I may have just drawn the pitchfork incorrectly, but if not I'd say this is a clear example of a broken pitchfork. It failed the retrace to the centerline and on the retrace it blew through the upper bound. I'm not going to trade this. If it re-enters the pitchfork in a day or two I'll reevaluate.
I'm not as hopeful for NZDUSD. I'm waiting for it to test the lower bound of the pitchfork for confirmation before I go anywhere else with it.
I've seen bullish and bearish calls for GBPJPY for the next week. I'm just going to watch my pitchfork. There are multiple confirmations on the lower bound but the MACD and RSI are not favorable on the 4H or D charts. I prefer a MACD flip and RSI oversold before entering a long. I will monitor GBPJPY to see if it maintains this pitchfork and if the indicators...
Put a pitchfork on USDCAD. It started retracing back up at the 0.5 deviation so it's not the strongest pitchfork right now. I would prefer to see at least two more confirmations on the upper bound before taking a short. I placed an alert above the centerline and will be watching USDCAD for the next week.
Here is a closer look at this ADA 1 day Binance chart. As you can see, ADA is in a massive Descending Triangle Pattern. A Descending Triangle Pattern is potentially a Bearish Continuation Pattern. Note that ADA is still ABOVE its Longterm Pitchfork Median Line on this 1 day timeframe. ADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA for...
crab harmonic pattern: X=$13.77 AB=0.38 XA BC=0.38 AB 1.6 BC=$0.3 2 BC=0.5 2.24 BC=$0.68 2.6 BC=$1.1 0.78 XA=$2.79 3.6 BC=$3.99 0.88 XA=$5.89 4.23 BC=$8.81 1.13 XA=$36.2 1.27 XA=$104 6.85 BC=$252 1.41 XA=$292 1.6 XA=$1377
0.61 5-i=99.18 0.78 5-i=108.4 butterfly harmonic pattern: X=68.29 3-4=0.78 X-3 4-5=0.88 3-4 0.61 5-i=99.18 0.78 5-i=108.4 0.78 4-5=85.85 0.88 4-5=82.23 0.78 X-3=78.34 0.88 X-3=73.47 1.6 4-5=60 1.27 X-3=57.35 1.6 X-3=2.24 4-5=45.9
OXY Weekly - EDUCATIONAL only - Support, Resistance, Confluence, Clusters, Fibonacci Retracement & Extension, Pitchfork, Gap - Hope it Helps, Good Luck
As you can see, ARPA is moving in a pitchfork in the weekly time frame. EMA 100 holds it and can act as our final support. So here can be a low-risk area with a ✅ great risk/reward ratio. We can expect it to rise to the median line of the pitchfork and our ⛔ stop-loss can be set under the EMA 100. Try to accumulate it in this area and hold it for the coming weeks...
crab harmonic pattern: X=$271 AB=0.61 XA BC=0.38 AB *1.6 BC=$69.2 0.78 XA=$69.5 0.88 XA=$131.5 2 BC=$133.6 2.24 BC=$201 *2.6 BC=$387 1.13 XA=$622 1.27 XA=$1538 *3.6 BC=$2163 1.41 XA=$3705 4.23 BC=$6265 *1.6 XA=$13943
starting from WEEKLY chart 10 decemeber 2018 considering 12345 waves it ended on 08 nov 2021 considering it as impulse waves and with that consideration and watching price action CORRECTIVE ABC was formed and connecting fib retracement from A to B, C wave was ended on 1.6 retracement which is a textbook projection on DAILY chart marking shicff...
I've been posting ideas for weeks now that this was the bottom. Now i see three probable areas to take profit on your holdings we'll come back when it happens. Don't try to fomo in on alts as the time for buying was when $BTC was ranging between 32-35k wait for a retracement.
crab harmonic pattern: X=$0.0091 A=$0.0000246 AB=0.61 XA BC=0.88 AB 0.78 XA=$0.0025 0.88 XA=$0.0046 1.6 BC=$0.0074 1.13 XA=$0.0196 2BC=$0.0258 1.27 XA=$0.0456 2.24 BC=$0.0566 1.41 XA=$0.103 2.6 BC=$0.195 1.6 XA=$0.352
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Time to short. May draw out longer than anticipated but a low of 3700 in March seems reasonable.
Easing back into things after a week and half out with COVID. Following this uptrend. I took out a short with a partial TP at the centerline.
daily logarithmic time-frame: 2 signs of down-trend we have: failed to reach the pitchfork's middle line and a strong resistance area. go for short with the SL and TP shown.