Trading with Median Lines /Andrew's pitchfork

[Kavima]

Hi SG

I'm not sure I've understood yr query

 

[SavantGarde]

Hi Kavima,

Let me try explain..what I meant....on the Pitchfork....the two parallel lines that are drawn from the shoulder which is what we are seeing on the charts posted by you....What I am talking about is a parallel deviation creating another parallel lines....

Let me see if the Pitchfork is their on MT4 will post a chart for your perusal...because my normal..software is on a computer which has been out of wordk...for several months now...or else I could have posted a chart...for your reference and comment.

SG

Hi SG

I'm not sure I've understood yr query

 

[murthyavr]

Hi SG

I'm not sure I've understood yr query

Kavima:

I think SG meant the warning lines..

 

[Kavima]

Hi Kavima,

Let me try explain..what I meant....on the Pitchfork....the two parallel lines that are drawn from the shoulder which is what we are seeing on the charts posted by you....What I am talking about is a parallel deviation creating another parallel lines....

Let me see if the Pitchfork is their on MT4 will post a chart for your perusal...because my normal..software is on a computer which has been out of wordk...for several months now...or else I could have posted a chart...for your reference and comment.

SG

Hi SG
I think as Murthy mentioned if it's warning lines you're referring to , let me explain when they are used.

The Median line method has the concept that price will move forward on a path with a mathematical relationship based on the earlier swing move and the median line set will provide the support and resistance levels. When 3 significant points where price has changed direction are chosen and a median line drawn from point A through 50 % of line joining point B and Point C, the probabilities of the price move from Point C has been described with 4 rules ...see posthttp://www.traderji.com/advanced-trading-strategies/59403-trading-median-lines-andrews-pitchfork-5.html#post607742
From what I have learnt on reading and applying this concept ,this method identifies support / resistance zones where high probable reversal / breakout can occur and combining with additional confirmation like stochastics or any other momentum indicator, daily pivot levels we can project entry and exit levels.
Coming to warning lines, the lines are drawn when the price moves out of the Current Pitchfork, either on the upside or downside.When this happens , parallel lines are drawn at a distance equal to the 50 % range of the current pitchfork.These lines have the same properties as upper median line parallel / lower median line parallel ie they will also act as resistance / support levels when price meets them.It is similar to range expansion.
In fact today's nifty chart, the warning lines have been drawn to estimate the price move expansion from the initial PF drawn.Adding a link to the post.

http://www.traderji.com/futures/53485-nifty-entry-exit-target-levels-median-line-charts-22.html#post616800

 

[SavantGarde]

Hi Kavima,

Yes as Murthy put it it is the warning lines I was asking about....

Thanks To Murthy...... for pinpointing.

Million Thanks to you for taking time out to explain in such a lucid fashion...

SG

Hi SG
I think as Murthy mentioned if it's warning lines you're referring to , let me explain when they are used.

The Median line method has the concept that price will move forward on a path with a mathematical relationship based on the earlier swing move and the median line set will provide the support and resistance levels. When 3 significant points where price has changed direction are chosen and a median line drawn from point A through 50 % of line joining point B and Point C, the probabilities of the price move from Point C has been described with 4 rules ...see posthttp://www.traderji.com/advanced-trading-strategies/59403-trading-median-lines-andrews-pitchfork-5.html#post607742
From what I have learnt on reading and applying this concept ,this method identifies support / resistance zones where high probable reversal / breakout can occur and combining with additional confirmation like stochastics or any other momentum indicator, daily pivot levels we can project entry and exit levels.
Coming to warning lines, the lines are drawn when the price moves out of the Current Pitchfork, either on the upside or downside.When this happens , parallel lines are drawn at a distance equal to the 50 % range of the current pitchfork.These lines have the same properties as upper median line parallel / lower median line parallel ie they will also act as resistance / support levels when price meets them.It is similar to range expansion.
In fact today's nifty chart, the warning lines have been drawn to estimate the price move expansion from the initial PF drawn.Adding a link to the post.

http://www.traderji.com/futures/53485-nifty-entry-exit-target-levels-median-line-charts-22.html#post616800

 

[Kavima]

Weekend post

Just picked out the daily chart of DLF and charted out the trend and probable trades. notes in the chart are the analysis I would do with this method.
For short term trades finetuning of levels , hour charts / 5 min charts can be used.

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[trade4joisar]

Can you look at Natural gas chart & comments on S&R please?

 

[Kavima]

A link to webinar "Learn to use Median Line and Pitchfork trading techniques " By Timothy Morge...Will give you a clear introduction to this method and its principle concepts

https://connectpro58377496.adobeconnect.com/_a816688188/p36392816?launcher=false

 

[krishere]

SG Thankyou for referring me to this....

and kavima ofcourse thankyou for putting this up.... :clapping:

A link to webinar "Learn to use Median Line and Pitchfork trading techniques " By Timothy Morge...Will give you a clear introduction to this method and its principle concepts

https://connectpro58377496.adobeconnect.com/_a816688188/p36392816?launcher=false

 

[krishere]

Hi Kavima...

First of all Im completely blown-off by your analysis...... Completely amazing..... You must write more of this stuff to teach is in more in-depth abt ur analysis.... well I am posting two charts here..... I have decided the pivots based on Stoch as suggested in one of your earlier posts.....

Hourly:
What do you think should nifty follow the more recent Up-Sloping-GreenPF or the old-downsloping-dashed-red-pf???

Daily:
Again the same question should nifty follow the more recent down-sloping-redPF or the old-upsloping-deshed-greenPF.....

I know I have been following your other thread where you analyse nifty daily... but then thats a lil complicated... If you were to suggest me a trade based on such simple system, maybe we can add some simple stuff like pivots and all... how would you ask me to analyse the charts....

pls do suggest for both hourly and daily..... maybe i am asking for a lil too much... but sure look forward to your teachings....

tx
krishna.