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Median Line aka Andrews Pitchfork
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Median Line aka Andrews Pitchfork

  #31 (permalink)
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I like this "Heugabel". I look into Dologas Book.
It gives a clear mind for trading. Find SR Levels and so
on ...

Causality is the relationship between an event (the cause) and a second event (the effect), where the second event is a consequence of the first.
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  #32 (permalink)
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Most of these tools try to predict. I do use some of them like Market Profile, a bit of Pitchfork, sometimes a Fibonacci projection (but not as often as i used to do), the outer bands of a Keltner channel. Conventional levels of support/resistance, diagonal or median lines, Dow theory, action/reaction lines etc. I always try to have an open mind about these approach knowing each has its strength and weakness, that's it.
Even the desert draw its own lines, what's wrong with that ? :new:
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update at 14:50 EDT:
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End of session:
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  #33 (permalink)
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ES at 9:55:
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Update end of session:
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Today's fork-casts ;-)
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Last update for the ES:
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A star is born :
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*************
ES - Overnight price action:
On this chart we can see yesterday's VALUE AREA HIGH but looking at price action right at this spot (magenta dotted line) we can anticipate a break but where could price go if it breaks this resistance ? That's where Pitchfork can be usefull even more so than Fibonacci in my opinion.
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Edit at 10:35 EDT:
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14:55 EDT on the ES:
Nothing to the left, what's left ? Pitchfork of course.
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Some targets before regular session:
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Price action was symmetrical today on the ES:
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Some targets this morning on the ES:
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  #34 (permalink)
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Here's a chart from Friday. I switched from a 987 volume chart to a 15 range chart.

Mahlon

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Here are 2 possible scenarios for Monday.

Mahlon

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mahlonhersh View Post
Here are 2 possible scenarios for Monday.

Mahlon

No expert at pitchforks, but since price is already flying away from the top 100% line, doesn't this more or less invalidate the pitchfork?

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No expert at pitchforks, but since price is already flying away from the top 100% line, doesn't this more or less invalidate the pitchfork?

Mike

I'm no expert either!! Just trying to learn as I go along.

You are right. Price has gone through the upper median line parallel. So I added the upper warning line to give some reference as to where price might go since there doesn't seem to be a hint of it turning around yet. Isn't this somewhat similar to making a reference target with fib projections?

Mahlon

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An interesting article by Tim Morge about what to do with old pitchfork lines -

http://www.medianline.com/articles/Do You Recycle Your Old Lines or Throw Them Away.pdf

Mahlon


Last edited by mahlonhersh; August 28th, 2010 at 11:28 PM. Reason: Problems with link
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The complete pattern is closed. This is the ES, the last couple of days:
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Friday follow up:
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