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Andrews Pitchfork (Median Line)

  • #5,601
  • Jul 3, 2013 1:30pm Jul 3, 2013 1:30pm
Quoting shiree
GBPUSD - ... failed forming a "Broken wings" .
Can you further elaborate on that pattern? I search a little but didn't find any straight-forward chart examples, so I'm unclear what defines that pattern.
  • #5,602
  • Jul 3, 2013 2:39pm Jul 3, 2013 2:39pm
Quoting Davit
{quote} Hi friend In my opinion simplicity is clarity.You have way too many forks. To me there is 1 dominate fork H4 Tim Morge's favorite and daily and if things are not clear then skip it. In your chart you have a down trend and obvious down fork however all your forks are going sideways which to me makes no sense unless we have a solid price behavior change. Tim explains here the best.Regards http://www.youtube.com/watch?v=E4yJd...layer_embedded
We forkers are all friends... and can learn from each other.

I know that chart has a ton of forks, but all the older forks are just illustrative of the concept. I could have split up the charts but it was easier to just use one.

One concept I illustrated is... how does one join an existing trend? It is said to wait for a pullback and join it in the main direction. But where? Drawing PF's just as I did is a common method, one that Tim also uses, and one that was previously discussed in this thread.

For the GU downtrend, almost always such pullback forks are upsloping. One draws pt1(A), a higher pt2(B), and then pt3(C) is drawn almost always lower than pt1. It's usually upsloping. It can only be downsloping only if pt3 is below pt1 by > the distance pt1-pt2. The only downsloping pullback example in my post is the orange fork (and it worked perfectly, but so did most of the others).

So while I agree the trend shown is down, and overall there is some downsloping PF that is likely active, it is still useful to use small upsloping pullback forks to look for places to enter short.


The 2nd concept I intended to illustrate is this: When you see there is, in this example, a downtrend in play, and you see recent pullbacks that held at the pullback fork(s) ML, then the bears haven't given up yet. They're likely going for a new lower target. So... I said I called a long at the arrow. Price *did* reach a point of a nice profitable trade, but not before it caused a little bit of pain in the red. While it *could* have been a bigger reversal, those last two small upsloping forks had perfect hits to the ML, and so it should have been a clue to me for caution with my long.

What did price do the last 12 hours or so? It broke below the triangle I last posted and made a new low. From there, it's obviously made a change of behavior, and gone up more than previous retracements.

Off hand, I don't see any PF targets that clearly held the low. From a loose Elliott-wave perspective, the last move down had the look of a 5-wave move (i ii iii iv v)

Price reached the quartiles for both the black and magenta(ModSchiff) forks.

The small blue fork also has good intra-fork resonance with the pivot at "ii", a reason for resistance at the blue pt3.

Those are just reasons for resistance near the recent high of 1.53039. It reached it with a strong energetic move up, so I don't know where it's going from here.
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  • #5,603
  • Jul 3, 2013 3:41pm Jul 3, 2013 3:41pm
This larger GU fork has excellent intra-fork resonance (blue circles) at the ML that could have given real-time evidence for a bounce at pt3. Only thing is, the pt1 is not the lowest low, and the pt2 is not the highest high either. Both use alternate pivots.
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  • #5,604
  • Jul 3, 2013 3:49pm Jul 3, 2013 3:49pm
GBPUSD 240
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  • #5,605
  • Edited 4:50pm Jul 3, 2013 4:30pm | Edited 4:50pm
Quoting cg uno
GBPUSD 240 {image}
Yeah*, cg_uno, that's a good fork. It happens to also resonate very well with what I call Thirdlines (a.k.a sextiles). You drew the Halflines (aka quartiles) which also resonate at a few places, but your tool only draws them forward of the pt2-pt3 (B-C) line. I extend them to the left.

Turns out the recent low bounced with ~3p overshoot of the AN-1.33 line. (1st Thirdline below LML).
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  • #5,606
  • Jul 3, 2013 5:12pm Jul 3, 2013 5:12pm
Quoting pips4life
{quote} Yeah*, cg_uno, that's a good fork. It happens to also resonate very well with what I call Thirdlines (a.k.a sextiles). You drew the Halflines (aka quartiles) which also resonate at a few places, but your tool only draws them forward of the pt2-pt3 (B-C) line. I extend them to the left. Turns out the recent low bounced with ~3p overshoot of the AN-1.33 line. (1st Thirdline below LML). {image}
Thanks - I can extend them back if I want but I try to keep things stripped down and simple - I prefer using sliding parallels rather than being too mechanistic with "sextiles" or whatever....
  • #5,607
  • Jul 3, 2013 5:15pm Jul 3, 2013 5:15pm
At the risk of overkill, here's one more GU,H1 chart, related to the low ~15 hours ago.

This black Andrews fork is typical, except the use of alt.p2 captures the entire upper width. It makes the rest of the intra-fork resonance near exact by doing so.

The halflines (aka quartiles) are drawn, with only a few of the points of resonance circled in gray.

The fourthlines (aka eightiles) are drawn also; resonance of interest is circled in pink. (Normally I don't bother with these lines, but they happen to work here).

A single sliding parallel is drawn. It happens to be at the AN+0.33 (1st Thirdline above ML). It also works for post-fork resonance. The rest of the Thirdlines would just add clutter to this already busy chart.

*EDIT: The point of this chart is that it's a good "hunt-for-C" (pt3) example. The resonance at pt3(C) is best where it actually bounced. Hence, it could have been a place to watch for a bounce, and obviously it did.
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  • #5,608
  • Jul 4, 2013 10:45am Jul 4, 2013 10:45am
Quoting pips4life
{quote} We forkers are all friends... and can learn from each other. I know that chart has a ton of forks, but all the older forks are just illustrative of the concept. I could have split up the charts but it was easier to just use one. One concept I illustrated is... how does one join an existing trend? It is said to wait for a pullback and join it in the main direction. But where? Drawing PF's just as I did is a common method, one that Tim also uses, and one that was previously discussed in this thread. For the GU downtrend, almost always such...
Thank you pips4life for taking your time to respond.Its obvious I have lot to catch up in my learning about forks.
In trading, you have to be defensive and aggressive at the same time
  • #5,609
  • Jul 4, 2013 10:47am Jul 4, 2013 10:47am
GU is touching median line.Its a waiting time for me to see the reaction at key RN number 1.50
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In trading, you have to be defensive and aggressive at the same time
  • #5,610
  • Jul 4, 2013 11:29am Jul 4, 2013 11:29am
Hii,
My first post here,
AUD nicely drifting down the Modified Schiff.. another opportunity seems emerging along the Sliding parallel.
Seniors views appreciated.

Regards
Santosh
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If it was easy, everyone would do it.
  • #5,611
  • Jul 4, 2013 3:13pm Jul 4, 2013 3:13pm
Quoting Davit
{quote} Hi Kapital It would be great if you post your orders otherwise there is no context about your charts "rumble" Where?

If I don't state a direction then it means I'm unclear about it or I don't care about it.

My style of trading these days rely mostly on temporary support & resistance as opposed to direction.
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #5,612
  • Edited 9:51am Jul 5, 2013 9:20am | Edited 9:51am
short UC 550, 6
We had no meaningful retrace since the UC broke 200 LTL
confluence of harmonics key extension 161.8
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In trading, you have to be defensive and aggressive at the same time
  • #5,613
  • Jul 12, 2013 12:29pm Jul 12, 2013 12:29pm
Quoting cg uno
And details of Ben's 600 point GBPAUD60 minute trade - entry posted on Wednesday http://www.screencast.com/t/phc4UQGc

Could you stop your solicitations of Coghlan Capital please?
You gonna post post your orders not from a website!
In trading, you have to be defensive and aggressive at the same time
  • #5,614
  • Jul 12, 2013 12:37pm Jul 12, 2013 12:37pm
suit yourself - i'll delete them and let you flounder along......
  • #5,615
  • Jul 12, 2013 12:46pm Jul 12, 2013 12:46pm
Quoting cg uno
suit yourself - i'll delete them and let you flounder along......

Lets see what you THINK and ORDER
In trading, you have to be defensive and aggressive at the same time
  • #5,616
  • Jul 12, 2013 1:01pm Jul 12, 2013 1:01pm
Quoting Davit
{quote} Lets see what you THINK and ORDER

What's the point?

As a favour, one of the best services out there lets me post a couple of forks for info - one showing 600 points since Wednesday and the other showing 250 points today - no thanks from anybody, just a complaint....

Forget it - I won't bother
  • #5,617
  • Jul 12, 2013 4:57pm Jul 12, 2013 4:57pm
Quoting Davit
{quote} Could you stop your solicitations of Coghlan Capital please? You gonna post post your orders not from a website!
The guy has no shame. I have already called him out few months ago. What I can't understand is why doesn't he go to the commercial section and peddle his regurgitation of the bearded wonders work.
  • #5,618
  • Jul 19, 2013 7:05am Jul 19, 2013 7:05am
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  • #5,619
  • Jul 20, 2013 4:27am Jul 20, 2013 4:27am
Hi Mates,
Greetings from me.Thanks for the running this kind thread.
I am about going to study this field. As a newbie I have faced problem drawing Andrew with mt4 built in tools, with Hori/vertical/angle line tools.
Can any one provide me a free trade line drawing tools that can draw just a small small trade line.....like Gemini chart 274 page post.
I use AML here some one provide for pitchfork and shape tools.

Regards.
  • #5,620
  • Jul 21, 2013 7:44am Jul 21, 2013 7:44am
Quoting Ariful Mamun
Hi Mates, Greetings from me.Thanks for the running this kind thread. I am about going to study this field. As a newbie I have faced problem drawing Andrew with mt4 built in tools, with Hori/vertical/angle line tools. Can any one provide me a free trade line drawing tools that can draw just a small small trade line.....like Gemini chart 274 page post. I use AML here some one provide for pitchfork and shape tools. Regards.

there is a nice andrews fork tool on mt4
right click on tool bar -customize-and you will see all the tools and click to move andrews to toolbar.
play with it few minutes and you will figure out how to use it.
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In trading, you have to be defensive and aggressive at the same time
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