PitchFORK + PitchFAn is very acuurate When it comes to find the point of reversal.
In this chart one can easily find the point of reversal just by looking at important levels of pitchfork.
If pitch fork is drawn accurately it will definitely help you in your intraday/positional trading.
Draw pitchfor at daily time frame and then use it in your trading either...
My previous education idea on Fibonacci Retracement got some good response. Today, I’m back with another education idea, explaining an awesome tool called ‘Pitchfork’.
Alan Andrew, the creator of Pitchfork tool, got inspiration from Roger Babson’s action reaction lines for the idea of this epic Pitchfork tool. Likewise, Roger also got inspired from...
ZEEL is moving on a Modified Schiff Pitchfork , wherein the stock is taking multiple supports at 0.5 levels of Pitchfork.
Next time open a Long Position when the stock takes support of 0.5 levels of Pitchfork and retraces back up.
Here's something I've been using recently with andrew's pitchfork. If you use a 2x extension on the width rather than the pitchfork itself, then it often defines a trend line which helps to identify a head and shoulders pullback.
Ideally the head will go deep into the extension and then the right shoulder tags it after a retrace. The idea is the trade is entered...
Is BANKNIFTY' in Sell on Rise Mode?
Who protect BANKNIFTY' from falling?
#1. NIFTY' PVT' Bank: Struggling - Probability of Flat to "-VE" Return.
#2. NIFTY' PSU' BANK: Exhausted - Probability of "-VE" return.
Education Purpose Only.
The Nifty 50 index bounced off the lower parallel of the Wyckoff reverse-trend-channel. Here is the chart with pitchforks. Notice how price bounces off the first warning line of the green pitchfork.
Outlook is bullish for the Nifty as long as the recent lows are not violated...