From: Alton
Subject: Fork charts...constuction quest
Views: 100
Date: 6/21/2003 12:34 AM
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Fork charts...or at least that's the name I use. These charts were used almost to a fault by Tim Sharp when he posted on TT, and Bob K. uses them as a part of his daily analysis. The primary line works from a price pivot; it's direction seems to be determined by bisecting a subsequent swing (with a high genarally above the pivot and a low below). I've searched stockcharts and other sources -- online and offline -- for construction guidelines.
Some of the issues...do you always use intraday extremes, or can you use a prior day's close if it represents the extreme in the direction of the price trend? Does the center line always bisect the subsequent swing, or can it simply parallel a trend which develops along one of the fork's tines? What are da rules?
Alton
06-21-03
P.S. Traders who try to pick tops and bottoms are intrinsically rulebreakers, but they have to know the rules (a.k.a. the trend) before they can know when to modify them.
Subject: Fork charts...constuction quest
Started by
TTHQ Staff
, Aug 22 2003 03:32 PM
1 reply to this topic