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Pivot Point Lounge RSS Feed

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Moderators mick Bertsllc goldengirl333

 

http://www.marketmasters.com.au/74.0.html

 

 

The following is a Market Analyst chart of the Dow Jones futures contract.

If we examine the two upward-sloping pitchforks, each has a pivot point low labelled ‘A’, a pivot point high, labelled ‘B’, and higher low point (than ‘A’) labelled ‘C’. To construct an Andrews Pitchfork, we do the following:

  1. Find the mid point of Line B-C.
  2. Draw a straight line from point ‘A’ to the mid point of Line B-C.
  3. Draw lines from Point B and from Point C parallel to the median line that runs from Point A through the mid-point of Line B-C.
  4. Draw additional lines parallel to these at equal spacing (as has been done here) or from pivot points.

Remember: The computer was given the points ‘A’, ‘B’ and ‘C’. It did not know what market action to expect after Point C was in place. Despite this, the pitchfork lines gave an excellent indication of the market action in advance, according to Dr. Andrews’ rules.

Use of the Andrews Pitchfork

In essence, there are two uses of the Andrew’s Pitchfork. The pitchfork can be used to forecast market turning points, and it can be used as a channelling tool for support and resistance purposes.

Dr. Alan Andrews states in his course that there is a high probability that:

  1. Prices will reach the latest ML [Median Line];
  2. Prices will either reverse on meeting the ML or gap through it;
  3. When prices pass through the ML they will pull back to it;
  4. When prices reverse before reaching the ML, leaving a ‘space’, they will move more in the opposite direction than when prices were rising toward the ML.
  5. Prices reverse at any ML or extension of a prior ML.

(Andrews, A. H., Action-Reaction Course.)

In a sense, the Andrew’s Pitchfork appears to put the market on train tracks. This gives the trader an excellent indication of where the market is likely to be heading, and an indication of its strength.

Members of the Society of Technical Analysts of New Zealand (STANZ) may recall me discussing the market action of the All Ordinaries Index on an Andrew’s Pitchfork at a presentation I gave in October 2000. When I returned to address STANZ members again in August 2001, the market was still holding the same pitchfork lines some 10 months later!

 

Conclusion

There are many excellent technical analysis and trading tools that one can use. The Andrews Pitchfork is one of the best-kept secrets. Many people give it a cursory glance and dismiss it as being too simplistic. Sadly, by not giving it a thorough trial, they fail to realise just how well the market respects the pitchfork lines, and how valuable this can be in trading.

[This article was reprinted with permission from the Australian Technical Analysts Association Journal, July/August, 2002.]

DISCLAIMER:

Every effort has been made to ensure that the content and conclusions presented in MasterStroke are complete and accurate.

No part of MasterStroke contains trading advice - stated or implied, nor is an invitation to trade. The directors and associates of Market Masters Pty Ltd are NOT licensed trading or investment advisors. Market Masters Pty Ltd is an organization designed to assist traders and investors to become more knowledgeable and independent.

The giving of advice is therefore contrary to the very objectives of Market Masters Pty Ltd.

Traders requiring trading or investment advice should contact a licensed advisor. Stockbrokers and futures brokers are licensed advisors.

Neither Market Masters Pty Ltd, nor anyone else involved in the production of MasterStroke, will be liable for any liability, loss or damage directly or indirectly caused, or believed to be caused, by MasterStroke.

Traders, to be successful, must take full responsibility for their own actions.

With respect to trading results, past performance is not necessarily an indication of future performance.

By maintaining your subscription to MasterStroke, you acknowledge that you understand and accept the contents of this disclaimer.


 

 

 

A common place for Moderators of boards to exchange information and ideas. Links to all boards of active posting Mods will be included. If your Board is listed, the only request is to add a link to The Pivot point Lounge from your board that is easily accesible for posters...

MBOT

 

Bottom Play with Forward split stocks only

Calcitech ( A Green Dream )

Carbon Credit Stocks.pk  ( A Play in 2010 and Beyond ? )

Cisco's Stock Family (Cisco's board just go there...MBOT)

Classifieds (You got skills? click here)
So Anyone looking fer a Name or Company can be found here;
http://www.zoominfo.com/

F.D.A LINK; THIS IS AN IMPORTANT ONE.
http://www.clinicaltrials.gov
 

MONTHLY VOLUME REPORT;
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=grww&SortBy=volume&Month=2-1-2010&IMAGE1.x=14&IMAGE1.y=5y 

Off the Radar

Off the Radar.pk 

Off the Radar.bb

Off the Radar.Nasdaq

Off the Radar.Amex

Off the Radar.ob

Off the Radar.NYSE

Peeps   ( Hmmm ! )

Penny Stock Tips (Compilation)

Slap the Ask  (.0001 to $100, Slapperz only! )

$tocks and $hots

The Stock Lot (Stocks and good times)

Traders of the Caribbean

Found these....



 

COLOR BLIND.
[-chart]stockcharts.com/c-sc/sc?s=bhwf&p=D&yr=0&mn=3&dy=15&i=p47868087965&a=173461334&r=537[-/chart]


20 50 200MA,,,VOLUME - PPO - CMF - SLO STO % PRICES.
[-chart]stockcharts.com/c-sc/sc?s=bhwf&p=D&yr=0&mn=5&dy=0&i=p45212469049&r=6823[-/chart]

hippy dippy chart
[-chart]stockcharts.com/c-sc/sc?chart=cbai,uu[w,a]dhcly[da][pb2][j20444984,y]&r=3555[-/chart]  

RIGATONI --- rigs;one year, 50ma-200ma,RSI,MACD, VOLUME. 
[-chart]stockcharts.com/c-sc/sc?s=idcn&p=D&yr=0&mn=12&dy=0&i=p01265665394&r=5025[-/chart]

cha-ching --- CC,  6-mos---cci[20]ema[7],cci[70]-ema[20]50ma-150ema-200ma, volume, william %
[-chart]stockcharts.com/c-sc/sc?s=tytn&p=D&yr=0&mn=6&dy=0&i=p53376685481&a=171265373&r=225[-/chart]

5week MA---10week MA---20week MA
[-chart]stockcharts.com/c-sc/sc?s=AMHI&p=W&yr=2&mn=0&dy=0&i=p48043852022&a=148869965&r=3047[-/chart]
10week MA----20week MA
[-chart]stockcharts.com/c-sc/sc?s=amhi&p=W&yr=1&mn=0&dy=0&i=p76833891969&[-/chart]

2ma-5ma-50ma-200ma-bb with several trendlines. ----kens charting.
[-chart]stockcharts.com/c-sc/sc?chart=popn,uu[w,a]dhclyiay[db][pb2!b5!b50!b200!d20,2][iut!uo8!ub5!ua5,15,10!uv8!lk9!ll5!lc15!up5,5][j20444984,y]&r=3555[-/chart]
http://www.investopedia.com/terms/h/hammer.asp --- Explanation Formations.

IVAN - Point and Figure with 360-520 size
[-chart]stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=ivan,pstgdanrbo[pa][d][f1!2!!!2!20]&pnf=y[-/chart]
[-chart]stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=ivan,plamdanrbr[pe20,2!a][d][f1!2!1.0!!2!20]&pnf=y[-/chart] 

 

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