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General TradingA
Andrews' Pitchfork
A technical analysis tool consisting of three parallel trend lines drawn from three consecutive pivot points. The middle line acts as a median, and the outer lines serve as potential support and resistance levels. Traders use Andrews' Pitchfork to identify channels within which price is likely to oscillate, and a break beyond the outer lines can signal a trend acceleration or reversal.
Example
“Price repeatedly bounced off the lower boundary of Andrews' Pitchfork before eventually breaking through and accelerating to the downside.”