Pitchfork

[Konviction]

They work. They're a leading "indicator" that has a mathematically prooven chance of hitting the median line 80% of the time.

 

[Konviction]

GENZ weekly

 

[Pat494]

I will have a read up this weekend on pitchforks.
Thx for the chart but I don't see what it is telling you. Perhaps you could explain a bit more. Sort of channels ???

 

[bedsit]

Yeah - it's a lovely tool.
Any links to free explanation about set-ups? - I prefer to learn about that sort of things for free.

PS As I posted this yesterday, maybe there is no such thing (as a free lunch or a free pitchfork presentation):?:

 

[Konviction]

If you want to learn more about forks go to http://www.marketgeometry.com/ Tim Morge is the leading trader id say in the world who teaches how to trade these.

Yes, basically it is a channel. The median line (center line) is also called the "line of force", meaning we can expect price to hit this line at some point during the trend, and according to experts, this will happen 80% of the time.

Newton's laws of motion says that "for every action, there is an equal and opposite reaction"...this is what forks demonstrate. If you look at the chart of GENZ, you can see that it tested the lower fork about 5 to 7 times, and almost each and every time, price went back up and tested the center line.

 

[Konviction]

The best thread on forks is here at http://www.forexfactory.com/showthread.php?t=76597 . I also have a thread here http://www.elitetrader.com/vb/showthread.php?s=&postid=2726972#post2726972 where I post many examples for forks.

 

[Konviction]

Here is FSYS on a daily, and in this case, so far both forks are being respected.

 

[Pat494]

Hi,

Has anyone got the Metastock code for pitchforks ?

 

[Konviction]

Took longs on both WYNN and BA today among some others.

 

[Konviction]

Why is this thread so dead all the time? I guess most people havn't yet discovered their amazing power. Sigh.

 

[bedsit]

Why is this thread so dead all the time? I guess most people havn't yet discovered their amazing power. Sigh.

That's a shame.
I use pitchforks from time to time. Sometimes they pinpoint turning points precisely.
Only thing is to know how to set them accurately – still experimenting with which extremes are important and which should be ignored.

It would help if there was a successful pitch forker posting some charts and examples (which points to take for a fork)

 

[FX4Newbies]

Hello Bedsit,

In response to your comments, I post charts with Pitchforks here in a thread called Goldmine! I follow the EurUsd...with some explanation...maybe this will help you.

Take care,

That's a shame.
I use pitchforks from time to time. Sometimes they pinpoint turning points precisely.
Only thing is to know how to set them accurately – still experimenting with which extremes are important and which should be ignored.

It would help if there was a successful pitch forker posting some charts and examples (which points to take for a fork)

 

[Konviction]

AMZN lookin good for a short setup.