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Swing trading with Andrew's Forks and volume analysis
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Swing trading with Andrew's Forks and volume analysis

  #11 (permalink)
spanish trader
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good strategy to apply with spot silver and gold

Is there any median pitchfork indicator for ninjatrader?
Have you tried priceactionswing?


Last edited by trendfly; January 13th, 2012 at 08:54 PM.
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  #12 (permalink)
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Gold


trendfly View Post
Is there any median pitchfork indicator for ninjatrader?
Have you tried priceactionswing?

Haven't tried "priceactionswing"...not sure what that is. As a pitchfork for gold, I don't use an "indicator" per say, I draw those in myself.

Here are the charts I have for gold spot and gold futures.

XAU/usd & GC 3-12:

If you look in the prior posts in the "futures room" screencast I have these same charts posted. Hope this helps.

The text on the GC chart should read I've been chasing a short in "GOLD" not oil...I'm usually up early in the morning doing these half asleep...

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Swing trading with Andrew's Forks and volume analysis-gold.jpg   Swing trading with Andrew's Forks and volume analysis-gc-2-12-60m.jpg  

Last edited by bayfisherman; January 14th, 2012 at 10:38 AM.
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  #13 (permalink)
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trendfly View Post
Is there any median pitchfork indicator for ninjatrader?
Have you tried priceactionswing?

Ironic just ran across another guy using the pitchfork Guess this is the "new" jk, yes Price swing works great with it, also look at bwfractals for the ABC

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EU 240


Rad4633 View Post
Ironic just ran across another guy using the pitchfork Guess this is the "new" jk, yes Price swing works great with it, also look at bwfractals for the ABC

Not sure what you mean by new jk, but forks have been around for a while. Not familiar with price swing indicator or bwfractals. I just trade the lines. I use some volume analysis to help make decisions along with candle/bar patterns at the lines. Typically I wait for an intial reaction off the line first then place the order on the retest with stop behind the first test swing.

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Swing trading with Andrew's Forks and volume analysis-eu-240m.jpg  

Last edited by bayfisherman; January 14th, 2012 at 10:34 AM.
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I find the secondary black Fork difficult to believe or impractical. Some spot coincides with turning points but it is more of an illusion or just coincidental. That's the weak point i found with this type of analysis when you use a Fork just for the sake of using it.

The example on this chart:
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Action Reaction lines


trendisyourfriend View Post
I find the secondary black Fork difficult to believe or impractical. Some spot coincides with turning points but it is more of an illusion or just coincidental. That's the weak point i found with this type of analysis when you use a Fork just for the sake of using it.

I have to agree with you in that there are times when a pitchfork is a little sloppy as I can see this black on down towards the current price action. Forks have there time and place in a move then it becomes invalid as the trend changes or market conditions change, so then I'll draw in a new one as swings are broken. They are nothing more than trendlines, hopefully you can see the usefulness in that, parallel channels, projections, etc., if not I don't really know how to respond to your comments.

The black fork is what is called action reaction lines, I'm not using it here in a typical "fork fashion". It's more of a projection tool here. Everybody believes what they want and I have confidence in these lines, so if you don't I suggest you don't trade them. I haven't found anything that is exact, so if you have something to offer I would like to see it. I'm always open to other peoples ideas even if I don't understand them. I've seen some Gann Fan analysis that incorporates price and time that look like these crazy star shapes, etc. Wild looking charts, but hey if those guys make money off them and know how to trade them, who's to criticize. I find the market is measured and moves in cycles and that is all the black fork here is suggesting. Here's an example in the pound. I've been selling the pullbacks into these blue lines all the way down. The same way I'll be watching these black lines for support on pullbacks.

If you would like to learn more about action reaction lines there is some great information on youtube @ Tim Morge, "Market Geometry". He's a billion dollar hedge fund manager.

Feel free to post some charts here on the EU or whatever I'm posting...like I said I like to see what other people are doing.

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GU 240m

Just thought I'd scope this out for you...as you put it "coincidence", how many times defines conicidence anyway? Isn't that we are all looking for in the market repeatable patterns, cycles, levels tested and retested, coincidence. Coincidence is exactly what I'm looking for because I don't believe it is coincidence, there is definitely something going on here.

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Fork projection of the handle

I had completely forgotten that I came across a guy that was using the handle as a time projection....I was going to back test the idea then just got busy and it went by the wayside. This is the same red fork on the last post...Check out the projection of the handle hitting th swing high perfectly...very nice coincidence. Will have to keep an eye on this one.

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bayfisherman View Post
Just thought I'd scope this out for you...as you put it "coincidence", how many times defines conicidence anyway? Isn't that we are all looking for in the market repeatable patterns, cycles, levels tested and retested, coincidence. Coincidence is exactly what I'm looking for because I don't believe it is coincidence, there is definitely something going on here.

My previous comment was not meant to be a negative critic of Pitchfork's analysis as i can see the merit in it to form a mental structure like those traders who use the VWAP with 3 standard deviation bands etc.. It's when we over-abuse these lines that i have some doubts.

What about if you could simplify your workload as a trader and still gain the same benefit if not more by focusing your attention where it counts, ie, key changes in supply/demand, balancing zones and obvious support/resistance creation when momentum kicks in.

In your chart, where you show the time handle projection you could have identified this area as a supply zone without the need to project this vertical line. To help you better understand my point, read this controversial article by Lance Begg about the illusion of lines on a chart when you have time, maybe you'll find it thought-provoking. You can also disregard my comment just as well because it is subjective and obviously corresponds to my experience and understanding so far.

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No problem



trendisyourfriend View Post
My previous comment was not meant to be a negative critic of Pitchfork's analysis as i can see the merit in it to form a mental structure like those traders who use the VWAP with 3 standard deviation bands etc.. It's when we over-abuse these lines that i have some doubts.

What about if you could simplify your workload as a trader and still gain the same benefit if not more by focusing your attention where it counts, ie, key changes in supply/demand, balancing zones and obvious support/resistance creation when momentum kicks in.

In your chart, where you show the time handle projection you could have identified this area as a supply zone without the need to project this vertical line. To help you better understand my point, read this controversial article by Lance Begg about the illusion of lines on a chart when you have time, maybe you'll find it thought-provoking. You can also disregard my comment just as well because it is subjective and obviously corresponds to my experience and understanding so far.


I know people that trade just price action alone, no lines, no indicators, etc. Price action really is the best indicator itself. The lines are probably just training wheels for some of us that don't read the market well. As you mentioned, the mental structure or framing the market is what it helps me with. It would be hard for me to look at my charts with out them. It helps me see the maturity of a move...I can see divergence and other momentum type tendencies within the structure of the fork. I like the fact that it has a mathematical probability built into them and they do work as a leading indicator projecting into the future like they do. I'm always looking for confluence of areas...trend, momentum, cycles, fractals across time frames and support/resistance. I look at fibs but don't trade off them, but I know lots of other people do...so they are important to me, along with other various technical tools. As far as supply and demand zones, I have my own volume analysis that I use to identify those areas. Prior accumulation and distribution areas that I can line up with my support resistance lines horizontal as well as diagonal. I really believe the market is measured and cycles within ranges as the market moves sideways and channels/ranges as the market trends up and down. The forks give me well defined entry and exit points, so they work well for me.

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