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TCS Formed pitchforks chart pattern on 1 Hr chart
Trade: When the trend is intact, prices gravitate towards the median line . Hence, when prices reach the top trend line , take profits or short the market. Also, when prices reach
the bottom trend line , enter a long position, or close a short position.
Target: The targets for "Pitchfork" are usually at the median line . If the price does not stop at the median line , it will tend to move to the lower trend line (for shorts) or move to the upper trend line in case of a "long"
trade.
Stop loss: For "short" trades, place a "stop" order above the upper 'pitchfork" line, Similarly, for "long" trades, place a "stop" order below the lower pitchfork line
Trade: When the trend is intact, prices gravitate towards the median line . Hence, when prices reach the top trend line , take profits or short the market. Also, when prices reach
the bottom trend line , enter a long position, or close a short position.
Target: The targets for "Pitchfork" are usually at the median line . If the price does not stop at the median line , it will tend to move to the lower trend line (for shorts) or move to the upper trend line in case of a "long"
trade.
Stop loss: For "short" trades, place a "stop" order above the upper 'pitchfork" line, Similarly, for "long" trades, place a "stop" order below the lower pitchfork line
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