FibnFork

FibnFork Updated 

After a very strong 300 pip rally off the bottom of the pitchfork slope, the GBPCAD has run into the 50% pitchfork, 50% retrace, strong pivot level and 200DMA confluence resistance zone.

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50% retrace of december-january climb 50DMA Previous resistance in november 100% extension off Jan move lower

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Previous resistance broken @~1.148 is now being tested, along with the 100DMA, it's the 61.8% retrace of the 8th jan - 10th jan climb, and the 38.2% retrace of the longer climb starting on the 2nd. Stop just below @ 1.146 & profit at previous highs. 30 min picture with pitchfork

FibnFork Updated 

Quick move through previous resistance area leads us into the top of the pitchfork slope & also the .618 line of the decade long pitchfork which has proved pivotal. Recent price action has been capped between the .618 & .382 line of this pitchfork. FOMC minutes later could decide if this break gathers momentum or is halted by this level. Long-term look at .618 level

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Median line in this pitchfork which has been relatively consistent as res/sup, 50% retrace of november - december decline (ignoring the flash clash wick) & another good pivot level @~$1.28 sets up a good short. Also some potential RSI divergence as we top off here. Powell's speech tomorrow will give more guidance on $ movement

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Confluence of resistance here: Median line in pitchfork 50% retrace of december decline 38.2% retrace of longer term october-december decline Previous pivots in price(19th dec, 10th dec Stop just 2600 which was another strong pivot area, target ~2487 which would be 38.2% retrace and pivot back in 2017

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Confluence of resistance here: Median line in pitchfork 50% retrace of december decline 38.2% retrace of longer term october-december decline Previous pivots in price(19th dec, 10th dec Stop just 2600 which was another strong pivot area, target ~2487 which would be 38.2% retrace and pivot back in 2017

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Short at top of range that started back in december @ 1.147. Along with potential triple top, we have the 100DMA & long term trend line (purple). Stop just above Jan 2nd high Longer term looks:

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Pitchfork

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The year long triangle is finally reaching its apex, will this sideways action end? Squeeze higher through the upper triangle & 100DMA @$6700 will be first signal of bullish momentum. The cluster of resistance betwenn $7400-$8500 has been capping gains since July, so any break through there would be significant and would likely see a further push to $12000. A...

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After buying every dip to all time high's, last weeks slide puts us back at the January highs & 50DMA. A slide below here this week would be the first time a lower low was put in place since this rally began. Will this dip be bought, or will the inflation report on thursday shift sentiment in the market

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Big move off median line support in late september pushed the DXY back to the 38.2% slope & 50% fib retrace which proved strong resistance back in August

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After the surge in late September, further gains have been capped by the 200DMA, 365DMA & long-term parallel channel. Support on the downside comes in at ~@$0.44 which is the 61.8% retrace of the move higher, support throughout June, July, August & the 100DMA.

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The re-test of previous support (trend line & 61.8% fib retrace) turned resistance provided a key weekly reversal bar and has set up a move to test the 61.8% slope of the pitchfork & 78.6% fib retrace.

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Another test of the ~$5900 level and another strong reaction for bitcoin, and a similar pattern as we have now run into the key slope (triangle). Will there be enough momentum to finally cleanly break this pattern? Even with a break, there are a multitude of "key levels" (All "monthly keys" are the most important daily candles in that month) that have proven to...

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Another fail to break the 61.8% slope in this decade long pitchfork formation (also a re-test of previous trend line) has stalled the Euros incredibly bullish surge off the $1.13 level.

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A very solid reversal off the level I outlined last outlook and the dxy has quickly moved back below the key 200 Weekly MA. Follow through will expect a test of the median line of the pitchfork & key pivot level @~93.8. NFPs on Friday is key data release, otherwise the usual Trump remarks on Trade or the fed will be what moves the market. 4hr chart

FibnFork Updated 

This formation has dictated price moves throughout July & caught the low on the 2nd