September 2013
Beginner to intermediate
432 pages
11h 40m
English
book
Breakthrough Strategies for Predicting Any Market: Charting Elliott Wave, Lucas, Fibonacci, Gann, and Time for Profit, 2nd Edition
by Jeff Greenblatt, Dawn Bolton-Smith
Content preview from Breakthrough Strategies for Predicting Any Market: Charting Elliott Wave, Lucas, Fibonacci, Gann, and Time for Profit, 2nd Edition
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CHAPTER 11
Andrews Pitchforks Crash Course
This really is not a book about pitchforks, but in the next chapter I have several examples using the pitchforks that have become an important tool in our newsletters over the years. Without you having to get another book just to understand the pitchforks I’m going to give you a crash course and bring you up to speed.
It took me years to get interested in the pitchforks, yet they are included on just about any software package you can think of. Most traders are also aware of the pitchforks, which are also known as median channels, but when asked why it isn’t a regular part of their game plan, the answer I hear most is, “I don’t know.” I think the real reason is it is a mysterious discipline that requires careful study and there are only a handful of great instructors in the world. The other reason is people really don’t understand how to draw a pitchfork properly.
We believe the best use of a pitchfork is as a GPS navigation system to understand the pattern. For example, look at the following YM chart in Figure 11.1.
How difficult is it to navigate the pattern on this five-minute YM chart? It certainly isn’t easy. But look at the next chart and cloudy becomes clear and uncertainty becomes certain. Do you think this method can help you understand the pattern better?
FIGURE 11.1 YM Five Minute
We believe the median channels are an indispensable ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.