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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.
RagingRocketBull RagingRocketBull BTCUSD, 1W,
BTCUSD: Bitcoin Macro Analysis - Approaching Key Yearly Pivot
164 2 5
BTCUSD, 1W
Bitcoin Macro Analysis - Approaching Key Yearly Pivot

Here's a fresh macro look at what's coming using weekly ichimoku, elliott waves and fibos. Bitcoin is rapidly approaching a key yearly pivot. Whatever happens in the next 2 weeks will define Bitcoin (and the whole crypto) market till the end of the year. We will soon enter the vertical rising ichimoku cloud on a weekly (Point 3). Historically we already had 2 ...

mortdiggiddy mortdiggiddy US30, 120,
US30: Back in long soon
73 0 2
US30, 120
Back in long soon

History has told me to fade Trump news. $SPY $IWM $DIA $QQQ $VXX $GLD $USDJPY

Zoen_Trieste Zoen_Trieste XAUUSD, 1D, Long ,
XAUUSD: Gold Looking Up
72 0 3
XAUUSD, 1D Long
Gold Looking Up

Gold broke its trading range to the downside but bears are seemingly not capable of taking it lower. Taking long positions at this stage is justified with tight stops under recent low of 1282. The R:R could be better on this trade but that's one of the drawbacks when traders wait for a breakout of the trading range as a confirmation to enter the market. There are ...

Zoen_Trieste Zoen_Trieste AAPL, 1D, Short ,
AAPL: APPLE Looking For A Pullback
92 0 3
AAPL, 1D Short
APPLE Looking For A Pullback

Apple went for the measured move after extended pullback consolidation. Achieving measured moves is usually followed by another round of pullback consolidation. Though the trend is up, short sellers can also make money as the price action shows a broad channel up. Though short selling in uptrends is a risky business, it seems reasonable to sell short around ...

mortdiggiddy mortdiggiddy GC1!, D, Long ,
GC1!: The path to 1500
86 0 3
GC1!, D Long
The path to 1500

One of the few times I get to use a Schiff Pitchfork . $GLD $GDX $JNUG $SLV $NUGT

mortdiggiddy mortdiggiddy EURUSD, 120, Long ,
EURUSD: First Retest Possible
443 0 6
EURUSD, 120 Long
First Retest Possible

First possible retest. If pitchfork fails here at the 200 Week EMA... bad things. $DXY $TLT $GLD

mortdiggiddy mortdiggiddy XPDUSD, 480, Long ,
XPDUSD: Time to buy?
50 0 2
XPDUSD, 480 Long
Time to buy?

Schiff fork guiding the way so far. Possible big inverse H/S. $GLD $TLT $DXY $EURUSD $USDJPY

IAmSatoshi IAmSatoshi BTCUSD, 1D,
BTCUSD: Potential Pitchfork To Watch
1518 6 28
BTCUSD, 1D
Potential Pitchfork To Watch

New PF to going into 2019? more here: https://www.youtube.com/watch?v=Y_SeD9ujTeY

Zoen_Trieste Zoen_Trieste USOIL, 240, Long ,
USOIL: USOIL Bears Fail Yet Again
148 2 3
USOIL, 240 Long
USOIL Bears Fail Yet Again

There's a constant inflow of demand for USOIL. Dips are being bought by trend continuation players without hesitation and the overextended state of this market is not scaring bulls away. Given the HHs and HLs, it seems reasonable to buy around 7150 with tight stops under recent lows around 7120. Lower probability set up with decent R:R.

ronfkingswanson ronfkingswanson BTCUSD, 240, Short ,
BTCUSD: Rinse, Wash, Repeat: the fractal road to 8K
103557 226 944
BTCUSD, 240 Short
Rinse, Wash, Repeat: the fractal road to 8K

(see related ideas below) Called the 17.2K bulltrap when folks were expecting to unload bags at 18-19K. Called the 9K low on the second selloff, when folks were clamoring for even more blood. Now we're repeating the same rebound, retrace, and collapse cycle on this pitchfork. This rally should get stuck under the old yellow triangle bottom, so no more than 14K. ...

cryptoplayhouse cryptoplayhouse XLMUSD, 1D,
XLMUSD: XLMUSD (Lumen) Stellar DWN2 $.0.38000 then 0.60ish
1106 6 14
XLMUSD, 1D
XLMUSD (Lumen) Stellar DWN2 $.0.38000 then 0.60ish

XLMUSD (Lumen) Stellar 05/01/18 9 p.m. EST by MMansfield. Hi trader friends! Stellar Lumen (XLM) appears to be at or near a Wave 3 high. This should be followed by a pullback to 0.3200 area (previous Wave 4 territory) then another wave higher that could take it into the 0.60s. REASONS: The longer-term cycle (blue) is strong up until mid-July so there is still ...

Zoen_Trieste Zoen_Trieste GS, 240, Long ,
GS: Goldman Sachs Anti Set UP
29 0 1
GS, 240 Long
Goldman Sachs Anti Set UP

GS seems to be attracting demand recently. The trend down is losing momentum and it might just be the time to enter an anti set up here for a modest 1.5-2R target. Though sellers can enter this market any time, it seems more probable that bulls will take this higher to the Warning Line.

mahdiyarandi mahdiyarandi XLMBTC, 240,
XLMBTC: XLM/BTC
191 1 2
XLMBTC, 240
XLM/BTC

I think STELLAR have always good news and good contract and I keep it in my basket always but this time I feel that we should be more patient xlm is on the wave C from second wave can go faster to finish it and start to run up but I dont think so!

HendricksUncorkded HendricksUncorkded CL1!, 1D,
CL1!: CL-WTI 5 Week Plan
263 0 4
CL1!, 1D
CL-WTI 5 Week Plan

Pure technical plan pending tensions in Middle East do not escalate. Short term H/S creating a medium term I/H/S to make new highs

mahdiyarandi mahdiyarandi STRATBTC, 240,
STRATBTC: STRAT/BTC DAILY TRADING
232 1 5
STRATBTC, 240
STRAT/BTC DAILY TRADING

I believe that STRAT is going up now and is full of symbol to growing up 25-30% profit would be easy in just almost one week

Fxprotrader Fxprotrader EURGBP, 240, Short ,
EURGBP: EURGBP: Key Level to Watch for Shorts
361 0 10
EURGBP, 240 Short
EURGBP: Key Level to Watch for Shorts

Price has breached below both the lower quartile of the upsloping median line set and a structure S&R level. There is a high probability that it will retrace to test the broken level and in such a case we better watch for a sell setup completion to join the upcoming selloff

mortdiggiddy mortdiggiddy EURUSD, 120,
EURUSD: Pitchfork setup
502 3 12
EURUSD, 120
Pitchfork setup

May be setting up here for the next leg up. The 1.128 extension bottom is perfect for this type of tool. $DXY $SPY $TLT $GLD

forker forker SNAP, D,
SNAP: SNAP at support and extended - LONG
287 10 4
SNAP, D
SNAP at support and extended - LONG

At the WL1, price is clearly extended and I look for a Trade up to the L-MLH at least. (if you don't know what L-MLH means, it's the Lower-Medianline-Parallel - checkout my free course). Another fact that I want to bring to your attention is, that price reacts very nice at the lines of the Fork - even with all the GAPS in between... I wish you all a happy and ...

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