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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

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  #1 (permalink)
 bayfisherman 
Tallahassee
 
 
Posts: 57 since Jan 2012

Wanted to open a thread to post my charts and get some dialog and chart sharing going on. Been trading about 4/5 years now and these pitchforks have some of the best risk to reward setups I've found. I use some other tools like volume analysis and some fib work, occasionally I'll look at elliot wave to help define structure and maturity of a move. Feel free to ask questions and post charts I enjoy the interaction. I'm usually trading early before I have to go to work and in the evenings...located in Panama City Beach, FL CST.

Looking forward to hearing from you.

Here's a quick look at what I'm doing. This is the EU. I trade mostly currencies, but do follow correlation markets DX, CL, GC, TF, NQ, SPX500, USDOLLAR, USOIL

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  #3 (permalink)
 bayfisherman 
Tallahassee
 
 
Posts: 57 since Jan 2012


Didn't take this trade because I was loaded up on the EU short overnight but look at risk to reward here
from the sliding parallel to the median line...could have gotten in really cheap here.

Here are some of my recent trades...a couple breakeven, a couple nice winners.

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  #4 (permalink)
 trendisyourfriend 
Market Wizard
Quebec
 
Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker: AMP/CQG
Trading: ES, NQ, YM
 
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Posts: 4,177 since Oct 2009
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No doubt, Mr. Pitchfork was bright. Occasionally, i pitch a Fork on my chart but depending on the selection of your pivot (specially the middle arm) it can make a huge difference if the time interval covers lots of ground. I may revisit them if you can share how you proceed to draw them. However, i must admit, i feel more like a carpenter than a trader when i use these tools. These days, i prefer to identify key changes in supply/demand and use these zones when price revisit them, i have the feeling these zones are more significant than just an anonymous line whether it be a fib. or pitchfork line but that's my perception which is subjective at best. As they say, if you make good money that's what counts. I am eager to see more of your charts. Good continuation.

P.S. here is my most memorable comment about these lines many moons ago:

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  #5 (permalink)
 bayfisherman 
Tallahassee
 
 
Posts: 57 since Jan 2012

a mathematical probability built in since they are projections off prior price action...statistics show, price has an 80% probability to reach the next median line once it leaves the current one....I like those odds. Gives you well defined entries and profit targets.

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  #6 (permalink)
 bayfisherman 
Tallahassee
 
 
Posts: 57 since Jan 2012

If you will take note of the last post the image there is of the AU 60min...what is not shown is my downsloping fork...the red dotted lines are the downsloping fork I've been following. The slope is actually just a normal trendline it hits perfect 3 times through there you see the 2nd and 3rd hits...I'll just copy that line and drag it around to other significant swings and if there is frequency there I'll zero in the pivots I need to use and draw in the fork last. If you know a little about Elliot wave theory...a lot of the time wave 4 has the deepest pullback in the trend of the 5 waves and that will be my B and C points A will be the top of wave 1. To be honest as long as you are using signifcant swings high low high low high low, etc. and it looks good use it. Don't be afraid to move the b and C points some. Like I said if it looks good and it catches mulitiple turns, use it. Hope this helps.

KC_test_4 - pipslayer's library

kc_test_5 - pipslayer's library

kc_test_6 - pipslayer's library

These are some short videos of how I go about it.

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  #7 (permalink)
 JamTheTrader 
Juno Beach
 
Experience: Advanced
Platform: Ninja and TS
Broker: Optimus Futures / Matt
Trading: multiple
 
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Posts: 135 since Sep 2009


bayfisherman View Post
If you will take note of the last post the image there is of the AU 60min...what is not shown is my downsloping fork...the red dotted lines are the downsloping fork I've been following. The slope is actually just a normal trendline it hits perfect 3 times through there you see the 2nd and 3rd hits...I'll just copy that line and drag it around to other significant swings and if there is frequency there I'll zero in the pivots I need to use and draw in the fork last. If you know a little about Elliot wave theory...a lot of the time wave 4 has the deepest pullback in the trend of the 5 waves and that will be my B and C points A will be the top of wave 1. To be honest as long as you are using signifcant swings high low high low high low, etc. and it looks good use it. Don't be afraid to move the b and C points some. Like I said if it looks good and it catches mulitiple turns, use it. Hope this helps.

KC_test_4 - pipslayer's library

kc_test_5 - pipslayer's library

kc_test_6 - pipslayer's library

These are some short videos of how I go about it.

Great work KC, Nice to see you here on Big Mikes

JAM

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  #8 (permalink)
 trendisyourfriend 
Market Wizard
Quebec
 
Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker: AMP/CQG
Trading: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 4,177 since Oct 2009
Thanks: 3,854 given, 5,454 received

Thanks for the videos, i was wondering, do you trade the Futures (ES, TF, NQ, 6E) I'd like to see some forks for these instruments and compare with what i can produce myself, a cheap way to counter check if i do it correctly. Thanks again.

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  #9 (permalink)
 bayfisherman 
Tallahassee
 
 
Posts: 57 since Jan 2012


trendisyourfriend View Post
Thanks for the videos, i was wondering, do you trade the Futures (ES, TF, NQ, 6E) I'd like to see some forks for these instruments and compare with what i can produce myself, a cheap way to counter check if i do it correctly. Thanks again.

Updated 1/12/12 22:00 CST

Futures room 6E, CL, TF, NQ, adding gold GC and XAU/usd:

https://www.screencast.com/t/EuqoZ8uTU

Once you are in the library you will be able to scroll around to the other charts.

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  #10 (permalink)
 bayfisherman 
Tallahassee
 
 
Posts: 57 since Jan 2012


Nice run after news...

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Last Updated on November 25, 2012


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