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Andrew's Pitchfork

EUR/USD - turning to a longterm buy?EURUSD broke structure (downtrend) and is consolidating on the tentative upsloper MLH (fork), forming a major bottom with a massive upside potential. The bottom is also the 0.618 fib line of the last major upswing. Targets are the 1: 0.5 of the frame / 0.618 fib line of the last downswing and 2: ML of the fork. Trade is Long EURUSD cmp (1.12270) Stop Loss (Tighter): 1.11606 Stop Loss (Wider): 1.10872 TP 1: 1.20000 TP 2: 1.28000 Wider Stop Loss should be used only if one can afford it, but risk should never be more than 4% of your account. Thread carefully, Nick
Long
by NickBlack
3
BTC - Path to 13000Trend swap occurred around the 6200 mark, when the impulsive move continued and formed a major upswing in which we still are. Three options here: 1. Chase and buy at cmp (no missing out but biggest risk) 2. Wait for a corrective minor swing (small possibility to miss out but with less risk) 3. Wait for a bigger corrective swing (almost no risk but a big possibility to miss out) - All the options lead to the median line, of the current mod schiff + the 0.618 fib line of the whole major downswing, which sits around the 13200 area. In my opinion, BTC will land in 13000 area in the next few months, even if it corrects all the way to high 4000's (small chance). Everything above that price still leads up there to the median line. Thread carefully, Nick
BITFINEX:BTCUSDLong
by NickBlack
Where is Brent oil heading next?As we get closer to the date of OPEC meeting this month, June 25th, Brent again is quite to be volatile and based on the status quo of the world right now, nothing is certain anymore as the trade wars may drag on into 2020 and even further in the future. All of us can read on the news that supply is surplus and demand is kinda low at the moment. Would it be enough to drag Brent oil down to below $55 or even below $50. Also, Russian Energy Minister Novak has said he couldn't rule out a scenario in which oil could fall to $30 if the global oil deal wasn't extended. But from now until June 25, I think even if Brent drops to $55, OPEC will agree to extend their deal in order to help the market. Just remember, don't be too hopeful.
TVC:UKOIL
by DuyNguyen0205
EURUSD Update.. level hitGood Morning everyone As we can see price of fiber has landed squarely in the Hint level zone. Fiber is now approaching the lower parallel of the Andrews Median Line. This is an excellent part of my overall strategy that I learnt from an elite group of traders/smart money (billions to move) So this is literally how they do it. Notice there are no fancy oscillators or Macds or rsi or any lagging "indicators" all of the smart money tools are Predictive not lagging. The statistics on the effectiveness of these indicators is not that good. Some are statistically a little better than 50/50. So yes in theory is does give you an edge...but a very blunt edge. Here I shall reveal one of the Swords of the Samurai Trader. The Andrews Median line. Developed by Alan Andrews around his kitchen table many years ago. This system not only give you 80% probability winning trades but also gives you a very good risk:reward ratio. Sometimes greater than 1:8 ! The theory is It is more important where the price is going than where it has been and people who trade billions of $ at a time seem to prefer this method. If you can't beat them, well you know.... Guess where the EURUSD is going this week? Don't guess Stay tuned. I shall provide a neat simple chart easy to understand today.
Short
by Ryan508
Long EUR into NFP? EURO to 1.13 then 1.14Here I've hidden everything else and just kept the Andrews and key levels. We used to just use the Andrews median lines before the Gann "stuff", Gann was voodoo, it was weird, it was right there on youtube next to the conspiracy channels. But now that I actually understand it....its life-changing. The power of combining Gann and Andrews methods is ballistic good. As can be seen here with just the Andrews the confluence of the first upward Median line with the upper parallel of the new ML around the 1.13 from 1.13 it looks like we'll be heading to 1.1400 next, esp with NFP tomorrow. Good luck & don't drink too many Red Bull
Long
by Ryan508
1
MFI in the WAY oversold region , Major Andre trigger support#hive MFI has only ever been in these number two other times in the companies recent history and is quite over sold at least for the time being, the 0.46 level has held for the past few days with a static support of recent floor and also the Andrew fork trigger line support (im yet to see this trigger fail) , with last nights break out on #BTC and the company CEO being more and more vocal all over youtube, next few days may be interesting, however more risk averse play would be hold of till the main trend is reclaimed and prices solidify over the 0.6 marker.
TSXV:HIVELong
by samy816