Enter if ascending blue parallel line holds and take profit at ascending red line. Note : This is a standard Andrew's Pitchfork
Descending pitchfork was drawn months ago and continues to work well. Price is working its way up these descending lines
Bchsv has tripled in value over the last week, while almost all other cryptos were falling.
With a bounce in the other currencies we can expect continued market outperformance.
Points to watch are the uppermost parallel line which has acted as resistance before.
If price breaks through this and it becomes support then beware . This could be a spike high with rapid...
ES has retraced but did not break the 2600.
This is a strong support on the weekly chart and a good entry point for a long term trade.
Long lower parallel 2634
Take profit at upper parallel.
Stop below previous low
My previous ES short worked very well. It was based on this same chart exiting at the same line where I recently entered
Eos is forming a wedge indicated by the confluence of the ascending and descending slopes
Long at 5.39
with stop at 5.39
Take profit at 5.46
This could possibly become a larger trade depending on future price action
The Dow and S&P have been topping for the last few weeks. Yesterdays fall stopped in an interesting place.
The chart shows three parallel lines. They represent overall trend of price for the last few months. The middle and lower lines were cloned from this.
The Pitchfork is non standard and is used only to show slope and Fibonacci levels.
One the one minute chart...
Gold failed to close the third quarter above 1200
Support has now become resistance
Short at the top of the descending Andrews fork 1192
Stop above previous spike high 1197
Take profit at previous spike low 1160
Gold has worked its way up this long descending channel, It is now sitting just key support at 1194.
Two trades here
Plan long at 1198
stop below 1193
Take profit above previous spike high around 1220
about 5 day trade
long at 1198
Stop below 1165 the August spike low
Take profit at 1280
about 10 to 15 day trade
Note ascending pitchfork is Schiff...
This is a very old chart that I have not look at for weeks. You can see that it still works in terms of price action
This could be the bottom of a cup and handle formation.
There are two slopes converging forming a wedge.
Plan: Long now at 6500. Take profit at 6900.
Stop under previous spike low.
Remember the the pattern can still be valid and have a further spike...
Gold silver ratio at historic high (84.62)
Silver just had a big spike low , just above 14.00
Another spike low now with a recovery.
Long at 14.16
take profit probably before US news on Sept 7 in the morning.
Stop under recent spike low
Or for highly leveraged position under low of previous bar
Long ONTUSD at 2.22
Take profit at 3.33
Stop below previous low.
ONT has been one of the strongest performers of 2018.
At one point up 900%
Already up 200% from the low several days ago, the retracement in the last few hours provides a low risk entry
Note : I have used the modified Andrews forks to determine slope and Fibonacci levels. They do not have standard...
Long gold from red line. This has been a resistance line since April 11. but it was breached before. In the last few hours the recent uptrend has resumed pushing up through this line and forming support above it .
Entry on red line about 1256
Profit at 1279
Quick scalp trade
ONT is at bottom of large fork and has one bounce at 4.90. which can be the stop
Entry is upon next rejection along this line probably around 4.95
Take profit around 5.60
For the last two days price has descended the small channel. Now it has broken the channel and the channel has become support. This is a bullish context as we approach the...