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Analyst
April 13, 2020
Angola Kwanza
April 13, 2020

Andrew’s Pitchfork

Published by TradersColo at April 13, 2020
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    A technique that creates a channel using 3 points. It was developed by Dr. Alan Andrews.

    (Bullish Channel)
    Point A is placed on a bottom of a bull rally.
    Point B is placed on the top of a bull rally.
    Point C is placed on the bottom of the correction.
    Once those points are placed, the trading platform will draw 3 parallel lines with an ascending slope which looks like a bullish channel.

    Generally a buy signal appears when the price touches the lower line.
    If the price touches the upper line, it tends to be a sign of a sell.

    (Bearish Channel)
    Point A is placed on a top of a bear rally.
    Point B is placed on the bottom of a rally.
    Point C is placed on the top of the correction.
    Once those points are placed, the trading platform will draw 3 parallel lines with an ascending slope which looks like a bearish channel.

    Generally a sell signal appears when the price touches the upper line.
    If the price touches the lower line, it tends to be a buy signal.

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