thread: Andrews Pitchfork (Median Line)

GU H4. Don't consider this as a Multi-time frame type of item. I treat it completely separately. The yellowish fork fulfilled it's purpose with price coming back to it's center line. It broke resistance and has been gapping down and has broken the lower ML. The bullish WRB gap 1 has been taken out. A return to WRB gap/OB 2 is something I'd be interested in. We are going to see.

picture

I like this one better.

quote I like this one better. picture

Obtaining long at the arrow is tough for many. Price took out the bearish tail using WRB gap 1 after making a higher low and proceeded on to create a higher high. After falling sellers at the top bluish-grey rectangle price came down to WRB gap 1 land. 50% of those gaps in the right situation is a fantastic place to think about. In this case buying it was the commerce. Price was not able to get to WRB gap 2s origin indiing strength to the upside. Additionally price zoomed the reddish TL that's acting as a centerline. Remember Andrew's principle that when price zooms a median line it frequently contributes to retest it there may be another opportunity to get long.

Before I apply forks I look at the market in general. At the light gray horizontal it is apparent that buyers took out a long standing area of vendors using a massive WRB gap. This is a controlling structure. The OHLC isn't visible on this chart and thus it is not what I'd use to exchange. But zooming out a bit can give you a an idea of what the market is doin overall.

Before I employ forks I have a look at the market generally. At the light gray horizontal it is clear that buyers took a long standing area of vendors with a large WRB gap. This remains a structure. The OHLC is not visible on this chart and so it is not what I'd use to exchange. But zooming a bit can give one a an idea of what the market is doin overall. picture

Identifying important swings is adjacent. The swings are similar and also also the swings are alike. The final green swing is not complete since it is not yet evident whether it will turn down or continue. Swings in such a manner also helps to identify applicable pivots. Otherwise one can get bogged down trying to determine which pivot is significant or utilizing any recoil just to meet one's predetermined view as opposed to an objective view. Remember the light grey line beneath.

quote Identifying important swings is next. The blue swings are similar and the green swings are similar. The last green swing is not complete as it is not yet evident whether it is going to turn down or continue. Identifying swings in such a fashion also helps to identify relevant pivots. Otherwise one can get bogged down trying to determine which pivot is significant or utilizing any pivot just to satisfy one's predetermined perspective as opposed to an objective perspective. Keep in mind the gray line beneath. image

Other constructions can help. Wide Range Bars or even WRBs are used in other methods. Here WRBs which are openings help. They're significant because they identify where buyers or sellers made a significant move. Don't make the mistake of using these as supply and demand traders may use them. The source of them is not always a sure thing for trading. Understanding the total market and it's construction will decide whether or not to trade those regions.

EUR/USD 15 min. A small lazy to go into lengthy explanation but maybe the chart is enough.