TCS Formed pitchforks chart pattern on 1 Hr chart
Trade: When the trend is intact, prices gravitate towards the median line. Hence, when prices reach the top trend line, take profits or short the market. Also, when prices reach
the bottom trend line, enter a long position, or close a short position.
Target: The targets for "Pitchfork" are usually at the median line. If the price does not stop at the median line, it will tend to move to the lower trend line (for shorts) or move to the upper trend line in case of a "long"
trade.
Stop loss: For "short" trades, place a "stop" order above the upper 'pitchfork" line, Similarly, for "long" trades, place a "stop" order below the lower pitchfork line
Trade: When the trend is intact, prices gravitate towards the median line. Hence, when prices reach the top trend line, take profits or short the market. Also, when prices reach
the bottom trend line, enter a long position, or close a short position.
Target: The targets for "Pitchfork" are usually at the median line. If the price does not stop at the median line, it will tend to move to the lower trend line (for shorts) or move to the upper trend line in case of a "long"
trade.
Stop loss: For "short" trades, place a "stop" order above the upper 'pitchfork" line, Similarly, for "long" trades, place a "stop" order below the lower pitchfork line