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Re: Andrews Pitchforks
Froggy,
I think pitchforks work better in futures markets. Why? Because they tend to swing more (trend less) and are volatile. Any market that seems to "swing" more than trend is a pitchfork market.
In trending markets people use the pitchfork as a channel type tool. It seems to work alright, but I think drawing channels is just as effective. The pitchfork is designed to use market geometry to locate price targets.
Trending markets will accelerate as trend matures, and this means that pitchfork will not work so well (unless you like bent pitchforks, maybe for farmers in San Fran.). In trending markets, fanning channel lines is the best.
Just my 2 cents, hope that helps.
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