Canada cleared the highs from earlier in the year and continues to follow a nice rolling chop style channel upwards. Pull backs are orderly and have nice frequency as you can see from the small downsloping fork with warning lines.
One more pull back to retest the multi-pivot support resistance area around 1.1220-.1.1275 would be a great opportunity to buy.
Looking at the tops of 2000, and 2007, it is interesting to see where we are 06. Nov 2014 in price and time related to these two former tops.
Calculating the time from the Sept. 2000 to the October 2007 top, and then extend the 85 bars from 2007 to November 2014. Markets can be due for longer correction. Adding the pitchfork shows the index streched on price....
Since the economy recovery from the 2008 crisis, stock index worldwide are skyrocketing, thanks to quantative easing programs and Zero-Bound Interest Rates. After ending QE, the next big action of FED will be to increase the interest rates, that could cause an end to bull stock market that prevails since August, 2012. Last week most of trade ideas published on...
There are still two pitchforks in play. On the bullish one price is heading for the median line, whereas on the bearish one price has broken through the upper median line parallel. Is it going to follow the red fork or the blue one? Both currencies (NZD and CAD) have become weak and their relative strength is quite equal. The long-term trend is still bearish, but...
Bounce on support-support and RSI breakout (Green Zone)
or
Die under resistance-resistance and RSI resistance (Red Zone).
In addition to these zones, the pitchforks can be used to predict other price movements.
There is still some more downside to be expected from this pair, pitchfork channel has been rejected on the 4H timeframe
as well as the ichimoku is still indicating down, until Chikou Span crosses price, I don't consider to go long.
this weeks event risk is not really going to send this pair any where to the upside, especially when we are expecting lower results...
This month's price action in the DXY has been extremely strong. It's hard to appreciate it from this chart, but there has been bull day after bull day recently.
Should the financial crisis highs of 2009 be taken out this time, we will have a very interesting setup for a strong multi year move up in the dollar. The coiling price action since 2008 could provide...
- Price found resistance on previous P (1.27100) which has now turned R1 and on the midline of the pitchfork.
- Price below descending trendline
- The Stoch RSI is showing the next move down.
- Stong US data this week will probably send this pair lower
These 4 factors combined suggest selling at R1 or even P
I see no reason to go long on this pair untill it...
Please see at previous Analyze:
PITCHFORK ANALYZE OF GOLD (1) and (2)
Gold touch the bottom line of triangle. Break out or Reversal? maybe break or maybe reversal....
I don't see a trade here that I like, but I thought the chart was worth sharing. Aussy melted down swiftly after breaking its old range. Price often doubles the range after a strong breakout. My gut feeling is there is more downside, but I think price needs to coil a bit and store up some more energy to fall more. We'll keep an eye on it for a great trade with...
I wanted to share this trade idea because its a great example of how to manage your trades once the market moves in your favor.
Notice that since I got in a big hurry to get in this trade, my entry, while decent, could have been much better. If I had just waited a few more days with a nice limit order sitting on the red sliding parallel, then I would have had...
USO has broken it's uptrend a few weeks back, and since has been heading violently lower with no signs of stopping, at least not yet. Not in my eyes. I had a plethora of converging indications, so I've marked them in the chart A - F, and then explained my trade setup. Good luck.
A) RSI has broken above the 35 level, but this is likely because it bounced a bit...
After the large up move from A to B price has started to consolidate. Rather than find support at the lows at C, price has blown through those lows and the .382 retracement. Median line theory tells us that if price passes through one line of a median set, it will likely reach the other.
Since there seems to be no end in sight to the down move, since we are...
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. Good Luck
Bitcoin price has fallen through all the triangles drawn on this chart - including the big green symmetrical triangle based on the $339.79 low.
Bitcoin price failed to reach escape velocity after breaking out of Andrews' Pitchfork and could never break above descending blue price trigger line. At this point, there is the possibility that price falls back into the...
Idea is based on a combination of Median Line Analysis and Fibonacci ratio's. The rationale behind this technical analysis is shown on the chart along with specific targets. Good luck
The CAD has been relatively neutral (though strongish during the correction), whereas the JPY has kept on being strong in the long-term perspective. In terms of the cycles of momentum of both currencies, the CAD seems to be likely to complete its rising phase and the JPY about to strengthen a bit. The trend is still down. Now that price has approached the upper...
Idea is based on a combination of Elliot Wave theory, Median Line Analysis and Fibonacci ratio's. The rationale behind this technical analysis is shown on the chart along with specific targets. If you are about to copy this setup, please do so at your own risk. Good luck
