|
Dr.
Andrews' Price Target Method
and
Price
Failure Rule
Dr.
Andrews taught his course members a little known method for
determining price targets after a breakout of what he termed
a sideways trading channel. Notice how close prices came to
the 80 target level after breaking out of the highlighted area
on the chart below. You'll learn how he arrived at price targets
in this course.
Also,
traders who are familiar with Dr. Andrews' Median Line Technique
(The Pitchfork) are probably aware that according to Dr. Andrews,
prices tend to reach the latest median line approximately 80%
of the time. "More often than not," he wrote in his
course material and newsletters to course members.
But
what about the remaining 20% of the time? The chart below illustrates
a price failure to reach the median line of the red pitchfork.
Not shown or described are the steps he followed to anticipate,
confirm, and then act on what he termed a "Price Failure."
You'll learn those steps as part of this course, along with several
other supplementary techniques he used to help him analyze his
charts and arrive at trade decisions as prices interacted with
his various course lines.
During one of
his seminars held in Miami for course members, Dr. Andrews said
that each day, after the markets closed, he updated the prices on
all of his charts.Then he reviewed and updated the various studies
on each chart. While I was a course member of his, Dr. Andrews sent
me charts that included his configuration rules for studies such
as those above. His notes and drawings were done by hand on paper
charts however -- personal computer charting wasn't available in
his day.
Most
traders have personal computers now days that do the charting
legwork and technical indicator studies for them, but many admit
that good old fashioned chart-studying is still hard to beat.
To start putting Dr. Andrews' trading techniques to
work for you:
- Please
visit the Course Info page for tuition and related
course information.
-
Or,
use the E-Mail button at the bottom of this page.
Please include a request for enrollment or additional information,
and I'll get back to you promptly. I respect privacy, so be
assured that your mail address will not be released to others.
--------------------------------------------------------------------------------------------
For
plotting Dr. Andrews' pitchfork, plus many other technical studies
on commodity charts, we use Gecko Software's "Track 'n Trade"
charting program. They offer a free 14-day trial if you'd like
to check out all the features of that fine program. A new addition
to their extensive list of programs is their "Autopilot trading
system.." For complete information just click on either banner
below.

___________________________________________________________________
|