The Beast. {image}
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
The One: Price Action and Reaction
- #261
- Nov 16, 2015 3:34pm Nov 16, 2015 3:34pm
- Joined Mar 2008 | Status: He who believes has eternal life. | 3,764 Posts
- #262
- Nov 16, 2015 3:36pm Nov 16, 2015 3:36pm
- Joined Mar 2008 | Status: He who believes has eternal life. | 3,764 Posts
A bigger picture. {image}
Now what are you going to do if price goes to the bottom? The things that we love tell us what we are Thanks Redsword11 and Tim Morge
- #263
- Nov 16, 2015 3:37pm Nov 16, 2015 3:37pm
- Joined Mar 2008 | Status: He who believes has eternal life. | 3,764 Posts
Here is how I see USDCHF on the Daily.... Really enjoying Forking!!
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
- #264
- Nov 16, 2015 3:38pm Nov 16, 2015 3:38pm
- Joined Mar 2008 | Status: He who believes has eternal life. | 3,764 Posts
Thanks for the interesting thread Eaglestar. I enjoyed the webinar and training video. Will take me quite a while to get the hang of it as I've never tried pitchforks before...but here's my first effort. {image}
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
- #265
- Nov 16, 2015 4:35pm Nov 16, 2015 4:35pm
- Joined Mar 2008 | Status: He who believes has eternal life. | 3,764 Posts
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
- #266
- Edited 5:59pm Nov 16, 2015 5:40pm | Edited 5:59pm
- | Joined Aug 2007 | Status: Trader | 123 Posts
Good job eaglestar ,
Thanks for sharing your free ideas and knowledge
I have barely touched pitchfork in many years trading, for me wasn't accurate as I expect from a tool.
I am pretty sure you have many things to say and this is only the scratch and draft and hand-warming .
But honestly I really don't understand what will happen on fake break-outs of pitchfork channel ? because there are too many
And in contrast, there are many real break-out as well , so distinguishing those in real-time is really hard for me.
Actually I can design many beautiful artworks from the history, but what will happen on the blank right side of unknown journey, I HAVE NO IDEA.
At this stage it is kinda random for me, hopefully it will get better and better, but from post one to last post, again I cannot see the probable future, only painting beautiful history
There is no doubt you are equipped with strong knowledge in market, and you are very organized person,
Your teaching method is really good and step by step.
May I ask you something ?
If I have a map from point A to point Z , so it will be much much easier for me to measure the progress.
Because I have no idea how many points are ahead to reach the point you are standing there.
First : you started with horizontal lines ( 2 dimensions )
Second : you added pitchfork ( third dimension - *the video regarding dimension of time you posted earlier was really interesting )
Third : you added sliding parallels
But I have no idea how many stages we have ahead ( why I say this ? because until this point, I cannot trade with these infos solely )
I hope that you clarify the stages, so we can measure our progress until become a professional trader like you
please keep doing your nice fork work
Thanks for sharing your free ideas and knowledge
I have barely touched pitchfork in many years trading, for me wasn't accurate as I expect from a tool.
I am pretty sure you have many things to say and this is only the scratch and draft and hand-warming .
But honestly I really don't understand what will happen on fake break-outs of pitchfork channel ? because there are too many
And in contrast, there are many real break-out as well , so distinguishing those in real-time is really hard for me.
Actually I can design many beautiful artworks from the history, but what will happen on the blank right side of unknown journey, I HAVE NO IDEA.
At this stage it is kinda random for me, hopefully it will get better and better, but from post one to last post, again I cannot see the probable future, only painting beautiful history
There is no doubt you are equipped with strong knowledge in market, and you are very organized person,
Your teaching method is really good and step by step.
May I ask you something ?
If I have a map from point A to point Z , so it will be much much easier for me to measure the progress.
Because I have no idea how many points are ahead to reach the point you are standing there.
First : you started with horizontal lines ( 2 dimensions )
Second : you added pitchfork ( third dimension - *the video regarding dimension of time you posted earlier was really interesting )
Third : you added sliding parallels
But I have no idea how many stages we have ahead ( why I say this ? because until this point, I cannot trade with these infos solely )
I hope that you clarify the stages, so we can measure our progress until become a professional trader like you
please keep doing your nice fork work
Its a Schiff Pitchfork, not Andrews, because of sharp drop in price {image}
I'm really embarrassed now, coz I hadn't heard of Schiff Pitchfork before , this is mainly because I was not fork fan at all.
It was really beautiful if I would sell all or maybe just last two of those red circles.
But my problem is what is the plan now ?
waiting ?
If waiting, ok waiting for what ? selling on upper sliding parallel ?
or buying right now with target upper parallel ?
When it goes up right now and touch the mentioned sliding parallel with beautiful red circles, are you going to sell again or not ?
My question is blank right side
- #274
- Nov 16, 2015 8:49pm Nov 16, 2015 8:49pm
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
{quote} Thank you for teaching new stuffs to me I'm really embarrassed now, coz I hadn't heard of Schiff Pitchfork before , this is mainly because I was not fork fan at all. It was really beautiful if I would sell all or maybe just last two of those red circles. But my problem is what is the plan now ? waiting ? If waiting, ok waiting for what ? selling on upper sliding parallel ? or buying right now with target upper parallel ? When it goes up right now and touch the mentioned sliding parallel with beautiful red circles, are you going to sell again...
This is my NZDUSDH1 chart. It is an ordinary fork. It describes price action pretty well. Notice the upper median line that price has respected.
The purpose of the fork is to give meaning to the waves of price as they form. In this chart the upper median line has been verified as legitimate because price has respected it. Price has tested and retested the upper median line. Trading the retests is a strategy I and others use. I don't mind taking trades from the upper median line as many times as price wants to test it. But this is me.
As price moves the fork attempts to define the frequency with which price moves. Therefore other areas of diagonal s/r may form that mimic the same diagonal angle as the fork. These parallels might be tested and retested and therefore the retests may be traded. Horizontal s/r will also be present. It's intersection with diagonal s/r at key parallels or at upper/lower and median line adds confluence. One thing to understand is that price doesn't really respect the lines "to the pip".
- #275
- Nov 17, 2015 2:26am Nov 17, 2015 2:26am
- Joined Jun 2015 | Status: Zen :-) | 1,185 Posts
Here is an update on the Silver chart that I posted yesterday. I have moved the forks from where I had them plotted yesterday (I am new to forking). I'm not telling anyone to buy as it could well go South from here. However it does seem to be at a decision point and may be worth keeping an eye on. I have also added a couple of arrows to illustrate areas in the past that could potentially have made us some money as per the basics of S&R trading.
Eaglestar or Winston or anyone else who wants to please offer feedback / criticism please do so. I am very keen to learn this method of trading.
I am not too sure about my 1st (blue) fork. Is it ok?
Eaglestar or Winston or anyone else who wants to please offer feedback / criticism please do so. I am very keen to learn this method of trading.
I am not too sure about my 1st (blue) fork. Is it ok?
Indentify > Plan > Accept > Execute
- #279
- Nov 17, 2015 4:45am Nov 17, 2015 4:45am
- Joined Jun 2015 | Status: Zen :-) | 1,185 Posts
Indentify > Plan > Accept > Execute