Andrew’s Pitchfork Supplementary Lines and Signals - Forex Market

Andrew’s Pitchfork Supplementary Lines and Signals

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Andrew’s Pitchfork Supplementary Lines and Signals

Forty Ninth session of Forex Training

Welcome back to Forex professional training in financial markets.

Andrew’s Pitchfork supplementary lines and signals will be studied in this session.

1st type – Additional Line

In a Bullish pattern, if a price fluctuates over the 3rd pivot line, which eventually breaks this line by a Bearish candle, then a valid Sell signal is generated only if the price fluctuation could not break the line between the 1st and the 3rd pivot lines.

The Bearish candle must close under the 3rd pivot line.

In a Bearish pattern, if a price fluctuates under the 3rd pivot line, which eventually breaks this line by a Bullish candle, then a correct Buy signal is generated only if the price fluctuation could not break the line between the 1st and the 3rd pivot lines.

The Bullish candle must close over the 3rd pivot line.

There is a Bullish Andrew’s Pitchfork on MT4 chart that was drawn.

Price has oscillated between the line ½ and the 3rd pivot line, then it broke the 3rd pivot line and proceeded towards the bottom.

Andrew’s Pitchfork Supplementary Lines and Signals - Bullish and Bearish trend - Awesome Oscillator

2nd type – Supplementary Signal

In a Bullish pattern, after a price touched the 1st pivot line and proceeds towards the bottom, if a GAP appears in a market price and the trend continues its downward movement, then a Sell signal is generated and trader can place a Sell order with TP price on the 3rd pivot line and SL price on the 1st pivot line.

In a Bearish pattern, after a price passed the 1st pivot line and proceeds towards the top, if a GAP appears in a market price and the trend continues its upward movement, then a Buy signal is generated and trader can place a Buy order with TP price on the3rd pivot line and SL price on the 1st pivot line.

Andrew’s Pitchfork Supplementary Lines and Signals - Fibonacci Levels Confirmations

3rd type – Supplementary Signal

In a Bullish pattern, after a price rises towards the 1st pivot line, if it does not reach this line and only High of a candle goes near or touches it and returns to a lower price, then a trader can place a Sell order below this candle.

Such candle, like a Shooting Star, shows tendency of market trend towards the bottom.

TP price is on the 3rd pivot line, while SL price is on the 1st pivot line.

In a Bearish pattern, after a price falls towards the 1st pivot line, if it does not meet this line and only Low of a candle, like a Hammer, goes near or touches it and returns to a price, then a trader can place a Buy order over this candle.

Such candle shows a reversal point in a market price. TP price is on the 3rd pivot line, while SL price is on the 1st pivot line.

Andrew’s Pitchfork Supplementary Lines and Signals - Pivot Levels, Trading Analysis, Candlesticks Pattern

On Oil chart in a Weekly timeframe, there is a downward Andrew’s pattern.

High price of a Candlestick went near the 1st pivot line followed by a powerful Bullish candle.

Price increased and passed the 3rd pivot line, thus, a trader could place a Buy order over the certain candle.

Trader must practice frequently in order to be able to detect the additional lines and signals alongside support and resistance lines that affect signals derived from Andrew’s Pitchfork pattern.

Andrew’s Pitchfork patterns frequently forms alongside Double Top and Double Bottom patterns.

Thus, a trader can derive SL price from the Andrew’s pattern, while TP price would be obtained from a Double Top/Bottom pattern.

That concludes this session, until next time and another session take care.

Linkages & Notices

You can also view the video of this session available on the PFOREX Financial Video tutorials.

You can also find the video of this session on PFOREX YouTube Channel.

PFOREX Assist app provides BEST & FREE trading signals and market analysis. PFOREX Assist is available on App Store (iOS version) & Play Store (Android version).

The PDF file of this session is also available.


PFOREX Educational materials in text and video formats are developed by PFOREX Department of Education to enhance and improve investors’ knowledge and trading skills. Due to high risks and volatile fluctuations in financial markets, traders and investors must develop their trading skills and knowledge. It is strongly recommended to apply Risk and Capital Management when trading in financial market.

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