Median
NZDUSD Shorts To Take Charge Next WeekPrice has reach a level where more than one factors showing we should watch for short setup. Climbing a little more and it will soon test the median line of a up slope fork, the slide parallel of a long term median line. the 0.786 fib level of the previous impulse and a previous structure level (look left). If a sell setup completes at this zone it's a go, selling NZDUSD.
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USDCAD Buy after retracement1) Bull Triangle forming on major price level 1.312
2) Pitchfork suggest more up movement expected (reversal to median)
3) Wait for reversal around 1.3 price level for a good entry to long (see coming week how this develops)
The sign are go for a bullish move somewhere next week or the week after. It looks to reverse around the SR zone first, so wait for a better entry to buy.
Be aware of USD news and CAD news coming week.
Good trading all!
AUDUSD Short to MedianLikely move to strong former SR zone, as well as a move back towards the median line which it has been following for more than 3 years.
Enter this short for a good 1:3.8 RR, be aware of the minor SR at 0.72
Good trading this week and leave a comment if you have anything to add
Thanks!
NZDUSD Short if lower lows continuePrice is looking to move back to the main median line. To confirm, wait for the; break of this channel, and strong SR zone.
Comments or idea's, let me know below.
Thanks for reading!
GBPUSD Short to medianThis pair has been moving between 1.4 and 1.44 for more than a month now. The 8 hour charts shows good reversal signs once again. There's therefore a good chance for a reversal towards the mean.
I've set a wider stop loss to accommodate for some volatility from the ECB rate decision tomorrow.
Comments or idea's, let me know.
Good trading today!
NZDCHF Short to medianThe main trend on the daily chart has a bearish bias as shown by the pitchfork setup. Price at the moment is near SR and the median parallel line, There's a high probability for a short towards the median line (in red on the left). Price needs to make clear bearish moves first.
When price makes those lower lows, there's an entry possible for a 1:3.2 RR ratio trade.
Comments or idea's, let me know below.
Thanks and good trading!
Further suggestion of quick SPY retracementMoving chart slightly and superimposing an Inside Pitchfork on shorter timeframe to describe recent weeks it seems we are at top of Fib channel although it doesn't preclude a move into the purple slip band already tested . Very short term short followed by bounce
Why I suspect a quick retrace on SPY soonI suspect a quick retrace probably overnight followed by a bounce early next week for next attempt at new high, however to reach 214 would require momentum plus serious buying power as there is a lot of resistance at 213+ So very short term bearish
Monday SPY - looks like sellingThis should be read in connection with Saturdays gap analysis chart. Trend breaks move to test 207.60 range at bottom of blue Fibonacci band. Note pitchforks drawn using co-ord entry of high and low prices for accuracy - not arbitrary placed trend lines
Schiff Median SPY from 2012 Touched like Oct, Jan, Mar Dip & RipTrend since 2012 - Orange central line aka Median price,
It has been tested several times but only broken on downside 4 times followed by a rapid rip up. The median line exerts an attractive 'force' from above and below
This is an example of a Schiff Pitchfork, unlike ordinary trend lines its positioning is not arbitrary
Note position
October 2014 was 191
Jan 2015 was 200
Mar 2015 was 205
Now is 207.75
There are smaller sub cycles above drawing price up and there are bigger mega cycles below for 'the crash' eg trend since 2000, 1980's , 1950's
If bears fail to take it down after testing it then expect rapid bounce up like Dec, Feb, Mar
By October 2015 the SPY median will have risen to 220 and rising fast - needs cash from somewhere to fuel the rise
Future of SPY based on monthly bars Bear Market on horizon?This is SPY plotted in monthly bars since 1994 to 2022. I have used a Schiff Pitchfork for Median line analysis. All prices should oscillate around median price until trend breaks. The current trend has held since 2010 and prices have been arcing away from median since. However, rate of growth is slowing and could turn negative in next couple of years. Interesting taking pitchfork pivot in 2009 or 2010 gives similar results
CADJPY Up Fork Continuation?The CAD continues being one of the strongest currencies, whereas the JPY is rather neutral. So let's see, if this pair can break through the 97.7 resistance and get to 98, and potentially even to the median line. Unless price breaks directly through the bear trend line, we should expect a bounce off the lower median line parallel, which may occur somewhere in the 97's. I think the buyers haven't given up on this pair yet and the demand is going to pick up again soon.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell. Rather, you should use the information only as a starting point for doing additional independent research, your own due diligence, in order to allow you to form your own opinion regarding trading decisions. No assumption should be made in relation to the performance or accuracy of the methods shown. No claims are made as to the success or profitability of any of my posts.
GBPUSD UPDATEIdea is based on a combination of Elliot wave theory and median line analysis. Chart contains all reasoning behind this setup along with a target and stop loss. Good Luck. If you trade acoording to this idea please do so on your own responsibility. This Idea is a mere reflection of my own point of view.
CADJPY, good buyWe are sitting above a strong support line, expect price to reach the upper parallel of the gray pitchfork, once broken and closed above ---> price will reach the 0.95 ish area before it starts retracing (or going further up). Please check the chart for the target/ stop loss.
