littleriver

EURUSD PITCHFORK STUDY

FX:EURUSD   Euro Fx/U.S. Dollar
199 3 1
I am doing this chart as a study of pitchforks rather than an actual trade. I have drawn two forks. Also drawn is a clone of fork A's lower MLH to center ML and a line connecting two recent major lower pivots . Price appears to be headed to a confluence of fork B's center ML , cloned lower MLH and trend line . This is the next area of potential support/ buyers.
kapital
2 years ago
What are the anchor points for the line connecting the two recent major low pivots (upward yellow line from what I see)? They don't appear to be the tips of the candle.
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littleriver kapital
2 years ago
Hello Kapital, Great observation! I debated over these points for some time. I will often use line charts to help construct these charts. Sometimes an average is better than pure candle stick points. The first point is taken right at the tip of this line chart. The second one I debated for some time. In the end, I settled for the middle of the tip of this second pivot. Here are a couple of charts behind the choices. Thank you for the question.
snapshot
snapshot
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GC_ kapital
2 years ago
agree
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