Multiple Pitchfork Trading

Abstract

Multiple pitchfork trading appeals to the traders to achieve ever-greater profits, but very few of them have understanding of the best ways to analyze a multiple pitchfork formation. A chart with multiple pitchforks criss-crossing helps in understanding the market flow. It systematizes the apparent chaos of the market, turning it into an environment where it is much easier for the trader to make a decision. When using multiple pitchfork strategy, a trader's attitude must be adapted to both the type of the market and the specific situation that the trader is faced with. The methodology of pitchfork trading is based on a few criteria of a structural and dynamic nature, and this chapter presents how to plan, draw and manage multiple pitchforks. This chapter discusses several priorities to consider when building multiple pitchforks.