Andrews Pitchfork (Median Line)

Hey guys.I've been dealing with forks for a quite some time.Here is my chart of usdjpy.

Ok! I trade 4 hr charts. I am still short 1 lot on eurusd from 3799. I lower my stop loss at 3660 but i wonder how would you guys would manage this trade? Where go your TP. SL? Why?

EU daily bang on tgt. But I didn't have the guts to follow my chart rather I listen to other traders & first time I lost both money & opportunity.

http://www.forexfactory.com/showpost...postcount=3832

I will take some time off from public forums.
Take care guys


Regards,
TAQ

I'm looking for NFP to provide the momentum to take price to at least one of these three levels. Two would be even better.

What is the method being used in gkiberd's charts?

Hey Taq,

I know how that goes, where just reading or hearing contrary opinions can plant seeds of doubt. That is one of the drawbacks to public forums, especially when the criteria for whether to take a trade involves subjective judgement or not.

But on the flip side, in a forum, you sometimes pick up some feedback or tips that could potentially be helpful.

Maybe you spotted this already, but as I looked at your EU Daily PF, I tried to duplicate it. I can see that your pitchfork pt "1" (some say "P0") is not the major swing point of 2009.11.25, but rather an intermediate swing point of either 03.17 or 04.12. But did you know that the fork that you drew as an Andrews from the minor swing is in fact almost the same at a Catalin fork from the mentioned major swing?! (Catalin fork = the time of pt 1, the price of pt 3 for a fork with points 1,2,3). I would say that your fork, that is slightly shifted from the PR3 fork, is (on THIS feed) a somewhat better of a match for the most recent high (which may turn out to be a major reversal???), but not quite so good for several previous intermediate touches of the midline. They're very close, but both appear to be good forks.

To me, I prefer PF's drawn from major swing pivots, but seeing that the intermediate pivots might be there BECAUSE of resonance with derived forks like the Catalin fork have opened my eyes to look for these. So thanks for that, and if you do drop out of the forum for awhile, then thanks for your insights and charts.

Kent

Price reached the reaction line from my earlier chart. I later discovered that there was a larger action-reaction set (yellow) in play.

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Taq! Your a major player in this small Forker community! And i hate to see you go! I don't know your reasons else you missed a trend change on euro. This is really no big deal as there will alway be new opportunity showing up and you know! Take some time to digest your emotions and know that we'll be very glad to read you again whenever you feel it's time.

I often consider stopping participating in forums but i came to conclusion that we do develop some fraternity between each other once we read on each other day after day. Personally i narrow down the threads i follow to this one only. Sometime i go peak on others but not much participation.

Even me i wonder sometimes if people appreciate my post and if i should keep posting, you were one of the rare that directly comment my post!

x

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Thank you for taking the time to show more charts gkiberd. I truly appreciate it. However, I still am at a loss as to what your method is. Can you just explain it in just words? What's the .886 gap on 5? Giving just a written explanation will possibly help me to understand the charts.

Again, thank you for your posts.

Guys there is no point of showing already played charts.Please show more of how do u use forks with money management and where do u place the trade.

I have basically the same question as kapital. I am going though the charts again and again - but my experiment to see the 88.6 as retrace fails - or I am making stupid mistakes when drawing the 0 - 100% swing.

I have great admiration for those charts, this combines forks with momentum trading, with tight risk management.

A big thank you from me, gkiberd !

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( Edit : taq please don`t stay away too long, I love your charts and I would vouch for you if I could. )



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michael

GreatY

How do you incorporate the fibs into your fork trading?

The fib retracement, the fib channel or the fib Timezone?

Mr Kiberd is showing a setup that he has discovered! He is saying that computer algorithms are using ETF's to signal moves in underlying assets. These algorithms signal these moves through special setups. One being the .886 on the gap. I have attached an example.

On a day that opens up on a gap on any of the ETF's that represent an index/currency/asset(SPY, GLD, USO, FXE etc.) look for the etf to retrace 88.6% of a move from a swing high/low. Find frequency from a median line and you have yourself a repeatable workable setup. Work still needs to be done, but it is there and the funny thing is most people will still overlook it!

This is one example, there are many more that resulted in much bigger moves...this is the first one that I saw!

Ok! I'll try to make a quick resume as to how i use Fibonaccis, you will see by yourself how it can be use with any other method. First I must give credit to Bobokus who had a popular thread right here on FF untill he went commercial and with whom i learned the fine art of fibonacci trading.

I'll spare you the whole chapter about what's fibonacci an how everything in nature is related to it as you may find in about half the trading book on the market.

There is many fibonacci level but the major level are 0% 38.2% 50% 61.8% and 100%. The basic idea is say you have a swing high (I'll show you a swing low example but it's the same) Price will usually retrace. Buyers will often wait that price retrace to either 38.2 50 or 61.8 depending on there risk appetite, before buying back. If they fail sellers are in control and will also try to sell from any of these 3 same level. So basically you can view price over 38.2 retracement as being bullish. and under 61.8 retracement as being bearish.

What's cool with the fibs is that often when the bear or bull win the fight the resulting will be that the price will extend to 161.8 in the case of a 38.2 retracement or to 138.2 in the case of a 61.8 retracement or AB=CD. Here let me show you a fine example where price respect the fibs level to the pip and then make an extension to 161.8.



Of course this doesn't always work but it's the very basic of what i have learned about fibs. You can view fibs as Support and Resistance. Some people will not trade when price is laying in between the 38.2 to 61.8 zone cause the price is then in an indecision zone.

The .886 gap on 5 is that often during a wave 5 price will overshoot and make a gap.then make a new low and then retrace again .886, he claim computers wil then kick in and trade this setup.

This setup is strictly on the etf's...Gkiberd has been around before I knew what trading was and he has been talking about this setup for just as long...Also it works but it is alway on the etf's! SPY, GLD, USO etc. and always on the intraday tf

A very humble question to Mr Gkiberd,
What possible advantage is there in having six or seven oscillators. Surely, they are mathematical derivatives of price and almost all serve the same purpose. Why not just 1 or if they are different then which one do you take as the one which is more useful and why not just follow "that" particular one.
Thanks and no offence is intended.