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> VonHef wrote:
> .........................if any of you use
> "Andrew's Pitchfork" in your speculating? I have posted a chart
> below with an example. Is this the correct usage or would you
> choose different points for the pitchfork?
Hello Adam--
My experience working with Pitchforks suggests that you have to find the
best fit that prescribes the channel the market seems to be moving in.
This takes some trial and error. Several pitchforks can be placed on
the same graph as the market unfolds. Time leads you to see the
validity of one against the other. When the market seems to change
trend, look for a fork to be drawn back to the ascending path, even
while you retain the descending one. If you have captured the channel
correctly, look for the market to bounce off the Handle or Median line
back to a Tine, or to break one level and then move to another. Below
is attached another possible placement on the current S&P chart.
Mark Scheier
Attachment Converted: "c:\eudora\attach\spfork61499.gif"
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