Just take a minute and study this chart. Price has often the tendency to morph from a minor structure into a major one. However, there are similarities and we can find them out by understanding the connections between the movements of price. Study the chart peace by peace and you will learn more then if you read a new book about a new trading...
Video Nr. 1 I explain the quick principals of the Pitchfork and how we use it. Parallel to the educational benefit, you get the analysis of the NQ and a good feeling, where we are in the whole big picture. If you like to learn more about the Pitchforks and how they produce great trades, then here's how you can get your free course: 1. Klick the link at the...
Nesta and I were throwing some projections on to gold, backtesting something we had looked at with the upward trend lines because I have noticed when I drop the trend lines on, the angles seem to follow some very fibonacci-esque ratios. So we decided to backtest with the pitchfan and see what we saw. Very interesting stuff.
The yellow Fork describes the current most probable path of price. Forks are great, indeed. And adding details to the chart is like seasoning a sauce. So here we have our ingredients. See the up-sloping red lines? Know what's their job? Well, they describe the amplitude of the sine-wave within this down-swinging market. The last one...watch the last one...looks...
Hey, want to learn something today? OK, participate and answer the following question: Which is the most probable target and why? 1 - white Centerline 2- yellow Centerline 3 - white U-MLH (Upper-Medianline-Parallel) 4 - yellow U-MLH (Upper-Medianline-Parallel)
Right side of the chart: See how it broke the last time? There was a retesting at the L-MLH (white) going on. Then in the middle it pierced the upsloping orange, dotted Pressure-Line. Now, compare it to the actual situation... One of my coaches in the earlier days always told me: "Before you cut meat, you must sharpen your knife". In Trading the Grindstone is...
Many weeks ago, I freshly published this chart. I wanted to make a longterm project out of it. The idea behind this chart is, to show you LIVE how pure Action/Reaction works - and that it's not a mystery, fake or something "balloonie". Here you have 5! reactions in a relative short period of time. Let's go through them right now: 1 Overshoot and fall back...
My rules for Pivot & Swing Highs/Low says: If a H. is broken, the L. is confirmed. If a L. is broken, the H. is confirmed. Just with these simple rules one is able to enhance his ability to analyze markets dramatically. Like these information? Watch the footer where the links are placed. P!
In this chart you see a Fork that seems to work great. The touches at the lower medianline parallel are perfect...but it's a self-deception if you use the Forks this way! Don't try to fit the market into your tools, never never! And why?...because you get faked information, leading to wrong decisions, leading to bad trades and to bad losses. What you need...
Howdy everyone On the top left you can see the rules for trading with Forks. Your Christmas Challenge: Which rules apply where on the chart? Mark the rules in the chart and screenshot it into my Chat:"ForkTrading Method". Wish you all a super happy Christmas time. P! Emilio
GBP/JPY just triggered a Hagopian signal, which calls for a rally to above 153.41. I'm sure you are thinking, what is a "Hagopian" signal? A Hagopian signal is triggered, when price doesn't trade to the pitchfork mid-line as it should do 80% of the time according to Dr. Andrew's. This failure is a warning that the decline (in this case) is weak and a opposite...
Daily with the +0.25% move up after the test of the lower parallel. Update of
Too many traders see harmonic scans as black or white, trade or no trade, winning trade or losing trade. Exact same with forks. Sometimes, they work off each other. If I catch a scan in a fork, great. But THE BEST forks are often drawn AFTER the scan ... as the scan's swings are very significant, and using them to align a fork will almost always give-up pips after...
Many traders think pitchforks are used to only identify the trading opportunities inside the fork. While they do that, they also serve as future trade set-ups. Forks are created out of Fibonacci relationships (SH-SL / SL-SH) and thus are Fibonacci-energized. As you can see, S&R that the fork points out, remains AFTER the fork is breached. :)
SNAP is showing a nice example, how the ForkTrading can catch the markets path. Not only are the Forks a great way to identify the highly potential trend continuation, but also catching the "frequency" of the markets. Watch this chart closely and observe your thoughts ;-) Happy new week to all P!
The power of Fibonacci n"ver stops. A harmonic scan often generates strong pitchforks due to the level of "Fibonacci-ness" in the primary swing. The advantage of the fork being that it goes beyond what a trend line can do, in that it projects predictive bounces where trend lines cannot yet be drawn. In this instance (and yes, they don't always work ... but then,...
Drop starts and stops in Best-Fit fork. Additional floor support by Camarilla L3 and 261.8% Fork-Fibo
Here's a pitchfork on TSLA that has a different point 1 but the same point 2 & 3. Both seem to have resistance and support effect on price action.