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Re: Andrews Pitchforks
Here's a valuable tip I just picked up from a free lecture by Tim Morge. He explains the proper use of Schiff and modified Schiff forks. See attached chart. To wit, you use these alternate calculations when you see a near-vertical move from A to B. If you try to use the traditional calculation, you'll find that the resulting pitchfork does not well-describe the price action, because the vertical move has thrown off the usual ebb and flow of market energies. Hope this is helpful.
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