Double Upward Pointed Pitchforks
Price is currently sitting above (testing) a confluence zone between the median line of a longer term (macro) pitchfork and that of a short term (micro) pitchfork, both of which are slanted upwards (bullish).
The macro PF was recently validated with a second median line touch a few days back (eventually busting through it, making it new support). The micro PF has had several ML tests, and appears to be a strong magnet for the price at the moment.
This confluence of the median lines should prove to be strong support for continued upward movement.
The macro PF was recently validated with a second median line touch a few days back (eventually busting through it, making it new support). The micro PF has had several ML tests, and appears to be a strong magnet for the price at the moment.
This confluence of the median lines should prove to be strong support for continued upward movement.
Note
Trading these pitchforks is still proving to be quite profitable.Don't underestimate the power of calculating median lines and using their parallels.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.