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Action-reaction Andrews describes his application as the median line method. For each action, there is an equal reaction. 9: Construction of the median line. From a previous reference, high or low point, draw a line through this midpoint. 11: Median line showing support and resistance. The median line is a resistance and support line.
12: Price not touching the median line will push price in opposite direction. The Pitchfork After calculating and drawing the median line, Andrews added two additional lines parallel to the median line, from the points B and C. This created parallel lines above and below the median line. Prices tend to move for some time within this pitchfork channel, similar to a trend channel.
Like in a trend channel, prices find support and resistance at the lower and upper side of the pitchfork channel. 14, you will notice that the price will move regularly to and within the boundaries of these warning lines. If price does not reach the median line we know to what level it will move next as a minimum. Additionally the outer lines of the pitchfork are quite effective as a trend channel giving us upper and lower boundaries for future price moves. Find a Stock ticker symbol, enter the ticker and find a chart, news, fundamentals and historical quotes. Risk Disclosure: Futures and forex trading contains substantial risk and is not for every investor.
An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below.
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