Charting the Markets with IG TV: Special show on the Andrews pitchfork

Recorded and broadcast live on Friday the 8th November, just ahead of Remembrance Sunday 2019, STA Committee member Eddie Tofpik appropriately decided to do a special educational show on the Andrews pitchfork. Church on Sunday reminded me that Isaiah 2:4 says: ‘’and they shall beat their swords into ploughshares, and their spears into pruning hooks: nation shall not lift up sword against nation’’.

Eddie, dapper in pale grey suit, pink striped shirt, yellow tie and red poppy, brought along the very same slides he had used at a lecture prepared for an STA monthly meeting a couple of years ago. Normally videos of the talks are only available to STA current members, and his insights here are on a par with what they can see; the difference is that they’re available free to all and sundry on the STA blog (www.sta-uk.org) and to IG clients.

This is a tour de force – where he helpfully has bullet points on the charts themselves, encouraging you to pause the video and make notes of salient features – and especially as to how to correctly draw the tines. Using up-to-date data he proves that ‘’it does work out of the classroom…[because] it’s binary: it either fits or it doesn’t.’’ New to me was that the concept goes back a long way, via Babcock to Medieval mathematicians. He elaborates: ‘’I prefer things with pedigree’’, like candles that go back 250 years, and Fibonacci, the brilliant Italian maths genius.

He then moves on to Schiff‘s (adjusted) pitchfork, reminding us that there are also echoes of pitchforks. Jeremy asks good, detailed questions like: ‘’What exactly are you doing?’’, which add depth to the discussion. Both of these pitchforks are new to me. I live and learn. Great stuff!

Click here to watch.

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Posted in Finance, Markets, STA news, Technical Analysis, Technical Analysis Courses, Trading, Trending
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The views and opinions expressed on the STA’s blog do not necessarily represent those of the Society of Technical Analysts (the “STA”), or of any officer, director or member of the STA.

The STA makes no representations as to the accuracy, completeness, or reliability of any information on the blog or found by following any link on blog, and none of the STA, STA Administrative Services or any current or past executive board members are liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.

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About Nicole Elliott

Nicole Elliott

A graduate of the London School of Economics and Political Science (BSc Social Psychology) Nicole Elliott has worked in banks in the City of London for the last 30 years. Whether in sales, trading or forecasting technical analysis has always been the bedrock of her thinking. Key expertise lies within all areas of treasury: foreign exchange, money markets, fixed income and commodities.

She has also added to the body of knowledge of the industry writing the first western book on Ichimoku Cloud Charts. Strong media links and a cult following are due to her prescient calls on the markets and often entertaining format.

Nicole can be contacted at trending@sta-uk.org

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