Andrews Pitchfork (Median Line)

good example of action /reaction.perhaps after touch cl and bounce

selling silver @ 39.05


thanks

39.30 is good for me

watching the EUR/CAD, fork seems to be quite valid

hello forkers;
price has been respecting t-pitchfork lower line.below 1598xx might trigger trip to south

been wathing the AUD/CHF, a test and re-test would be nice on the lower parallel

First Post: Trying to help when I am able. AUD/USD, long 1.06118. No Demo. Initial cash stop was 20 pips below the low of 1.05594. Stop profit moved to 1.07744 20 pips below the swing low and Multiple pivot line created by the top of range. + 163 pips locked in (peaked at + 352 so far) . I would expect a reaction at the confluence of a new high and the 50% expansion of the “D leg” in and around 1.10438.
Be patient and keep it simple, Peace.

EUR/USD long at 1.41263 initial stop 1.4087. Stop profit moved to 1.4313 + 187 pips locked in (peaked at + 395 so far). Price never hit down sloping (Red), let’s see what price does at the upper parallel.

GBP/USD long at 1.61544 initial stop at 20 pips below swing low created at 1.61200. Stop profit moved to 1.6241 + 87 pips locked in (peaked at + 265 so far). Pay attention to the down sloping fork and 50% extension of the “D leg” and median line of up fork. I usually show the 4 hour but the Daily shows a better view.

Took a long position in EU. Might take long in GU on the lower MHL.

nice weekend to everybody

EUR/USD Stop profit out 1.43129 + 186 Pips. I was stubborn to let price hit a peak of + 408 Pips. The new “Width” median line would have told me to take all profits off. (Always the student in this game) After I got stopped out I replaced to fork to reflect the width with some nice frequency .

decision point.up or down please

http://www.screencast.com/t/TIUjBvBIECw

60 min kiwi showing good UP action...

beeb

Question: Is it possible to predict (with high probability) pivot C of a pitchfork using the positions of pivots A and B?

IMHO the simple answer is "No"....

You can attempt to do so by drawing forks and looking for harmony along possible quartiles and median lines but there is no guarantee of getting it right. You could in those circumstances perhaps look at it as an educated guess coupled with action/reaction lines. Perhaps look to different timescales to give you an idea of where you might expect a C....

Again IMHO forks are more of a tool for finding rhythm along a trend once it establishes rather than for picking a one off high or low (if that is what you are trying to do)

Hope that helps..

beeb

edit - if anyone knows a way I'd be very interested.....

http://gannmasterforex.blogspot.com/

You could use fibs. Not a prediction but a good probability.
A set at 100%. B set at 0%. C could be set at the 61.8% or at the 76.4% retracement.

In this 5m chart 76.4% was the higher low, pivot C. Later the -61.8% was hit as well as the -161.8%, both inside the pitchfork.

To pick an exact pivot position for "C" requires a timing element, which is possible specially in the context of particular patterns, remember that your current forming pivot "C" is a byproduct of "A", "B" and "A's" preceding pivot "X". We often times try to pick a targets via forks, trendline intersections and such ( name your poision), why are we so hesitant to reverse at these moments?

Easier to do is find a repeating angle to find a possible turn much like Action/reaction lines where you're measuring equal distance from a broken but established channel.

Remember, that all pivots are valid only after they are tested, hence Morge's test and retest entry prerequisites. Finding turning points for a quick bump is easy, if those hold is another story. So trying to enter such types of trades is a black and white issue, tight stops and your either right or quickly wrong and exited. Generally these are small sized take half quickly when in profit and move stops to BE, then let price do what it will.. maybe it develops into a larger tradeable entry with some of your position capturing the near or exact turn. Worse case scenario should be breakeven or a very small loss. Marrying a directional bias is a no-no, either your TA is pinpoint or your out.

fwiw.

In my opinion, I think Beeb's answer is correct. However, I have seen that at times you might be able to predict with greater probability (as you asked) certain points. Again, only after there is validation and confirmation can you say whether you have attained the correct C point. This prediction occurs at times when there are other indications (a strong multi-pivot line, an action/re-action line) all lining up at that point that might idicate (indepently) that price might turn there. I have seen Tim Morge use this at times. It is definitely more risky and aggressive, but perhaps there are times that it might be appropriate.

Just my two-cents worth.