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Andrews Pitchfork (Median Line)

  • #3,901
  • Edited 12:51pm Jan 29, 2011 12:16pm | Edited 12:51pm
Quoting atman
successful, why do you think the trend is over ?
it's not quite over yet until it's confirmed (made a new low).

why I think it would drop:
Price is exhausted reaching Median Line as shown in this chart
http://www.forexfactory.com/showpost...postcount=3849
Fib Projection
50% time projection from LOW to LOW
Second Major Divergence
Weak Momentum (smaller candles going up)
Spike/ pin going south, bear strength indicated, which is now taken out
ABC wave count
blah..blah..blah

All fib levels in chart 1 were made from impulse wave of January 10th low.

Downtrend projection in chart 2, if resumes, is the red fibs which target the Median Line @ 1.3193 which also is around 1.618 time projection from last swing high. Future diagonal S/R already drawn with Pitchfork Grid, which helps me not to draw new channels every so often

If it ever breaks and close above the red upper median line (UML) price continues going UP.

We'll see how it plays out...

ant-
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eu pf grid.gif Size: 50 KB
  • #3,902
  • Jan 29, 2011 4:13pm Jan 29, 2011 4:13pm
yes, i think its worth risking a few pips -- see how it unfolds monday
(60m inset)
Attached Image (click to enlarge)
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  • #3,903
  • Jan 29, 2011 6:28pm Jan 29, 2011 6:28pm
my chart for USDCHF
http://www.forexfactory.com/showpost...postcount=7150
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf-h4.gif Size: 33 KB
  • #3,904
  • Jan 30, 2011 6:45am Jan 30, 2011 6:45am
HI
in my chart:
http://img.hotoverclock.com/images/5...0669800477.png
  • #3,905
  • Jan 30, 2011 9:32am Jan 30, 2011 9:32am
Quoting anthoniex
it's not quite over yet until it's confirmed (made a new low).

why I think it would drop:
Price is exhausted reaching Median Line as shown in this chart
http://www.forexfactory.com/showpost...postcount=3849
Fib Projection
50% time projection from LOW to LOW
Second Major Divergence
Weak Momentum (smaller candles going up)
Spike/ pin going south, bear strength indicated, which is now taken out
ABC wave count
blah..blah..blah

All fib levels in chart 1 were made from impulse wave of January 10th low.

Downtrend projection...

ANTHONIEX - I was gone after Thursday Morning - What a great Call -

Hope you harvested many pips. Is your Grid Trader a new

Software or is it on your charting platform?

Again GREAT CALL
  • #3,906
  • Jan 30, 2011 11:11am Jan 30, 2011 11:11am
Quoting anthoniex
it's not quite over yet until it's confirmed (made a new low).

why I think it would drop:
Price is exhausted reaching Median Line as shown in this chart
http://www.forexfactory.com/showpost...postcount=3849
Fib Projection
50% time projection from LOW to LOW
Second Major Divergence
Weak Momentum (smaller candles going up)
Spike/ pin going south, bear strength indicated, which is now taken out
ABC wave count
blah..blah..blah

All fib levels in chart 1 were made from impulse wave of January 10th low.

Downtrend...
Very Great Charts Anthoniex.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #3,907
  • Jan 30, 2011 11:19am Jan 30, 2011 11:19am
Quoting Wave Trader
ANTHONIEX - I was gone after Thursday Morning - What a great Call -

Hope you harvested many pips. Is your Grid Trader a new

Software or is it on your charting platform?

Again GREAT CALL
Everyone was calling it. I took no credit, I just had my own timing.
Pitchfork Grid is not anything new, I don't think, but i didn't get it from anyone. Just playing around with my PitchFork Triads/Triangles which can spot the very early Support and Resistance once price bounces upper or lower median line. This triangle is very time consuming though, to draw in MetaTrader so I don't really use it anymore except for the first triangle after the pivots.

I use Fibonacci Channel to draw the grid using Andrew's Median Line Pivots. That's it! Nothing fancy but i really like it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: price not reach ml.gif Size: 40 KB
Click to Enlarge Name: resiatance triad n half vector.gif Size: 30 KB
Click to Enlarge Name: usdcad-h1.gif Size: 39 KB
Click to Enlarge Name: median line with time-price squared.gif Size: 42 KB
  • #3,908
  • Jan 30, 2011 12:01pm Jan 30, 2011 12:01pm
A couple more charts might give some ideas...I'm still studying it
I found the vertical line, from top/ bottom pivot, that hits Median line is usually a strong S/R level
http://www.forexfactory.com/showpost...postcount=3793
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: ml+boxes for pathofprice.gif Size: 34 KB
  • #3,909
  • Jan 30, 2011 12:06pm Jan 30, 2011 12:06pm
Anthoniex! Your simply blowing my mind! I had to put my glasses on and study your chart.

Here's my humble usdchf charts.

Attached Image (click to enlarge)
Click to Enlarge Name: usdchf1440.gif Size: 21 KB
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf240.gif Size: 26 KB
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #3,910
  • Jan 30, 2011 12:10pm Jan 30, 2011 12:10pm
Quoting GreatYves
Anthoniex! Your simply blowing my mind! I had to put my glasses on and study your chart.

Here's my humble usdchf charts.

Attachment Attachment
I'm just a unsophisticated newbie.
Thanks for the USDCHF charts, I'm glad I got more confirmation.
  • #3,911
  • Jan 30, 2011 12:15pm Jan 30, 2011 12:15pm
BTW! I just found that my beloved broker of choice Oanda but with such a bad trading java platform have finally recently included MT4 as beta. I am happily moving my a.. over there.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #3,912
  • Jan 30, 2011 12:43pm Jan 30, 2011 12:43pm
Quoting GreatYves
BTW! I just found that my beloved broker of choice Oanda but with such a bad trading java platform have finally recently included MT4 as beta. I am happily moving my a.. over there.
What a great news! I have been thinking of switching to OANDA because of their competitive spreads but their current platform is just really limited and annoying since I'm only used to MT4. Thanks GreatYves!
  • #3,913
  • Jan 30, 2011 12:54pm Jan 30, 2011 12:54pm
Quoting taq
Good morning...This time it feel like all the forkers are on the same side.
I have short positions in EU EJ GJ AU & long UCHF let us see how they will unfold.

Take care
TAQ
Nice charts anthoniex.
Your charts are refreshing & also nice work there in EU.Good to see all forkers on the same side.
Lots of activity on Friday in all the mkts fx ,index & commodities...was not able to update. I covered my AU & GJ shorts 220 & 250 pips.In NU got stopped out will initiate some shorts if PA support. Rest I am carrying.

Take care
  • #3,914
  • Jan 30, 2011 1:16pm Jan 30, 2011 1:16pm
just to be aware of the EU situation, an opinion...

http://www.forexfactory.com/showpost...ostcount=11027
  • #3,915
  • Jan 30, 2011 1:50pm Jan 30, 2011 1:50pm
Quoting anthoniex
just to be aware of the EU situation, an opinion...

http://www.forexfactory.com/showpost...ostcount=11027
As always i wouldn't be surprised of EU turning back upward. Presently on Oanda price traded new low as 3570 minutes ago. I prefer being deft to any news and just trade what i see. I follow the news but they are so unreliable. Only interest rates change i respect.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #3,916
  • Jan 30, 2011 5:03pm Jan 30, 2011 5:03pm
Anthoniex, would you mind explaining how you draw your 45 degree median line?
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #3,917
  • Jan 30, 2011 8:46pm Jan 30, 2011 8:46pm
Quoting kapital
Anthoniex, would you mind explaining how you draw your 45 degree median line?
I used Trendline by Angle tool in MT4 but I don't really use it anymore. The grid is easier, faster to draw.
  • #3,918
  • Jan 30, 2011 10:09pm Jan 30, 2011 10:09pm
Quoting anthoniex
I used Trendline by Angle tool in MT4 but I don't really use it anymore. The grid is easier, faster to draw.

Is the grid made up of intersecting AB and AC trendlines? If so, where do you place them?
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #3,919
  • Jan 30, 2011 10:18pm Jan 30, 2011 10:18pm
worth keeping an eye on
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  • #3,920
  • Jan 30, 2011 11:05pm Jan 30, 2011 11:05pm
any comments?
Attached Image (click to enlarge)
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