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Pitchforks are used as part of a popular analysis and trading technique. In essence, there are 3 key elements to it: 2 outside parallel lines that provide support and resistance and a median line in between them. To use a pitchfork correctly, identify 3 points that are consecutive highs and lows, where the first point represents the start of a trend. The median line connects the first point to the midpoint of the other 2. Additional lines can be added at a set number of standard deviations from the median, forming parallel trend channels.

Pitchforks can be used to identify buying and selling opportunities at those lines (for trading bounces or breaks), depending on the specific rules of entry and exit a trader may have. Conservative traders will look for additional confirmation. Apart from Andrew's Pitchfork there are variations like the Schiff Pitchfork, the Modified Schiff pitchfork and the Inside Pitchfork. TradingView has smart drawing tools for all of these techniques and there is a popular chat where users share pitchfork-based ideas.
58 0 2
MAYURUNIQ: Observation for Investment.

Candle Pattern: Harami Cross Bullish. Volume: More than 3X 20d avgerage. Observed Divergence in some of the technical indicators & oscillators. ( RSI , MFI, OBV, W%R etc.) Potentially Strong Above @ 418 - @ 420Treat as Swing Trade Hurdle level. Once closed above @ 420 with Volume Strong UP move. Witnessing Strong Volume in Last trading session. Regular Dividend ...

434 2 7
Bank Nifty - Pitch Forks Analysis.

Positional View. Other Details Mentioned In Chart. Risk Reward Favourable. Please Consult Your Financial Advisor Before Taking Any Decision. I am not SEBI Registered Financial Advisor.

praveen.bhatiya praveen.bhatiya MARUTI, 1D, Short ,
301 8 5
MARUTI, 1D Short
Action-Reaction setup as taught by Dr Andrews

We can draw beautiful Action/Reaction setup which is suggesting a price reaction at current level therefore one can book the profit of their long position and be ready for shorting the stock. Those who want to learn and practice it I am giving guidelines as given in his course material First we draw a Multi Pivot Line : A line drawn across 3 or more pivots ...

323 2 7
Small Risk Good Risk to Reward Trade

One can sell BankNifty Future at current level with the following details Entry 27080 SL 27290 Target 26450/ 26260 RR ratio 3 Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.

133 4 3

The Stock has broken the Double bottom neckline and traded above it so we can conclude that it has changed its bearish behaviour. Price us retesting the previous bottom and bounced from there. RSI is healthy. We can frame a long trade with the following details Entry 398 SL 379 Target 424/440 PF setup may guide the price movement and target. Disclaimer : All ...

safri safri AXISBANK, 15, Short ,
78 0 4
AXISBANK, 15 Short
Axis Bank - 15 Mins - Pitchfork setup

Please refer chart... Thank you.

praveen.bhatiya praveen.bhatiya IGL, 1D, Long ,
183 0 5
IGL, 1D Long
Pitchfork Long Setup

I've observed the Pitchfork is catching the price movement nicely so we can frame a trade. It has bounced from the lower median line given good opportunity to go long with small sl. One can buy it now for a target of 288. Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.

pratik2358 pratik2358 TECHM, 1D, Long ,
159 0 7
TECHM, 1D Long
tech m , weekly levels

the stock had not performed yet , and is one of the most badly beaten stocks in the IT sector thus , now to maintain the index the stock need to perform and current structure as far as its above 650 looks very well!

praveen.bhatiya praveen.bhatiya ALBK, 1D, Long ,
133 0 8
ALBK, 1D Long
Pitchfork Good Risk to Reward Trade

Pitchfork is catching the price movement nicely. It has broken the LML* but immediately came back into it thus showing the demand at current level. One one can take small risk of low of today as SL and buy the stock. We can expect the target of 46.80 which offers a very good risk to reward, so it looks OK to go for contra trend trade. I am not expecting a trend ...

DSKF16 DSKF16 UPL, 1D, Long ,
91 0 0
UPL, 1D Long
UPL: Good Monsoon & 2019 GE Lift the Counter.

Detailed mentioned & Plotted on Chart. @ 711 to @714 Crucial. Above (By Closing) Confirmed Trend Reversal.

297 7 6
Inverse Head & Shoulder Pattern PF

The stock has formed Inverse Head & Shoulder Pattern but its neckline is steep up sloping so seems little tricky to trade it. I would buy it at current level by providing a SL of recent low and look for a target of Median Line touch as Pitchfork seems to be OK. RSI is also above 50 confirming the decision. Disclaimer : All ideas and comments are my personnel ...

127 0 4
PF setup confirmed by Hanging Man

Price movements are being captured nicely by a down-sloping Pitchfork. Bearish Hanging Man candlestick pattern is confirmed by red candle today so one can short the stock by providing small SL of 305. Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.

260 0 4
PF Demand Zone Double Bottom Confluence

Pitchfork seems to be catching the price movement well and a good demand is observed at current level. RSI is also out of Oversold zone. Trading setup looks attractive with affordable SL as the details given below Entry 167, SL 161, Target 186. It is worth taking small risk that offers a good Risk to Reward ratio of above 3. Disclaimer : All ideas and comments ...

pratik2358 pratik2358 ESCORTS, 1D, Long ,
175 0 6
ESCORTS ...because its mansoon !!

mansoon season generally bring rally to such stocks!!!!

praveen.bhatiya praveen.bhatiya CIPLA, 1D, Long ,
307 4 11
CIPLA, 1D Long
PF/RSI reversal setup

The price has been forming Right-Angled and Descending Broadening Formation since last 6 months now it may try to touch the other side of the pattern. Interestingly it makes good up move whenever RSI comes back from oversold zone marked in the chart. Currently it is in the same situation. Pitchfork seems to be good catching the price movement and the trade is ...

safri safri NIFTY, 1D, Short ,
310 8 7
NIFTY, 1D Short
NIFTY - Signs of Weakness

Please refer chart for the analysis.. Thanks..

140 0 4
Small risk 3LR Pattern/PF setup

The stock is in downtrend but it has made a 3LR pattern yesterday. One can use the today's dip to buy the stock for a short term target of 1100 by providing small stop loss of low of yesterday. it offers a good RR ratio of above 3. Risk 20 Expected reward 65 Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading ...

171 6 5
Pitchfork Short at UML

Pitchfork is catching the frequencies of price movement. It has retested the Upper Median Line and engulf the previous bar. It looks a good setup to short the stock for a target of 512.50. RSI is also confirming the shorting. Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.

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