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Pitchfork and fibonacci
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Pitchfork and fibonacci

  #1 (permalink)
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Pitchfork and fibonacci

Is there any book or a trading course that covers the relationship between Pitchfork and fibonacci price retracement ?

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  #3 (permalink)
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Hi Ness,

Never knew there were any actual relationships between the two let alone any trading course on a relationship between the two either.

With regards to understanding of the creation of each method, well there is plenty of information via the Web regarding that as you would know. I myself do not know of any relationship course, however I would find it quite simple in using both given the right time and instrument, or towards a considered stock trade, and others I am sure will sound off what and how they would do. Yet there are quite a mix of traders here of which some being simply price traders so each to their own on that.

Needless to say, depending on what your trading as you know both are extremely useful tools.

The way I view this is, Fibonacci is a more mathematically based number based tool that works both vertically, horizontally and circular application accordingly. Meanwhile Andrews PF is obviously Pitch forked shaped created by a 3 points at the end of created trend-lines which create channels of support & resistance accordingly.

Hope that makes a bit of sense anyhow, and apology if my reply is off the mark to your thoughts.

Cheers!

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  #4 (permalink)
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PF


studio88 View Post
Hi Ness,

Never knew there were any actual relationships between the two let alone any trading course on a relationship between the two either.

With regards to understanding of the creation of each method, well there is plenty of information via the Web regarding that as you would know. I myself do not know of any relationship course, however I would find it quite simple in using both given the right time and instrument, or towards a considered stock trade, and others I am sure will sound off what and how they would do. Yet there are quite a mix of traders here of which some being simply price traders so each to their own on that.

Needless to say, depending on what your trading as you know both are extremely useful tools.

The way I view this is, Fibonacci is a more mathematically based number based tool that works both vertically, horizontally and circular application accordingly. Meanwhile Andrews PF is obviously Pitch forked shaped created by a 3 points at the end of created trend-lines which create channels of support & resistance accordingly.

Hope that makes a bit of sense anyhow, and apology if my reply is off the mark to your thoughts.

Cheers!


Thank you for taking the time to answer .
Cheers.
Robert

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  #5 (permalink)
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Interesting juxtaposition of indicators (since it never occurred to me ).

If you place a Fib band indicator on your chart it seems likely the mid pitchfork will coincide with the 50% Fib level, the bounding trend lines the 0% and 100% Fib levels.

Thanks!

Edited to add: a popular hypothesis that I have yet to study is that Fib bands are related to the way traders at institutions are taught to buy and sell, 50% corresponding to the "no clue but deep pockets" school of thought.


Last edited by bnichols; December 16th, 2012 at 12:42 AM.
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ness1g View Post
Is there any book or a trading course that covers the relationship between Pitchfork and fibonacci price retracement ?

Integrated Pitchfork Analysis: Basic to Intermediate Level (Wiley Trading) [Hardcover]
Dr. Mircea Dologa (Author)

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Pitchfork and fibonacci-2012-12-16_0019.png  
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  #7 (permalink)
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PF-fibo


cory View Post
Integrated Pitchfork Analysis: Basic to Intermediate Level (Wiley Trading) [Hardcover]
Dr. Mircea Dologa (Author)

Interesting, I'll check it out
Thanks Cory.

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swing ratios in time and price and extrapolation


studio88 View Post
Hi Ness,

Never knew there were any actual relationships between the two let alone any trading course on a relationship between the two either.

With regards to understanding of the creation of each method, well there is plenty of information via the Web regarding that as you would know. I myself do not know of any relationship course, however I would find it quite simple in using both given the right time and instrument, or towards a considered stock trade, and others I am sure will sound off what and how they would do. Yet there are quite a mix of traders here of which some being simply price traders so each to their own on that.

Needless to say, depending on what your trading as you know both are extremely useful tools.

The way I view this is, Fibonacci is a more mathematically based number based tool that works both vertically, horizontally and circular application accordingly. Meanwhile Andrews PF is obviously Pitch forked shaped created by a 3 points at the end of created trend-lines which create channels of support & resistance accordingly.

Hope that makes a bit of sense anyhow, and apology if my reply is off the mark to your thoughts.

Cheers!

When constructing a pitchfork you "pick" 3 swing points, their orientation/separation in price and time are critical since they determine the orientation of the fork.

When constructing a fib retracement you "pick" two swing points; this will yield both the typical internal retracements as well as external retracements which are actually swing "continuation" extensions when the 1st point is violated.

When construction a fib extensions you "pick" three points; if you draw a line between the 1st and third and offset it to the 2nd you have created a measured move channel.

The 1.38 external retracement (and sometimes the 1.27 and lesser the 1.62) is (are) sought after for the harmonic corner trade.

Strip out time and just do price with CL range chart with external retracement buy: image 2 & 4.



Moving on to the next swing with 1,2,3, extention channel off a higher low image3:





Theres a lot of "price" swing harmonics here, next step is intersecting median vertices as horizontal S & R ( wait that sounds like complete BS) image 1:





So pick your 3 swing points, are they pointing up? down? sort a sideways? sort a subjective isn't it?
I dont know if books would help, loads of stuff on the internet and in free webinars; go there and grill the "experts"
Then set up your tools and apply them to the real live market, learn by doing.

Attached Thumbnails
Pitchfork and fibonacci-cl-int.jpg   Pitchfork and fibonacci-cl-pf.jpg   Pitchfork and fibonacci-cl-ext.jpg   Pitchfork and fibonacci-cl-pf2.jpg  

Last edited by peterg; December 16th, 2012 at 04:21 PM.
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  #9 (permalink)
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peterg View Post
When constructing a pitchfork you "pick" 3 swing points, their orientation/separation in price and time are critical since they determine the orientation of the fork.

When constructing a fib retracement you "pick" two swing points; this will yield both the typical internal retracements as well as external retracements which are actually swing "continuation" extensions when the 1st point is violated.

When construction a fib extensions you "pick" three points; if you draw a line between the 1st and third and offset it to the 2nd you have created a measured move channel.

The 1.38 external retracement (and sometimes the 1.27 and lesser the 1.62) is (are) sought after for the harmonic corner trade.

Strip out time and just do price with CL range chart with external retracement buy:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Moving on to the next swing with 1,2,3, extention channel off a higher low:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).




Theres a lot of "price" swing harmonics here, next step is intersecting median vertices as horizontal S & R ( wait that sounds like complete BS):

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).




So pick your 3 swing points, are they pointing up? down? sort a sideways? sort a subjective isn't it?
I dont know if books would help, loads of stuff on the internet and in free webinars; go there and grill the "experts"
Then set up your tools and apply them to the real live market, learn by doing.

Ok Thank you Peter

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  #10 (permalink)
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median lines


check out median lines by tim morge... ib has his webinars...and check out nqoos.com............

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