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Schiff Pitchfork

Home Depot Inverse Head and ShouldersTechnicals are looking good on this one.. NYSE:HD has room to run if the stock can bounce back to the $191.55 resistance. Stoch is nearing oversold territory and RSI is nearing a short-term trendline that should act as support. Volume dropping as the stock falls hints the bulls will soon come in, however, one must remember that high volume is not needed for a downtrend to continue. I included a modified Modified Schiff Pitchfork and Fib retracement as HD has historically followed both quite closely. Wait for a move to $191 or above before considering entry, I'd put a stop loss between $181 and $182.
NYSE:HDLong
by myfye13
BTCUSD - Mewn. Next stop: Jupiter's MewnUnfortunately a lot of what I've posted recently is on Twitter, most of my bullish reasoning is there. I believe we will hit the Schiff Pitchfork median from here. Consolidation above the previous month's high and above the Fibonacci R1 pivot is extremely bullish. Fishnet trending upward. That said, my main take profit is at $10,400 and I also have short entries there as well. However, I will long still and continue building a short position to hedge up to $11,000. Area of interest to short: $10,500 - Area before high volume VPVR node + monthly R2 Fib. pivot + Schiff pitchfork median Not $11,700 - VPVR gap + stop run on those shorting the "top"
BITFINEX:BTCUSDLong
by NeoButane
State of Coin 1: Minor Crash or Major Dip?Since Dec 2017, Bitcoin and cryptocurrencies in general have been hit hard with bad news time and time again, fuelling a historical selloff from the previous high of $20k. Firstly, I would like to address some major issues: 1. Korea FUD and Bitcoin Exchange Bans in Asia Time and time again we have heard rumblings and rumours of Bitcoin bans in China, Korea and even some rumours that Japan is seeking to work in conjunction with the aforementioned nations to draft a regulatory bill in regards to cryptocurrency. This time around, South Korean officials leaked news of a planned ban on exchanges. Despite the lack of evidence to support the claims, global Bitcoin markets entered a frenzy as Korean volume spiked and overall fear once again consumed the market. The Silver Lining of this story is that once Bitcoin halved in price following the news, Korean regulators released an official statement claiming that it is "nearly impossible" to ban cryptocurrency exchanges and that the rumour was propagated by certain key individuals in an effort to manipulate the markets. As a result the ministers in question are now under investigation for insider trading. Lesson 1: Bitcoin has been "banned" dozens of times in Asian countries. This is generally FUD used for manipulation of sentiment. Lesson 2: Cryptocurrency exchanges are nearly impossible to ban. This is not just true for South Korea but MOST modern 1st world nations. As long as the exchange is not partaking in illegal activity and is operating legitimately under KYC & AML, they are safe. While this is difficult to prove, I think most of the community has an idea of which exchanges are not taking part in the proper procedures. 2. Collapse of Bitconnect ($BCC) With the collapse of the largest Ponzi Scheme in crypto it's hard not to imagine fear running rampant in the hearts of new comers. I mean after all BIT-coin, BIT-connect ... certainly some similarities there right? $BTC's second and largest leg down was correlated with Bitconnect officially announcing the termination of their lending platform. With the collapse of the first large "lending platform ponzi" in crypto, we are seeing tighter government scrutiny on other similar projects such as Davor Coin ($DAV). Although I don't believe that the collapse of $BCC negatively impacts $BTC in any other way than a sell off, it has left a bad taste in the mouth of millions and has potentially scared away millions more. Lesson : Don't be f***ing stupid. - No one can offer fixed return of 1% a day - Just do the math... you would be a trillionaire within a year at those rates 3. Tether/Bitfinex Issue I think by now most people know about the suspected Tether issue so I won't bore you with the details. When news came of the CFTC's subpoena to Tether, yet again the market reacted by dumping and maintaining the extreme bearish sentiment. Although this is a serious concern, I believe it has been mostly priced in at this point. What is more concerning to me is that IF the critics of Tether were accurate in their accusation of market manipulation, a large portion of the bullish driving forced behind $BTC may be wiped out. Technical Analysis - Contracting wedge shape indicates momentum compression in the downward trend. This is often noted at the end of an Elliott Wave as an indication of pending reversal - Strong stoch RSI support on the Daily/Weekly timeframes - MACD divergence - Bottom of 240 day MA (adjusted for crypto to 243.33). This is a significant level since the last correction to fall this deep was post first bull run out of the major Mt. Gox correction. Long : $6000-$7000 range Target 1: $10,000 Target 2: $12,500 Target 3: $18,000 SL: $4800 Closing Ideas: There is alot of uncertainty at this time, no one truly knows what is going to happen. Scalping shorts may earn you quick profit, however for longer term traders with higher risk tolerance, these levels appear ripe for accumulation.
COINBASE:BTCUSDLong
by grimoracle
NULS testing resistance prior to breakoutA classic buyers vs. sellers tug-of-war is currently underway with NULS. Analysis and strategy as per chart. Symmetrical triangle pattern and current testing of Schiff Pitchfork resistance indicate a breakout (up or down) direction in the coming days. Fundamental analysis indicates a positive outbreak, given a spate of recent interest (including IBTimes article) on Generation 3 currencies, the current airdrop, and the mainnet expected in the first half of the year.
Long
by chartorscience
3
EURUSD WeeklyHello there, On the chart we have three pitchfork's, the pink one is a standard fork and has its upper parallel being tested, the blue fork is a modified Schiff which found resistance on its upper sliding parallel. Then there is the dashed gray pitchfork of which the medianline is being tested, all at a single point of confluence where a bat pattern formed its PRZ on the daily chart. Use your own analysis to confirm whether this could be a good trading setup for you or not. Goodluck !
Short
by dinnersticks