Comments on: Updated Andrews Pitchfork Insights for SP500 July 28 http://blog.afraidtotrade.com/updated-andrews-pitchfork-insights-for-sp500-july-28/ Helping traders overcome fears and emotions in trading Thu, 09 Feb 2012 14:53:15 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Interesting Convergence to Watch at 10,500 on Dow Jones | Penny Stock Trading System Blog http://blog.afraidtotrade.com/updated-andrews-pitchfork-insights-for-sp500-july-28/comment-page-1/#comment-211380 Interesting Convergence to Watch at 10,500 on Dow Jones | Penny Stock Trading System Blog Wed, 25 Nov 2009 18:58:48 +0000 http://blog.afraidtotrade.com/?p=4383#comment-211380 [...] July 28th Andrews Pitchfork Update [...] [...] July 28th Andrews Pitchfork Update [...]

]]> By: Andrews Pitchfork Bounce for SP500 Update | Penny Stock Trading System Blog http://blog.afraidtotrade.com/updated-andrews-pitchfork-insights-for-sp500-july-28/comment-page-1/#comment-211166 Andrews Pitchfork Bounce for SP500 Update | Penny Stock Trading System Blog Fri, 06 Nov 2009 08:26:59 +0000 http://blog.afraidtotrade.com/?p=4383#comment-211166 [...] July 28th Andrews Pitchfork Update [...] [...] July 28th Andrews Pitchfork Update [...]

]]> By: Andrews Pitchfork Bounce for SP500 Update | Afraid to Trade.com Blog http://blog.afraidtotrade.com/updated-andrews-pitchfork-insights-for-sp500-july-28/comment-page-1/#comment-211134 Andrews Pitchfork Bounce for SP500 Update | Afraid to Trade.com Blog Thu, 05 Nov 2009 17:12:18 +0000 http://blog.afraidtotrade.com/?p=4383#comment-211134 [...] July 28th Andrews Pitchfork Update [...] [...] July 28th Andrews Pitchfork Update [...]

]]> By: Andrews Pitchfork Update on SP500 | Penny Stock Trading System Blog http://blog.afraidtotrade.com/updated-andrews-pitchfork-insights-for-sp500-july-28/comment-page-1/#comment-210801 Andrews Pitchfork Update on SP500 | Penny Stock Trading System Blog Tue, 20 Oct 2009 21:25:06 +0000 http://blog.afraidtotrade.com/?p=4383#comment-210801 [...] July 28th S&P 500 Update (showing the Fibonacci numbers for the Pitchfork which are still valid) June 18th on the S&P 500 (which show the ’standard’ Andrews Tool) May 13th S&P 500 which shows a Downward Pitchfork from the Market Highs [...] [...] July 28th S&P 500 Update (showing the Fibonacci numbers for the Pitchfork which are still valid) June 18th on the S&P 500 (which show the ’standard’ Andrews Tool) May 13th S&P 500 which shows a Downward Pitchfork from the Market Highs [...]

]]> By: Andrews Pitchfork Update on SP500 | Afraid to Trade.com Blog http://blog.afraidtotrade.com/updated-andrews-pitchfork-insights-for-sp500-july-28/comment-page-1/#comment-210770 Andrews Pitchfork Update on SP500 | Afraid to Trade.com Blog Mon, 19 Oct 2009 16:35:43 +0000 http://blog.afraidtotrade.com/?p=4383#comment-210770 [...] July 28th S&P 500 Update (showing the Fibonacci numbers for the Pitchfork which are still valid) June 18th on the S&P 500 (which show the ’standard’ Andrews Tool) May 13th S&P 500 which shows a Downward Pitchfork from the Market Highs [...] [...] July 28th S&P 500 Update (showing the Fibonacci numbers for the Pitchfork which are still valid) June 18th on the S&P 500 (which show the ’standard’ Andrews Tool) May 13th S&P 500 which shows a Downward Pitchfork from the Market Highs [...]

]]> By: Bob http://blog.afraidtotrade.com/updated-andrews-pitchfork-insights-for-sp500-july-28/comment-page-1/#comment-212647 Bob Wed, 29 Jul 2009 12:30:24 +0000 http://blog.afraidtotrade.com/?p=4383#comment-212647 I'm new to the Pitchfork concept and have yet to read up on the topic. <br><br>Looking at the projections, it appears future price directionality and projections are a result of identifying a historic price move (a completed leg) and drawing the slope of that leg, then projecting three lines perpendicular to that slope at the 0%, 50% and 100%. This seems to point at a "reversion to the mean".<br><br>Taking it a step further, you've then added the fibonacci retracement levels parallel to the directionality defined by the pitchfork projection. These levels then function as support & resistance; a sloped fibonacci retracement grid.<br><br>This is an interesting interpertation. The horizontal fibonacci retracement levels have always seemed somewhat out of synch and more a result of charting constraints. I like the new spin! Thanks... I'm new to the Pitchfork concept and have yet to read up on the topic.

Looking at the projections, it appears future price directionality and projections are a result of identifying a historic price move (a completed leg) and drawing the slope of that leg, then projecting three lines perpendicular to that slope at the 0%, 50% and 100%. This seems to point at a “reversion to the mean”.

Taking it a step further, you've then added the fibonacci retracement levels parallel to the directionality defined by the pitchfork projection. These levels then function as support & resistance; a sloped fibonacci retracement grid.

This is an interesting interpertation. The horizontal fibonacci retracement levels have always seemed somewhat out of synch and more a result of charting constraints. I like the new spin! Thanks…

]]> By: Corey Rosenbloom, CMT http://blog.afraidtotrade.com/updated-andrews-pitchfork-insights-for-sp500-july-28/comment-page-1/#comment-212650 Corey Rosenbloom, CMT Wed, 29 Jul 2009 09:18:26 +0000 http://blog.afraidtotrade.com/?p=4383#comment-212650 I do hope you're not suggesting using one analysis tool in isolation. <br><br>Trading comes from edge, not accuracy. The benefit is that we have a level to inflect off of with a tight stop IF it is confirmed by other forms of analysis. <br><br>The tight stop relative to the larger target generates EDGE which is more important than accuracy.<br><br>We'd all love to have a tool that works 100% of the time - but it doesn't exist. I do hope you're not suggesting using one analysis tool in isolation.

Trading comes from edge, not accuracy. The benefit is that we have a level to inflect off of with a tight stop IF it is confirmed by other forms of analysis.

The tight stop relative to the larger target generates EDGE which is more important than accuracy.

We'd all love to have a tool that works 100% of the time – but it doesn't exist.

]]> By: Corey Rosenbloom, CMT http://blog.afraidtotrade.com/updated-andrews-pitchfork-insights-for-sp500-july-28/comment-page-1/#comment-212649 Corey Rosenbloom, CMT Wed, 29 Jul 2009 09:16:17 +0000 http://blog.afraidtotrade.com/?p=4383#comment-212649 Ole,<br><br>Exactly! One of my weaknesses is Log charting - I'm so used to doing everything with arithmetic but you can indeed get some alternate insights from log charts which can be more important (as fewer people are looking at them). Thanks for sharing! Ole,

Exactly! One of my weaknesses is Log charting – I'm so used to doing everything with arithmetic but you can indeed get some alternate insights from log charts which can be more important (as fewer people are looking at them). Thanks for sharing!

]]> By: Ole http://blog.afraidtotrade.com/updated-andrews-pitchfork-insights-for-sp500-july-28/comment-page-1/#comment-212648 Ole Wed, 29 Jul 2009 08:15:14 +0000 http://blog.afraidtotrade.com/?p=4383#comment-212648 Using the pitchfork with log scaling is quite informative. I have been following this fork on log scale for a while and so far it stopped the advance on 7/24 at the median line Using the pitchfork with log scaling is quite informative. I have been following this fork on log scale for a while and so far it stopped the advance on 7/24 at the median line

]]> By: Bob http://blog.afraidtotrade.com/updated-andrews-pitchfork-insights-for-sp500-july-28/comment-page-1/#comment-210003 Bob Wed, 29 Jul 2009 07:30:24 +0000 http://blog.afraidtotrade.com/?p=4383#comment-210003 I'm new to the Pitchfork concept and have yet to read up on the topic. Looking at the projections, it appears future price directionality and projections are a result of identifying a historic price move (a completed leg), drawing the slope of that leg, and projecting three lines perpendicular to that slope at the 0%, 50% and 100%. Taking it a step further, you've then added the fibonacci retracement levels parallel to the directionality defined by the pitchfork projection. These levels then function as support & resistance, essentially like fibonacci retracement levels. I'm new to the Pitchfork concept and have yet to read up on the topic. Looking at the projections, it appears future price directionality and projections are a result of identifying a historic price move (a completed leg), drawing the slope of that leg, and projecting three lines perpendicular to that slope at the 0%, 50% and 100%. Taking it a step further, you've then added the fibonacci retracement levels parallel to the directionality defined by the pitchfork projection. These levels then function as support & resistance, essentially like fibonacci retracement levels.

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