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Andrews Pitchfork (Median Line)

  • #3,441
  • Dec 28, 2010 9:28am Dec 28, 2010 9:28am
Quoting rashygomez
so basically they're much more powerful?
Absolutely!!! They also indicate the possible trend (direction of the move) before price gets there. They provide potential profit targets and possible ETAs (Estimated Times of Arrival)..AND they can work with most other methods or approaches to trading that are out there...AND has a built-in 80% probability of reaching the ML target...AND....so much more.

Just nothing like it...just my 3 1/2 cents. The attached chart will show how forks can confirm Gartley set-ups which depend on Fibs.

Wouldn't want to trade without them.

FX4Newbies
Attached Image (click to enlarge)
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Trade what you see, not what you think or feel. Let the market come to you.
  • #3,442
  • Dec 28, 2010 9:32am Dec 28, 2010 9:32am
so are you saying it's possible to be profitable with just this alone? and nothing else?
  • #3,443
  • Dec 28, 2010 9:35am Dec 28, 2010 9:35am
Trendlines are very useful, but this is what median line is all about:
Attached Image (click to enlarge)
Click to Enlarge Name: sine wave.PNG Size: 14 KB


Some trader trade solely with it! But trade with the assumption there are market makers manipulating the spot market to their advantage. This knowledge have help me a lot.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #3,444
  • Dec 28, 2010 9:35am Dec 28, 2010 9:35am
Quoting rashygomez
so are you saying it's possible to be profitable with just this alone? and nothing else?
Will answer your question as you have asked it first. Yes, it is possible to be profitable with just this approach alone... but, I personally like having a second opinion. For example, Fibs work really well. My first approach is to analyze price using the Pitchforks, then, when I see what I need to see, I fine-tune to determine the entry. There are very successful traders who use this approach alone but have a very good understanding of Market Structure and the geometry of price moves.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #3,445
  • Dec 28, 2010 9:37am Dec 28, 2010 9:37am
Quoting GreatYves
Trendlines are very useful, but this is what median line is all about:
Attachment
That's right...there are laws of Physics involved...and geometry.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #3,446
  • Dec 28, 2010 9:43am Dec 28, 2010 9:43am
Quoting FX4Newbies
That's right...there are laws of Physics involved...and geometry.

FX4Newbies

Hey Donna! Your faster then me... Fibs and S&R is the basis but i also included the notion that market makers do exist and are manipulating the spot market at there advantage... Funnily it kind of help me!
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #3,447
  • Edited 10:05am Dec 28, 2010 9:45am | Edited 10:05am
Quoting GreatYves
Hey Donna! Your faster then me... Fibs and S&R is the basis but i also included the notion that market makers do exist and are manipulating the spot market at there advantage... Funnily it kind of help me!
Fibs and S&R are very powerful concepts to add...forks can also help you to see where the "manipulations" are happening if you know what to look for where . It can actually help you to know when the big players are getting ready to move the market. It's all good...

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #3,448
  • Dec 28, 2010 10:18am Dec 28, 2010 10:18am
Quoting FX4Newbies
That's right...there are laws of Physics involved...and geometry.

FX4Newbies
Ok, thanks a lot.
  • #3,449
  • Dec 28, 2010 10:57am Dec 28, 2010 10:57am
Quoting rashygomez
Ok, thanks a lot.
No probs. Glad I was able to help you get a clearer understanding of the difference between the two.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #3,450
  • Dec 28, 2010 11:32am Dec 28, 2010 11:32am
Quoting big_pipin
Elliot Wave? No. I've been interested in it, but I couldnt find anyone that ever traded it successfully. Seemed to always work better in theory than in practice, but perhaps I'm wrong?..

anyway, here is that eur/jpy trade that I got slaughtered on last night as I slept confidently .
Hi pipin I am trying to understand the reason why you initiated long there in EJ when the trend was down??
Have a look at the chart look at the symmetry & the confluence point WL1 & ML2.

Regards,
TAQ
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  • #3,451
  • Dec 28, 2010 11:46am Dec 28, 2010 11:46am
I understand that e/j was in a bear trend, I saw the same on my 1hr charts.

Look at it this way, ok..

A bull trend is defined as what? .. a series of higher highs and higher lows, yes?

When I saw price pop, and retrace back down to that green support line.. I think tim calls this type of move a "switch back", I went long, expecting that previous support to hold up, and price to continue higher after the "wash and rinse" of the amature traders.


I was wrong of course, which seems to be very common with me. You guys should do the opposite of what I do!, you'll make a fortune
  • #3,452
  • Dec 28, 2010 3:12pm Dec 28, 2010 3:12pm
Quoting big_pipin
Elliot Wave? No. I've been interested in it, but I couldnt find anyone that ever traded it successfully. Seemed to always work better in theory than in practice, but perhaps I'm wrong?..

anyway, here is that eur/jpy trade that I got slaughtered on last night as I slept confidently .
No, this is not Elliot Wave but similar and more simpler! Alan Andrews had his own spin on Elliot wave after he saw the power of it. Andrews saw that after 5 significant pivots had formed in a trend that a chance of reversal was likely(3 pushes down/up). Andrew's used the count as a tool successfully, and I'm sure that Tim Morge uses it as well even if he does not mention it!

You cannot use this successfully unless you master it, look for Counts within counts(cycles within cycles). Good source material on Andrew's work is the Pitchfork Primer course. It is very simple but gives you all you need to understand Andrews work.
  • #3,453
  • Dec 28, 2010 3:33pm Dec 28, 2010 3:33pm
Quoting ShanB

Good source material on Andrew's work is the Pitchfork Primer course. It is very simple but gives you all you need to understand Andrews work.

This ? http://www.pitchforkprimer.com/Tradi...Pitchfork.html

taught by some guy named gordon selling his book for 69 dollars...
  • #3,454
  • Dec 28, 2010 3:33pm Dec 28, 2010 3:33pm
Quoting ShanB
No, this is not Elliot Wave but similar and more simpler! Alan Andrews had his own spin on Elliot wave after he saw the power of it. Andrews saw that after 5 significant pivots had formed in a trend that a chance of reversal was likely(3 pushes down/up). Andrew's used the count as a tool successfully, and I'm sure that Tim Morge uses it as well even if he does not mention it!

You cannot use this successfully unless you master it, look for Counts within counts(cycles within cycles). Good source material on Andrew's work is the Pitchfork Primer...
No tool is perfect, and you must update your count and be aware of other possibilities. As XT said in one of his posts "Semper Gumby"(Always Flexible)
Very powerful tool nonetheless...helps to bring some order to the market so you can anticipate not always be reacting!
Attached Image(s) (click to enlarge)
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  • #3,455
  • Dec 28, 2010 3:40pm Dec 28, 2010 3:40pm
Interesting, but it does seem rather subjective, like forks them-selves, no two traders seem to draw the same forks..well sometimes, but not always. No two traders will see the same count either I suppose?..

I'll post a chart with my idea of a count (even though I know nothing about it, and you can tell me how well I did).

Also why do most people on here not use the count? .. is it still some dark secret from the trading underworld? There was a EW (elliot wave) thread on elitetrader.com and some here on ff as well, that just make my head spin

When you have waves, within waves, within waves.. etc, it just makes me want to curl up and die. If I ever used a count, it would never be on more than 2 charts.
  • #3,456
  • Dec 28, 2010 3:41pm Dec 28, 2010 3:41pm
Quoting big_pipin
This ? http://www.pitchforkprimer.com/Tradi...Pitchfork.html

taught by some guy named gordon selling his book for 69 dollars...
His course is good...40-something dollars for each part and there are 12 parts.
.
I was recommended to take this course by another trader who was an excellent trader back at Tim Morge's old forum. I remember as I tried to rush through this course, because I thought that I had learned all that I needed to know by drawing forks on charts and that this would be a complement. My friend told me that most people are too concerned with how fast they finish the pitchfork primer and never master it! He told me everything I need to know is in there...and to MASTER it! This Trader's name was Joed, and many of you may be familiar with his work! I am forever grateful for Joed's guidance and the help he has given me!
  • #3,457
  • Dec 28, 2010 3:47pm Dec 28, 2010 3:47pm
So its a work-at-your-own pace type of thing?.. It's kind of like marketgeometry except, affordable? lol.
  • #3,458
  • Dec 28, 2010 3:50pm Dec 28, 2010 3:50pm
Quoting big_pipin
Interesting, but it does seem rather subjective, like forks them-selves, no two traders seem to draw the same forks..well sometimes, but not always. No two traders will see the same count either I suppose?..

I'll post a chart with my idea of a count (even though I know nothing about it, and you can tell me how well I did).

Also why do most people on here not use the count? .. is it still some dark secret from the trading underworld? There was a EW (elliot wave) thread on elitetrader.com and some here on ff as well, that just make my head...
I'm sure some use the count. Look at XT's reply to one of my posts, he uses the count as well and he is probably one of the most knowledgeable individuals when it comes to market geometry/forks etc. in this forum.

I would say that forks are not as subjective as they seem. Remember that Andrew's was an engineer and probably quite skeptical of such things. My friend Joed, told me that I must learn to "paint the picutre". Use tools the larger timeframes down to the smaller until it is second nature what the picture is telling me. This can be overwhelming at first but it will be clearer with repetition. Believe me I am not even close to being in the league of XT, Joed, and some of the traders in this forum. But, I will continue to work with my tools and I think with TIME I will be there.
  • #3,459
  • Dec 28, 2010 3:53pm Dec 28, 2010 3:53pm
Quoting big_pipin
So its a work-at-your-own pace type of thing?.. It's kind of like marketgeometry except, affordable? lol.
Lol I guess you could say that! Also it is 6 parts with 5-6 topics in each part... It will cost you about $240 in all.
  • #3,460
  • Dec 28, 2010 4:08pm Dec 28, 2010 4:08pm
I'll check it out some time. Here is my new analysis of eur/jpy:
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