Andrews Pitchforks come in two varieties - Standard and Modified Pitchforks.
Standard pitchforks take the slope from point A through the midpoint of points B and C. The slope of that center line makes up the slope of the lines projected into the future from points B and C. These are excellent for more gradual trends as the trend often continues at this pace and gives many trend and trend reversal trades.
You want to buy the lower lines and sell the upper lines!
In this example you can see the Standard Andrews Pitchfork had a perfect sell signal at the first high and the market while continuing up later could not meet the steep slope of the initial move.
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Modified Andrews Pitchforks take the slope of the midpoint of A and B through the midpoint of points B and C. When the slope of the first move up or down is too steep, the market is unlikely of continuining that strong of a trend into the future, thats when you want to use a modified Andrews Pitchfork.
In this example you can see the Modified Andrews Pitchfork did an outstanding job of tracking the uptrend into the future. There were two sells at the upper levels, buy at the first pullback to the center line, and two buys at the lower trend levels.
5 Trades, 5 Wins = 100% Successful and caught 50+ pips!
Please view our Hypothetical Results Disclosure and LeverageFX Disclosures
Linear Mode
