DislikedForks and Fibs are nothing but lines describing overall what price is doing. Relying on them as triggers for trade entries in the long term will probably be frustrating. Price has been bouncing between the lower median line and center line and washed/rinsed April 14 and continued up forming a "V" structure which is important for future trading. After the wash/rinse price "swapped" a few times (white boxes) and may have provided a few buys depending on one's entry strategy. {image}Ignored
Hi Winston, thanks for your view
You have a differant median line to mine, but I notice both of ours are projecting a downtrend.
I have been studying median lines for approximately 1 month, but I honestly don't think my median lines drawn were invalid, and the yellow median line set was in control and had been previously tested too. My understanding is that when an energy point comes and price hits it, price will either have a strong reaction to it and bounce or price will plow through it. Taking the direction of price into considering it was my opinion that price would bounce there ....and tbh it did somewhat before several bars later blowing through. I took that position on my real account. I shouldn't lol and have gone back to demo. Also I am wondering if there are certain times with this method we should not take trades, I see no mention of this? I took this at gmt night time. does this method of trading call for trades only to be taken during London/FF/US trading hours.
I'd agree with you thought that you can't just wack on a median line everywhere and take positions each time price touches it and expect to be profitable. Currently after my first month on demo I ended the month in actual profits but tbh this may have been down to luck because by the end of the demo most trades were failing as tbh it seems like that was what I was doing. This prompted me to study harder ...and I saw the reason a lot of them failed. The hardest thing about this median line stuff imo is finding a valid C. The ones I took that did work out well I decided to study them and noticed they tended to be forced pivots [previous price reaction in that area] and the actual pivot structure was similar to how greg fisher briefly describes how to draw them in his free book. I decided to buy gregs full book. It went into a bit more detail about the pivots and gave more examples which helped me clarify his actual method of defining pivots as before i noticed there was some situations where i wasn't sure what he would do. Other than though i'm not really too sure if greg fishers material by itself has enough to actually be profitable. There was little to nothing or where to actually initiate orders.
I studied more of tims material too, and tbh I prefer to take positions when both tims conditions and gregs have both been fulfilled. I am not even sure I know all tims conditions tbh as I only have access to the free material. I notice you say that you don't think there is enough free stuff out there to be profitable. You may be right on that, I guess time will tell. I didn't get a whole lot out of the free youtube videos tbh, but the CME videos I found quite educating ..and feel like quite a few pieces of the puzzle are to be found there. Again, I'm not really sure if it will be enough to be profitable though, I may end up needing to buy access to tims site.
I am a bit confused tbh over what timeframe to use. Sometimes an entry is valid on h1 or h4 ....but it's just that h4 will have less bars till the median line is reached. I took a eur/usd h1 entry a few days ago [long] ...and looking at pricing structure it met my conditions on h1, but not on h4 ... so i took it on h1 basis even though given the large gap from MHL to median line you would think h4 would be the most suitable timeframe to use. My demo account then ended [30 days had elapsed] and it threw away my position unfortunately. atm price has made good progress to the upside....., however if we use tims method of trailing each swing lows with a stop I would have got stopped out on h1 with around 1:3 RR ...but if I had trailed each h4 swing low with a stop I wouldn't have been stopped out yet. So what timeframe to use and on what timeframe to trail swing lows is a bit confusing imo