It's not a question "if" forks work or not. You better ask: "How can I make them work for me". Watch the multiple entry points. Then watch, where you have logical targets. P!
Blue Median Line lower parallel test. "Bottom fishing" mode ON . Update of Informational only, not a recommendation to buy or sell any security.
Best Fit Pitchfork will be good for money management and additional trades ... established based on X-A move of Harmonic Scan
Some levels on watch, seasonality could suggest that a move lower is there to come. Monitoring support levels and if they hold.
It Never ceases to amaze me how accurate the Andrews Pitchfork is, of the Famous Genius Alan Andrews et al. Take a moment to research this Princeton professor who made all the Kennedy money in the 30's. There is limited information on youtube, etc but I highly recommend MarketGeometry.com run by Mr. Timothy Morge a trading legend and mentor. He has published a...
I had not clue about this chart. So, I was laying back, squeezed my eyes and let it shine on me (...nope, not smoked anything hehe...). Then it comes together, peace by peace. Here's how I approach any new analysis. - Swings & Pivots - Identify the trend and the flow - some support & resistance - action/reaction & forks - patterns...as far as I can see them...
I get a lot of pm from traders in the community, who ask me how to use the pitchforks the right way. Like every other tool, there is more than one way to use them and the results may differ. The best answer on how to use them is to choose the way that works the best for you but no matter which way you choose you definitely have to understand that by far the most...
A weekly chart and pitchfork using Black Monday as a starting point and the Dot-com Bubble/Bust as the top and bottom. You'll notice a lot of support levels created with this long term time frame (notes on chart). My favorite is the median line rejection just before the 2008 financial crisis. I've also found an indicator that has worked twice in the last two...