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Andrews Pitchfork (Median Line)

  • #5,701
  • Aug 30, 2013 7:52am Aug 30, 2013 7:52am
Quoting eaglestar
{quote} It looks pretty to me. Thank you for your input. Tell me where did you take trades on the orange fork. Thank you.
i tend not to trade the majors - i find them over-analysed and i get more bang for my buck in the minor crosses, so i don't think i traded it at all - but there are obvious places which i'm sure you can see.....
  • #5,702
  • Aug 30, 2013 8:56am Aug 30, 2013 8:56am
Quoting cg uno
{quote} i know about schiffs but i don't know where your A is ...... a schiff moves the origin 50% of the vertical difference between the A and the B = not the case here a modified schiff does the same plus moves the horizontal 50% of the way too = also not the case here unless your A is not shown

My chart - same as previous and picture from marketgeometry


be good
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAU USD m20.png Size: 82 KB
Click to Enlarge Name: marketgeometry.png Size: 225 KB
  • #5,703
  • Aug 30, 2013 11:39am Aug 30, 2013 11:39am
now it's clear - your previous chart did not have a green dot and with a tail extending beyond the ms position it would be impossible to tell that it was properly mod schiffed....

thanks
  • #5,704
  • Aug 30, 2013 12:04pm Aug 30, 2013 12:04pm
Quoting cg uno
now it's clear - your previous chart did not have a green dot and with a tail extending beyond the ms position it would be impossible to tell that it was properly mod schiffed.... thanks
You are welcome.....

I discovered this when I was studying about Kenchow, I got sharpen eye.

nice weekend
Attached Image (click to enlarge)
Click to Enlarge Name: xau u m20.png Size: 83 KB
  • #5,705
  • Aug 30, 2013 2:34pm Aug 30, 2013 2:34pm
Quoting cg uno
{quote} you might want to expand the chart a bit and look at a mod schiff from the feb low and contrast that with the same from the may high look at the video i posted above in message 5676 at the 11 min 30 sec mark
Thanks for the idea of expanding. I see you are doing that (advising and your own charts). You give havier weight on longer term then shorter term 'trend'?
I started watching the video but it was too much of a waterfall for me. I will try again this sunday.
Posting Demo charts, mirroring some of them live.
  • #5,706
  • Aug 30, 2013 3:52pm Aug 30, 2013 3:52pm
Quoting forexpiet
{quote} Thanks for the idea of expanding. I see you are doing that (advising and your own charts). You give havier weight on longer term then shorter term 'trend'? I started watching the video but it was too much of a waterfall for me. I will try again this sunday.

you're welcome - it's all a question of perspective for me eg i find that i tend to use a daily chart to look at several years, a 240 min to look at several months, a 60 min to look at several weeks etc. you can narrow it in with 20 min, 5 min or tick charts if you want to or need to. the style i have developed means i just prefer the bigger picture and to use sliding parallels in wider forks....

stick with the video if you can - it is pretty intensive but as a newcomer to forks you may find it quite eye-opening ......
  • #5,707
  • Aug 30, 2013 9:02pm Aug 30, 2013 9:02pm
Simply, a modified Schiff is just a channel with a mid or 50%. You don't need to measure anything..... just copy the line AC to B. Most charting packages have a channel tool, if your charts allow, add a 50% line, every time you draw a fork, add the channel/modified schiff to the background. IMHO, they're just as important as the normal median set.

fwiw
  • #5,708
  • Aug 31, 2013 3:52am Aug 31, 2013 3:52am
Hello fellow traders,

I came across to median line trading trough the Andrew Maguire gold and silver trading service via coghlancapital. Would love to subscripe the service but 500 bucks per mounth is just too hefty for me. Just wondering is there a group of traders out there who are sharing the signals and accordingly the costs.

For me it seems not a problem to share the signals via trade copier scripts or EAs. I am, for example, are able to follow the signals all the day long and can trade multiple (MT4) accounts.

My best wishes to all

Steve
  • #5,709
  • Aug 31, 2013 12:33pm Aug 31, 2013 12:33pm
Quoting stevehooks
Hello fellow traders, I came across to median line trading trough the Andrew Maguire gold and silver trading service via coghlancapital. Would love to subscripe the service but 500 bucks per mounth is just too hefty for me. Just wondering is there a group of traders out there who are sharing the signals and accordingly the costs. For me it seems not a problem to share the signals via trade copier scripts or EAs. I am, for example, are able to follow the signals all the day long and can trade multiple (MT4) accounts. My best wishes to all Steve

STEVE I am also a Median LIne Trader.. and pretty good at it... We should start our own free group or chat ... Me, you, some other good median line traders on here.. Don't pay $500... I think if we create a tight knit community we can all benefit each other.
  • #5,710
  • Aug 31, 2013 12:36pm Aug 31, 2013 12:36pm
Quoting pipgame
{quote} You are welcome..... I discovered this when I was studying about Kenchow, I got sharpen eye. nice weekend {image}
PipGame I also studied Kenchow, and use Median Lines, and a few other things. Its' good stuff man
  • #5,711
  • Aug 31, 2013 12:56pm Aug 31, 2013 12:56pm
Quoting Pooks
{quote} STEVE I am also a Median LIne Trader.. and pretty good at it... We should start our own free group or chat ... Me, you, some other good median line traders on here.. Don't pay $500... I think if we create a tight knit community we can all benefit each other.
Thanks for reply Pooks, ..... just lets do it. I am ready to learn more. My nickname for skype is the same like in FF.
  • #5,712
  • Sep 1, 2013 8:08am Sep 1, 2013 8:08am
Quoting cg uno
{quote} i tend not to trade the majors - i find them over-analysed and i get more bang for my buck in the minor crosses, so i don't think i traded it at all - but there are obvious places which i'm sure you can see.....

I prefer minor crosses myself but key factor to be profitable on crosses is what happens with connected majors.
Its in a way still trading the majors....for example if one shorts GA GU must go down and AU must go up.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #5,713
  • Sep 1, 2013 8:26am Sep 1, 2013 8:26am
Quoting Davit
{quote} I prefer minor crosses myself but key factor to be profitable on crosses is what happens with connected majors. Its in a way still trading the majors....for example if one shorts GA GU must go down and AU must go up. Regards
interesting - so do you eg trade euraud dependant on what you think the aud or eur is going to do? i trade the chart that is in front of me ie the euraud - maybe having glanced at the eur and aud .......
  • #5,714
  • Sep 1, 2013 9:07am Sep 1, 2013 9:07am
Quoting cg uno
{quote} interesting - so do you eg trade euraud dependant on what you think the aud or eur is going to do? i trade the chart that is in front of me ie the euraud - maybe having glanced at the eur and aud .......

absolutely.EG movements are directly relates how EU and GU doing.If USD is gaining on Euro expect Cable to gain strength on Euro as well.
I am going to post something from my friend HDA

HERE WE GO:

To trade crosses, you have to only focus on both MAJORS of the crosses - we know that.

For example - GBP/CAD is a cross - so we have to watch GBP/USD (major) and we have to watch USD/CAD (major).

The base currency for the GBP/CAD is the CAD - so with that in mind - the base currency has a significant effect on the GBP/CAD pair.

KEY THING TO NOTE:

If the (major) USD/CAD, with the CAD being the base currency for the GBP/CAD, we have to pay close attention to the (major) (USD/CAD) as it significantly will affect the GBP/CAD because the CAD is the base currency for the GBP/CAD pair.

With the basics out of the way - here is what I use to help my analysis, keeping it simple and stress free.

The analysis must heavily be focused on the Majors and not the crosses.

By that I mean:

Where is the GBP/USD in terms of the Supply or Demand or Neutral Zone?
Where is the USD/CAD in terms of the Supply or Demand or Neutral Zone?

This is the key to trading the crosses profitably:
Wait until Both Majors are at the same zone and then you buy or sell the cross.

Therefore: Since both GBP/USD and USD/CAD are not at the same zone be it supply or demand at the start of this trading week - you would not place a trade on the crosses until they are both lined up.

What I am telling you now is priceless:

The GBP is at the SUPPLY ZONE and the USD/CAD is about to enter the SUPPLY ZONE - a shorting opportunity on the GBP/CAD is about to present itself because they are both at the SUPPLY ZONE.

But we need an entry for the cross - how do we find that entry?


The (majors) GBP/USD and USD/CAD will tell us.

Remember -
The CAD is the base currency for the GBP/CAD, so your focus now only needs to be on the USD/CAD.

Sellers are comfortably lined up at 1.0550 between 1.0590 (SUPPLY) on the USD/CAD.

Now for every 50 pip move on the USD/CAD - the crosses move 100pips

So the USD/CAD currently trading at 1.0510 now has 40pips to go to get to 1.0550 where sellers are camped out which would be an 80 pip move on the GBP/CAD up from its current price 1.6395 as of typing this at 7:40pm Eastern, Thursday, August 22, 2013.


So lets focus on entry.

If the sellers are camped out at 1.0550 to 1.0590 on the USD/CAD we should look for a short entry on the GBP/CAD between:

USD/CAD Sellers 1.0550 - 1.0510 Current Market Price = 40pips distance x 2 = 80pip entry price GBP/CAD
USD/CAD Sellers 1.0585 - 1.0510 Current Market Price = 75pips distance x 2 = 150pip entry price GBP/CAD

Therefore one could look to short the GBP/CAD between 1.6475 and 1.6545

GBP/CAD Current Price 1.6395 + 80pips = 1.6475 Entry price
GBP/CAD Current Price 1.6395 + 150pips = 1.6545 Entry price
In trading, you have to be defensive and aggressive at the same time
  • #5,715
  • Sep 1, 2013 9:10am Sep 1, 2013 9:10am
Quoting Davit
{quote} absolutely.EG movements are directly relates how EU and GU doing.If USD is gaining on Euro expect Cable to gain strength on Euro as well. I am going to post something from my friend HDA HERE WE GO: To trade crosses, you have to only focus on both MAJORS of the crosses - we know that. For example - GBP/CAD is a cross - so we have to watch GBP/USD (major) and we have to watch USD/CAD (major). The base currency for the GBP/CAD is the CAD - so with that in mind - the base currency has a significant effect on the GBP/CAD pair. KEY THING TO NOTE:...
Just so you know, the GBPUSD and USDCAD have an equal impact on the GBPCAD, this is the case with all crosses. Think about it, very simple maths.
  • #5,716
  • Sep 1, 2013 9:37am Sep 1, 2013 9:37am
Quoting Davit
{quote} absolutely.EG movements are directly relates how EU and GU doing.If USD is gaining on Euro expect Cable to gain strength on Euro as well.
you cannot generalise like that imho - a strong dollar does not mean sterling will necessarily also gain. both eur and gbp could and probably will weaken. there is no reason from what you have said for gbp to strengthen with the dollar against the eur,

and btw "cable" refers to the gbpusd cross not to gbp alone
  • #5,717
  • Sep 1, 2013 9:38am Sep 1, 2013 9:38am
Quoting JeremyWS
{quote} Just so you know, the GBPUSD and USDCAD have an equal impact on the GBPCAD, this is the case with all crosses. Think about it, very simple maths.

Difference is travel distance. Minors move almost double then majors and this is why I like minors.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #5,718
  • Sep 1, 2013 9:39am Sep 1, 2013 9:39am
Quoting Davit
{quote} Difference is travel distance. Minors move almost double then majors and this is why I like minors. Regards
I do like minors, but what makes you think the moves are double the moves in majors?
  • #5,719
  • Sep 1, 2013 9:45am Sep 1, 2013 9:45am
Quoting cg uno
{quote} you cannot generalise like that imho - a strong dollar does not mean sterling will necessarily also gain. both eur and gbp could and probably will weaken. there is no reason from what you have said for gbp to strengthen with the dollar against the eur, and btw "cable" refers to the gbpusd cross not to gbp alone

Its not a generalization but fact.Both can be weak but one is weaker
GU at current 5495
EU at current 3218


EG -Clear Pound dominance over Euro
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.weekly.png Size: 36 KB
In trading, you have to be defensive and aggressive at the same time
  • #5,720
  • Sep 1, 2013 9:51am Sep 1, 2013 9:51am
Quoting Pooks
{quote} STEVE I am also a Median LIne Trader.. and pretty good at it... We should start our own free group or chat ... Me, you, some other good median line traders on here.. Don't pay $500... I think if we create a tight knit community we can all benefit each other.
Hello Pooks,

Would you maybe share your knowledge on this forum? I am just starting up with Median lines and sure would like to learn form traders who are pretty good at it. If you and Steve and mabe others start a separate group I would sure like to know about it. And of course would like to know how to participate. On the other hand this forum was not very active so maybe this forum can be used to share ideas.

Thanks.

FP
Posting Demo charts, mirroring some of them live.
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