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Pitchforks

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.
praveen.bhatiya praveen.bhatiya BPCL, 1D, Long ,
BPCL: Engulfing @ significant Zone
374 7 12
BPCL, 1D Long
Engulfing @ significant Zone

It seems that 374 level is strong demand zone. Parallel Channel, double bottom, RSI coming out of overbought zone and latest Engulfing bar suggesting a long trade with small stop loss. One can easily expect 2.5 times reward of risk being taken in this trade. Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading ...

praveen.bhatiya praveen.bhatiya SIEMENS, 1D, Long ,
SIEMENS: Small risk 3LR Pattern/PF setup
72 0 4
SIEMENS, 1D Long
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 ...

praveen.bhatiya praveen.bhatiya HAVELLS, 1D, Short ,
HAVELLS: Pitchfork Short at UML
135 6 5
HAVELLS, 1D Short
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.

sandipan.mch sandipan.mch GRANULES, 1W,
GRANULES: Learning Wyckoff methods- 2.4 ,A future great trade possibility!
123 0 1
GRANULES, 1W
Learning Wyckoff methods- 2.4 ,A future great trade possibility!

Bullish butterfly in formation Disclaimer... not invested, waiting to bottom fish Not an investing/trading recommendation

praveen.bhatiya praveen.bhatiya APOLLOTYRE, 1D, Short ,
APOLLOTYRE: Action/Reaction Head & Shoulder Trade Setup
190 2 4
APOLLOTYRE, 1D Short
Action/Reaction Head & Shoulder Trade Setup

The stock has broken all time high but could not sustain. AR set is suggesting price reaction at current level. It is forming Head & Shoulder pattern. One can short the stock here for a target of 260 by providing a stop loss of 301 on closing basis. Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.

praveen.bhatiya praveen.bhatiya PTC, 1D, Long ,
PTC: Low risk Trade with GOOD RR ratio !
170 0 10
PTC, 1D Long
Low risk Trade with GOOD RR ratio !

There are multiple supports at current level suggesting a good possibility of emerging buy so one buy the stock as mentioned below. Entry 88.65 SL 86.40 Target 94.50 RR ratio 2.50 Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.

sandipan.mch sandipan.mch CDSL, 1D,
CDSL: Learning wyckoff's methods--A re-look at the Mammoth,CDSL
91 0 1
CDSL, 1D
Learning wyckoff's methods--A re-look at the Mammoth,CDSL

Disclaimer.. Not invested, tracking the fundamentals, not an investing/trading recommmendation Updated previous idea... https://in.tradingview.com/chart/CDSL/wjvq8fme-A-POTENTIAL-STEADY-FUTURE-COMPOUNDING-GIANT-IN-TROUBLE-CDSL/

sandipan.mch sandipan.mch DRREDDY, 1W, Long ,
DRREDDY: Quick gains possible of the pharma giant?
62 0 1
DRREDDY, 1W Long
Quick gains possible of the pharma giant?

Disclaimer... Not an investing/trading recommendation

sandipan.mch sandipan.mch GLENMARK, 1M,
GLENMARK: My future scrips of choice 1.0
43 0 0
GLENMARK, 1M
My future scrips of choice 1.0

Disclaimer... not invested... tracking fundamentals... Not an investing or trading recommendation

sandipan.mch sandipan.mch UNIONBANK, 1W, Long ,
UNIONBANK: Learning Wyckoff methods-1.9 Sick gains from Sick banks
38 0 0
UNIONBANK, 1W Long
Learning Wyckoff methods-1.9 Sick gains from Sick banks

Disclaimer..Not invested, not an investing/trading recommendation

sandipan.mch sandipan.mch SBIN, 1W, Long ,
SBIN: Learning Wyckoff methods 1.8 - SBI,New Demand in the driver seat
47 0 0
SBIN, 1W Long
Learning Wyckoff methods 1.8 - SBI,New Demand in the driver seat

Disclaimer...Invested, not an investing/trading recommendation

sandipan.mch sandipan.mch IXIC, 240,
IXIC: NASDAQ composite on a bearish cypher attack
50 0 2
IXIC, 240
NASDAQ composite on a bearish cypher attack

bearish divergence on oscillator Disclaimer... this is not an investment/trading recommendation

sandipan.mch sandipan.mch KRIDHANINF, 1W,
KRIDHANINF: KRIDHAN INFRA-BAT ACTION MAGNET MOVE ON FUNDAMENTALS
111 0 3
KRIDHANINF, 1W
KRIDHAN INFRA-BAT ACTION MAGNET MOVE ON FUNDAMENTALS

The core technical concept that the potential gartley can fail structure and fall into a extension pattern is being developed on the fundamental analysis....i will mentioned an example of such a failure of structure a little later in this description.. I expect the RSI BAMM trigger to activate at the potential reversal zone of the crab... It is prudent to ...

sandipan.mch sandipan.mch KRIDHANINF, 1W,
KRIDHANINF: KRIDHAN INFRA-BAT ACTION MAGNET MOVE ON FUNDAMENTALS
43 0 1
KRIDHANINF, 1W
KRIDHAN INFRA-BAT ACTION MAGNET MOVE ON FUNDAMENTALS

The core technical concept that the potential gartley can fail structure and fall into a extension pattern is being developed on the fundamental analysis....i will mentioned an example of such a failure of structure a little later in this description.. I expect the RSI BAMM trigger to activate at the potential reversal zone of the crab... It is prudent to ...

sandipan.mch sandipan.mch BTCUSD, 240,
BTCUSD: Revised projection in usd...
219 0 3
BTCUSD, 240
Revised projection in usd...

disclaimer.. no active trading.... no cryptocurrency in possession at present not an investing/trading recommendation this is accessory to the euro projection which i have done.... https://in.tradingview.com/chart/XBTEUR/g2dVc21j-A-Harmonic-projection/

sandipan.mch sandipan.mch CDSL, 240,
CDSL: A POTENTIAL STEADY FUTURE COMPOUNDING GIANT IN TROUBLE - CDSL
191 1 1
CDSL, 240
A POTENTIAL STEADY FUTURE COMPOUNDING GIANT IN TROUBLE - CDSL

I will soon do a complete fundamental analysis on CDSL on valuepicker and post the link to my thread here in the updates.. interested investors can track that or further charts in future which will be intermixed with fundamental analysis.. Here there is a potential extension harmonic pattern in formation- the bullish crab pattern, which is a very accurate and ...

sandipan.mch sandipan.mch XBTEUR, 240,
XBTEUR: A Harmonic projection
205 0 3
XBTEUR, 240
A Harmonic projection

A bullish butterfly/deep crab based Projection , also based on similar patterns in the past.. Disclaimer... this is not an investment/trading recommendation.. No active trading.. no cryptocurrency at present in possession

sandipan.mch sandipan.mch FORCEMOT, 1W,
FORCEMOT: Force motors- a cypher bubble possibility
88 0 1
FORCEMOT, 1W
Force motors- a cypher bubble possibility

Disclaimer..not invested ...not an investing/trading recommendation

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