Funny People, crazy people, simply follow some theory which does not work, I see a simple use of Pitchfork is understand the deviation from its peak difference but one person seems using it as a trend line , You can view his charts , he always uses it wrong and post charts which eventually fail to move or make to forecast
You can read this message and check the chart
01. Main Trend form Monthly it's downward
02. It has made and strong pullback at 1st place and then failed to hold and continued downward by giving and L type leg
03. I have market 1st peak down( 28 June 2018) where the MACD showed the divergence for upside and it went up very strong looks like the impulse
04. When it broke its point of impulse low and continued we understood its a push up before a continuation of the trend, Now again it's pushing up (8 Oct 2018)
05. This time its pushing weak price action, and there is no Momentum strength to say it's going to reverse now, its deep downward
06. It made move up and came down but it made Higher High, Giving us a Divergence upside in the Momentum, but there is a problem , the problem is the Price range is too low to consider it's moving upside as impulse so we identified it as Corrective structure for one more move down, and we are trading based on our trading principal
I hope you will understand how to identify real-time and take proper decision
Another part is Using of Pitchfork, its designed to identify the price deviation from its peak angle, it was believed its an alternate tool form BB without volume calculations in it
Hope you Guys have understood and taken better trade in case find any such difference in the Momentum and use the Pitchfork correctly
You can read this message and check the chart
02. It has made and strong pullback at 1st place and then failed to hold and continued downward by giving and L type leg
03. I have market 1st peak down( 28 June 2018) where the MACD showed the divergence for upside and it went up very strong looks like the impulse
04. When it broke its point of impulse low and continued we understood its a push up before a continuation of the trend, Now again it's pushing up (8 Oct 2018)
05. This time its pushing weak price action, and there is no Momentum strength to say it's going to reverse now, its deep downward
06. It made move up and came down but it made Higher High, Giving us a Divergence upside in the Momentum, but there is a problem , the problem is the Price range is too low to consider it's moving upside as impulse so we identified it as Corrective structure for one more move down, and we are trading based on our trading principal
I hope you will understand how to identify real-time and take proper decision
Another part is Using of Pitchfork, its designed to identify the price deviation from its peak angle, it was believed its an alternate tool form BB without volume calculations in it
Hope you Guys have understood and taken better trade in case find any such difference in the Momentum and use the Pitchfork correctly
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