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Andrews Pitchfork (Median Line)

  • #3,881
  • Jan 27, 2011 11:46pm Jan 27, 2011 11:46pm
critical point.
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  • #3,882
  • Jan 27, 2011 11:48pm Jan 27, 2011 11:48pm
This "regular schiff" pitchfork, it appears, is what is guiding the trend.
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #3,883
  • Jan 27, 2011 11:59pm Jan 27, 2011 11:59pm
NU is showing nice reversal from ML.
Small scalp short let us see how it will unfold.

TAQ
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  • #3,884
  • Jan 28, 2011 1:12am Jan 28, 2011 1:12am
can GU get down to 1.5775ish on friday?
.............that's my personal agenda at least
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  • #3,885
  • Jan 28, 2011 1:23am Jan 28, 2011 1:23am
Quoting PeterE
can GU get down to 1.5775ish on friday?
.............that's my personal agenda at least
How 'bout 1.5635
  • #3,886
  • Jan 28, 2011 1:28am Jan 28, 2011 1:28am
well, any thing is possible, 5775 is the projection, but i'll be exited and all closed for the week well before then
  • #3,887
  • Jan 28, 2011 3:07am Jan 28, 2011 3:07am
Quoting PeterE
that's a daily, i want this trade over with in the next couple of hrs

I just realized you were referring to GBP/USD...sorry.

With the below setup, price is on a probable path to make it to the encircled area. All one can do now is wait and see.
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #3,888
  • Jan 28, 2011 3:40am Jan 28, 2011 3:40am
yes, i think your MLs even though drawn differently to mine, come up with the same target 5775
  • #3,889
  • Jan 28, 2011 7:01am Jan 28, 2011 7:01am
very early stages, but "what if"?
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  • #3,890
  • Jan 28, 2011 7:17am Jan 28, 2011 7:17am
Quoting PeterE
very early stages, but "what if"?
Even if you were right, I guarantee you'd close the trade before you hit the median line.
  • #3,891
  • Jan 28, 2011 7:38am Jan 28, 2011 7:38am
you guarantee it do you

Quoting ScoTTyBEEE
Even if you were right, I guarantee you'd close the trade before you hit the median line.
  • #3,892
  • Edited 10:12am Jan 28, 2011 7:47am | Edited 10:12am


US news came out at worst then expected but limit. 3.2 Henry Liu analysis was

8:30am (NY Time) US ADV GDP q/q Forecast 3.5% Previous 2.6%
ACTION: 3.8% SELL EURUSD 3.2% BUY EURUSD

But nothing is moving. I call it a week! And have a very good week-end!
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #3,893
  • Jan 28, 2011 11:11am Jan 28, 2011 11:11am
Quoting anthoniex
SHORT @ 1.3747
SL: 20 pips
TP: 500 pips
Jumped in short @ 3670! Your beating us all!
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #3,894
  • Edited 11:46am Jan 28, 2011 11:29am | Edited 11:46am
Quoting GreatYves
Jumped in short @ 3670! Your beating us all!
Is the swing almost over for now?...
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  • #3,895
  • Jan 28, 2011 11:57am Jan 28, 2011 11:57am
Quoting anthoniex
Is the swing almost over for now?...
I'm trading H4, i am there for a while.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #3,896
  • Jan 28, 2011 12:37pm Jan 28, 2011 12:37pm
Quoting anthoniex
Is the swing almost over for now?...
scalping long @ 1.3585
sl:15 pips
tp: 40 pips
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  • #3,897
  • Jan 28, 2011 2:18pm Jan 28, 2011 2:18pm
...
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #3,898
  • Jan 28, 2011 3:46pm Jan 28, 2011 3:46pm
Quoting anthoniex
scalping long @ 1.3585
sl:15 pips
tp: 40 pips
trade closed.

PitchFork Grid Works
because it's easier to draw, the pivots are based on Alan Andrews ML method which describe the probable path of price really well.

Have a nice weekend all!
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  • #3,899
  • Jan 29, 2011 9:36am Jan 29, 2011 9:36am
Quoting enebro
Hi Eaglestar,
Can you please explain what you mean by market structure.? I have gone through all your attachments of your previous posts. I have noticed horizontal lines. Can you please explain what makes you decide to draw those lines.
Thanks in advance.
I look for places that have been tested before if you go through the Action Reaction course on www.medianline.com you will find it there. It takes about multi pivot lines which leads into the discussion about frequency or a line that gets tested many times. As far as good threads to read on support resistance search forexfactory for The System II or NoBrainerTrades. Many times a horizontal resistance line with be tested and turn on a dime because that is where large orders are and/or where large speculators are. As far as market structure goes it is about highs and lows, peaks and troughs. A couple of good books are Technical Analysis of Stock Trends and also the work of Martin Pring to get an idea of market basics. Tim may not endorse these however. Go through his articles on www.medianline.com there is so much good free information there.

Take Care and Trade well
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #3,900
  • Jan 29, 2011 9:53am Jan 29, 2011 9:53am
Many thanks for the response Eaglestar. It is really appreciated.
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