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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: coug who wrote (9745)	12/8/1998 10:14:00 AM
From: SE	Read Replies (1) \| Respond to of 44573

Picture complete, but for my own part, always looking for higher prices to short....I would like 88.00 at least. That way a four point stop is above yesterday's high of 91.75.

To: coug who wrote (9745)	12/8/1998 10:26:00 AM
From: SE	Read Replies (1) \| Respond to of 44573

Recieved the following from Chip yesterday regarding his use of the fork during the day for day trading. I compared the SPX and SPOO charts with the fork and offer my comments headed by SE: <comment>. I hope this is instructive for the thread. -Scott ----------------- Scott, Found the GZ description of forward time analysis Message 6496204 . So....from the point of drawing the middle tine [off some high or low] through to the point of bisect can be measured in days, minutes, etc Take this figure and go forward...from the bisect of price and at this point expect some distinct movement. In our case we had a 10:15 low on the spx that eventually formed the major forks of the day. This middle tine then lasted most of the day..... It bisected a drop that started about 11:45 at 1182 and droped to 1177 by 12:00 noon. SE: THe fork drawn was the SPX fork. It worked very well all day. When I translated it to the Mini it did not work as well. There were violations of the lower channel, but those violations followed a parallel line to the bottom tine and that held rather well. The upper tine of the SPX fork contained prices, whereas the middle tine of the Mini fork contained the prices. SO>>>>take this time span and carry it forward...that forward projection matches almost exactly the point at which the major move up occured at 1:00 pm. iqc.com. . Take a look....the last low of the day was 1178 right at 1:00pm. That was the breakout projected by the forward time projection. Add to this....the point was also at or near the lower tine of that fork and one then had a stronge confirmation of entry. SE: The time frame was right on for the SPX, and a touch off for the Mini.... I purchasd the 2nd contract at 11:45 - early, I certainly would have purchased at this point and could have added a third. This was repeated at other times throughout the day. Remember - Andrews Pitchforks clarify entry and exit points. It limits the down side risk and most importantly allows a position to run with some confidence at controling the losses. I hope this is clear..? Chip SE: For anyone looking at forks I suggest printing out the SPX yesterday and either the SPOO or the Mini in a two minute time frame and drawing the intraday forks. I think there is a good probability that the intra-day forks could better define entry and exit points. Based on yesterday's work, I will be looking at both the SPX and SPOO charts to draw intraday forks and project prices. SPX appears more solid as the PREM swing affects the SPOO fork. The bottom tine of the fork mentioned is at 1185 SPX today. It will be interesting to see if that number repels prices and sends us downward today. That is my bias for the day, BTW.