by, 13th-March-2009 at 05:03 PM (2864 Views)
there is so much rubbish when it comes to indicators, and even if you sift through and find the good ones "YOU" yourself still have to learn to drive your chosen indicator.
one indicator i think is well worth a look is a leading indicator called "andrews pitch fork"
the fork is not as difficult to draw as it might look, . . . after a bit of practice
the chart below shows the fork on todays SPI (30min chart) giving a short signal at the yellow circle, as well as an exit point (the next blue line beneath the yellow circle)
below that chart is a BHP chart which i happened to be forking after another ASFer posted on BHP.
the chart shows the BHP high meeting and reversing at the fork (blue circle).
in this example, once the fork trader has drawn the BHP fork the general idea is to wait for price to meet the upper resistance line, in this case 3 mths later, before shorting.
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