Ethereum and the pitchfork problem.
Unlike my early ETC idea, this Ethereum chart was pitchforked retroactively.
For those unsure, the pitchfork is found to be one of the most powerful tools in your TradingView tool box.
A few tips for a first time pitchforker: first, utilize the options menu to extend your pitchfork in both directions. Draw your pitchfork from low to high to low. 3 lines you’ll want to pay attention to. For lack of precise diction, they shall be referred to as top line, bottom line, and median line. Median or meddle line is going to ideally act as a magnet. Drawing price to it.
When price hits top line, we would consider that a sell sign. Conversely when price hits the bottom line, we consider it a buy signal.
Problem: if median acts as a magnet, should price not then keep falling? Shrug. I’ll try a long here.
For those unsure, the pitchfork is found to be one of the most powerful tools in your TradingView tool box.
A few tips for a first time pitchforker: first, utilize the options menu to extend your pitchfork in both directions. Draw your pitchfork from low to high to low. 3 lines you’ll want to pay attention to. For lack of precise diction, they shall be referred to as top line, bottom line, and median line. Median or meddle line is going to ideally act as a magnet. Drawing price to it.
When price hits top line, we would consider that a sell sign. Conversely when price hits the bottom line, we consider it a buy signal.
Problem: if median acts as a magnet, should price not then keep falling? Shrug. I’ll try a long here.
Penafian
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