about trading. I feel like I have to keep my eye of every single chart time frame. A bullish trade on the daily could be a bearish trade on the weekly. Many times I just end up not knowing what the hell to do, resulting in losses or missing good trades.
  • #3,414
  • Dec 21, 2010 12:21am Dec 21, 2010 12:21am
Heres a 240 view of the EUR/USD, and a 1hr chart. Looks to be a nice entry off
of a break of the range and a retest. Expecting the lows to be taken out
eventually!
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  • #3,415
  • Dec 21, 2010 12:24am Dec 21, 2010 12:24am
Quoting big_pipin
This is one of the things I dont like about trading. I feel like I have to keep my eye of every single chart time frame. A bullish trade on the daily could be a bearish trade on the weekly. Many times I just end up not knowing what the hell to do, resulting in losses or missing good trades.
I hear you on that! It can make things harder at times but also be an asset once we can learn to put the picture together. I was once told that I should learn to paint the picture, meaning to chart the weekly-daily-4h etc. until it is second nature what the picture is telling me.
  • #3,416
  • Edited 5:59am Dec 21, 2010 3:04am | Edited 5:59am
hi big,
personally, i use only 240m and 60m at the same time, and it seems to work quite nicely
and i always got the impression Tim and Shane only traded off 1 TF at a time

on a parallel issue, i've always found MLs time consuming re setting up, sifting through lots of pairs, this for me is a negative, but one i need to come to terms with if an MLer; actually i'll probably just trade off 240s in the future, this should make things easier

Quoting big_pipin
This is one of the things I dont like about trading. I feel like I have to keep my eye of every single chart time frame. A bullish trade on the daily could be a bearish trade on the weekly. Many times I just end up not knowing what the hell to do, resulting in losses or missing good trades.
  • #3,417
  • Dec 21, 2010 12:36pm Dec 21, 2010 12:36pm
Quoting ShanB
I hear you on that! It can make things harder at times but also be an asset once we can learn to put the picture together. I was once told that I should learn to paint the picture, meaning to chart the weekly-daily-4h etc. until it is second nature what the picture is telling me.
Hello ShanB,

Putting the picture together is what it is all about. I think sometimes traders aren't sure which time-frame to trade because they don't know if they are swing trading, scalping or position trading. It is good to look at the longer T/Fs because they drive the direction of the price, which actually is formed, pip by pip, on the smaller time-frames. Think you've got it down.

To BigPipin,

Do you pay attention to the weather report at night to anticipate how you should plan for the next day? This is the picture I paint for students to get it. If the weatherman says expect rain (the longer time-frames), then at some point IT MUST RAIN if the conditions continue to develop. If not, it may be sunny instead. So, you leave home with an umbrella etc. and only use it when the condition presents itself. You just need to know what is coming and look for it to happen. Also, you might need to clarify what is a set-up for you and what constititutes an entry...have clear conditions for each...down to the T/F.

Hope that helps,


FX4Newbies

P.S. Free video of live market analysis available for those who would like to see it.
Trade what you see, not what you think or feel. Let the market come to you.
  • #3,418
  • Edited 3:38am Dec 23, 2010 3:36am | Edited 3:38am
[quote=DeltaThree;4250242]Maybe next move lower in EUR/CHF now getting underway?? Same chart as yesterday, cross starting to probe below that 08 Sep low, target of red median line still open..

As a result, am watching $/CHF closely:
now retesting the abc 1:1 low. The fact that the first correction off that low so firmly rejected the abc 0.618 lvl, suggests to me that maybe the original abc move is not yet complete, and the 1.272 and 1.618 maybe are in play.]


Now nicely walking along that red median towards the 1.272
Test of the 9462 low looks on the cards; breaks that and the 1.618 should be easy.. But, these are all good areas for a base to form and rebound.
Year end markets, so 'spose anything could happen. Will watch how price interacts with those areas of confluence with interest......
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  • #3,419
  • Dec 23, 2010 3:49am Dec 23, 2010 3:49am
EUR/CHF:

After a 1200 pip move, I guess missing the median by 12 pips is ok by me.

The fact that it coincides with the 2:1 ABC level (with the "C" leg also sub-dividing into a near perfect 1:1) is just the cream on the pudding. Target met in my book.

That's it for the year for me - will be back in 2011.
Happy Xmas and New Yew to all
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  • #3,420
  • Dec 23, 2010 4:20am Dec 23, 2010 4:20am
Quoting pips4life
Kapital, somehow your post from a few hours back isn't here. Can you repost?
Check your pm.
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
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