BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Pitchforks create a type of trend channel.
The trend is considered active as long as the price stays within the channel.
Reversals occur when price breaks out of the channel.
There is a center median line ( trend line ), as well as sets of lines above and below that median line .
The additional lines are set a specified number of standard deviations away from the median.
Each individual line represents a support/resistance level.

Note the way that price action interacts with the various lines :


Pitchforks can help establish key support/resistance levels!

These levels can be used in conjunction with active price action monitoring to help identify trend continuations/reversals while trading.


// Durbtrade

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