Andrews Pitchfork (Median Line)

It was nice trade, just the spread was too big with this broker, I took it with another one:

good shot vitall on eurnzd
i think you're winning many pips now

DAILY EUR/NZD

usdjpy 240m. waiting to see if this new upsloper is going to give me a long entry

Another perspective from Daily USDJPY

I got out before the news But it was good trade anyway.

Daily crude oil (brent)

CL 8-14 futures contract daily

101.7

nzdcad h4
>stoch bull div
> sma 20 D on support

http://img11.hostingpics.net/pics/13662257nz.png

60 min. EUR/USD.

Hi paul please upload the wave indicator that you used here , i will really appreciate , thanks

hello flybird
As ellot wave counter i just tweak macd to 5,35,5 ...it's very helpful

Anyway if you need to define elliot waves along with some indicators look at this attached pdf

update




Hello everyone,

I watch gold......

be good

gannmasterforex.blogspot.ro

Awesome frequency!

Daily family dollar

Hello Kapital and all contributors on this thread,

I have enjoyed reading this thread, a good discussion, brings good ideas that can help others with the use of forks, A/R lines & median lines. Below is a chart I posted recently on the EUR/CAD 240 as I was looking for a P5 Low following a nice run down into my P0/P1 Schiff P3-P4 Median Line which was one of the tools used by A.Andrews for picking major P5's. You will also notice I drew a regular P2-P3/P4 ML ( Dotted Line ) to illustrate that both downward sloping ML's were EQUALLY VALID however they were interpreting 2 very different, high probability scenario's!

1. I was using the P0/P1 Schiff P3-P4 Median Line to pick P5. The initial reversal bar and subsequent alternate closes gave me additional confluence.
2. Knowing that we were likely at a P5, The regular P2-P3/P4 ML ( Dotted Line ) tells me that this is also a PRICE FAILURE! This is equally if not more important as this gives me the initial Minimum Upward Target to be at least equal to the High at the P4 Pivot ( 1.46512 ) and more likely will reach higher levels. ( This is not my Rule but one of Andrews Golden Rules )

Now, I will let the chart speak for itself, There is alot more to add to this chart ( You can even predict the slope of the next move based on A/R lines! ) however small chunks are more easily understood. I hope you guy's like it and I hope to contribute a few more ideas to this thread

Sincerely,

TIK
Attachment

Great post Timingiskey!

Glad you liked it.

Borrowing a page from Timingiskey:

Although there is pre-resonance support at the lower quartile, price failed to break the resistance found at Pivot A of the pitchfork. Coming off that resistance, price tried to find support at the upper quartile but eventually failed once price met strong resistance at the sliding parallel.

What's going on now is that price is trading below the median line. Although price has been met with resistance there, going forward, I'm not yet convinced that it will be able to keep price below it (the upcoming European session should give an indication). Price may decided to fluctuate around it for a bit. If it does or doesn't, I'm looking for price to either target the upper quartile or lower parallel.