The Logic Behind the Pitchfork | Forex Factory

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The Logic Behind the Pitchfork

  • #1
  • First Post: Jul 31, 2011 3:37am Jul 31, 2011 3:37am
Hi,

I am studying some materials about Dr. Andrew's Pitchfork. There are a lot of books and resources that describe how this method works but I have not yet seen a single source that says WHY it works.

I have read somewhere about relation between pitchfork and Newton's Law of Action and Reaction: "For any action force there is an equal and opposite reaction force" but honestly I cannot make a relation between these.

I don't believe that this is a result of self-fulfillment prophecy so could anyone explain this?
Attached Image (click to enlarge)
Click to Enlarge Name: pitchfork.jpg Size: 170 KB
  • #2
  • Jul 31, 2011 10:40am Jul 31, 2011 10:40am
Any help would be appreciated
  • #3
  • Jul 31, 2011 11:59am Jul 31, 2011 11:59am
Quoting mahdiquant
but I have not yet seen a single source that says WHY it works.
Probably because it doesn't work, it is only a random line on a chart.

Quoting mahdiquant
I have read somewhere about relation between pitchfork and Newton's Law of Action and Reaction: "For any action force there is an equal and opposite reaction force" but honestly I cannot make a relation between these.
We have a market because there's always an imbalance of buyers and sellers. The Newton's law finds relations between forces in equilibrium. According to Newton the market would be a straight line and according to the market we wouldn't have an universe.

I could say that e=mc2 means the price concentrates mass and then breaks in one direction as energy. It's BS in its purest form.
  • #4
  • Jul 31, 2011 12:44pm Jul 31, 2011 12:44pm
Quoting mahdiquant
Hi,

I am studying some materials about Dr. Andrew's Pitchfork. There are a lot of books and resources that describe how this method works but I have not yet seen a single source that says WHY it works.

I have read somewhere about relation between pitchfork and Newton's Law of Action and Reaction: "For any action force there is an equal and opposite reaction force" but honestly I cannot make a relation between these.

I don't believe that this is a result of self-fulfillment prophecy so could anyone explain this?
Others'd represent Dr. Andrew's work better;
however, my guess is that
"equal and opposite" would be 50% for each side ~ 50% Fibonacci (1,1,2,3,5 -- 1/2).

Another pitchfork -- or maybe only a channel -- on your chart, explained in detail:

Attached Image (click to enlarge)
Click to Enlarge Name: pitchfork mahdiquant -- modif.jpg Size: 256 KB
  • #5
  • Jul 31, 2011 1:07pm Jul 31, 2011 1:07pm
So what about Andrew's wealth which is told to be acquired using median line trading?
Also there are a couple of popular thread in FF about pitchfork method.
  • #6
  • Jul 31, 2011 1:23pm Jul 31, 2011 1:23pm
Pitchforks are a good idea.....but you would be better off drawing the lines by hand. You will get more out of it and better accuracy.
  • #7
  • Edited Aug 1, 2011 3:02am Jul 31, 2011 11:24pm | Edited Aug 1, 2011 3:02am
Quoting Troikaone1
Pitchforks are a good idea.....but you would be better off drawing the lines by hand. You will get more out of it and better accuracy.

Yes, but in fact pitchfork are some kind of trend-lines that are drawn using only one point. This makes trader able to gauge the overall direction of the price in future.

Seems that this can be a million dollar question
  • #8
  • Aug 1, 2011 5:09am Aug 1, 2011 5:09am
Hi guys,

sorry to interrupt, I couldn't help but notice... the forks that you guys have drawn are drawn incorrect.

From my understanding when I dabbled with pitchforks long ago;

To draw a pitchfork requires 3 points:
A, B and C

The most important part in drawing pitchforks is that:
In an uptrend pitchfork, C must be higher than point A
In a downtrend pitchfork, C must be lower than point A

What you guys have drawn were:
Uptrend pitchfork and point C was lower than point A

Attached Image (click to enlarge)
Click to Enlarge Name: pitchforks.png Size: 39 KB


I don't use pitchforks, I did study them... my findings is that they are the cousins of 123 or ABC formations... except they have lines and channels.

  • #9
  • Aug 1, 2011 5:34am Aug 1, 2011 5:34am
Quoting CrucialPoint
Hi guys,

I don't use pitchforks, I did study them... my findings is that they are the cousins of 123 or ABC formations... except they have lines and channels.

[/center]
That's right. They are very similar, But I think pitchforks are much more general and informative.
By using pitchforks you have much more information and insight that finding a 123 pattern on the chart.
  • #10
  • Aug 1, 2011 6:24am Aug 1, 2011 6:24am
Quoting mahdiquant
I have read somewhere about relation between pitchfork and Newton's Law of Action and Reaction: "For any action force there is an equal and opposite reaction force" but honestly I cannot make a relation between these.
I hope this will help.

Attached Image (click to enlarge)
Click to Enlarge Name: pitchforks2.png Size: 84 KB


This theory is the old Newtonian Physics. Humanity have discovered quantum physics. That's why anyone who have read my post would have read what I mention about 6Dimension charting. We live in a Quantum physics world. Newtonian physics are rigid... Thoughts, emotions & behaviors resides in quantum physics.

If you break down trading, it is simply supply/demand or mass behavior... But... there is a force which animates price movements beyond supply/demand or mass behavior.

  • #11
  • Aug 1, 2011 6:26am Aug 1, 2011 6:26am
Quoting mahdiquant
That's right. They are very similar, But I think pitchforks are much more general and informative.
By using pitchforks you have much more information and insight that finding a 123 pattern on the chart.
That's true.... that's why they created it.
  • #12
  • Aug 1, 2011 6:42am Aug 1, 2011 6:42am
Quoting CrucialPoint
If you break down trading, it is simply supply/demand or mass behavior... But... there is a force which animates price movements beyond supply/demand or mass behavior.
[/left]
[/center]
CrucialPoint! Thanks for your answer. I have to spend some hours reading and thinking about your diagram.

By this force, do you mean momentum of the market?
  • #13
  • Aug 1, 2011 6:50am Aug 1, 2011 6:50am
Quoting mahdiquant
CrucialPoint! Thanks for your answer. I have to spend some hours reading and thinking about your diagram.

By this force, do you mean momentum of the market?
The pitchfork diagram I mentioned "Force" I was referring to Newton's law: momentum, force, inertia etc... Yes, it is the momentum of the market.

=========================================================

In quantum physics there is a "force" that governs and animates every vibrations in this universe.... a force (energy) that governs and animates every atom. And this force which also animates and governs price movements. (this section has nothing to do with pitchforks)
  • #14
  • Aug 1, 2011 7:10am Aug 1, 2011 7:10am
Research sine waves.
  • #15
  • Aug 1, 2011 7:16am Aug 1, 2011 7:16am
ffs.

so basically no one has a chance in hell of sustainable profits unless they smoke some weed while talking with hawking?
Congratulations ScalaFX for coming out of the closet!
  • #16
  • Aug 1, 2011 7:22am Aug 1, 2011 7:22am
Quoting nubcake
ffs.

so basically no one has a chance in hell of sustainable profits unless they smoke some weed while talking with hawking?


Well, you don't have to know how the combustion engine works to drive a car

I speak of such because I know someone out there are also on the verge and needs a little push
  • #17
  • Aug 1, 2011 7:32am Aug 1, 2011 7:32am
Quoting CrucialPoint


Well, you don't have to know how the combustion engine works to drive a car

I speak of such because I know someone out there are also on the verge and needs a little push
is being able to ride a push bike sufficient???

(insert smiley smoking a shotgun blast)
Congratulations ScalaFX for coming out of the closet!
  • #18
  • Aug 1, 2011 7:35am Aug 1, 2011 7:35am
Quoting wallet
Research sine waves.
Do you mean Market Cycles theory?
  • #19
  • Aug 1, 2011 7:40am Aug 1, 2011 7:40am
Quoting nubcake
is being able to ride a push bike sufficient???

(insert smiley smoking a shotgun blast)
A small income is still an income right?

I mean, if you can pull an extra $2000-$4000 a year is better than nothing right? Of course, you will have to personally decide if it is worth your time and energy.

Yes, being able to ride a push bike is sufficient enough.
  • #20
  • Aug 1, 2011 7:44am Aug 1, 2011 7:44am
Quoting CrucialPoint
A small income is still an income right?

I mean, if you can pull an extra $2000-$4000 a year is better than nothing right? Of course, you will have to personally decide if it is worth your time and energy.
HELL NO !!!

plus, that's not what i was referring to. anyways, i'm just talking shit like usual so i'll stop now.
Congratulations ScalaFX for coming out of the closet!
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