| humblefarmer - 12/8/2018 12:15
JP could you give me your thoughts on a Schiff pitchfork. The Readers Digest version please. If you have to write a book please disregard. I know nothing so easily confused. Is there such a thing as a modified Schiff ? I thought the Schiff was already a modification of a standard pitchfork?
Hi humblefarmer,
Basically the difference in the schiff Forks is how the A point is handled. On a modified schiff both the X and Y axis are shifted 50% of the distance between the A pivot and the B pivot. On a regular Schiff, the A pivot is just shifted 50% vertically the distance between the A pivot and the B pivot on the Y axis only. A regular schiff fork might be the Holy Grail, I do not know. I haven't used it in probably five years. But everybody that draws a trend line which is basically every trader in the world, utilizes the modified shift fork and don't even know it. A trend line connecting two pivots is nothing more than the lower or upper parallel on a modified schiff fork. And now you know why a trendline works, it's not because it's a trendline but it's because it's a median line.
Take care
Edited by J P 12/8/2018 13:16
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So chartist what do you make of this and where is it heading?
