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Andrew's
Pitchfork
Description
Andrews'
Pitchfork is a line study consisting of three
parallel lines. The
lines are drawn from three points that you select.
The
three trendlines are drawn as follows:
The first trendline begins at the left-most
point selected and is drawn so it passes directly
between the right-most points.
This line is the handle of the pitchfork.
The second and third trendlines are then
drawn beginning at the right-most points and are
drawn parallel to the first line.
These lines are the tines of the pitchfork.
Interpretation
The interpretation
of a Pitchfork is based on normal trendline
support and resistance principles. |
