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Andrews Median Lines 101403

back to Andrews Pitchfork

  • Started the day with Median lines RED, Hot Pink , Black. Others also not shown. 
  • Bar 1 gap down , Black up sloping Andrews no longer containing price becomes less useful .
  • Bar 3 after  we have confirmed MSL. Draw in Blue median lines. 
  • Bar 4 price reaches 80% success target of ABC. 
  • Bar 6 retest Blue more important for short is retest Hot Pink down sloping median lines that's a short on close. Main triggers are short down sloping median lines- resistance and long up sloping median lines support. Can do reverse but other factors involved.
  • Bar 8,9,10,14,15 and 16 all retest Blue LML, all trigger long on close
  • Bar 17 target 1
  • Bar 18, 19 ,20 all retest Blue ML  and all triggers long on close. I prefer LML to ML unless much bigger median lines.
  • Last target awaits

 

Footnote: EOD Monday. I was explaining some median lines stuff to Enthios online while trading. As the middle white candle closed I told him that's a retest and a short but I'm already long little time left and hope the boys run it up more. The median lines shown I should redraw, move to pivot high. I am showing my thinking as market opened made sense to me it gapped down  and was a good short.

A few more median lines added showing bigger picture and smaller with additional targets and also LML of support.

Remember you have 15 minutes between bars so  lots of time to try different median lines to find those that describe price well. When trading off a 15 minute charts you have 26 bars during the day to form 26 decisions about price. On 3 minutes 78, 1 minute 236 and tick charts can be much more. Higher timeframe charts are a great place for newbies and oldies to begin and continue their studies. More time to think then react, opposed to react react react. If you are trading every twitch of stoch, RSI , CCI etc their are so many opportunities as well as so many hazards until mastered. 

 

 

 

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