FibnFork

FibnFork

Long-term pitchfork has been in place dictating price movements since 2016, and the current rally could potentially have found resistance at the median line. Other potential resistance levels alongside this: Trend line off March-July highs 25% slope in new untested pitchfork

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Following an expected Tory win in the UK election, but an unexpectedly large majority, the £ squeezed higher to levels not seen since May 2018. But is there reason to be so optimistic with a Johnson government likely to seek the hardest of brexits or maybe even a no-deal. The relief rally after staving off a hung parliament, and the uncertainty around that, may be...

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Doesn't get much cleaner than this in the crypto space. Right from the top slope to the bottom in a month, and recently rejected from median line resistance. Clear resistance level (median line) Clear support level (50% slope in pitchfork) Aside from the pitchfork, a close below this Yearly average, and likely re-test failure today, is short-term bearish

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With volatility finally back in the crypto space, bitcoin broke through its support structure at ~$9200 and quickly ran through key support levels : The 200DMA Median line in pitchfork 50% fib retrace There are various key levels in this area (noted by all the red dashed lines), bulls will need to push this back above those previous support structures...

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Pitchfork levels being key pivot areas, catching the highs off the saudi oil attack, with the lower parallel coming into focus next week. Not far below (if we see a break) is a longer term pitchfork slope.

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Another re-test last week of the ~$1530 level (lows in 2011,2012) and ultimate rejection sees gold likely to push and test the 50% fib level again. Break below and we target the $1487 level and below there the 50% retrace and previous trend line (pink) would be a critical level. 2hr pitchfork

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This pitchfork formation in place since July has been the key support/resistance for btc. Back at the end of August as we finally saw a break of the key trend line(pink) & a break through the 100DMA, we'd have expected a more persistent follow through, but the median line came in as strong support and that entire move was reversed swiftly. And now we're back to...

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Following a receding threat of no deal brexit, the £ has had back to back +1% weeks & has finally broken through the key 60 RSI level for the first time since May (In downtrends 60 RSI is the key resistance in momentum). After breaking 1 key median line last week, the pound followed through, breaking a longer-term median line & the January flash crash low. Next...

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After stalling at the upper parallel in the pitchfork, we have broken down and shifted below (tentatively) the nearer term pitchfork formation. Follow through from here and support comes in at ~$9800

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With the pound rightly positioning itself for a potential no deal brexit thanks to the unstable "leadership" of Boris Johnson, data comes into focus this week. How much will the £ react? Services PMI Monday, followed by big releases on friday including GDP numbers & various production numbers. From a technical level, the dip last week hit a key level (50% slope...

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After the already priced in 25bps cut from the fed on Wednesday followed by hawkish commentary from Jerome Powell (One and done sentiment for cuts) the dxy pushed to a 2 year high and right into a key long-term technical level. However, following that decision, the US had some weak ISM manufacturing data on Thursday & potentially a rise in tariffs on China...

FibnFork Updated 

After the slide in bitcoin (30% in 7 days), will this lower slope in the pitchfork come in as significant support? We also have the January 2018 lows in this area & the 100% extension of the decline

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Following the reversal off the 200 week moving average & low slope of pitchfork, another pitchfork formation looks promising. Right now caught between the median line, top slope & 100DMA. US CPI data tomorrow will be significant news release, with a lower than expected number likely to put a 50bps cut back on the menu

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Now I wouldn't get in the way of btc when its on a charge like this, but median line of this long-term pitchfork and 61.8% retrace may take out some of the steam (saw that huge 16% sink lower)

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Following an early week re-test of the key support (61.8% retrace and pitchfork slope), the euro rallied higher off the back of the FOMC rate decision through both the 200 Week and 200 Day moving averages. Daily 4 hour

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Following the predictable dovish fed policy stance, and shift in the dotplot, the $ plunged through most of its key support structures: Simple trend line (purple dotted) Median line in pitchfork 200DMA 61.8% slope in long-term pitchfork The 200 Week moving average is the last bastion of hope for the dxy. Daily

FibnFork Updated 

With the upcoming FOMC rate decision, lets take a look back at previous decisions: September 2018, spike in both directions, before basically unchanged on the hour. Moved higher through the end of week November 2018, bullish move higher, through to end of week December 2018, bullish move higher, complete reversal following day January 2019, dovish into...

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Key resistance to break, 38.2% retrace off ATH 78.6% retrace off feb -> dec decline January 2018 lows May 2018 Highs 25% slope in long-term pitchfork (blue dashed line) RSI looking dodgy up here. Break through and not much key resistance until the 50% at $11400 4 hr 30 min