Pitchforks

Pitchforks are a popular analysis and trading technique. In essence, there are 3 key elements to it: 2 outside parallel lines that provide support and resistance and a median line in between them. To use a pitchfork correctly, identify 3 points that are consecutive highs and lows, where the first point represents the start of a trend. The median line connects the first point to the midpoint of the other 2. Additional lines can be added at a set number of standard deviations from the median, forming parallel trend channels.

They can be used to identify buying and selling opportunities at those lines (for trading bounces or breaks), depending on the specific rules of entry and exit a trader may have. Conservative traders look for additional confirmation. Apart from Andrew's Pitchfork there are variations like the Schiff Pitchfork, the Modified Schiff pitchfork and the Inside Pitchfork and TradingView has smart drawing tools for all of these techniques. There is also a popular chat where users share ideas using this technique.
eaglestar eaglestar ES1!, 240,
ES1!: SandP 500 E-Mini Futures 240 CME Updated 4/28/2017
14 0 3
ES1!, 240
SandP 500 E-Mini Futures 240 CME Updated 4/28/2017

Price has broken the blue middle median line. Look for price to continue lower, and watch far a retest of the upper pink median line. Price may fake out sell orders and try to take it higher to retest 2400, but look for frequency along the upper pink median line for possible short opportunities.

eaglestar eaglestar ES1!, 60,
ES1!: SandP 500 E-Mini Futures 60 CME Updated 4/28/2017
7 0 2
ES1!, 60
SandP 500 E-Mini Futures 60 CME Updated 4/28/2017

Price has come down to prior mild support near 2379 area, and is now hitting the sliding parallel support as well. Look to see if price will rise a bit then come down to fill the gap. Price is looking drowsy after its big move up, so I would not be surprised to see this happen.

eaglestar eaglestar ES1!, D,
ES1!: SandP 500 E-Mini Futures D CME Updated 4/28/2017
6 0 2
ES1!, D
SandP 500 E-Mini Futures D CME Updated 4/28/2017

Price has gone int the zone near 2390-2400 and is finding resistance. Look to see if price will drop from here lower matothe sliding parallel and fil the gap on the back side of the upper action reaction set line.

dinnersticks dinnersticks EURUSD, D, Long ,
EURUSD: EURUSD Daily Long
58 0 5
EURUSD, D Long
EURUSD Daily Long

Hi all, After the gap price is seemingly getting back on its feet and is currently consolidating between the 50 and 61.8% daily fibs. I am waiting for a retest of the blue medianline to go long, only if it shows enough weakness. A close above the red median will mean we need to wait for a retest of it. What would be most valueble is a test on the confluence of ...

MarketIntelligence MarketIntelligence BTCUSD, 120, Long ,
BTCUSD: Btc Long Analysis
148 0 3
BTCUSD, 120 Long
Btc Long Analysis

The Bitcoin long position continues to pay as the Dragon is in full flight (Dragon Analytics). Looking to take some profits at the pitchfork median line (green dotted line) at 1350-1360,I'll keep a runner and wait for another buying opp. Support remains at 1300. Good trading and remember to follow the plan, even if it means losses. Small losses lead to big gains.

eaglestar eaglestar ES1!, 240,
ES1!: SandP 500 E-Mini Futures 240 CME Updated 4/27/2017
11 0 3
ES1!, 240
SandP 500 E-Mini Futures 240 CME Updated 4/27/2017

Price has come down from resistance near 2389 level. The new down ward pink median line is showing frequency on the middle median line so look to see if price continues to drop, we may hit the middle median line. We have 2 conflicting forks, at this moment, so if price rises to test the uper pink median line, look for wide range bars and rejection to go short.

eaglestar eaglestar ES1!, D,
ES1!: SandP 500 E-Mini Futures D CME Updated 4/27/2017
6 0 3
ES1!, D
SandP 500 E-Mini Futures D CME Updated 4/27/2017

Price has come up to the resistance zone and has shown there are some sell orders near the 2391-2400 area. Look to see what price does here, as it may very well drop a bit.

eaglestar eaglestar ES1!, 60,
ES1!: SandP 500 E-Mini Futures 60 CME Updated 4/27/2017
8 0 3
ES1!, 60
SandP 500 E-Mini Futures 60 CME Updated 4/27/2017

Price is holding on the middle blue median line, but there is hesitation to go higher. Be careful here if you are long, because it looks like price is hesitating. Price had hit the 2387 area there were sell orders there as you can see price had a few large bars there.

Fxprotrader Fxprotrader XAUUSD, 240, Long ,
XAUUSD: Gold Buy Opportunity at Key Support Level
355 0 17
XAUUSD, 240 Long
Gold Buy Opportunity at Key Support Level

Looking at the 240min chart we may easily see how beautifully the sliding parallel of the pitchfork is offering very good support to the price every time is being tested. Once again the price is testing the sliding parallel and going long with sl and tp as shown in the chart is a very nice idea..!

forker forker PRO ESM2017, 15,
ESM2017: ES 15 Minute - Pattern view versus Fork Trading view
50 0 9
ESM2017, 15
ES 15 Minute - Pattern view versus Fork Trading view

A classic TA may see a H&S. What a Fork Trader is seeing is a different picture. Watch the picture on the follow up below. BTW:...it's not about right or wrong, it's about context and education.

Tin.Foil Tin.Foil BTCUSD, D, Long ,
BTCUSD: July 4th to meet $1705
987 1 8
BTCUSD, D Long
July 4th to meet $1705

We're near the top of the pitchfork. Expect a drop, go for your sell positions but not for too long. Ride the wave up at the bottom of the next little crash, until 1st or 4th of July. Will be a good 4th of July. Remember, we're at the ATH. We've had a massive 3 year cup for a C&H formation. The handle is being created over the next few months, so don't expect ...

pdmaster pdmaster PRO BTCUSD, 240, Short ,
BTCUSD: Bitcoin downtrend
156 0 5
BTCUSD, 240 Short
Bitcoin downtrend

Bitcoin has completed a 0.886 shark from my last post. I labelled out all fib level from the original upward trend. I think bitcoin is going to head to 0.618 level at least, then bounce back to continue the upward trend as pitchfork shown. Or If it did break the pitchfork, we might see a downward trend to 700-800 level.

forker forker PRO TSLA, D, Short ,
TSLA: TSLA - From stretch to relax
155 7 11
TSLA, D Short
TSLA - From stretch to relax

This is a situation, where TSLA will reach the centerline with a chance of over 80%, according to the rules of the fork. Playing this small, but playing it. P!

Lozanotrade Lozanotrade USDCAD, 240, Short ,
USDCAD: update usd/cad
50 0 2
USDCAD, 240 Short
update usd/cad

FOUND RESISTANCE ABOVE MY FORK SHOULD COME DOWN TO UPPER PARALLEL TO FIND SUPPORT OR GO FURTHER DOWN

Lozanotrade Lozanotrade NZDUSD, 60, Long ,
NZDUSD: BUY SET UP
42 0 4
NZDUSD, 60 Long
BUY SET UP

Found support at Median Line

Lozanotrade Lozanotrade USDJPY, 240,
USDJPY: Watch For Breakout
80 0 6
USDJPY, 240
Watch For Breakout

Watch For Breakout Take Direction To Next parallel Line on fork

hanzeholdinworth hanzeholdinworth DCRBTC, 240, Long ,
DCRBTC: DCR: HEX OR NO
715 16 21
DCRBTC, 240 Long
DCR: HEX OR NO

Clearly we are seeing here a strong classic cubic growth attempting to transition into hexagonal matrix here. Makes sense - Decred's technological superiorness is fitting to the most optimal geometric structure - but does it have what it takes to transform into the hex? I'm not so sure just yet. Today DCR release v1.0. Lots of tech stuff coming out that are ...

Timing is key Timing is key EURUSD, M, Short ,
EURUSD: ACTION / REACTION THEORY APPLIED TO EURUSD ( M )
2355 32 44
EURUSD, M Short
ACTION / REACTION THEORY APPLIED TO EURUSD ( M )

IDEA: THE USE OF THE 0-3 LINE TO DETERMINE NOT ONLY PREDICTIVE TURNING POINTS, BUT ALSO, THE SLOPE OF THE NEXT MOVE!! This chart may seem confusing at first glance, however I will explain how to interpret it the best I can. First , Each parallel pairing is color coded with 1 Center Line (C/L), 1 Action Line (A/L) & 1 Reaction Line (R/L) and are equidistant to ...

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