Pitchfork On Center TineBack in the middle again. Looks like the squeeze could run a little further.
PB to the center tine would give an inverted Right Shoulder. Look for it.
Pitchforktrading
OrderID BTCTHB-RR1.3-230510
Trading System = Discretionary using FIB and Pitchfork
Side = Short/Sell
Position = Closed
Volume = All
Order type = Exit
TP = Fib Proj. 0.618, 1, 1.618
Problem & Anomaly = After the volatility peak at the previous highest high. Price has been climbing with exhaustion.
Trader Emotion = Neutral
Mistake & Error = Non
Remark = Using a red downward slope median line to add short positions if the price has reached the 0.618 percent Fibonacci level.
Ideas = This is a classic play shorting at the lower high to expect a lower low. Let's see how the price folds out.
MNST - Monster with a monstrous drop?Nah, not monstrous, but a drop maybe.
What do we have in this chart?
The up-sloping Fork projects the most probable path that price takes. So, it's up, until price is falling out of the Pitchfork.
Next, the A/R or Action/Reaction lines (slight blue).
All they do is measure a pullback action and project the corresponding reaction.
As we see, the A/R line above the last high is not touching price, but it gives kind of a resistance to price.
Then we have price itself: A huge bunching is happening up there. And, price crossed below the Center-line a couple weeks ago and is currently trading below it, with support of the EMA(30).
So we land at the Indicators and Oscillators:
The MACD crossed negative weeks ago. And this time the negative indication is longer than the last two times.
The Mansfield Indicator shows weakness compared to the S&P500, and the RSI has taken a dive weeks ago.
All this leads me to believe that we see bigger correction in MNST. Maybe not a monstrous one, but a correction down to the L-MLH.
Play it save if and don't let greed eat your brain §8-)
How to Profit from Trend Exhaustion - XAGUSDHow much ... and when? What else is there to know? Enjoy this multi-timeframe tour of the XAGUSD chart to learn how I find MAJOR reversals and targets BEFORE price action reaches them. As always, I strive to produce charts that speak for themselves, and yet this is my video debut here on Tradingview, and I could not be more pleased to narrate this unusual experience. If you enjoy it or, better yet, if you learn from it, then consider this a preview of forthcoming weekday morning livestreams, which I hope you will follow. Until then, be liquid!
"A Dangerous Tool" - Palantir Rally Ends w/ 6.66:1 Short A detailed look at the weekly price action history of PLTR indicates that the recent rally has come to end ... but I've been wrong before, so I welcome your tough questions and chart-based counterarguments. The strongest confluence supporting my conclusion is the simultaneous retest of the Euler Trend Exhaustion Limit and the 2nd Standard Deviation of the VWAP anchored at the Swing Low.
As always, I strive to render these ideas of mine so obviously that their explanation will require no words, and this forecast is no exception. My trading tactics - including the beauty of Tradingview and how it makes me look good - are based on identifying the opportunities within VOLUME, VOLATILITY and TREND EXHAUSTION.
In this case, it is the last of those, TREND EXHAUSTION, and specifically the use of Euler's number as a ratio in the Pitchfork to estimate the major inflection points in advance, that makes this chart unusual, and explains why it must be viewed in the weekly timeframe. This technique has appeared before (Bluzelle, for example) and will appear again in my ideas and videos.
Notice how price interacted with the Limit before, when it passed thru it for the first time in August of 2022 ...
The Short position is placed in the future, as I expect price to range and even retest the aforementioned AVWAP one last time before falling into the trade. If you zoom in carefully, you will notice that the Stop Loss and Profit targets are discretionary and based on dynamic levels within the AVWAP Array.
The Risk:Reward ratio is arbitrary, and 6.66 is merely a measure of my esteem for this beastly "business" and the product that it sells. As Gandalf said, "If all the Seven Stones were laid out before me now, I should shut my eyes and put my hands in my pockets."
The overlapping S-Curves indicate a price squeeze followed by a breakout, which I anticipate will be upward. If price rise to the highest potential shown, that would only improve the Short entry as opposed to negating my opinion, which is, of course, subjective.
The fact that this company and others like it (BAH, for example) are so enthusiastically traded by a sheltered public foretells of a troubled future, which I look forward to discussing in forthcoming livestreams. Again, I welcome your best questions.
Until then, be liquid !!!
. . .
movie-sounds.org
GOOG - Why a 25% drop Is lurking in Google StockSometimes live can be simple.
This trade is simple to me.
Let's examine it:
1. Over all Indexes are not favoring the long side.
2. Price reached the Center line and get pushed back.
3. The Divergence in the RSI is significant.
...and the rest is Risk & Money management.
My stop goes a couple points above the last high.
But I probably play it with Options and give me at least 100 days to expiry (DTE).
Simple enough? §8-)
Happy trading folks.
NVIDIA - A drop below $400I see a drop below $400 in NASDAQ:NVDA
And there's a nice potential for the target at the L-MLH.
My inner Damon want's to short more, More, MORE! §8-)
If you want to know from where, jump to my Blog before session open and find out!
HBAR 7:1 Long Swing Trade @ Below Accumulation PricesA few of my thoughts about Hedera Hashgraph and its near term price action are charted here, which I hope you will challenge with tough questions. After all, these ideas of mine are meant to arouse the reverse-engineers and to provoke the thinkers to do what they do best. As always, I strive to render them so obviously as to require no words.
Nevertheless, HBAR has been at these attractive prices (+/- $ 0.50) for an eerily long time, considering the rally that has taken place this year for Bitcoin and several of the other "usual suspects" that lack utility and/or user-facing marketing campaigns. Currently, the 7:1 Long trade is merely one of many setups that are coming into focus as the ongoing accumulation phase comes to an end.
Although my trading strategy is built on innate Pattern Recognition and a hard-won sympathy for the Market Maker’s Business Model, my tactics - including the beauty of Tradingview and how it makes me look good - are based on identifying the opportunities within VOLUME, VOLATILITY and TREND EXHAUSTION.
As always, it must be noted that harmonic patterns are NOT confirmed until the D-point prints, ergo trading the CD leg is especially risky, and requires real-world context not available on the naked chart ... ergo DYOR.
In this case, the Median line of a Pitchfork generated by the completed bullish reversal pattern (Green M) also marks the A-point of the currently forming bearish reversal pattern (Red W). Furthermore, the 2.718 Fibonacci extension of that pitchfork implies a time estimate for completion of the current pattern.
Keen observers will note that the Long trade idea on display does NOT extend as far as the D-point, but instead has its profit target the 2nd Standard Deviation of the VWAP generated by the A-point, where price may be expected to roll over.
I intend to publish a more comprehensive video surveying the current swing trade setups and medium term opportunities in crypto projects, although it must be admitted that there aren't many. First, though, I have a few more ideas to upload as I update other key charts for the final Quarter of 2023.
Until then, be liquid !!!
📈Bitcoin weekly prediction, 23K or 31K?📉BINANCE:BTCUSDT
COINBASE:BTCUSD
As we specified in the previous analysis, Bitcoin's movements were limited in the green structure that was specified in the previous analytical idea. For this reason, the price started to fall from the level of 28 thousand dollars and could not stabilize at higher levels. Why?
Because at that time there was no catalyst to stabilize the price. I expected the price to receive this catalyst after reaching the September 1-3 time zone, but the sentiment remains negative for Bitcoin.
In this week, bitcoin price continues to move in an ascending channel (in yellow).
The news around Bitcoin makes it more likely that the Bitcoin ETF will be approved.
As the probability of ETF approval increases, the green path and the bullish scenario will strengthen.
On the other side, if the price breaks the yellow channel from the bottom and behaves indifferent to the red fork structure, there is a possibility that the price will go down to the yellow area.
Overall, in my opinion, as long as the price of Bitcoin does not fall below the $23,000 level, there is a possibility that it will go higher.
But if the price loses the yellow zone and the support of $23,000, the level of 22,500 to 21,500 will be a strong support for Bitcoin in the bearish scenario.
✌💥If you are satisfied with my analytical content, please share my ideas💥✌
✍🐱👤Otherwise, make sure you leave comments and let me know what you think.🐱👤✍
🤑🍾Thank you for your support. I hope you will gain profit by following my analyses.🍾🤑
DX1! - Dollar Index at equilibriumSo, here we have the USD Index at the Centerline at a balanced level.
What if the US$ starts go north?
I would say, markets, which are btw. also totally overbought, are tanking.
This scenario is on point with the CPI today.
Obvious or a fluke?
As always, anything can happen, even a new spike in the Indexes.
FRHC - Freedom Holding Corp Topping.I read about Freedom Holding Corp in the recent Hindenburg Research paper.
It sounded quite alarming, but I was considering ignoring the report for an hour and focusing on my chart analysis.
Here's my analysis:
First of all, this stock appears to resemble one of those Pump & Dump scams. However, let's take a closer look at the chart facts:
THE FORK
...indicates that a climax might be imminent. The price has just reached the Upper-Medianline-Parallel, and the rejection is evident from the candle's wick as of today. It's important to note that this is a monthly chart, and we still have a few days to go!
ZERO TO FIVE COUNT
Even the 0-5 Count suggests a potential 5-High, implying that the peak might have been reached, and a reversal could be on the horizon.
DIVERGENCE DIVERGENCE
Yes, there are two divergences, and they are quite significant!
THE SHARK CANDLE
You might hear a whisper of "...come in, the water is fine" when observing the volume and upward movement in this month's candle. But be cautious – this whisper could be the sharks luring the guppies, only to devour them later. You could end up becoming a feast of "Fish & Chips" §8-)
By now, you probably understand my thoughts and potential plan. I'm leaning towards a short position, but I won't let greed cloud my judgment. This will just be another trade, even though the chart analysis is aligned with Hindenburg Research's findings.
I'll allocate my usual 1% - 2% of my stake for this trade. My aim is to make money, not to become a hero. I intend to continue profiting over the next 20 years (assuming I survive these tumultuous times).
Always remember that markets can remain irrational longer than you can remain solvent.
So, why not savor a good trade and find contentment in a piece of the pie?
§8-)
S&P500 -ES has reached the Top for now.This is my 100% believe, that the S&P500 has reached at least a temporary high.
From here we will go down, at least to the dashed WL (Warning Line).
We had the Open & Close below the Lower Medianline Parallel. But price couldn't reach the WL. So, that means we had a HAGOPIAN cooking.
A HAGOPIAN means, that price will go further in the opposite direction than from where price came.
And this rule was right. SP500 was going up like there is no tomorrow. Just stupid buying all the way.
Today it found it's wall, banging it's had on the Lower Medianline Parallel. This was the first Test. As we know, price can create multiple tests before dropping down.
I was observing price action the last couple weeks and it was Insanity at it's best. Be it from Algos or HFT's, I don't care. I just follow my rules and currently they say:
<<< IT's OVA >>>
So, I follow my Medianline/Fork Rules and I'm Short.
The target is as of my rules, the next Line, which is the Warning Line. Interestingly it's also where price intersects with the bigger (Green) Pendulum Swing Fork.
Let's have a Christmas experience §8-)
NQ - A gift from the trading gods?To me this is indeed a gift from the trading gods.
Price retests the U-MLH a third time.
So, if you missed the entry (see my website & YT channel), then this is another chance to bake some Bread, instead of Donuts.
My stop would be a couple points above the pivot high.
Watch my videos and posts about this trade to understand it!
A 80% edge - Mostly unused. Why?The Medianline/Pitchfork Tool provides a high probability (~80%) to reach the Centerline from any parallel line.
That means, if you can figure out how to buy as low as possible, or short as high as possible, your trade works out ~80% of time.
Why would one not use this edge?
Ask me questions, I'l answer.
JD - Washing The Stops Out First?A follower asked to chart JD.com
And since it's Sunday and I'm sipping my fresh brewed coffee from my "La Pavoni" Espresso Machine, I have time to help out a buddy in the Trading Space.
Here we go:
The Monthly (Daily will follow below) Chart is nice and orderly. It has a good Base. And we also see where the last bunch of buyers where from 2019 to 2020.
JD had it's shiny days when it went up to P0.
From there the clouds began to darken. It was, and still is on the path down to a potential P5, which is not achieved yet.
So, that would mean a break of the Base?
Yes!
But, what about the Last Real Buyers (Green Box)?
Put it in perspective. These old buyers had the Job to not let the Stock go down anymore, but to encourage the CROWD to buy more. Big boys where already loaded there...
Any other ideas why a break of the Base and a Wash of the Stop/Loss orders could happen?
Yes.
1. If I where one of the Whales who's behind JD.com, I would want to buy low and sell high. So, my advice to the Market Maker would be to take out all the Stop/Loss orders, sitting below the Base. Throw the final Max. Pain to all HODLERs of JD and prove their bravery.
And then, when everyone and their Mothers throw the towel, I would pick them all up...of course for a very low price.
Please, if you have JD in your portfolio, don't hate me for this. I just throw out my thoughts and tell about my experience. I love you §8-)
Is there more...?
Sure:
2. The Fork
The red Pitchfork projects the most probable path of price. That's the nature of the Andrews Pitchfork. And it does it very well as we see.
Until price has climbed above the U-MLH (The Upper-Medianline-Parallel) there is absolutely no intention that JD will start to stop from falling.
So there we have it.
Can we build a plan to buy out of this information?
Why not:
Wait for the wash.
Wait for something important that shouts in your face.
Then start to gather the facts together that give you many good reasons to buy JD for the long term and make a killing in the next Pump. For example:
1. Wash is over
2. Price climbed above the Base again
3. Price is above the U-MLH
4. The earth did not end despite the climate activists predicting it for the 48th time and the Christmas Tree didn't burn down last year §8-)
Wish you all a happy Sunday and - Go get your free ForkTrading-BLUEPRINT on my website.
T8N3
📈EURUSD 4H deadly analysis📉FX:EURUSD
OANDA:EURUSD
FOREXCOM:EURUSD
Hello Traders, please check out my previous ideas.
Just don't forget to risk-free your position when it reached the determined targets.
✌💥If you are satisfied with my analytical content, please share my ideas💥✌
✍🐱👤Otherwise, make sure you leave comments and let me know what you think.🐱👤✍
🤑🍾Thank you for your support. I hope you will gain profit by following my analyses.🍾🤑
CrazyS✌
📈Bitcoin, right time for a bullish rally? 📉BINANCE:BTCUSDT
COINBASE:BTCUSD
Hello dear traders
Continuing our analysis of Bitcoin, the price is trying to use its support level within the fork structure to start a bullish rally.
In the next few days, Bitcoin is expected to return to the $31,000 range if it holds above the indicated areas (29600-29800).
If the price breaks below the mentioned areas, botcoin will drop to the level of 28,460 and then 26,500.
✌💥If you are satisfied with my analytical content, please share my ideas💥✌
✍🐱👤Otherwise, make sure you leave comments and let me know what you think.🐱👤✍
🤑🍾Thank you for your support. I hope you will gain profit by following my analyses.🍾🤑
COIN IS LOOKING RED HOT!If it can close a 4 hr candle above 85.65 resistance this is going to fly to 95+ $NASDAQ:COIN. You can see COIN is pushing up now 3rd time is a charm. AlsI have also noticed that if you set your pitchforks in the right place there is usually big ole FVG between the upper and lower 0.25 and the red median lines. Price tends to move quickly through this area on the pitchfork. Plus you have news catalysts like Black Rock announcing they are using Coinbase services to support their ETF.
📈Bitcoin looking for a retest, 32K then 35K📉BINANCE:BTCUSDT
COINBASE:BTCUSD
Hello dear traders, after a break, I'm back with my daily analyses of the cryptocurrency and forex market.
Welcome to the second season of my technical analyses.
At this stage, I will be shareing my short-term and medium-term positions on Bitcoin, Ethereum, XAUUSD, EURUSD, and the DXY Index with you.
✌💥If you are satisfied with my analytical content, please share my ideas💥✌
✍🐱👤Otherwise, make sure you leave comments and let me know what you think.🐱👤✍
🤑🍾Thank you for your support. I hope you will gain profit by following my analyses.🍾🤑
Quick analysis on BRESDear Qatari investors, you can notice on the chart that there's no chance on buying BARWA currently since the price just went through the 1 level of the pitchfork heading to the 1.5 level.
Instead of waste your money on this stock invest in others where you have opportunities to buy and make decent % of profit.
Please make sure to get a good consultation before investing your money.
Let me know if there's any market you want me to analyze for you.
Quick analysis on MARKDear Qatari investors, you can notice with me on the chart that the price on MARK kept breaking down through the pitchfork levels and it's about to break through the 1 level.
Instead of putting you money in it, invest it in the other stocks where you will make profit instead of holding on loss.
My customers and I on the accounts I manage have got in some markets the past two weeks where we could make 10%.
So please instead of losing your money, get a good consultaion and invest in the right markets.
Quick analysis on QIGDGood afternoon dear Qatari traders, I'll be posting some analysis concerning the local stocks I get asked about a lot these past days.
Starting with QIGD, too many people have entered in a level they shouldn't have buy in and now they're stuck in it since they lost too much and want to recover at least 50% of their money.
You can see on the chart that there's no chance to buy QIGD since it kept going down and broke through the 1 level of the pitchfork heading to the 1.5 level.
Please before you put your money in a certain market make sure to get a good consultation.
