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Andrews Pitchfork (Median Line)

  • #7,041
  • Jul 15, 2015 10:33pm Jul 15, 2015 10:33pm
Quoting raiders
as far as trading the pitchfork, I'm curious as to where you decide to place your sl. Take AU for instance. Where would you place your buy and stop? Thanks for your info guys
I'm relatively new to forking however I've been doing my homework on this amazing method of trading.

It is important to understand the basics to be able to exploit trading opportunities. There are several ways to trade pitchforks.

This thread contains much towards learning.

I am working on my own particular way of trading forks and if things work out I'll post my own humble stuff
  • #7,042
  • Edited 2:31am Jul 16, 2015 12:09am | Edited 2:31am
Quoting CarsonKT
Thx Jami, What was I thinking to ask that question
Carson, Dr Andrews wrote a rule about your question and your chart below is a perfect illustration of that rule. If it is applied in the proper context of price flow, proper frame, proper stop loss and a logical profit target. Potentially, it can be used as a solid trade setup.

Dr Andrews " Frequently, after crossing a lower MLH, prices continue to rise along the MLH before the further drop that was signalled by passing through. So here you can use a sliding parallel through the bottom of the range of the most recent day as a sell signal if prices drop through the SH."
In simple english, in an uptrend when price breaks out of upper parallel, price will crawl down along the upper line before going higher. (The opposite applies in a downtrend.) Your pound chart is a perfect illustration of the above rule. Price breaks out, crawls lower, retests the upper parallel and then makes a higher high.
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  • #7,043
  • Jul 16, 2015 4:03am Jul 16, 2015 4:03am
Quoting Jami
{quote} Carson, Dr Andrews wrote a rule about your question and your chart below is a perfect illustration of that rule. If it is applied in the proper context of price flow, proper frame, proper stop loss and a logical profit target. Potentially, it can be used as a solid trade setup. Dr Andrews " Frequently, after crossing a lower MLH, prices continue to rise along the MLH before the further drop that was signalled by passing through. So here you can use a sliding parallel through the bottom of the range of the most recent day as a sell signal...
just an observation on your uptrend, you can also go back to regular ML. A at the low, move your b across to your first circle touch, leave C as its ok. This defines a clear range and the pivots are correct.
  • #7,044
  • Jul 16, 2015 5:24am Jul 16, 2015 5:24am
Posting a H4 NZDUSD chart that's been working a treat, the ML frequency seems to still be holding
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  • #7,045
  • Jul 16, 2015 5:36am Jul 16, 2015 5:36am
Quoting eaglestar
{quote} Wow CarsonKT your charts are looking good. How long have you been trading ML? I think you are a natural at this. I will be posting more charts tonight hopefully and tomorrow.
Thanks eaglestar, I only trade ML for barely half a year, so I am really new and still have a lot to learn.
What I found interesting is the moment I follow my charts and enter some trades, the fork is doomed.
  • #7,046
  • Jul 16, 2015 5:49am Jul 16, 2015 5:49am
Quoting Jami
{quote} Carson, Dr Andrews wrote a rule about your question and your chart below is a perfect illustration of that rule. If it is applied in the proper context of price flow, proper frame, proper stop loss and a logical profit target. Potentially, it can be used as a solid trade setup. Dr Andrews " Frequently, after crossing a lower MLH, prices continue to rise along the MLH before the further drop that was signalled by passing through. So here you can use a sliding parallel through the bottom of the range of the most recent day as a sell signal...
Thanks Jami,
I should read Dr Andrews original work more often, I sometimes found it hard to follow sometimes, so I am reluctant to do so.
Lesson well learned, Thank

Quoting shagrz
{quote} just an observation on your uptrend, you can also go back to regular ML. A at the low, move your b across to your first circle touch, leave C as its ok. This defines a clear range and the pivots are correct.
Thanks shagrz
I made some adjustment yesterday, I kept my A, and move my B to the point you said and kept my C
and still using a modified fork, so far it catches a lot of up move frequency,
but as I replies to eaglestar, the moment I start to trade this fork, it's doomed
  • #7,047
  • Jul 16, 2015 6:19am Jul 16, 2015 6:19am
Quoting mercesa
Long EURGBP. Entered on the confluence of lines. Lets see how it goes. {image}
Stopped out for a loss of 75 pips.
  • #7,048
  • Jul 16, 2015 6:20am Jul 16, 2015 6:20am
Quoting mercesa
Short GBPAUD aiming ML. {image}
Closed for a gain 267 pips.
  • #7,049
  • Jul 16, 2015 6:28am Jul 16, 2015 6:28am
Quoting CarsonKT
{quote} Thanks Jami, I should read Dr Andrews original work more often, I sometimes found it hard to follow sometimes, so I am reluctant to do so. Lesson well learned, Thank {quote} Thanks shagrz I made some adjustment yesterday, I kept my A, and move my B to the point you said and kept my C and still using a modified fork, so far it catches a lot of up move frequency, but as I replies to eaglestar, the moment I start to trade this fork, it's doomed
no probs, its just stuck in a range for the time being, see if it breaks or pops... and nice work btw.
  • #7,050
  • Jul 16, 2015 7:44am Jul 16, 2015 7:44am
Some commodities i am looking at will post some forex charts shortly
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #7,051
  • Jul 16, 2015 8:12am Jul 16, 2015 8:12am
Usd Index H4
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  • #7,052
  • Jul 16, 2015 11:00am Jul 16, 2015 11:00am
had some computer issues, resolved now. Here are some charts.
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #7,053
  • Jul 16, 2015 4:18pm Jul 16, 2015 4:18pm
Watch the mpl on this audusd 15m

Potential break soon on usdchf fork
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #7,054
  • Jul 17, 2015 11:28am Jul 17, 2015 11:28am
some updates commodities...
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #7,055
  • Jul 18, 2015 6:56pm Jul 18, 2015 6:56pm
Quoting eaglestar
some updates commodities... {image} {image} {image} {image} {image} {image} {image} {image} {image} {image}
Your command of the fork is impressive as shown by how simple you make it look. Thanks ES.
  • #7,056
  • Jul 19, 2015 3:29am Jul 19, 2015 3:29am
Watching Tim Morgeīs U tube videos, this one stands out...

Inserted Video



Why?
Drawing the forks, seems to be the easy part.

Whatīs really interesting, is the way he reads the bars (price action).
The way he enters (cheap).
The way he manages the trade, making sure he getīs the best chance to hit the Take Profit, again rerading the price bars, (assisted by the fork).

If anyone can learn to spot, execute and manage a trade that way....he can quit his job...and become a full time, (rich trader).
Itīs an art...it probably takes a thousand trades of practice...
  • #7,057
  • Jul 19, 2015 4:53am Jul 19, 2015 4:53am
I love to use the fork, you can see price is respecting it a lot, I assume the big boys are using the forks
Bulls are stupid Animals!especially when Im short!
  • #7,058
  • Jul 19, 2015 4:54am Jul 19, 2015 4:54am
I love to use the fork, you can see price is respecting it a lot, I assume the big boys are using the forks.
but it sometimes can be hard to plot correctly
Bulls are stupid Animals!especially when Im short!
  • #7,059
  • Jul 20, 2015 12:31am Jul 20, 2015 12:31am
Quoting Winston Reed
{quote} Your command of the fork is impressive as shown by how simple you make it look. Thanks ES.
Thank you Winston. Simplicity and skill are achieved by practice. Practice is achieved through investing time, and thereby developing experience. I am still a student, so I ask that we learn together.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #7,060
  • Jul 20, 2015 1:39am Jul 20, 2015 1:39am
Quoting mercesa
Hi Eagle, I'm learning to read the markets, with your help. If you can post some charts on H4 TF very much apreciated. I post my action from yesterday. Closed because 1) Friday and 2) I will not be monitoring today. Thanks {image} {image}
Made a video, a bit sleepy here in nyc time.

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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
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