As stated before, I'm new to pitchforks, and am eagerly awaiting Tim's book.
I have read Patrick Mikula's book and wondered if you guys incorporate a couple of his ideas into your pitchfork trading:
1. Reaction lines - or Mikula's so-called "Super Pitchfork." This is where you project forward a reaction line based on the line between the last 2 pivots of your fork, and the distance back to the first pivot. Does this still work with Schiff forks??
2. Time target for reaching median line - you ascertain which has the longer time frame - between the first and second pivot, or between the second and third pivots. Whichever is the greater, you use as a time target for price to test the median line. Again - does this still work with Schiff forks?
Both these strike me as being potentially useful tools, but I wondered if anyone was actually using them, as I haven't seen them mentioned at all in this thread.
@ Tim - please don't take offence at any posts on this thread - it would be much the poorer without your contribution.
Happy trading everyone!
Rob
I have read Patrick Mikula's book and wondered if you guys incorporate a couple of his ideas into your pitchfork trading:
1. Reaction lines - or Mikula's so-called "Super Pitchfork." This is where you project forward a reaction line based on the line between the last 2 pivots of your fork, and the distance back to the first pivot. Does this still work with Schiff forks??
2. Time target for reaching median line - you ascertain which has the longer time frame - between the first and second pivot, or between the second and third pivots. Whichever is the greater, you use as a time target for price to test the median line. Again - does this still work with Schiff forks?
Both these strike me as being potentially useful tools, but I wondered if anyone was actually using them, as I haven't seen them mentioned at all in this thread.
@ Tim - please don't take offence at any posts on this thread - it would be much the poorer without your contribution.
Happy trading everyone!
Rob