Figure 4

The market outburst with a high steamed momentum, is best described by a pitchfork having the anchor at the high, the middle or the low of a gap. The anchor is on this chart at the high gap pivot.
The market outburst with a high steamed momentum, is best described by a pitchfork having the anchor at the high, the middle or the low of a gap. The anchor is on this chart at the high gap pivot.
The choice of the Schiff median line is very useful when the projected pitchfork faces a "vis-á-vis" swing, especially after a reversal, followed by a breakaway gap.
Most of the traders don't think of observing "what doesn't happen" on the chart. The concept of running out of steam gives the trader a serious edge to reveal the up-sloping or down-sloping failures, especially in topping or bottoming markets. They are the basement of many low-risk high-probability trades.