Excero

Is this a Proper use of a Pitchfork?

COINBASE:BTCUSD   比特币/美元
I have been reading up on pitchforks and have published this idea so as to get any input from the professionals.
Is this a proper use of a pitchfork?
What I get from this is Bitcoin             is trading in a range so far. I would be cautious about it crossing any of the lines as it either bumps up to it and changes or makes a drastic dive up or down.
I would welcome any comments about this pattern
Thank You
ok I will Thank You
回复
No sir, you are attempting to curve-fit price into a channel. Pitchforks are not channels, they give you a probable path of price based on a statistical edge that occurs between three extremes. I suggest that you search for Market Geometry on YouTube.
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mr.dmizer mr.dmizer
I need to clarify that the "path of price" lays not along the lines, but across them. Price must climb these lines in one direction, similar to a ladder. People really don't get that.
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