This is something new for me. Would you be so kind as to elaborate in greater detail what this is respectively what we see?
HarmonicPitchforks
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@to_om, the history of this chart is very low and there are many assumptions. in this chart with the behavior of the candles, I consider these two waves are B and C waves of Elliott. since there isn't the A wave of Elliott in this chart I must find the start of the slide of the A wave with Fibo retracement. the C wave has corrected 38 percent of the B wave so I must have an assumption that the B wave how much has corrected the A wave with harmonic patterns to find the X point that is the start of the A wave. you could find the Fibo levels of XA and BC waves with Fibo retracement. for trend analysis, I use two pitchforks and sometimes three pitchforks. first I use a modified pitchfork and connect A point to X point and then X point to C point. the second pitchfork also is modified pitchfork and I connect the C point to the end of 1st wave of Elliott and then connect the end of 1st wave to somewhere that give valid trend lines. sometimes there is a third regular pitchfork. the behavior of candles is important to the validation of trends of the pitchforks.
to_om
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@manuchehr67, Many thanks for your effort and time. I have to think about it first, prior to any answer. However, a lot of assumption have been made tbh but TA is only a supporting tool box for a crystal ball, right? ;) Cheers, T