Andrews Pichforks

Andrew's pitchforks aim at establishing profitable opportunities and swing possibilities in the currency markets. On a longer-term basis, it can be used to identify and gauge overall cycles that affect the underlying spot activity.

More information on how to draw and use pitchforks can be found on www.investopedia.com

For me, the most powerful feature of pitchforks is that they often give you points where profit can be taken, long before any other tool shows this.

The chart above clearly shows several forks, each of which show where price is going next (until becoming invalid). Notice how the large blue one does a nice job at enclosing price?

Also notice the smaller white fork, which was added right after price made a new high. The lower line became a natural place to take profit. After bouncing there, the median line and lower line could have been used several times to make some nice trades. And when the median line was finally broken to the upside, price drifted to its next natural target, the upper-line.