FibnFork

FibnFork

Flash crash yesterday across equity markets pushed bonds higher for a brief reprieve in what has been a one way trend since september 2017. The low set in place yesterday came in at the bottom of the schiff pitchfork level & the current spike higher being capped at it's .382 level. Circled upside level is the .382 retrace off sept 2017 -> feb 2018, the .382 2007...

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The .618 long term fib level (former res) & RSI trend line have been broken. Potential retest to get long, to ride the expected 3rd wave (in the larger 5th wave).

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Most recent decline hitting of 60% hitting .618 retrace, the 1.618 fib channel & 200DMA. Golden ratio to hold true and push us higher?

FibnFork Updated 

Dips > 40% on chart Fib retrace off entire range Fib channel Aug 2015 -> Nov 2015 -> Apr 2016

FibnFork Updated 

Current low set in this latest crypto crash is at key levels. Previous low on 17th Jan and a key area pre boom for ripple (mid/late december time). RSI is also finding support @ 20 which is a level that has been held well in various dips. Push higher to restest former support @ %1.15 or a plunge lower to ~$0.67

FibnFork Updated 

The long term pitchfork that was in place for this impressive rally from NEO has been broken in this latest crypto crash. Also key pivot level @~$131 was broken and current 4h candle retesting. New schiff pitchfork off (15/1 -> 17/1 -> 29/1) looks like it could dictate price in the short/medium term. .5 fib retrace (22/12 -> 15/1) & .764 (17/1 -> 30/1) initial...

FibnFork Updated 

The most recent sell-off has pushed us to levels not seen since late november. Volume picked up dramatically matched only by the sell-off on 22nd december. Support in this area include the 200dma (roughly at $7850), the .618 fib retrace off entire range & the 20 RSI. If we're holding onto the idea of an elliott wave sequence starting on september last year, we've...

FibnFork Updated 

Caught in the resistance level of .618 retrace (13th - 17th), the resistance of previous highs & the mid point of the pitchfork. Along with a narrowing range in price and RSI a breakout should be imminent.

FibnFork Updated 

Mnuchin remarks that "weak dollar is good for the US" slammed the $ through key support (long term trend line + .382 (2001-2008)). This slide opens up potential ending to 5th wave lower. Next support levels .5 retrace (2011 lows-2017 highs) and long term uptrend starting off 2011 lows.

FibnFork Updated 

What will stop this machine from climbing higher? If a government shutdown doesn't put a dent in it what will? Decoupling of the S&P and VIX doesn't happen often. Not an indicator of imminent collapse but interesting to note. RSI at unsustainably overbought levels % Distance from 200DMA nearing levels not seen since March/Aprl 2012 & May 2013 (areas in red)

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Break of long-term pitchfork has accelerated the downside momentum and now we're at the weekly 200MA. Levels also in this area are the 2017 low set in march & the .5 fib retrace (June 2015 -> June 2016).

FibnFork Updated 

High posted last week helped define the rising wedge pattern. German unemployment data & retail sales early tomorrow morning will define the session. Push lower and our first key area (circle) will be previous pitchfork + rising wedge trend line.

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If we extend higher into zone circled (Various pivot areas (dotted lines), .382 retrace 8th jan -> 26th jan, previous pivot low broken on 23rd) then a potential short could be in play. Keep note of the longer term range in play.

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Been following oils upside progress by noting how it moved during the post financial crash lows in 09. Specifically this current uptrend alongside the price action of 24th may 2010 -> 25th april 2011 (overlayed on chart). Following this analog, we've found resistance at 0.5 retrace of 2014 highs -> 2016 lows, and can expect a retest of the rising wedge we broke...

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Cable spike last week hit near exactly on the .786 retrace of brexit levels (june 2016 -> october 2016). Also in that area was the weekly 200ma & near top of pitchfork. Also have a parallel line that has pivoted price quite nicely throughout the years. Break of 70 RSI hadnt been since 2014 which also corresponded with a top. Short term view:

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USDCAD running into nice confluence of supports. Trend line starting back in 2012 & the mid line of modified-schiff pitchfork. With a strong correlation to crude oil, it's nice to keep an eye on both charts when looking to make a trade & oil is running into a key .5 fib retracement level : Any NAFTA remarks from the white house may shift outlook with ease.

FibnFork Updated 

Current bitcoin advance is being capped by a confluence of fib levels, top end of triangle and the mid modified-pitchfork line drawn off 17/12 high ->22/12 lows -> 7/1 high. ATR coming to a very low level and range in RSI triangle narrowing heavily. A pull back to trend line made off 17th january lows? Or a break through current resistance into a retest of our...

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Ranging in this bearish pennant nearing its breakout point. Currently sat at confluence of fib levels, .5 (13th - 17th) & .236 of entire range. Break above would see a retest of .618 level (prev 20th high) and not necessarily negate downside potential. Would need to see a break to the downside + rsi break to consider trade. Not showing indicator on this chart, but...