Goldmine!

4xpipcounter · Jun 13, 2010, 2:49pm

I use the MT4 and can't seem to find the pitchfork. I tried another set of charts and coldn't find it there either. Could you direct me to a site that has it? I'm more interested in experiementing with it on a demo just to see how it works. I know a fwe that use the pitchfork, and they seem to be sold on it.

Quote:

Originally Posted by FX4Newbies

Hi again,

The Pitchfork is really a trend tool, but also shows countertrends...The basis for how it works is Newtons' Third Law...for every action there is an equal and opposite reaction. Every 3 alternating pivots that form a pitchfork tell a story about price. It's really a marvellous tool once you understand how to apply it.

Countertrends can be signaled when the outer parallel lines are broken. Just some amazing stuff...

Take care,

FX4Newbies · Jun 13, 2010, 3:01pm

Hi 4xpipcounter,

You can find it on MetaTrader under the Insert Tab...down toward the bottom...Andrews' Pitchfork.

Have fun!

Quote:

Originally Posted by 4xpipcounter

I use the MT4 and can't seem to find the pitchfork. I tried another set of charts and coldn't find it there either. Could you direct me to a site that has it? I'm more interested in experiementing with it on a demo just to see how it works. I know a fwe that use the pitchfork, and they seem to be sold on it.

4xpipcounter · Jun 13, 2010, 10:29pm

All the time I've been trading on MT4 and I noticed it being there. I'll start playing with it. Thanks for your input and help.

FX4Newbies · Jun 14, 2010, 6:03am

No problem. The Pitchfork tool on MT4 is very easy to apply. Once you select the tool, you simply click on the pivots you have selected for the fork...Point 1 then 2 then 3...the cursor actually shows which pivot is being plotted. Once you click the last one, the fork appears. Please note that the line of force from 2 to 3 is not shown. Other platforms have the option to show that line or not.

Tell me how you like it once you see it in action some. There are many related lines and concepts to gain the maximum benefit, but just seeing how price respects those lines is interesting to say the least

.

Enjoy the day,

Quote:

Originally Posted by 4xpipcounter

All the time I've been trading on MT4 and I noticed it being there. I'll start playing with it. Thanks for your input and help.

FX4Newbies · Jun 14, 2010, 6:57am

Hello Traders,

A very quiet night for me (London Session). Price was in a very tight range...then came the expected breakout... to the upside. Will post charts later today before the Asian session and then again before the London session.

Have a very busy day. Hope the US session proves to be exciting and profitable.

FYI: The 4-Hr EurUsd chart had shown some bullish sentiment end of last week. We'll see how long it lasts.

Take care,

FX4Newbies · Jun 14, 2010, 7:16am

Hi again,

Morning schedule allowed for a quick post. We'll see if Friday's bullish sentiment will continue. For new pitchfork traders, observe how price reacts when it encounters a fork line (called a tine).

Take care,

Quote:

Originally Posted by FX4Newbies

Hello Traders,

A very quiet night for me (London Session). Price was in a very tight range...then came the expected breakout... to the upside. Will post charts later today before the Asian session and then again before the London session.

Have a very busy day. Hope the US session proves to be exciting and profitable.

FYI: The 4-Hr EurUsd chart had shown some bullish sentiment end of last week. We'll see how long it lasts.

Take care,

FX4Newbies · Jun 14, 2010, 8:26am

Was able to grab a few pips before having to run. We'll see how the morning plays out.

Be careful.

FX4Newbies · Jun 14, 2010, 12:36pm

Hello again,

Just got back to the office to find that the price did hit the target set.

Will be posting again for Asian session.

Bye for now,

Quote:

Originally Posted by FX4Newbies

Hi again,

Morning schedule allowed for a quick post. We'll see if Friday's bullish sentiment will continue. For new pitchfork traders, observe how price reacts when it encounters a fork line (called a tine).

Take care,

Jun 13, 2010, 10:29pm	#67
4xpipcounter Legendary Member Member Since Jun 2010 1,556 Posts	Re: Goldmine! All the time I've been trading on MT4 and I noticed it being there. I'll start playing with it. Thanks for your input and help.

Jun 14, 2010, 6:57am	#69
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Re: Goldmine! Hello Traders, A very quiet night for me (London Session). Price was in a very tight range...then came the expected breakout... to the upside. Will post charts later today before the Asian session and then again before the London session. Have a very busy day. Hope the US session proves to be exciting and profitable. FYI: The 4-Hr EurUsd chart had shown some bullish sentiment end of last week. We'll see how long it lasts. Take care, __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up.

Jun 14, 2010, 8:26am	#71
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Re: Grabbed a few pips to the upside Was able to grab a few pips before having to run. We'll see how the morning plays out. Be careful. __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up.

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