Andrews’ Pitchfork trend channel tool

Andrews’ Pitchfork trend channel tool Introduction Developed by Alan Andrews, Andrews’ Pitchfork is a trend channel tool consisting of three lines. There is a median trend line in the center with two parallel equidistant trend lines on either side. These lines are drawn by selecting three points, usually based on reaction highs or lows moving from left to right on the chart. As with normal trend lines and channels, the outside trend lines mark potential support and resistance areas. A trend remains in place as long as the Pitchfork channel…

OPEN INTEREST AND MARKET DIRECTION

ALL YOU NEED TO KNOW ABOUT OPEN INTEREST AND MARKET DIRECTION “There’s a sucker born every minute!” You are likely familiar with this phrase which has been attributed to the late P.T. Barnum.  It means that there are a lot of gullible people in the world.  Wall Street is counting on investor vulnerability in order to line their own pockets. Business television helps to perpetuate this.  Most of the time, when you tune in you are bombarded with “news” of the hottest stocks; the ones that have already increased in…