Following ideas help develop a short trade for XAUUSD.
1. Price encountering triple intersection of lines at D and creating a bearish candle with strong selling pressure - Red Pitchfork - Black Channel - Inward parallel line of Blue Pitchfork 2. Low of Bearish candle at D is broken indicating the start of downward moment of price 3. 2nd Degree Bearish continual divergence observed in Blue and Violet arrows
Entry: 1800 to 1797 Sl: 1806 Target: 1780
This is for educational purpose only.
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SL triggered. Sometimes, we do everything right and yet price displays something unexpected. That is part of game. Waiting for next opportunity.
Is there anywhere else where u post ur trade analysis
Karthiktinku
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@kannantraders1990, I have a dedicated you tube channel 'Trade Blasters' wherein I post videos with ideas about different techniques and offer one-to-one training as well.
kannantraders1990
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I love pitchfork analysis but very does that with hyper integration .
Karthiktinku
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@kannantraders1990, Using Pitchforks is altogether a different subject.5 different types of Pitchforks are employed as it may be required.