thanks ammo.... gotta roll up my sleeves and get to work... I am following along as well... good thread..
I got that book by Dologa, and was pretty disappointed by it. He makes a simple concept very complicated, and clutters his charts with so many lines, and indicators that you can't make sense of anything. I keep it as simple as I can. I like to combine fibs with my forks for a few reasons: 1. Fibs offer a different view of where s/r levels are 2. Price respects fibs 3. Fibs are good to see where price can go by looking at the extensions I have momentum on charts, but I don't really use it. ---- Tim Morge is the best. Check his site marketgeometry.com for his free fork seminars that he does once a month.
Yah, soo many tools soo many methods, the combinations are endless,I find it very annoying and a long process to filter out the noise. I don't use indicators, just primarly am trying to focus on price action. Dologas book is very dfficult to read, i dont know if its a doctors thing to confuse the living shit of you on purpose or inadvertently. I wanna focus on price action for now, I am exploring Renko charts and Point and Figure charts along with fixed volume charts. I use ninja trader but am considering getting multicharts.Pitchfork is interesting since I wanna see how effective it is and if I can use it in price action analysis.
forks seem more popular among fx traders. Here is a fork thread that I attend on forexfactory.com http://www.forexfactory.com/showthread.php?p=3474464#post3474464
TXN. Been watchin this one, and its had a nice retracement up staying within its fib levels. Even though we're not at the upper fork line, we are at a resistance point on the forks called a "Sliding parallel" as marked by the two ligher shaded black lines. Price shows its still trading inside the green fork, but on a daily its been broken.
TXN on a daily chart. Here you can see the break of the green fork, and the purple fib levels holding. I'd like to see a double bottom of at least 22, to a fib t1 of 20.67