This is my first Andrew's Pitchfork Trade so hopefully I've mapped it out correctly. Anyone else familiar with these feel free to chime in on the analysis.
Price held with our central median line quite well before breaking for the boarder. A parallel channel was drawn from the first decisive candle out side the fork, and our future entry was established at support. Price continued up the parallel for another impulse before failing out. We're now at the entry of the trade and waiting for it to break below AND- then close below. Once we have a candle closed below our entry ($323.80), I have my "stop" at previous resistance and T/P at previous support.
Price held with our central median line quite well before breaking for the boarder. A parallel channel was drawn from the first decisive candle out side the fork, and our future entry was established at support. Price continued up the parallel for another impulse before failing out. We're now at the entry of the trade and waiting for it to break below AND- then close below. Once we have a candle closed below our entry ($323.80), I have my "stop" at previous resistance and T/P at previous support.