Get started

Pitchforks

Pitchfork has been applied to the current price movement of BTCThis Pitchfork's performance in response to BTC's recent price movement suggests that it is a valuable tool for traders and investors. By providing reliable predictions of potential support and resistance levels, Pitchfork can help users make better-informed decisions about when to enter or exit the market, ultimately improving their chances of success. Disclosure: It is important to note that the analysis presented here is for informational purposes only and should not be construed as financial advice. The cryptocurrency market is highly volatile and unpredictable, and any investment decisions should be made after conducting thorough research and consulting with a financial advisor.
by cryptx
The S&P500 get's a fork in the middle of the roadAndrew Pitchfork on FX:SPX500 Andrew's Pitchfork, also known as the median line tool, is a technical analysis tool used by traders to identify potential levels of support and resistance for an asset's price. It consists of three parallel lines that are drawn based on three consecutive points in the price chart, usually a high, low, and another high (or vice versa). The first line, called the median line, is drawn from the high or low point to the midpoint of the other two points. The second and third lines are drawn parallel to the median line, passing through the other two points. The second line is drawn at the high or low of the price chart, while the third line is drawn at the opposite side of the median line, touching the price at an important level of support or resistance. The pitchfork is used to determine potential areas of price movement, based on the assumption that the asset's price will tend to trade within the channel created by the three parallel lines. If the price breaks above or below the channel, it may indicate a potential trend reversal or a breakout in the price direction. I use Andrew's Pitchfork in conjunction with other technical analysis tools to identify potential trading opportunities and manage my risk by placing stop loss orders and taking profits at predetermined levels. However, like any technical analysis tool, it should not be used in isolation and should always be used in conjunction with sound fundamental analysis and risk management strategies.
FX:SPX500
by armigoldman
AUDUSD short First time using Pitchfork indicators. We are getting closer to s/r level. Price has reached 1.382 fibo level and now reversing back as correction to finally reach 1.618 fibo level. I have pointed in a circle level where I have 4 conformations to enter: 1. s/r level 2. two pitchforks (50 and 30) crosses 3. 0.768 fibo level that was build on bearish impulse move 4. 1.618 level of a bullish impulse move (darker fibo). It's experimental trade. Let see how it'll work. Good luck:)
Short
by margarita_morozova
2
BTC Done or moar fun!If you find this info inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment! Also, check out the links in my signature to get to know me better! Bounce off of an area of interest I had been eyeing for awhile. Now I see 5 Elliott wave waves up, but is it done? 🤔 Seeing some confluence in the yellow box. Here too But if it breaks above that, next resist is in the 28k area. Break down, need some levels to turn flippers. 🐬 Break W4, impulse complete. Cheers!
COINBASE:BTCUSDLong
by CryptoKnee
Expanding Diagonal Scenario Overall, everything is going along with our predictions. BTC formed a bearish Seahorse , metamorphosing into a bearish Dragon , substantially achieving its target, and then testing one of the parallel channels effective for months. I presented the idea of forming a triple zigzag with a pitchfork, but the chart also seems different. If this 21400 level holds, the chart could form an expanding diagonal with the help of a harmonic bullish deep crab (green), up to approx. 22800 area, where the H & S's neckline zone, the pitchfork's Fib 2 level, and the 4H Ichimoku cloud are present. Suppose the new high fails to establish there. In that case, point (D) will be the final pivot of the expanding diagonal triangle into the 20500-20700 zone, where there is a confluence of many S&R elements (daily cloud, parallel channel, pitchfork, H&S' s Fib 1.618, and significant volume zone).
Long
by jackrabbitrage
XRP - I CAN HAZ GARTLEY NOW?Hey crew, forgive my radio silence here, coding up a storm and generally strapped for time but let's do a quick breakdown on this beauty eh? As I've repeatedly stated, XRP ALWAYS pumps before a dump. Here are some key points : XRP, similar to staked tokens has a massive escrow and when they release tokens, there's usually a distribution pattern shortly thereafter All the market-wide carnage from bankruptcies, fraudsters, SEC and regulatory uncertainty has clearly NOT yet fully manifested All "relief rallies" must come to an end and The Bear is NOT over (imho) So we've def got a Gartley now, no question and there looks to be a Wyckoff distribution painted on the chart here. I personally just stick to Fibs and Forks for my placements and use DCA always to hedge and minimize risks with the following portfolio objectives : 1. Take scalps 2. Increase holdings 3. keep portfolio "in profit" at all times using shorts to hedge against high probability down moves So that's it folks, hope you stay in the green and as always, not investment advice here, we still have a date with the 0.10 cent range :) ~ Box
by FudBox
3
$BTCUSD Golden Crossed!!!Ok, I know there is A LOT of technicals out there, Fibonacci, moving average, pivots, Elliot wave, RSI volume, price volume, etc., However, one that is sorta high up on the priority list is the Golden cross (50 day moving average crossing above the 200 ma). Any technician knows about.. the flip side is the death cross. Well Bitcoin just golden crossed this morning. So that’s now, the Dow Jones (golden X’d in mid December), the S&P500 (golden X’d on Friday 1/27/23) and Bitcoin..the Nasdaq has not crossed yet.
BITSTAMP:BTCUSDLong
by jgeno