Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I was wondering if anyone uses or has used the Median Line to trade. I've been reading some stuff and it seems interesting. Not that I want to ad it, but curious about other experiences.
Tim does a free webinar every Monday at 11:00 AM Arizona time. Here is what I took away from the webinar this last Monday -
The 3 most important things in deciding on taking a trade -
1. Market Structure - HL, HH, LL, LH, etc.
2. Context - trending?, other timeframes, other things that give you an idea of what is happening.
3. Frequency - waves, including median lines.
I have just recently started looking at the pitchfork. It does look interesting. I think we may find it more helpful in trending markets - less so in sideways markets.
One thing I have discovered is I tend to "force" the pitchfork to show me a trade - changing pivot points, moving the median line to match up to whatever, etc. It's just like everything else in trading - we need to look and listen to what the market is telling us. Not us telling the market what we want. In one of Tim's videos he says that he is very patient. I know I need to work on this more, to be patient until that "sweet spot" comes along.
I have looked at the trading-naked site quite a lot and that is actually where I saw the median line used in interesting ways. The guy that started that site, NQoos (Jim) did some interesting stuff with the median line where he combines it with other methods such as market profile or fib levels under the confluence setup area.
I also found it interesting that according to Morge a setup based on the pitchfork has and 80% chance of hitting the mid-line as a first target. If that is true it's impressive.
I hear you loud and clear. Going back and putting on a pitchfork after the fact is easy. It seems everything is easy in hind sight. One thing the guy on trading-naked.com says it wait for an ABC to occur and then apply the pitchfork. The trade would be a test of the upper or lower line depending on the direction. Waiting for the bar to close is also important. The bar that does the test that is. Also using higher time frames may be helpful such as a 15 minute or 30 minute instead of trying to fit to every swing.
We are close to breaking through support. I am watching for a down move to the median line then a pullback to the upper median line. This would make for a low risk entry with a small stop and the median line as a target. As David mentioned, this trade setup has about an 80% success rate.
