Two potential new price/time relationship trajectories that may or may not work out to be of any value in the future. Both need a little more "play" (tests and reactions) to their respective median lines to demonstrate that they have some predictive value.
However, if either of their lines hold up any kind of reactive pattern to price, either as support/ resistance or as a line of symmetry in which price swings roughly equally above and below, and price ends that relationship, then the pitchfork has served its purpose of demonstrating a "change of price/ time behavior" and is cluing us in to a potential major price pivot and perhaps even change of long term trend.
It may be necessary to play with different price pivot levels to find a pitchfork that fits the current price behavior. Here, I use the all time high as a pivot to both to the pitchforks, but it may not be a good pivot for either of them. That, we may not know for sure until we get some more price action to build our pitchfork from.
However, if either of their lines hold up any kind of reactive pattern to price, either as support/ resistance or as a line of symmetry in which price swings roughly equally above and below, and price ends that relationship, then the pitchfork has served its purpose of demonstrating a "change of price/ time behavior" and is cluing us in to a potential major price pivot and perhaps even change of long term trend.
It may be necessary to play with different price pivot levels to find a pitchfork that fits the current price behavior. Here, I use the all time high as a pivot to both to the pitchforks, but it may not be a good pivot for either of them. That, we may not know for sure until we get some more price action to build our pitchfork from.
