NZDUSDNZDUSD is lower than it's been since November. I entered a short position at 0.67177 and moved the stop loss down from it's original position. The next major level I marked on the zoomed out chart is at 0.65399. While it follows this pitchfork I'm watching for any opportunities to scale into a larger position.
Noob
LTC Bullish Shark Harmonic on Daily Little Litecoin has formed a bullish shark harmonic on the daily.
I would look for a buy in the purple area.
SL in the red area.
TP in the blue area.
Has around 100 percent upside potential.
Still has around 15 -30 percent to the downside in order to hit my buy area.
Look for divergence to form in the buy area.
Make sure you practice good R/R.
Any insight is helpful as i am still learning harmonics.
Thanks.
Happy trading.
www.tradingview.com
EURUSD Support and ResistanceI zoomed way out and found the significant support and resistance lines EURUSD has respected over several years. Based on those S/R's I can see EURUSD either breaking up from here and testing the Weekly horizontal or continuing lower, testing the diagonal until retesting the lower zone.
BTC on the way down to $35kBTC is still following the pitchfork down to the next zone around $35k. I expect it will move sideways inside the zone soaking up fills and possible wicks into stops.
I dollar cost average BTC with regular direct deposit, Blockfi credit card, Coinbase USDC card, and Revolut roundups. Considering where BTC could go in the next 10-100 years I don't want to trade BTC in these lower time frames.
NZDUSD LongI looked at this setup last night and set an alert. After the Sto RSI bottomed out on the 1H and the price tested the bottom zone I opened a 1:3 RR at 0.67599 with TP at 0.68299 and Stop Loss at 0.67327. I'm trading on a very small account or I would place a partial TP at 0.67936. I'll be watching and move the Stop Loss up to a zero risk trade once it clears 0.67936.
I would be surprised yet admit my fault if it falls lower from here.
As always, I'm still learning and welcome any and all constructive criticism or advice. If anyone knows any good resources for studying pitchforks I am open to suggestions. Thank you.
CADJPY Pitchfork with SpacemanBTC Key LevelsI've been playing around with different indicators but trying to keep it simple. I really like the SpacemanBTC Key Levels.
I think CADJPY was trying to break bearish out of the pitchfork but caught resistance from the monthly high and monthly open. The 4H and Daily MACD and Sto RSI may be moving to flip bearish. I wouldn't trade at this point because I don't have 3 or more indicators for a setup. If the MACD starts flipping bullish, Sto RSI falls below 20%, and price recovers and retests the 2nd deviation on the pitchfork I will consider a long with a TP near the center line of the pitchfork.
USDCAD Testing zone FX:USDCAD
The MACD on the 4H indicates USDCAD is starting to lose bullish momentum but the Daily shows it is losing bearish momentum.
Sto RSI is between 80 and 20 on the 4H but trying to cross into a bullish reversal below 20 on the Daily.
Since it has rejected the bottom of the zone I marked for the last four days while below the first deviation band of the pitchfork, USDCAD is likely to turn bullish. My buy signal will be when it clears 1.25621 as it returns to the center line of the pitchfork. The other scenario is if it falls below the zone, in which case I will reassess if it rejects the bottom of the pitchfork and returns to center line or continues down to the bottom zone I marked.
*My friend challenged me to post one chart a day this year to build confidence and my skill set. I am still learning so I wouldn't trade off of any of these ideas. If you have any constructive criticism or advice I would be grateful to hear it.
EURRUB ChannelI marked a significant zone and did not see any solid pivots for a pitchfork but noticed a few reversal along a centerline so I used the regression trend tool and extended the upper and lower deviations to 3/-3. After placing the channel the centerline is not as visible as I thought. I'm mostly experimenting with the regression trend and watching for now.
GBPJPY Another PitchforkI like these clean pitchforks. If it reverts to the centerline I will enter a long if the volume looks good. I did have to search around for the first point to place on this Andrews Pitchfork. I think the false pivot I labeled doesn't work at the first point or any point in the pitchfork because it's just sort of a blip on the trend and not a true reversal. I'd love to hear other people's opinions on this though. I would also love to hear some reading recommendations for Andrews and Schiff Pitchforks.
#GBPUSD ContinuationThis is a continuation of an earlier idea I kept private.
I think GBPUSD will drop and test the lower zone I highlight before returning to the centerline and again testing the bottom of the pitchfork and lower zone. I will likely scale in at the lower zone with a stop loss under the pitchfork.
SHIBUSDT Support Levels #SHIBI do not hold any Shiba and have no plans to buy any. I just wanted to draw what I think are support lines and a significant zone. I think the ATH and price action immediately after was mostly a result of positive social media sentiment and retail chasing the meme coin aspect so it's a lot less significant for a long term support/resistance zone. The lines I drew are where I believe it started settling back into more reliable levels.
My personal opinion is Shiba will likely have another pump if the rest of the market turns bullish. I'm just not really big on any of the meme coins so take everything I say about them with a big grain of salt.
*My friend challenged me to post one chart a day this year to build confidence and my skill set. I am still learning so I wouldn't trade off of any of these ideas. If you have any constructive criticism or advice I would be grateful to hear it.
Vechain #VET. Multi-Month Schiff PitchforkBINANCE:VETUSD
After several months of the descending pitchfork, VET broke out and the pitchfork became resistance as seen in early December. I've been holding VET since 2018 and I'm not actively trading it. I will buy more when it follows the resistance line into Zone 2 with a take profit in Zone 1. I will consider this idea invalidated if it breaks below Zone 2 and continues down the multi-month pitchfork as resistance. I'm not a pro and nobody should trade off of my ideas. Just verbalizing it for commentary and criticism to learn.
If it breaks above Zone 1, 1) I will be happy for my long-term bags, 2) Will revisit this chart.
ADA EUR 15min ResistanceFurther resistance line forming. I am predicting a drop to break out of the flag. I hope I'm wrong.
New Idea on Converging LinesI've annotated the idea that maybe the pink dotted lines may indicate a couple of points of volatility in the near future. Watch this space.