Andrews Pitchfork (Median Line)

You can't make this stuff up......!!!!!!......

Aust dollar 5 min.


http://screencast.com/t/tyuil0Rx8d8f

Nice chart. Here is my version.

It appears pitchforks are really in season at year's end.

Good stuff. Thanks for sharing. Looking forward to few more

demand zone,out of bands and lower ML.we can expect jump

Similar question, but Im thinking more of a pause before the inevitable

GBP/USD uhmmm!

i am new here and new also for this method. this is what i c ....

what is bearish shark pattern?

It's relatively new, having been discovered by Scott Carney in 2011.
This is what the Shark looks like.

In essence the Shark is an emerging 5-0 pattern that you trade from C to target D. (target D is not shown in the diagram above - it's at the confluence of AB=CD and 50% Fibonacci on the BC leg).

Following that trade, you then have an interesting sequence of possibilities for further trades.

Apart from being a tradeable pattern in its own right, the Shark can also lead onto 3 other subsequent patterns, which you have the possibility to trade one after the other.

Firstly, The Shark leads onto the 5-0 pattern. Here is the 5-0 pattern. You can see how the Shark relates to it. (Note that not all 5-0 patterns are preceded by a Shark though)

The first target of the Shark is the D of a 5-0 pattern. And now with the 5-0 you have the possibility to enter a trade from the D in the opposite direction of your previous Shark trade.

Next, notice that the BCD of a 5-0 pattern often turns out to be the XAB of an emerging Bat or a Crab pattern (with B at 50% XA, it could turn out to be either a Bat or Crab).

So now we watch for the emerging Bat or Crab and if a C point is made - if so, then we have the possibility to enter a BAMM trade (trade from price at the B level to target the D of the emerging pattern). But we only enter the BAMM trade if it is in the direction of the prevailing overall trend. Do not trade a BAMM in the counter-trend direction.

Finally - whether or not the BAMM trade was taken, we now have the possibility to enter a new trade with the Bat or Crab pattern - if it has formed.

That's 4 possible trades all starting with the Shark

Support or not support...that is the question.

thanks iqyu5an.carney has been inventing new patterns

Looks like the energy point was worth its salt.

(Updated image)

Price has made its way back to the reaction line. What kind of reaction will there be this time around?

Here's the answer:

i am learning pitchfork and i want to ask u whether this is correct???


pls answer it.

thnk u

Correct?
You want a pitchfork that resonates, where the price respects the median lines at multiple points. The more data you use the more proof you have that it is respected. When less data is used, you then are projecting a potential scenario that might happen so it would have to be tested in time.
Your using only 10 1hr candles to make your fork. You could use 120 5m candles or bars or maybe 600 1m candles or bars to draw the same thing but you would have proven to yourself how good the pitchfork would have been by the multiple hits your median lines received. Trial and error till your satisfied.

Hi Cepot,

Good to have you here.
Very hi-tech chart...

ant-

i am just waiting to see whether price reaches the median line..... usually i enter trades either buy/sell and put my TP on the median line ...and it is quite profitable...i just wanted to make sure that my pitchforks are correct....

so theoretically it is correct right ?????

and one more question....what are the purpose of warning lines???? and can someone direct me to a strategy based on action reaction lines??

waiting for ur reply.........

and one more question....what are the purpose of warning lines????
waiting for ur reply.........[/quote]

The easiest way to explain a warning line is to simply stack median lines (pitchforks) on top of each other. The center of the fork is the median line and the outer 2 are called median line parallels. If you parallel them outward equal distances they form warning lines . I've seen work of Dr. Andrews stacking several.