SPY: bullish (pitchfork analysis)Both on weekly and monthly chart SPY reached a couple of pitchfork lines (in both cases a bottom one and a middle one) and is likely to bounce back up.
Pitchforks
LongIn the previous post, I forgot to show that, as you can see, the price intensified its downward trend due to hitting the median line from the bottom, but now it has not only broken the median line up, but is also supported by it. The position of the forks (Hagopian) shows a powerful upward movement. Personally, I think we may be at the beginning of a long-term uptrend.
NVDA SHORTNASDAQ:NVDA
NVDA running into the U-MLH of this fork, in addition to showing bearish divergence and a Bearish RSI swing rejection on the 30m timeframe.
I'm expecting a drop back to the lows, or potentially further to one of the lower fibs .702 / .786 (Covid Low to Market Peak)
It's a wide target area but I'm hoping to take profit on the next test of the median line in the $140 - $110 range.
Fat_Fat
Bad AppleNASDAQ:AAPL
Apple is running into some overhead resistance via the (green-dashed) trigger-line displayed on the chart.
Most oscillators are clearly turning over here.
To keep this chart simple, I left just this one fork/trigger-line visible.
The fork has two Fib extensions (1.618 & 2.618), which I expect price to navigate through.
However, there are multiple forks at play here. I'll add them as standalone comments.
I'm expecting AAPL to reverse here and continue lower.
At the very least, I believe price will get down to the $150 area. (Target 1)
Although, I also think that price will eventually make it's way down to the $120ish range (Target 2) , which is right at the (red) trendline and also a 50% retrace of the March 2020 low to "Everything Bubble" high.
Fat_Fat
Tenaga. How “low” it could “go”? 11/Oct/22Tenaga. “Monopolized” electricity ..its price probably may only found its “base” at within RM7.250 ( Demand Zone + lower channel of pitchfork ) and RM 6.839 ( POC of volume Profile)..
Bitcoin Cycle Low ForecastINDEX:BTCUSD
Bitcoin Weekly Chart
After the June low, Bitcoin found support riding up the 1.618 ML-E (Median Line Extension) of the Red fork until mid-August.
It briefly found support on the Yellow ML, until breaking below it a few weeks back.
Price has attempted and failed to make it back above the Yellow ML.
We see two consecutive weekly candles getting forced to wick under the Yellow ML.
This tells me that, price will continue heading lower.
Plotting additional median line sets, additional price targets become visible
All targets are energy points aka intersecting Median Lines (ML), Median Line Parallels (ML-H), and Median Line Extensions (ML-E)
I've noted potential price targets with the sky blue ellipse and circle.
The targets vary from 12.6K to 9.8K
I'm expecting the end of this next down move to become the ultimate low for this cycle.
As of right now, I'm thinking the ellipse will be the more likely target, as the circle is only a few months from the forecasted BTC halving in Feb 2024.
Let's see what happens.
Fat_Fat
Tesla down !The market break the support and it is in down trend there is a high probability to the trend continue to last level of pitchfork NASDAQ:TSLA
Did bitcoin come close to the endgame ?will bitcoin survive after this range ?
high probability to break the level 18265, if that happened 80% the market will touch level 12475
CME:BTC1!
SPY - Schiff Pitchfork Price ProjectionAMEX:SPY
$SPY 130m timeframe aka, the daily candle divided into 3 sessions (Morning/Lunch/Afternoon)
I applied a Schiff Pitchfork, starting with the (A) High pivot in late March, (B) the low pivot in June, and the (C) high pivot in August.
It embeds price movements quite well, and I believe gives us some hints as to where price is heading in the near term.
You'll see that price dropped from the peak in August and perfectly tested and bounced off the Median Line. (Green Circle)
Next, price managed to climb towards the U-MLH, but failed to reach it. Price topped out at $411. (Yellow Circle)
This was a key signal...
The Hagopian Law states that price failing to reach it's next target line will signal a strong move in the opposite direction.
Yes, this includes Median Lines, Median Line Parallels (MLH), and Warning Lines/Extensions.
(Reference - Watch 1:04:00 - 1:15:00) www.youtube.com
The failure of price to reach the upper parallel here signals that a strong reversal is likely.
This is exactly what happened...
Notice that when price reached the Median Line it both gapped under and retested it. (Orange Circle)
This tells us that the next likely target for price is the L-MLH, which coincides with the 50% Fibonacci retracement level of the Covid low to high. (AKA $350 SPY)
I plotted an additional descending Andrews Fork on the chart to show a potential path towards that L-MLH/50% Fib level.
It is my belief that $SPY will test the lower parallel of this Schiff Pitchfork / $350 price level sometime in October.
Fat_Fat
LongDue to the intersection of the forks, there is still a high probability of the continuation of the upward trend
level 11776 very important for NQ nasdaq break the downtrend so if it break level 11776.00 will go until level 12260.00
if not will make very strong pullback
S&P - Where to nextPossible price action from the recent rally can end within the pitchfork due to the 50sma resistance level (green line in the middle)
If that breaks and holds S&P could make a possible move to the up side to test the 200ema bringing it up to the 3865 price mark where it will need the bulls to bring everything they have to the party to breakout of the downward trend and keep the rally going.
If the S&P500 can't hold at the 200ema it may be quick reversal to the downside and most likely to retest the recent low
DXY Road to Heaven or He!!DXY current trend really remains bullish and prayers of a reversal seem to be just that.
SPX RANGE FOR 2022 is 3000-3800Pitchforks off major pivots
Fib retracement
This will not stop till it hits this range
My final chart for SPX
GRI 2022
ADAUSDThe price is in a long-term downtrend and has reacted to the fork ranges several times, and the problem is in the upper range. If it can maintain its position and cross the green dynamic line and reach the blue range with a fast acceleration, it can be hoped that it will break out of its downward trend.
Short TeslaNASDAQ:TSLA
Tesla has put in an triple-top while failing to reach the median line of the red ascending fork. (Hagopian Gap noted by yellow circles)
The Hagopian Law states that price should make a strong move away from the Median Line/ MLH / ML Extension after it fails to reach it.
Price has now left the red ascending fork and has also broke under the sliding parallel. (yellow dashed line)
I'm expecting price to continue moving down the descending purple fork towards the support line at the "C" Pivot (Target 1), OR to the trigger line of the ascending fork (Target 2).
Target 1 = ~ $208
Target 2 = Trigger Line Range $170 - $135
* Note the intersection of the trigger line and descending fork's ML at ~ $160
Just speculation, but I'm thinking that the upcoming October 19th earning report may serve as a catalyst for this big move lower.
Let's see what happens.
Fat_Fat
