Pitchfork Strategy is a technical method that helps traders to read price trends easier and determine reversal points, either for entry or exit points.

Pitchfork Strategy is a technical analysis method developed by Dr. Alan Andrews on the concept that prices often revert to its origin. The lines made on this strategy seems like a pitchfork, where the first point is the handle and the second and third make up the prongs. After you understand where to place the first point, you could start to draw the pattern and find trend's area. This strategy made it possible for traders to tighten their risks and targets moderate profit.

Andrew's
The argument for this strategy is that 80% of time in the market is shaping trend. So, traders will find prices by drawing line according to market condition, be it up-trend or down-trend. The first point starts the first line that will be the median line, and extreme sways are at the second and third point. Median line is the foundation of Andrew's Pitchfork Strategy.

There are many tools to help you find the first, second, and third point, like Zig Zag indicator, and daily and weekly fractal patterns. Zig Zag indicator could be used to determine reversal price changes, and at once draw a pitchfork from those points. Fractal shows price reversals which signals turn over at the market.

The end result is to frame price action with Pitcfork Strategy on the time frame you like best. That way, you could choose your entry and exit point.

The key of using this technical analysis is choosing the most suitable strategy for you. No matter what you choose, make sure to limit your risks by placing stop loss outside the line and trading in coherence with your ability.