Andrews Pitchfork (Median Line)

Forex 4h/1h

Commodities

I will be posting some more charts tonight, but I wanted to know what would be the most helpful in continuing my posts here. I don't always have time now to call live trades on forex 15 minute charts because I am looking for longer term commodity/currency swings. Please let me know how I can help you guys here.

Take care

Great stuff as always, maybe a bit more annotation?

GBPNZD 4h
Thoughts..


A 5m shot of the first Hagopian's Rule. One of many ideas on deciding if Hagopian's Rule may be in play.

Edit: That blue arrow should be pointing to the previous low volume bar.

I Always have been faccinated by pitchforks but at the same time I have a huge probllem placing them correctly, it seems there are Always multiple ways to plot the pitchforks, are there any rules to this?​

use market structure to confirm the swing highs/lows ensures you get your pivots right, takes a bit of time to perfect.

Trendline

read the action reaction course at www.medianline.com/articles

continued

Watch and listen to Tim stalking a trade setup July 2015 in the AUD/USD

Thanks, will have a look

follow up
huge moves down in grains today.

Hi! here is a few forks I drawn, it's still a bit confusing to me. which one of these would be good and which are the ones that are bad?
I don't know which one I should use sinse there is so many forks, that is my problem.
and there are probably more forks I could draw on this chart too.

Hey RT. You want to choose the fork/s that best describe PA. Although PA won't necessarily bounce to the pip you want to see PA respecting one or more of the lines (the median line or the upper/lower parallel). Identifying swing highs/lows can help.

Some may think we are just drawing forks to suit but there are rules so the forks are not random. We just want to see the fork/s that best describe current market structure. It takes a bit of practice to get the hang of it but after a while it really isn't so difficult.

This is my current H4 EURUSD.

Attachment

The above charts illustrates a basic pitchfork. A is the anchor. B to C designates where the median line bisects. We know that after C price will reach the median line 80% of the time. At D it does.

But how can we trade this and should we trade this? And I ask the question sincerely and not as an expert by any means.

1. The rectangle encloses some PA that I think may offer clues but this is just me thinking.
2. The blue down arrow shows a Bullish engulfing bar but it closes near its halfway mark. It does seem to signify willing buyers wanting to take price up but the close half way down says sellers came in. This bar is also enough for me to create C and thus the fork and start watching how PA reacts at the lower parallel of this fork
3. The first yellow up arrow shows a return to the lower parallel (actually it's not the first time) and so I would consider it a retest and a long signal. Price does move up some and I think one could have got to BE before the next PA
4. The red down arrow and then the second up yellow arrow show a 2 bar pin bar. The close of the first half would probably have shook out most long trades but the second half closed almost on it's high thus the 2 bar pinbar. This to me says buyers keep coming in and I should be looking for a long entry.
5. The third yellow up arrow shows price nearing the lower parallel but not quite making it. In hindsight it was a good buy but I can't say I would have taken it.
6. The blue horizontal line represents where price first breaks above a minor high. Once it does this price retests the line then move to the median line.

So the rule says price will make it to the median line 80% of the time after forming C. It seems this very concept is tradeable and yet I struggle with entries based on this simple concept.

Would love to hear comments or other analysis.

H4 EURUSD with newest fork. ABC shown. The blue down arrow is a bearish engulfer signifying sellers. Pivot C seems valid so to me we start watching for PA and anticipate a move towards the median line. A test and retest of the upper parallel is sought by many forkers but is the engulfer enough. After the engulfer price did move down significantly but as you can see it has retraced. So now should we still wait for a test/retest? No doubt price often moves to the median line without a test/retest.