Modified Schiff Pitchfork

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glennmercer glennmercer PRO ZXY, 240, Short ,
ZXY: Kiwi Respecting Modified Schiff in Exanding Wedge $NZD $ZXY
78 0 14
ZXY, 240 Short
Kiwi Respecting Modified Schiff in Exanding Wedge $NZD $ZXY

Bias is toward the downside as we see the kiwi respecting a modified schiff through a potential final leg of an expanding triangle. If top resistance is broken, this bias will be re-evaluated. For now, target is near bottom trendline and bottom median line parallel.

Fxprotrader Fxprotrader PRO GBPNZD, 30, Long ,
GBPNZD: GBPNZD Pending Bullish Cypher Pattern
283 0 10
GBPNZD, 30 Long
GBPNZD Pending Bullish Cypher Pattern

In case price retraces to the lower lower parallel of the modified schiff we will have the completion of a bullish cypher pattern. I will go long with sl and tp as shown at the chart

Fxprotrader Fxprotrader PRO USDCAD, D, Long ,
USDCAD: USDCAD Bullish Cypher Completion at Slide Parallel
361 3 15
USDCAD, D Long
USDCAD Bullish Cypher Completion at Slide Parallel

Price has retraced to the slide parallel of an upsloping median line where we have the completion of a bullish cypher pattern. We may see that at the slide parallel price has been rejected twice in the past so most likely this pattern will work great and we may see price jumping from D point. If you can't afford placing sl below X point, watch for a buy setup at a ...

Fxprotrader Fxprotrader PRO USDCAD, D, Long ,
USDCAD: USDCAD Price At Key Buy Level
296 0 18
USDCAD, D Long
USDCAD Price At Key Buy Level

Price has retraced to the lower parallel of a modiffied schiff pitchfork where we have previous structure and we should start watching for a buy setup completion. In case that price continue dropping, if it reaches the slide parallel of the set we will have the completion of a bullish cypher pattern. That would be a good buy opportunity too.! Cypher ...

Fxprotrader Fxprotrader PRO USDJPY, 60, Long ,
USDJPY: USDJPY: Nice Level To Watch For A Buy Setup
748 2 23
USDJPY, 60 Long
USDJPY: Nice Level To Watch For A Buy Setup

Price is moving in a corrective structure after an impulse up move, and is now heading to the lower parallel of an upsloping modified schiff pitchfork with an active slope. If price reaches the parallel we should start watching for a buy setup trying to catch the next impulse with a tp at the median line. If we identify no setup at the parallels , we should wait ...

ForceFollower ForceFollower NZDJPY, 240, Long ,
NZDJPY: NZDJPY In a Strong Trend
234 10 8
NZDJPY, 240 Long
NZDJPY In a Strong Trend

Now that the kiwi got stronger, NZDJPY got into currently one of the strongest trends, at least temporarily. As price returns to the pitchforks' junction I think new buying opportunities should show up. Worth keeping an eye on this market next to the November fx leader - USDJPY. The chart presents three forks drawn with the same method: Modified Schiffs with ...

ForceFollower ForceFollower EURJPY, D, Short ,
EURJPY: EURJPY Trending Down
338 29 11
EURJPY, D Short
EURJPY Trending Down

This currency pair is in a relatively strong down trend, following a modified Schiff. The EUR is still pretty weak, whereas the JPY is the strongest of the major currencies. Now that the major low to the left has been taken out, I expect to see new lows. There should be some support around 135.25, coming off the prior highs, but it can dip as low as 134.

HamzaLeith HamzaLeith NZDUSD, D, Short ,
NZDUSD: NZDUSD SHORT LONG SETUP
236 5 6
NZDUSD, D Short
NZDUSD SHORT LONG SETUP

IDEA IS BASED ON A COMBINATION OF ELLIOT WAVE THEORY AND MEDIAN LINE ANALYSIS. THE RATIONALE BEHIND THIS TECHNICAL ANALYSIS IS SHOWN ON THE CHART ALONG WITH SPECIFIC TARGETS. THIS IDEA IS NOT MEANT AS TRADING ADVICE!! IF YOU COPY MY SETUP PLEASE DO SO ON YOUR OWN RESPONSIBILITY. GOOD LUCK

HamzaLeith HamzaLeith EURGBP, W,
EURGBP: EURGBP COMPREHENSIVE LONG TERM FORECAST
770 0 9
EURGBP, W
EURGBP COMPREHENSIVE LONG TERM FORECAST

Idea is based on a combination of Elliot Wave Theory and median line analysis. The rationale behind this technical analysis is shown on the chart along with specific targets and stop loss. Unfortunately due to the dynamic nature of my entry point, for the short setup, I can not give you an exact stop loss. Good Luck guys.

HamzaLeith HamzaLeith BTCUSD, 240, Short ,
BTCUSD: BTC Going down!
468 4 6
BTCUSD, 240 Short
BTC Going down!

Idea is based on median line analysis, Bollingerbands are used to identify reversal signals and breakouts/breakdowns. The rationale behind this technical analysis is shown on the chart along with concrete targets and stop loss (a close above it invalidates the idea. Good luck guys. Appologies for the font size somehow it is way bigger than was shown on my screen!!!

HamzaLeith HamzaLeith USDCHF, 240, Short ,
USDCHF: USDCHF short setup
128 1 2
USDCHF, 240 Short
USDCHF short setup

Price has tested a sliding parallel of the slope( that dates back to 05-22-2013) multiple times and couldn't close above it. Additional reasons for entry can be found on the chart. Good Luck

ForceFollower ForceFollower CHFJPY, 240, Short ,
CHFJPY: CHFJPY Down Trend Continuation
155 5 2
CHFJPY, 240 Short
CHFJPY Down Trend Continuation

Current price action seems to be following the slope of this modified Schiff Median Line set. Has it found support yet? I don't think so, as the potential buyers would have a problem with placing their stops here, so I expect a further decline. The CHF continues to be very weak and its momentum is now flagging. The JPY is doing quite well, it is strong and gaining ...

ForceFollower ForceFollower AUDJPY, 240, Long ,
AUDJPY: AUDJPY Done Correcting?
303 24 5
AUDJPY, 240 Long
AUDJPY Done Correcting?

This pair seems to be finally done correcting. Has found support at the sliding parallel of a modified Schiff pitchfork. If it holds, we should see a rally up to the 95.75 level, or perhaps even to 96. Otherwise, the correction will continue to reach 94.22 or (less probable) even the lower median line parallel. ----------- Disclaimer: There is a very high degree ...

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