Wonderful how price reacts in the world of a pitchfork trader §8-)
The count (grey) 1-5 is NOT an Elliot Wave count.
It's just a simple observation from the inventor of the pitchfork, Dr. Allen Andrews. At P5, price has a very high tendency to reverse the trend. In a Bear Market, it would mean a strong rebound, before continuing to the downside.
Here price is approaching the potential P4, arriving at the orange centerline, the big Cahuna.
How do we know if price turns at this CL?
We don't know, until it's over. But that's OK. We know that we are in a pullback phase. So we have all the time to prepare to short again for a long ride down to P5.
Can this fail?
Sure, but very seldom.
Now what?
Relax, sit back, observe and watch how it unfolds.
Or even better, you're long from the first or second re-touch at the red centerline §8-)
Missed it?
You'd better learn how to use that pitchfork tool.
#WTpitchfork
The count (grey) 1-5 is NOT an Elliot Wave count.
It's just a simple observation from the inventor of the pitchfork, Dr. Allen Andrews. At P5, price has a very high tendency to reverse the trend. In a Bear Market, it would mean a strong rebound, before continuing to the downside.
Here price is approaching the potential P4, arriving at the orange centerline, the big Cahuna.
How do we know if price turns at this CL?
We don't know, until it's over. But that's OK. We know that we are in a pullback phase. So we have all the time to prepare to short again for a long ride down to P5.
Can this fail?
Sure, but very seldom.
Now what?
Relax, sit back, observe and watch how it unfolds.
Or even better, you're long from the first or second re-touch at the red centerline §8-)
Missed it?
You'd better learn how to use that pitchfork tool.
#WTpitchfork
ノート
Looking at the daily TF we have these most likely scenarios:ノート
Oups...the upper Medianline Parallel rejected price immediately.
🔱 Follow The Fork 🔱
👉 Avoid subjectivity.
👉 Find multiple R Trades.
👉 Trade the Medianles aka Pitchfork Edge
👉 Avoid subjectivity.
👉 Find multiple R Trades.
👉 Trade the Medianles aka Pitchfork Edge
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。
🔱 Follow The Fork 🔱
👉 Avoid subjectivity.
👉 Find multiple R Trades.
👉 Trade the Medianles aka Pitchfork Edge
👉 Avoid subjectivity.
👉 Find multiple R Trades.
👉 Trade the Medianles aka Pitchfork Edge
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。