Andrews Pitchfork has developed a trend channel tool consisting of three lines. PitchFork & Median Line eBooks is a great tool to find high probability lines. These lines include a median trend line in the center with two parallel middle trend lines on either side. It is usually drawn by selecting three points, typically based on reaction highs or lows moving from left to right on the chart. Because with standard trend lines and channels, the exterior trend lines mark possible support as well as resistance areas.
In the first step, you have to use Andrews Pitchfork in selecting three points for drawing. There are three points that are usually based on reaction highs or reaction lows, also called as pivot points. The Chart 1 indicates McKesson (MCK) with Andrews’ Pitchfork extend up from the June short. The initial point selected symbols the establishment of the median line. On the other hand, points 2 and 3 define the breadth of the Pitchfork channel.
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