Popular Today
Popular Today
Popular All Time
Newest

Pitchforks

Pitchforks are used as part of 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.

Pitchforks 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 will look for additional confirmation. Apart from Andrew's Pitchfork there are variations like the Schiff Pitchfork, the Modified Schiff pitchfork and the Inside Pitchfork. TradingView has smart drawing tools for all of these techniques and there is a popular chat where users share pitchfork-based ideas.
locatellicharts locatellicharts PRO GBPUSD, 60,
GBPUSD: 1H with Median Line
98 0 6
GBPUSD, 60
1H with Median Line

Median Line that had a multiple tests of the upper parallel and now could be confirmed with prices moving south. Pattern on watch

theFXcoach theFXcoach PRO GBPCAD, 60,
GBPCAD: Charlie-Delta Trading
33 0 5
GBPCAD, 60
Charlie-Delta Trading

Patience and selectivity are the key in Charlie Delta trading

zippy1day zippy1day PRO BTCUSD, 240, Long ,
BTCUSD: BTC Elliott Wave in Pitchfork!
191 0 3
BTCUSD, 240 Long
BTC Elliott Wave in Pitchfork!

This in my honest opinion is a correction of Wave 3 so target $5135 ~ $5273 for end of? Target end of Wave (5) $5895 ext $6696

forker forker PRO HYQD, D, Short ,
HYQD: Hypoport - Short the hell out of it.
18 0 4
HYQD, D Short
Hypoport - Short the hell out of it.

Here we go... This is a super fake IMO, and that's why it will go at least back to the centerline. P!

eaglestar eaglestar ES1!, 60,
ES1!: SandP 500 E-Mini Futures 60 CME Updated 10/17/2017
10 0 4
ES1!, 60
SandP 500 E-Mini Futures 60 CME Updated 10/17/2017

After hitting the sliding parallel multiple times, price is now moved up a bit again onto the warning line 1 as support. We are compressing a bit here and also on the 240 chart, so look for a break out soon.

eaglestar eaglestar ES1!, D,
ES1!: SandP 500 E-Mini Futures D CME Updated 10/17/2017
5 0 3
ES1!, D
SandP 500 E-Mini Futures D CME Updated 10/17/2017

Price is still moving along the retest of the sliding median line parallel as resistance. If price doesn't break higher soon, we may see price fall back under the blue median line again.

eaglestar eaglestar ES1!, 240,
ES1!: SandP 500 E-Mini Futures 240 CME Updated 10/17/2017
5 0 3
ES1!, 240
SandP 500 E-Mini Futures 240 CME Updated 10/17/2017

Price is rising higher fater hitting the sliding parallel and continuing up. It looks like price is compressing, so look for a move soon.

steliron steliron BTCUSD, 240, Long ,
BTCUSD: BTCUSD 4 hour
108 0 2
BTCUSD, 240 Long
BTCUSD 4 hour

Up-sloping fork maybe test SP line, looking for long from SP line test

locatellicharts locatellicharts PRO EURUSD, 60,
EURUSD: 1H and lower parallel test
52 0 3
EURUSD, 60
1H and lower parallel test

That test could be irrelevant but could also be a pull back right before a straight move north. Pattern on watch. Daily here https://www.tradingview.com/x/KtksYCkc/ https://www.tradingview.com/x/DVM3yRCF/

Flame091 Flame091 PRO IOTUSD, 60, Long ,
IOTUSD: IOTUSD - Resistance breakout
224 1 7
IOTUSD, 60 Long
IOTUSD - Resistance breakout

IOTUSD finally broke the resistance line of the pitchfork, which means the trend was changed from fall to rise. Support level : 0.42~0.43 There would be a correction around 0.485. If the price break 0.485 very strong, it may go up to 0.55~0.56 additionally.

eaglestar eaglestar ES1!, 240,
ES1!: SandP 500 E-Mini Futures 240 CME Updated 10/16/2017
13 0 5
ES1!, 240
SandP 500 E-Mini Futures 240 CME Updated 10/16/2017

Price is riding along the sliding parallel with multiple touches. Look to see if price will continue to hit the upper blue parallel as resistance again.

eaglestar eaglestar ES1!, D,
ES1!: SandP 500 E-Mini Futures D CME Updated 10/16/2017
7 0 5
ES1!, D
SandP 500 E-Mini Futures D CME Updated 10/16/2017

Price has risen and is still testing resistance along the sliding parallel. Look to see if price can break through or if we will come back down to the blue median line.

eaglestar eaglestar ES1!, 60,
ES1!: SandP 500 E-Mini Futures 60 CME Updated 10/16/2017
5 0 4
ES1!, 60
SandP 500 E-Mini Futures 60 CME Updated 10/16/2017

Price has continued higher after hitting the sliding parallel multiple times. We are now testing the warning line 1 which has acted as support before, so see if we can continue higher again.

forker forker PRO GC1!, W, Long ,
GC1!: GC - Gold running to the upper MLH
170 6 8
GC1!, W Long
GC - Gold running to the upper MLH

ForkTrading leads us to the right direction. Here we see how Gold respected the Centerline so far. If Gold is closing the week above the Centerline, I expect the next station to be the Upper-Medinaline-Parallel (U-MLH). P!

purpurato59 purpurato59 PRO GC1!, D, Short ,
GC1!: Before reversal
223 0 4
GC1!, D Short
Before reversal

Having just hit the pitchfork channel and the POC here, it looks like gold will retrace and extend from its previous uptrend to test the lower part of the channel. The R/R for this trade is fair enough to take the risk. Lower time intervals show some overbought condition that confirm. Good luck and thanks for your comments.

nzhoenfx nzhoenfx BTCUSD, 240, Short ,
BTCUSD: The Hunt for Red October II
125 0 4
BTCUSD, 240 Short
The Hunt for Red October II

BTCUSD Monthly Setup Update - October

nzhoenfx nzhoenfx GBPJPY, 240, Short ,
GBPJPY: GBPJPY 10/10
89 0 3
GBPJPY, 240 Short
GBPJPY 10/10

GBPJPY Monthly Setup - October

WorldStockMarket WorldStockMarket XAUUSD, D,
XAUUSD: Gold Elliott Wave Analysis
531 2 14
XAUUSD, D
Gold Elliott Wave Analysis

Gold can go down a bit more but at last will complete its motive wave further.

Show More Ideas 123456...56
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out
Browse