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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.
sandipan.mch sandipan.mch SANKHYAIN, 1W,
SANKHYAIN: SANKHYA INFOTECH- A true multibagger/ persistent compounder
33 0 2
SANKHYA INFOTECH- A true multibagger/ persistent compounder

BSE:SANKHYAIN we have got 2 alternate plans here... 1. the drop stops at the red marked level...78.70 which is the weekly pivot/0.618 fibo level/200day MA has formed a mark there only as a support/the 382 median line of the pitchfork.. 2. drop goes even deeper to 53.55 to complete a ABC with 0.886 retracement, also the weekly S1 and the outer ML of the ...

joejonjohn joejonjohn GC1!, 1M, Long ,
25 0 1
GC1!, 1M Long

https://www.tradingview.com/x/uJbW3fKW/ As you can see from the chart, by using Andrew's Pitchfork indicator we can assume long position for gold in monthly chart. Trade at your own risk.

sandipan.mch sandipan.mch HCC, 1W,
HCC: The Sick Infra Giant HCC-A Massive Compounder in disguise..
27 0 1
The Sick Infra Giant HCC-A Massive Compounder in disguise..

NSE:HCCBSE:HCCSchiff pitchfork play... Disclaimer.. Invested and averaging down, Not a trading/investing recommendation...

nmholtgraves nmholtgraves BTCUSD, 240,
BTCUSD: Bitcoin-What Next?
242 0 3
Bitcoin-What Next?

Good Evening! This is an analysis of COINBASE:BTCUSD. We're using a four hour chart, 50 EMA, 200 EMA, Fib Channel, MACD, Andrew's Pitchfork, trend-lines, H&S Patterns, and just a couple of flags ;) Let's back up to late-January where we started to form the first shoulder in the inverse H&S pattern. We finished that in early-March. Keep this in the back of your ...

kdenery kdenery BTCUSD, D,
BTCUSD: BTC Logarithmic Pitchfork Channels (Bullish)
295 0 2
BTC Logarithmic Pitchfork Channels (Bullish)

Today I present to you an alternative way to view my Bullish Case for Bitcoin based on a logarithmic pitchfork channel I've found BTC to run in. This should also serve to illustrate why this most likely IS just a correction, if not a long and painful one. Check out my main post, The Bullish Case for Bitcoin for a more detailed write up on this outlook, but ...

IAmSatoshi IAmSatoshi PRO BTCUSD, 1D,
BTCUSD: Will it hold?
5644 12 73
Will it hold?

They dont call me 33kByJuly for nothing...

ronfkingswanson ronfkingswanson TOP BTCUSD, D, Short ,
BTCUSD: Correction continues to 8K, too heavy for bounces anymore
57062 158 328
Correction continues to 8K, too heavy for bounces anymore

We've been on this road since the ATH, but the exact route we would take on the way has been cause for much debate. We had one bull trap at 17.2K, but everything since has been heavy. Even my own forecasts for a momentary sunny trip to the topside of the pitchfork (before more winter) have fallen flat as we just keep slumping to the bottom with greater velocity. ...

kdenery kdenery BTCUSD, 1D,
BTCUSD: BTC Logarithmic Pitchfork Channels (Bearish)
307 0 5
BTC Logarithmic Pitchfork Channels (Bearish)

Based on a log channel I show much more of in the related post below, BTC Logarithmic Pitchfork Channels (Bullish), and assuming Bitcoin needs a lot more time to consolidate, I could see us dropping down to channel 3, and possibly even a brief panic sell dip into 4. There are many ways we may get down there, as illustrated but the mess of arrows, but I think the ...

FB: Drops and pops are news driven? I don´t think so...
156 0 1
FB, 1W
Drops and pops are news driven? I don´t think so...

FB offers a perfect example of how the market moves much earlier than the positive or negative news appear. Remember: when the news appear, everybody knows what happened. So, there is no point and no profit for anybody as very few left to buy or sell something which has already been bought or sold.

ronfkingswanson ronfkingswanson TOP BTCUSD, 240, Short ,
BTCUSD: Rinse, Wash, Repeat: the fractal road to 8K
102421 226 938
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. ...

veryevilone veryevilone PRO BTCUSD, 1D,
BTCUSD: A new sin
474 0 8
A new sin

It is a sin to be bullish on Bitcoin. This is why it dropped from $19k to about $7k. You were punished for your greed. Question is if the punishment is over and the new sin can begin.

ronfkingswanson ronfkingswanson TOP LTCBTC, 1D, Long ,
LTCBTC: LTC/BTC entering the thin upper atmosphere, ATH in view
9955 19 72
LTC/BTC entering the thin upper atmosphere, ATH in view

We've been stuck under a local ceiling of 0.02 for almost a year. Ranging sideways, just hopping up and down the levels. But now that the ratio has definitively popped above that ceiling, the obvious question is, "how high can this go?" Most exchanges open today only have data going back to the highest peaks of 0.033, so that's an obvious resistance level. I ...

MarcoTonetti MarcoTonetti TRXETH, 180, Short ,
681 0 7
TRXETH, 180 Short
TRXETH | Dump & Dip

As you can see in the Pitchfork TA, TRON could quickly Dump to reach a strong target resistance before the new Dip. This Dump & Dip is related to the ETHUSD trend.

Nahmar Nahmar USDZAR, 1D, Long ,
USDZAR: USDZAR, Pitchfork Analysis, Daily.
120 0 2
USDZAR, Pitchfork Analysis, Daily.


XxTooAnxiousXx XxTooAnxiousXx STEEMBTC, 120, Long ,
STEEMBTC: Are you in on STEEM??
248 2 3
STEEMBTC, 120 Long
Are you in on STEEM??

On my one day chart, STEEM has been holding above a long-term support line below the .382 on my fib extension. Remaining in the green channel of my pitchfork for the better part of the last 2 months this coin looks set to see a possible 10-20 percent rise within the next month with potential to rise significantly beyond that if it breaks resistance. Zooming into ...

ronfkingswanson ronfkingswanson TOP BTCUSD, 240, Long ,
BTCUSD: The case for a short-term rally to 15K (with Weiss Rocket Fuel™)
53679 212 294
BTCUSD, 240 Long
The case for a short-term rally to 15K (with Weiss Rocket Fuel™)

We've solidly settled the recent 10K bottom, and finally popped above the major 11,100 S/R line (from the big ATH selloff bottom). Next challenge is breaching the yellow downtrend shoulder line at 12K, which also happens to be where the pitchfork median is waiting. Note the red circle both here and back on Jan 2nd when we rallied from the same crossing point. **If ...

theFXcoach theFXcoach PRO DJI, 1D,
DJI: Dow Jones Biggest Drop Ever ... captured by 2 year old pitchfork
593 1 17
Dow Jones Biggest Drop Ever ... captured by 2 year old pitchfork

See this all the time, people think the markets are fundamentally driven

seventhwhiskey seventhwhiskey PRO LTCUSD, 120,
LTCUSD: Crypto still in downtrend.
196 0 4
Crypto still in downtrend.

BTC and LTC on the same chart, still in same downtrend. LTC riding the top of the channel down right now, BTC solidly in the middle and still well above mean trend from last year. Still plenty of room to swing trade, but be conservative with your risk. We have the potential to fall 20% in the next 45 days. A better deal is on the way.

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