Pitchfork analysis 101
Updated: Aug 8, 2020
Let us start from the beginning.
Pitchforks are made from plotting the swing highs and swing lows of price action. We can also refer to these extremes as "zigzags".

Now what you can do is manually plot a pitchfork as follows, where you can anticipate the resistance and support of the next zigzag.

We see how we've created a pitchfork by applying it to the zigzag high and low?

An example how the pitchfork can be used for supports and resistances.

Clearly, we see price is in an uptrend with these nice supports below. We can think of the median line as a magnet.
To add a layer of confluence we will introduce another type of pitchfork called the "Schiff Pitchfork"
These are generated by plotting the anchor on the halfway point of the zigzag, as follows:
