[RT] Re: Andrew's Pitchfork / Median Lines on Gold 100oz, RealTraders Email List Archive

Greetings Traders:

This is a 5-min chart on Gold 100 oz. Tim Morge, one of the best in Andrew Pitchfork, used to be on the RT forum and he’s no longer around with us for the pleasure of seeing his great Median Lines setups. I have recently incorporating the use of Andrew Pitchfork (AP) in my usual trading methodology and I find further clarity in regards to the future targets and direction of prices. The chart depicted a situation where it was clearly stated by Dr. Andrews in regards to the down/upside break of Pivot 4 (P0-P4 Trend line Break); a major change in trend should be on its way. Further to support the aforementioned, Hagopian Rule was also applied in this particular situation, when price actions FAILED to reach the steeper AP’s median line. Hagopian Rule spells out: When prices FAIL to reach the most probable Median Line (which should happen 80% of the time); prices should go to the OPPOSITE direction in a much drastic manner; which was what happened to Gold 100oz on 07/22/2008. The second .jpg is the latest update on 5-min Gold 100oz. At the time when the triangle pattern was formed and tested the purple downward sloping AP four times; US Economic Data was coming out leading to the sell off. Price actions violated the Red Upward sloping AP but stalled right at the Sliding Parallel (or warning line) of the Red Upward sloping AP. A retest of the Sliding Parallel or a Ross Hook was provided for a long position. As of the close on Friday, 07/25/2008, the Red and the Sea Green Upward Sloping APs are currently describing the future course of Gold 100oz. Take care.

Have a good one

Jeff Harteam