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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.
Dramti Dramti CHFJPY, 1D, Long ,
8 0 1
CHFJPY, 1D Long
CHF/JPY 15/07 - 20/07/2018

As can be seen on the chart, the volume on Sell positions are going down. In addition, the momentum is actually strong and Price is now testing the upper band of Pitchpork.

mortdiggiddy mortdiggiddy DXY, 120, Long ,
273 1 12
DXY, 120 Long
DXY Long?

Looks puzzling with that Month Pivot in the way. We shall see $EURUSD $TLT $USDJPY

Forex_Academy Forex_Academy XRPBTC, 1D, Short ,
176 1 3
XRPBTC, 1D Short
XRP/BTC above the first target

The crypto pair dropped further on the short term and now is almost to reach the 0.000069000 support. It seems a little oversold as the Bitcoin has posted little gains after the impressive drop. The perspective remains bearish, so the rate could reach fresh new lows. A valid breakdown below the 0.000069000 level will send the rate at least till the 50% Fibonacci line.

mortdiggiddy mortdiggiddy EURUSD, 60, Short ,
776 1 15
EURUSD, 60 Short
Retracement to 1.1600

With the 78.6 and Month CAM R3 rejection, I am looking for shorts. $DXY $TLT $GBPUSD $AUDUSD

mortdiggiddy mortdiggiddy USDCAD, 240, Long ,
378 0 12
USDCAD, 240 Long
Holding Support

Continues to hold around previous pivot high and Year CAM R3. $UWT $USO $DXY $TLT

28 0 2
2GIVEBTC, 1D Short
2GIVE/BTC trade setup

The crypto pair will drop aggressively after a valid breakdown below the 50% Fibonacci line of the major descending pitchfork. Price has rebounded today and is signaling a false breakdown below the confluence area. A further drop will be invalidated by a valid breakout above the SL and SL1.

408 1 7
DGBBTC, 45
DGB Predictions

More so for my own education than an idea for the community, but would love to hear thoughts. I see us coming to the tip of a symmetrical triangle as far as price actions as well as with the rsi, though the rsi shows we have a little more time to wait. I've also marked a a strong support and resistance zone for possible bounces.

Forex_Academy Forex_Academy ETPUSD, 1D, Short ,
78 0 1
ETPUSD, 1D Short
ETP/USD seems very heavy

ETP/USD should drop further if it will stabilize below the upper median line (uml) of the descending pitchfork. You can see that it has failed to retest the outside sliding line (sl) signaling a potentially significant drop. The major downside target it will be at the 50% line.

Forex_Academy Forex_Academy OMGUSD, 1D, Short ,
233 0 1
OMGUSD, 1D Short
OMG/USD breakdown in play

The crypto dropped significantly after the uptrend retest. It is pressuring the wl2, so a valid breakdown will open the door for more drops. It could approach the first warning line (wl1) if it will stabilize below the 150% line.

72 0 1
ETPBTC, 1D Long
ETP/BTC reached an important target

Price has really managed to escape from the extended sideways movement. ETP/BTC was attracted by the confluence area formed between the 50% line with the warning line (wl1). Only a valid breakout will signal a further increase.

mortdiggiddy mortdiggiddy GBPUSD, 240, Long ,
602 0 14
GBPUSD, 240 Long
Trying long again

1.3500 seems like a nice swing target to the previous high area. Note the Year pivots below. $DXY $TLT $EURUSD

NQ1!: Pitchfork Trading - Video 2
05:25
42 3 2
NQ1!, W
Pitchfork Trading - Video 2

Video Nr. 2 I continue the analysis from Video Nr. 1 and show you, why the market is so extremely stretched, and why you need to be super cautious these days. If you like to learn more about the Pitchforks and how they produce great trades, then here's how you can get your free course: 1. Klick the link at the bottom to get to our website. 2. Register for the ...

Forex_Academy Forex_Academy XMRUSD, 1D, Short ,
121 0 1
XMRUSD, 1D Short
Monero false breakdown?

The rate dropped aggressively but failed to close below the 150% Fibonacci lines. I've told you in the previous weeks that only a valid breakdown will confirm a further drop towards the warning lines (wl1).

1527 0 33
BTCUSD, 1W
The Pitchfork Top Call & Where Fractals Could Lead Us.

Experimental Chart. Due to lack of movment in the crypto market, I have been experimenting will less common tools to aid in technical analysis. The chart above shows a fully extended pitchfork that just about perfectly calls the top. Not only that but each additional level below that acted as support or resistance at one time or another, meaning this pattern will ...

599 2 14
SPX, M
S&P 500 - There's Order In The Universe

How many lines does one need to describe the markets? Well, if you know about the universal law of Action & Reaction, there's not much to draw. Keep it simple, but know what you draw and what to expect from. P! ...don't miss the ForkTrading BLUEPRINT on my website...learn to earn.

50 0 2
GOOG, D
Google back to balance

After price left the first HAGOPIAN, it reached the Centerline (CL.). After this first CL. touch, the reverse lasted not long, only to leave another HGPN to the downside. Now price approaches the Centerline again and we can now observe a potential reversal, or if it blows through, a trade to the upside. The blue dashed A/R's give us an idea, how price is ...

Forex_Academy Forex_Academy BTCUSD, 1D, Short ,
102 0 1
BTCUSD, 1D Short
Bitcoin downside paused

Bitcoin registered a minor drop today, but maybe the next hours will bring a significant movement again. I've told you in the last weeks that a valid breakdown below the lower median line (lml) will signal a breakdown below the 6000 psychological level. The rate could still increase only if the rate will stay within the ascending pitchfork's body.

98 0 4
CL1!, D
The ForPtions Trade In Crude Oil

Do you know what a ForPtions Trade is? It's a combination of two high probability methods - Pitchforks & Options. All we needed was our simple rules, a Options strategy and we where good to go. Nothing special, at least in the world of a ForkTrader. BUT a trader who is using standard technical analysis had little or no chance to see what developed on the chart ...

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