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Nifty Vs Andrew Pitchfork tool
25 November 2009
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Dr. Alan Andrews developed a channel technique to show areas of support and resistance from a baseline. This use of a median line is the key to using the Andrews Pitchfork. Buying near lows and selling near highs that are identified by the "tines" of the pitchfork. The basic premise is to trade the channel from one level of support or resistance to the next.
I had drawn the Andrew Pitchfork trend line for Nifty. The above two charts shows how andrew pitchfork acts as support/Resistance zone both in the bull and bear market. And how we could find a High profitable trading
oppurtunifty in the market.
Here some quick reference available from Corey Rosenbloom's Blog
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This is one of the best chart i have seen and this is the first time i have seen Andrews Pitchfork method being used on Nifty chartgreat work !!!
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