Andrew's Pitchfork
USDJPY: Potential Big Move to the DownPrice breached below the sliding parallel of the median line se, and is now pulling bck into a correction heading to a key resistance zone to watch for sell setups. In this video we analyse how the uptrend is weaking and all the confluence we get in the sell zone after the breakout below key support.
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Have a nice weekend,
John
BitcoinCash: Short Term Sell & a Key Support for BuysIn this video I cover two potential trades - a short term one, and a huge buy one! Price is being moving into a rising channel finding resistance at the upper parallel, dropping into an impulse move. A pending bearish bat pattern is being developing which is the short term opportunity I was talking about. A bearish RSI divergence is adding to our short term setup. Our main view though is bullish. In case price retraces to the lower parallel of the channel, we should start watching for a buy setup completion and see if you join the rocket aiming for the $2800 level or even higher. At the lower parallel of the channel we have confluence with previous structure, which makes our support even stronger to hold.
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Trade with care,
John
Gold: Two Potential Scenarios on Going LongIn this video, we may see two way we may trade gold in the upcoming week. Price is being moving into a rising channel, strengthing into the overall trend, and after an impulse to the upside it is now developing a correction moving to the down. In the hourly chart we identified a key support level where we may watch for a buy setup completion. Otherwise we may just wait for price to break above the rising channel and see if we can get a pullback to the upper parallel where, once again we should start looking for longs.
Feel free like, comment and share your thoughts.
Trade with care,
John
SandP 500 E-Mini Futures 240 CME Updated 11/16/2017 Price dropped down to below the blue median line as we had mentioned as a possibility. We are now near the 2577 area which could act as possible resistance to the upside. If we start to drop again we could see the blue median line as support or 2562 again.
SandP 500 E-Mini Futures 60 CME Updated 11/10/2017 Price has broken down and hit the median line, then rose up to resistance at 2585 which is also previous resistance, and came back down to hit support at 2571. Price is choppy now, and volatility is increasing to the downside. Price may come up a bit more before trying to make another move to the downside. Look to see what price does at 2580 and 2585 levels.
SandP 500 E-Mini Futures 240 CME Updated 11/9/2017 Price has dropped from the 2594 area as resistance and is testing now 2577. Look to see if price will break down here andretest 2577 as resistance to cantinue lower. If that happens we could see 2567 and 2543 eventually. Also look for the pink median line.
SandP 500 E-Mini Futures 60 CME Updated 11/8/2017 Price dropped lower and found support at the median line, bounced up, and is now at resistance near 2586. We must break above 2586 and test as support to continue the upward momentum. I have also drawn in the pink downward fork in case we hit resistance up here.