Snowflake Head & Shoulders on the 4hrNYSE:SNOW This chart pattern of a 4hr H&S is quite prominent. So far so good if you're a bull you want to see this neckline hold. As the saying goes nothing is more bullish than a failed bearish move. If the neckline breaks it's trading back down to the 150s IMO. If it can hold I expect 190s to print. Based on the Modified Pitchfork I have if we chop around the 170s for the rest of the week I would lower the neckline down to 169 where the price would meet the 0.25 orange line, before considering the neckline broken. Big moves soon on SNOW is what I am expecting.
Pitchforks
📈Bitcoin looking for a retest, 32K then 35K📉BINANCE:BTCUSDT
COINBASE:BTCUSD
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An idea for Bearish PathsA rough sketch of two predicted bearish paths.
We could see five pivots as one wave (of course, the breakout of the previous high would invalidate this assumption).
If it's WXYXZ- black.
If it's a less-than-ideal impulse wave, 12345.
This is derived from potential S&R that Gann Square, wave analysis, and the pitchfork can assume.
Bitcoin Summer Price and Time ProjectionsI am using the Fib Spiral with a Circles to help project price and time inside a pitchfork. Notice how COINBASE:BTCUSD really started breaking out to 30K at the edge of the first major circle on June 20th. The second smaller circle is taking the recent lows at 24.7K from June 15th to the most recent high at 31.5K on June 23rd. If we look at the edge of this second circle we get a time and price prediction of 35.5K by July 14th which lines up with my pitchfork analysis for the first TP.
Market Frequency - Kite Analysis - UsdJpy H1 - LongAnalysis
- Black: D1 long fork (between the median and the upper parallel)
- Red: H4 long forks (between the median and the upper parallel) and previous week's levels
- Orange: H1 long fork (near the lower parallel) and previous day's levels
Next move
- Purple: H1 trendlines and Finonacci levels
- Blue: H1 levels to be retested
Market Frequency - Kite Analysis - EurJpy H1 - Neutral baseAnalysis
- Black: D1 long fork (median line)
- Red: There is no H4 fork (near the upper parallel) and previous week's levels
- Orange: There is no H1 fork (over upper parallel) and previous day's levels
Next move
- There is no valid fork. Red arrows short trend (maybe new short fork), green arrows long trend
- Blue: H1 levels to be retested
Market Frequency - Kite Analysis - CadJpy H1 - LongAnalysis
- Black: D1 long fork (between the median and the upper parallel)
- Red: H4 long fork (upper parallel) and previous week's levels
- Orange: H1 short fork (between the median and the upper parallel) and previous day's levels
Next move
- Purple: H1 trendlines
- Blue: H1 levels to be retested
- Short trend and long correction. If the fork falls, it is long.
Market Frequency - Kite Analysis - AudJpy H1 - LongAnalysis
- Black: D1 trend long fork (median line)
- Red: H4 long fork (upper parallel) and previous week's levels
- Orange: H1 short fork (near the median line) and previous day's levels
Next move
- Purple: H1 trendlines,
- Blue: H1 levels to be retested
- Short correction and long trend. The rising move, after a false breakout, can widen. If it breaks, the trend is short.
Scenarios for EGLDWe just broke Resistance 1, but there is another Resistance 2. Even for Resistance 1, it could be a Fakeout. As per the Wedge that has formed, I would be inclined to see three touches on the lower side (only two for the moment), so I would not be surprise to go under previous low, also as a spring of the accumulation. This is still a bearish evaluation, less damage that in my previous related idea (see it linked).
Multichoice (MCG): The Case for a LongMCG is now seeking a weekly & yearly low price, so far price has retracted to below 2 previous low weekly points (week 20 June 2022 & 6 September 2021), the next weekly low point R85.18.
Current weekly cycle is on week 47, previous week duration were 54, 26, 51, 41, on balance of probability we can say we are within 6 weeks to finding a bottom. The current daily cycle is close to a low so either we bottom now, if not we got about another 40-50 days meaning another daily cycle which brings COVID lows into focus & a test of the bottom support of the Pitchfork.
The parameters for entering long:
1. Close above the green line.
2. Close above the 10 week moving average (blue line)
3. Stop loss will be the low point of the weekly swing low price makes or your entry price so there's no loss of capital except trading fees.
This idea will be updated with further guidance as price action gives more pointers.