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Andrews Pitchfork (Median Line)

  • #4,881
  • Jan 19, 2012 5:28pm Jan 19, 2012 5:28pm
GU short @ 5487
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  • #4,882
  • Edited 5:52pm Jan 19, 2012 5:39pm | Edited 5:52pm
Short EURUSD 1.29687. (+5.2 this second). Picking a top can be dangerous, but this ModSchiff quartile-below-LML is showing Resistance, and coincides with a Fibo target I have.

Anyone see other evidence of USD starting to turn up (so EURUSD will be down)?


We'll see...

P.S. The same target on my Daily would be ~6 pips higher that current peak at 1.29780. My stop will be just above that.
Still no lower-lows yet but +8 is good progress.
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Click to Enlarge Name: 2012-01-19 EU H4 MS quartile Res.jpg Size: 528 KB
  • #4,883
  • Jan 19, 2012 7:56pm Jan 19, 2012 7:56pm
Have been waiting for a turn in gold and this short term fork looks
like it might have some promise.
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  • #4,884
  • Jan 19, 2012 9:09pm Jan 19, 2012 9:09pm
Quoting pips4life
Short EURUSD 1.29687.

Anyone see other evidence of USD starting to turn up (so EURUSD will be down)?
I just took a look at my chart and this looks pretty nice...
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  • #4,885
  • Jan 19, 2012 9:30pm Jan 19, 2012 9:30pm
The 3 white soldiers are considered a bullish formation.
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  • #4,886
  • Jan 19, 2012 9:46pm Jan 19, 2012 9:46pm
it does look very bullish, especially with those 3 drives into the LML...

a little jiggy with swissy...kiwi doesn't look too bad.

This three waves up is clear, until we pullback again and go higher I'm still looking to sell.
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Click to Enlarge Name: Kiwi 60m.jpg Size: 132 KB
  • #4,887
  • Jan 19, 2012 10:03pm Jan 19, 2012 10:03pm
Quoting pips4life
Short EURUSD 1.29687.
...
P.S. The same target on my Daily would be ~6 pips higher that current peak at 1.29780. My stop will be just above that.
Still no lower-lows yet but +8 is good progress.
Without a definitive downside move, it's looking more like a tight bull flag. Given the double bottom, I bailed a while ago with a few pips. I might reload if it gets closer to my target again, or let it pass.

At least it did prove to be a point of reaction... a delay at least if not a reversal.
  • #4,888
  • Jan 21, 2012 5:07am Jan 21, 2012 5:07am
thanks in advance...your thoughts on these lines and where we might be going from here.
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  • #4,889
  • Jan 21, 2012 12:43pm Jan 21, 2012 12:43pm
Quoting bayfisherman
thanks in advance...your thoughts on these lines and where we might be going from here.
3 drives to the top/bottom means we should be looking for a breakout of the range soon.
  • #4,890
  • Jan 21, 2012 1:36pm Jan 21, 2012 1:36pm
played around with some higher time frame charts and more data and came up with this fork...looks like median line support is the launching point.
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  • #4,891
  • Jan 21, 2012 11:59pm Jan 21, 2012 11:59pm
Can anyone give me opinion on these few pitchfork I drew?

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Click to Enlarge Name: EURUSD_210112_DAILY_APF.JPG Size: 141 KB


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Click to Enlarge Name: EURUSD_210112_H4_APF.JPG Size: 151 KB


Based on the daily pitchfork, 1.2980 caps the move up for EURUSD and it's also where the fib 62 is hence we'll probably not see this tested any time soon unless fundies change

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_210112_H1_APF.JPG Size: 149 KB


Then looking at the entire week's rally on H1, seems like the pitchfork has been broken by the daily pitchfork and if we assume that price has reversed since then, we'll be looking at a downward move on the M15 with 1.2950 still on the cards

Attached Image (click to enlarge)
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  • #4,892
  • Jan 22, 2012 1:05am Jan 22, 2012 1:05am
Quoting jayjb
Can anyone give me opinion on these few pitchfork I drew?

Attachment

Attachment

Based on the daily pitchfork, 1.2980 caps the move up for EURUSD and it's also where the fib 62 is hence we'll probably not see this tested any time soon unless fundies change

Attachment

Then looking at the entire week's rally on H1, seems like the pitchfork has been broken by the daily pitchfork and if we assume that price has reversed since then, we'll be looking at a downward move on the M15 with 1.2950 still on the cards

Attachment ...
Hi I use longer time frame charts to identify potential sup/and res and then look for triggers in lower TF for triggers.. You should concentrate on the 1st rule that price will make it to the latest median line. Watch how price reacts etc.
I know many think what good is it to know price will reach the centerline of the fork after the fact but you have to start there.. All Good trading wishes
Curt
  • #4,893
  • Jan 22, 2012 1:12am Jan 22, 2012 1:12am
Quoting AlexC
The 3 white soldiers are considered a bullish formation.
Hi Pips
White Soldiers /Crows are rare and require the second candle to open within the body of the next etc. So they are not textbook . Bulkowski (sp) ran statistics on them and contextualized his thought process that can be googled.
Nothing I say should be interpreted as mean spirited . Good trading
Curt
  • #4,894
  • Jan 22, 2012 1:13am Jan 22, 2012 1:13am
Quoting bayfisherman
played around with some higher time frame charts and more data and came up with this fork...looks like median line support is the launching point.
Now chart the euro and see if the same lines appear only inverted.
  • #4,895
  • Edited 10:37am Jan 22, 2012 10:12am | Edited 10:37am
Quoting jayjb
Can anyone give me opinion on these few pitchfork I drew?

Attachment

Attachment

Based on the daily pitchfork, 1.2980 caps the move up for EURUSD and it's also where the fib 62 is hence we'll probably not see this tested any time soon unless fundies change

Attachment

Then looking at the entire week's rally on H1, seems like the pitchfork has been broken by the daily pitchfork and if we assume that price has reversed since then, we'll be looking at a downward move on the M15 with 1.2950 still on the...
It's interesting how you are pulling those A points off the low of the candle on your Daily and your 15 min charts...looks like it's catching some nice frequency...will have to take a look at that. It looks like on the 15 it's a low, low, high progression for your pivots, but hey if the slope is working more power to you...

Here's some daily charts I've been messing around with...EU and 6E pretty close. I like the touch better on the 6E at the top. My library of others and futures, if you want to look around in there you can toggle around at the bottom to the other charts.

Forex: EU, GU, AU, CAD, CHF, NZD

http://www.screencast.com/t/iYpYqr6gW

Futures: 6E, CL, NQ, TF, GC

http://www.screencast.com/t/rqKDdd1gko
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU Daily.jpg Size: 118 KB
Click to Enlarge Name: 6E Daily.jpg Size: 153 KB
  • #4,896
  • Jan 22, 2012 12:21pm Jan 22, 2012 12:21pm
Hello all


Update January 22-2012

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I HOPE I CAN KEEP THIS WEBINAR IN ONE OR TWO WEEKS BUT THAT DEPENDS ON RESPONSES WHAT I WILL HAVE

Questions please use the google form.

Thanks
justcatalin
  • #4,897
  • Jan 22, 2012 3:09pm Jan 22, 2012 3:09pm
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  • #4,898
  • Jan 24, 2012 6:37am Jan 24, 2012 6:37am
short @ 1.3036
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Click to Enlarge Name: EU 60m.jpg Size: 129 KB
  • #4,899
  • Jan 25, 2012 10:03pm Jan 25, 2012 10:03pm
Quoting placetotrade
Hi Pips
White Soldiers /Crows are rare and require the second candle to open within the body of the next etc. So they are not textbook . Bulkowski (sp) ran statistics on them and contextualized his thought process that can be googled.
Nothing I say should be interpreted as mean spirited . Good trading
Curt
Didn't interpreted your comment as mean spirited but as evaluation of the pattern and the way I see it we're here to help one another.
The second candle of the three opened within a pip of the first.
Market maker didn't want to make it too easy to identify.
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  • #4,900
  • Jan 26, 2012 10:20am Jan 26, 2012 10:20am
UJ 8 hrs
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