I've been trading fx with PF's for some time now. In addition, I utilize Fibs together with them. If you truly wish to know about PFs, it is best to google Pitchfork Primer and go the site. Gordon is an elderly gentleman residing in Hawaii and claims to have analyzed with Andrews. He's got a course that'll cost you $240...a deal taking into consideration the crap that is being sold on the market.
In the same time get The Best Trendline Methods of Alan Andrews by Patrick Mikula. This book covers exactly the same stuff Gordon does, but does a little better job explaining and providing examples. Gordon's substance has things Mikula's doesn't, so get .
The trick to using PFs is understanding when to enter transactions. The exits are in fact pretty simple, which is a change in trading if you consider it. They work very well in FX. . .my experience so much is 83% of the time they'll hit the Median Line, as the above poster mentioned. But, there's quite a little more to them than simply shooting the ML. That is why you need the materials.
You'll also need to know how to read bar patterns (I suppose candle patterns work too ), which of course every trader must know as standard, default understanding anyhow. The attractiveness of PF's is they work on every market, on every time period. However, like a lot of other items, the bigger frames take precedence on the lower ones.
Ultimately, I have no affiliation with either men, I get nothing for mentioning them, so no crap, please. I barely come here, but only happened to find this post.
For people who are familiar with this piece of crap forums which used to be great but has gone so far downhill it is burrowing, my user name is bobnat. I think a few here would recongnize my name and know I'm not a shill.
Nat