Hi FishingAndBeer,Big difference between pitchforks and ellipse....

Hi FishingAndBeer,

Big difference between pitchforks and ellipse. For example, can you draw a pitchfork from any price move before you get a range to form the bottom and the top? For pitchforks, you can only draw the pitchfork once these 3 points are identified.

The ellipse is pre-fixed in size and dimension for any financial instrument even before the market starts. Also, every ellipse is the same size and geometric dimension once the major axis is fixed and is a matter of placing it as the trading proceeds, in contrast are there any one size pitchfork fits all? The ellipse stays the exact size for the financial instrument:)

There are more differences in usage as well- but no necessity to explain it out here. The case is pitchforks is a wonderful tool and is really powerful and useful. So use pitchforks if they are working for you. No doubt about that.

Anyway, the answer to your question about drawing the ellipse is really short. Just give me a throw away email, and you can become the proud recipient of a trading software that can be run in real time(intraday) or end of day with the ellipse and all the high powered fibonacci stuff ( It's free). Don't worry, you get the videos and tutorials free as well. It's your lucky day today!

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