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Pitchforks

PTRA - Another Capitulation Wave DownPTRA All the action is in EV today. PTRA down 10% already today in tandem with TSLA collapse. This looked somewhat promising as it probed out of the pitchfork although the clue was that no other EVs were moving with it. But after the 3 wave completion there were 2 shorting opportunities as it fell back into the pitchfork. One was positional, the other with momentum. And imo the momentum trade was the much safe option with the SRP (Shakeout Reversal Pattern) probing back into the dotted warning line entering near the candle close. Heading for a massive capitulation. I didn't trade this one but just to show the working. Can't think of a worse market for hodlers 😸. Not advice.
NASDAQ:PTRAShort
by dRends35
XAU/USD Long - 15/30m - NY Open - Dec 20 20222 PFs in this case showed confluence that price might be making another rally up. Downward PF shows that ceilings are being broken and retested which suggests Gold is becoming bullish. Looking at the upwards PF , we can see that floors are being respected included parallels. The upwards PF had parallels (dotted lines) that were also respected in confluence with the downward PF which gave great confidence to take the trade and let it run to TP without partials. For this trade, we waited until 4h closed as a rejected after the last 4h pushed and closed above a ceiling. With stops below the previous 30m (as this will invalidate the buy), we took a buy and price never looked back. It went on breaking the basing 4h candle which caused an instant jump in price as many traders expected it to continue with this bullish momentum (fairly quick 1:2 trade). No partials taken throughout the trade and a 10% runner was left to take advantage of any more jumps in price, especially since the daily and weekly suggest that price can continue bullish breaking out of the current horizontal channel. Total TP set for 1835 in accordance with the bullish PF next major ceiling with SL at BE.
OANDA:XAUUSDLong
by MisterPitchfork
Bitcoin impulse down, but then?PA rising and Volume falling, not usually the best mix for a bull run. Elliott Wave count up is debatable. My focus and I think most will accept a probable impulse down. SO some levels of potential clarity I'm watching. 16.8k area, impulse complete 17165, resist and algo land. 17421, Impulse complete/inval I think until one of these breaks, could go either way. Idealized patterns shown for whats next. GLTA! If you have found this inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave on comment! Also, check out the links in my signature to get to know me better! Cheers!
COINBASE:BTCUSD
by CryptoKnee
HYLN - Pitchfork Elevator Ride 🙀😾It got a bit exciting in EV for a minute or two and HYLN had a flurry upward, but just to show you in terms of trend really nothing has happened and that shooting star through the green upper median line is bearish, shows another leg down coming. Who know where the bottom is really, I have fib targets but just like train stops the train can just keep on going and TSLA is looking bearish which is not good for small fry like HYLN. Will be looking to buy HYLN one day but not today. Not advice.
HShort
by dRends35
2
US10Y Bounce at 3.332% then to 5.376 by Summer 2023The current pitchfork trend is holding and I'm looking at the US10Y reverse at 3.332% this month. I'm also expecting the fed to over tighten or some other news event to drive the US10Y to 5.376% by June 2023. The nature of pitchforks are able to easily visualize the physics of the market and I'll do my best below to explain what I'm seeing. From a price action perspective the US10Y broke the median from the beginning of time and is coming back to re-test it as support. As of August 2011 gap down to Jan 2014 price action has respected that median range through today. In the world of physics, when you have a huge swing away from the median, you'll also have the same energy swinging back in the other direction. Think of a swinging palm tree in the wind. The same is happening here and is illustrated by capturing the breakdown in Feb 2020 where price quickly broke trend then held the 3 standard deviant move down during the 2020 crash. US10Y has quickly made a move in the other direction and is preparing to breakout with huge force.
TVC:US10Y
by GammaRayGoated