Big picture, golds range is narrowing between the long-term trend line to the top & the 75% slope on the long-term pitchfork & 38.2% retrace. On the daily we can see another pitchfork, that was broken out of & re-tested. Current weekly close is sat right on the 2018 Year open.
After the gap & move lower on Friday, TSLA is eyeing up the median slope. Will it bounce off it again or move below it (& hold below it) for the first time since 2016 2hr pitchfork
3 levels @ the close price: 52 Week Moving Average 50% retrace off 2018 move lower Median slope on this pitchfork
2 votes against no deal and a likely extension to article 50 gave cable it's best daily performance since 2017. The rally has put the pair into a strong resistance zone : 50% retrace off move lower through 2018 July 2017 high/good pivot through 2018 Median line in decade long pitchfork formation Push through these levels & next target is the 61.8% retrace,...
After a dovish Draghi mentioned TLTROs the euro had the lowest weekly close since 2017 (closing below 200 weekly MA) & on strong support. The 61.8% retrace off the 2016-2018 rally & the trend line off aug 2015 highs -> may 2016 highs (pink dotted line). A break lower and we target the lower slope on the pitchfork & the 38.2% slope of the decade long...
Aussie this week spilled lower into the flash crash close level & rebounded well on Friday. Long-term, this pitchfork formation has been superb at dictating price movement & the weekly close is on the 38.2% slope. Daily 2 Hour
The kiwi has held its narrow range between the 50% fib retrace @$0.69 & $0.673 which has been a solid pivot area. Now alongside those 2 levels we have 2 moving averages. The 200 day joins the bottom of the range & the 200 week joins the top. The key formation though is the triangle (purple dashed) so a push through the 200 day and the lower slope of the triangle...
USDJPY post flash crash rally fizzled out after coming into a strong resistance zone. The 61.8% retrace (October 2018 high -> 7th Jan low (ignoring flash crash wick)) & 200 Week moving average was a strong horizontal resistance level. Also the slope taken off the 2016-2018 lows and shifted up has been a strong pivot area. Ultimately, udjpy is trading within 2...
After the big move yesterday following Draghi's dovish speech (introducing TLTRO's, weak economic forecasting...) the dxy is sitting on a key level after breaking the tame trend line (pink line). This level has: Previous high made in Nov/Dec 2018 61.8% retrace off 2017-2018 decline 75% slope off pitchfork Key pivot level (purple dotted line) 61.8%...
With the sharp daily engulfing reversal bar on the 24th Feb, bitcoin found support on its 61.8% retrace & 50/100 dmas, which were similar support structures within the crypto space. These past 2 days (purple dots), along with the sharp reversal off $~4000, are similar to the move in January, so will we see a similar gradual move lower throughout March? I...
After the strong reversal off the double top @~$167, ethereum has found support at the 61.8% retrace, 61.8% slope along with the 50 & 100DMA. Strong support zone across cryptos proven with a sharp bounce today. Target that needs to be cleared will be that double top formation which will likely coincide with the pitchfork median line.
By following this fractal (Spring/Summer 2015) we could expect to see a retest of the December highs @~$4200. It is unlikely that a pattern will be replicated exactly, but this fractal lines up very nicely with the pitchfork formation. Near term the clearing of this median line on the daily and the 50DMA gives bitcoin enough impetus to go test the 100DMA. On...
The dxy has traded up 7 days in a row, the first time since October 2018. On the chart I've noted the other previous occasions this has taken place. I notice on the occasions where the rally kept going strong (Jan 2015, November 2016) RSI was firmly in >70 territory. Having ended last week at 60 (a resistance level if the break of consolidation pattern holds)...
After largest daily move since February 2018, litecoin has cleared the median line in this pitchfork formation and is close to its 200DMA. With the RSI breaching 70 for the first time since 2017, will momentum shift the trend? 4h The 4h pitchfork formation has perfectly pivoted price action in this near-term uptrend, will the median line be breached?
The spike in btc ran right into key median slope resistance. Along with the median slope is the 50DMA & 38.2% fib retrace off Dec-Jan slide. A break of this level and a potential run to test previous highs @~$4100 is possible. Rejection, and we stay in this channel between the median line & 38.2% slope. 2hr pitchfork
After a steep decline through February so far, the euro has pushed into this trend line that is taken off the low set in Jan 2017. Along with this key trend line we again sit on the 50% slope of this decade long pitchfork. Dxy double top 61.8%: