Summary:
This is an experimental Pitchfork Grid System derived from multiple price action ideas:
1. Negative space extrapolation to create anchor points for uptrend pitchfork and downtrend pitchfork.
2. Pitchforks have Fib lines (dotted lines) for 0.382, 0.618, 1.382 and 1.618.
3. Notice how price reacts as lines cross from competing trend pitchforks.
The concepts here are difficult to understand at first; however, the alpha here is using the grid with additional TA to find which quadrants of the grid price is headed with high probability.
This is an experimental Pitchfork Grid System derived from multiple price action ideas:
1. Negative space extrapolation to create anchor points for uptrend pitchfork and downtrend pitchfork.
2. Pitchforks have Fib lines (dotted lines) for 0.382, 0.618, 1.382 and 1.618.
3. Notice how price reacts as lines cross from competing trend pitchforks.
The concepts here are difficult to understand at first; however, the alpha here is using the grid with additional TA to find which quadrants of the grid price is headed with high probability.
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.
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.