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Pitchforks

SLM Volatility contraction bar entry& Median Line ExitAfter a month of sideways price action over the turn of the year, we get a new price high on the on the back of poor earnings. Price held and a low volume narrow range bar shows up. I would expect there should be more selling here but minor volume day. Take a long but stopped a few days later. However price comes back in early Feb after holding the 50EMA. Try another squat bar buy stop entry. Price target the ML as Dr. Andrews says, "Price makes it to the median line 80% of the time".
NASDAQ:SLMLong
by shane93676
BNX - Finding Support, Resistance and Trade SetupsAfter yesterday's push to test the $1 level, BNX got hit with some rejections. Following the swing high SFP (Swing Failure Pattern), the price is down about 10%. Let's update our analysis with some key levels that clearly outline our support and resistance zones, and then we'll dive into the trade setups. Support & Resistance Criteria Resistance Levels BNX faced rejection around the $1 mark, with the resistance zone clearly defined between $1.0137 and $1.0263 A short trade could have been initiated from this zone, with a stop loss placed just above $1.03 The Fibonacci retracement highlights key resistance levels at: 0.618 retracement at ~$0.9774, 0.786 retracement at ~$0.9952 The Point of Control (POC) of the current trading range sits around 0.786, and the daily open is at $0.9966 The pitchfork upper resistance trend line further reinforces this area Moving Averages Adding Resistance: 15-minute 200 SMA: Currently at $0.9836, aligning with the fib retracement 0.618 and adding extra resistance 1-hour 55 SMA: Currently at $0.98085, further supporting the resistance Note: These SMAs are expected to move down in price over time Support Levels Primary Support for Long Trade Opportunity: The overall short trade target remains at around $0.8, supported by multiple Fibonacci confluences: -0.6 negative Fibonacci retracement at $0.7912 Trend-based Fibonacci extension 1.272 at $0.7914 The previous key high at $0.7801 and Fibonacci extension 0.133 at $0.7924 These levels give us a strong support window between $0.8 and $0.78. If the price reaches this level by 17th February, the pitchfork's lower support trendline adds even more strength. Moving Average for Support: Daily 200 SMA: Currently at $0.7786, which confirms the support zone Note: This SMA is expected to move up as time passes, reinforcing support over time Additional Support Zone: Another key support region lies between $0.72 and $0.7075, with a key level at $0.7177 supported by a weekly bullish order block, trend-based Fibonacci extension 1.618 at $0.7075, and the anchored VWAP (yellow line) just below. Trade Setups Short Trade Setup Entry Strategy: Look for short entries between $0.981 and $1 as the price tests the resistance area. Confirm entry through order flow and rejection candles Stop Loss (SL): Place the SL just above the recent high at around $1.018 Target: Aim to reach $0.8, where our confluence of Fibonacci levels and moving averages align Risk/Reward Ratio: This setup offers an amazing risk/reward ratio of approximately 5:1! Potentially up to 9:1 with effective DCA (dollar-cost averaging) into the short trade Long Trade Setup Entry Strategy: If price drops decisively and reaches the support window between $0.8 and $0.78, consider a long trade on confirmation Stop Loss (SL): Place the SL below $0.77 Target: Aim for a profit target at $0.85 Risk/Reward Ratio: This setup offers an approximate risk/reward ratio of 2.5:1 Keep an eye on the charts, set your alarms to the key support and resistance zones, and wait for a solid signal before jumping in. Be ready to tweak your strategy as the market shifts. Happy trading!
Short
by SiDec
6
BNX Update: Where Is BNX Heading Next?UPDATE: Price didn’t quite reach the 0.618 fib retracement level we initially eyed for a short entry, it got very close and then faced rejection off the pitchfork upper resistance trend line. This rejection triggered a sharp 13% drop down to a low of $0.8278. After a brief bounce, I'm still waiting for price to drop further toward the support zone at $0.8–$0.78. So far, the trade is unfolding as planned. In addition, price has lost the VAL and daily support level, both now acting as resistance. The daily support sits at $0.8939, with VAL just below at $0.8846. This zone has already been tested and rejected, making it a great shorting opportunity. Looking ahead, if bulls manage to push the price up to around $0.91, testing the previous low that broke and aligns with the 0.618 fib retracement of that drop, we’d have an ideal low-risk, high-reward short opportunity. Short Trade Ladder Strategy: Entry Range: Create a laddered short entry from the VAL at $0.8846 up to the 0.618 fib retracement at $0.9126 Stop Loss (SL): Place SL above the daily Open Target: Aim for a target in the support zone at $0.8–$0.78 Risk/Reward Ratio: This setup offers a risk/reward ratio of around 3:1 Stay tuned for confirmation signals as the price approaches these levels, and be ready to adjust if the market dynamics shift. Till next time! Happy trading and stay sharp =)
Short
by SiDec
1
Understanding PitchforkThe Pitchfork indicator, also known as Andrews' Pitchfork, is a popular technical analysis tool used by traders to identify potential support and resistance levels, as well as to gauge the direction of a trend. Developed by Dr. Alan Andrews, this indicator is based on the concept of median lines and is particularly useful in trending markets. How the Pitchfork Indicator Works The Pitchfork indicator consists of three parallel trendlines that are drawn using three key points on a price chart: Pivot Points: The first point (P0) is a significant high or low in the price action. The second (P1) and third (P2) points are subsequent highs or lows that form the basis of the trend. Drawing the Pitchfork: The middle line (median line) is drawn from P0 to the midpoint between P1 and P2. The upper and lower lines are drawn parallel to the median line, starting from P1 and P2, respectively. These three lines create a "pitchfork" shape, which helps traders visualize potential areas of support and resistance. Key Features of the Pitchfork Indicator Trend Identification: The Pitchfork is most effective in trending markets. The median line acts as a dynamic support or resistance level, depending on the direction of the trend. In an uptrend, prices tend to gravitate toward the median line and often find support there. In a downtrend, the median line acts as resistance. Support and Resistance Levels: The upper and lower lines of the Pitchfork serve as potential resistance and support levels, respectively. Traders often look for price reactions (bounces or breaks) at these levels to make trading decisions. Price Targets: The Pitchfork can help identify potential price targets. For example, if the price breaks above the upper line in an uptrend, it may continue to move higher, with the next target being the extension of the median line. Divergence and Convergence: The Pitchfork can also highlight divergences or convergences between price action and the indicator, which may signal potential reversals or continuations. How Traders Use the Pitchfork Indicator Trend Confirmation: Traders use the Pitchfork to confirm the strength and direction of a trend. If prices consistently respect the median line and the parallel lines, the trend is considered strong. Entry and Exit Points: Traders often enter trades when prices bounce off the median line or one of the parallel lines. Exits are typically planned near the opposite parallel line or when the price shows signs of reversal. Stop-Loss Placement: Stop-loss orders are often placed just outside the Pitchfork lines to minimize risk in case the price breaks through the expected support or resistance levels. Combining with Other Indicators: The Pitchfork is often used in conjunction with other technical indicators, such as moving averages, RSI, or MACD, to increase the probability of successful trades. Limitations of the Pitchfork Indicator While the Pitchfork is a powerful tool, it has some limitations: It works best in trending markets and may produce false signals in sideways or choppy markets. The accuracy of the Pitchfork depends on the correct selection of pivot points, which can be subjective. It requires practice and experience to use effectively. Conclusion The Pitchfork indicator is a versatile and insightful tool for traders seeking to analyze trends and identify key levels of support and resistance. By understanding how to draw and interpret the Pitchfork, traders can enhance their technical analysis and make more informed trading decisions. However, like all technical tools, it should be used in conjunction with other analysis methods and risk management strategies to maximize its effectiveness.
Education
by CRYPTONIC_trend
MACD 4C Bullish divergence As you can see the chart is sloping down, with the price going lower and lower. But if you look at the MACD 4C you can see the trend is going up, indicating that the selling is loosing steam. This divergence is hidden / bullish. This has been shorted relentlessly for days with the release on Coinbase. Soon I except price action to trap retail shorters who have been shorting heavily the past few days. Also if you tie in the pitchfork location and sections, lining up with the falling wedge is a good sign that we are lined up for a retrace on price very soon.
COINBASE:VVVUSDLong
by trad3zz
Coffee KC - Why I see $390 and $470 as possibleThe Medianlines project the most probable path of price. It's not a fortunetelling tool. It's a technical tool which is based on serious statistical research. So, what I do when I use it is, using statistical proven evidence on a graphical basis, supported by a definite trading framework. Why do I pound on these information? Because it's important to understand what Medianlines aka Pitchforks are based off, and what they are good for in trading. No "Magic", just a tool that helps a trader/TA in it's daily Job. ANALYSIS OF COFFEE The up-sloping white Fork shows us the most probable path of price. It's up. Price blew through the Center-Line, found support, and advanced even more to the upside from there. Then we have the slanted yellow dashed lines. What are they? Many say this is a action/reaction thingy. Others say, it's a timing tool. I say, it's both. The way I use it, it takes in the angle from the last real high, and the low of the pullback from it. Then I go back to the last low before the new high. This creates an Angle, and a width. Combined it gives us not only a potential timing, but with the dynamic of price movement also potential resistance/support. So, we can see where we got such signals - where the orange circles are. The second one intersects very nicely with the Center-Line of the white Fork. I observe this "incident" often when I use them. Back to Coffee...BRB §8-) We see the time/price line intersecting with the 1/4 line of the Fork. I expect a reaction there - even a pullback back to the Center-Line is possible from there. But if price also blows through this level, then I know that the next Target will be the Upper-Medianline-Parallel. So, there we have it. I hope you can take away some knowledge from this post and thanks for all the boosting and following folks.
ICEUS:KC1!Long
by Tr8dingN3rd
5
US10Y afternoon analysisTechnical analysis for US10Y. This count is looking for one more push up in yields, approaching (but not going above) 5.215%. Median line is target. This would complete an expanded flat that started in 2012. This analysis would suggest the end of the bond bear market is approaching, as long as 5.215% holds as resistance. Yields above 5.215% would suggest much higher yields are likely. Yields below 4.505% before move above 5% would also invalidate this count.
TVC:US10YLong
by discobiscuit
US30/DJI morning analysisTechnical analysis for US30 (DJI). Two bearish counts, both have corrective expanded flat for wave ii or b. Price tagged .5 fib retracement from ATH to 5 August low, tagged median line target with reaction/profit taking seen last week. There could be more upside towards ATH to complete the ((c)), but with these bearish counts suggesting either a zigzag or impulse down from ATH, 45105.1 should hold as hard resistance, and both these counts would be invalid with new ATH. Risk/reward attractive for a short position, with ATH as stop.
PEPPERSTONE:US30Short
by discobiscuit
Grab: Grabbing a RideGrab, often dubbed the "Uber of Southeast Asia," has solidified its position as a leading player in the region's rapidly growing digital economy, making it an exceptionally compelling investment. As of the latest reports, they boast a robust cash reserve of approximately $5.56 billion in cash and short-term investments, representing nearly 30% of its market capitalization. This financial strength provides a significant buffer for both growth initiatives and operational stability. From a financial perspective, Grab has consistently delivered impressive revenue growth, with projections indicating a 17-20% increase in 2024, and a potential acceleration in 2025, driven by its dominant presence in both the ride-hailing and food delivery sectors across eight Southeast Asian nations. Additionally, the company's adjusted EBITDA guidance has been upgraded by 15%, reflecting improving profitability and operational efficiency. Grab's strategic evolution into a super-app, integrating financial services such as digital payments and banking, further diversifies its revenue base, positioning the company as an attractive investment in a region poised for continued digitalization and economic growth. The company has been strategically managing its finances by increasing its cash reserves and reducing its debt, a move that has positioned it favorably in the competitive ride-hailing and delivery market in Southeast Asia. This financial strategy is evident as Grab has been reported to have decreased its liabilities while bolstering its cash on hand, aiming for greater financial stability and operational flexibility. Simultaneously, Grab's partnership with Uber has been significant; after Uber sold its Southeast Asian operations to Grab in 2018, Uber retained a 25% stake in Grab, which not only facilitated Grab's dominance in the region but also allowed both companies to benefit from shared technology and market insights. This collaboration has been a cornerstone for Grab, enhancing its service offerings and market expansion while maintaining financial health. $4.50 NASDAQ:GRAB
NASDAQ:GRAB
by lognomics
S&P500 & US30 Active DivergenceDivergence does not always have to be observed through the lens of a lagging indicator. Closes do provide powerful signals as to when a move is likely to reverse direction. They also allow us to enter with a smaller risk. Lets first compare the previous swing lows marked out on both charts (dotted orange horizontal line) on the 20th Dec 2024. Zoom in on the white arrows! What do you see with the closes? Now focus in on the S/R zone in purple. Notice that the block width is created from the highest high and the highest low of the same swing. These are very important inflection points from which to compare closes when observing divergence between both instruments. Now observe the yellow arrows!! What do you see with the closes when comparing the S/R zone in purple? Now look at the yellow UPWARD diagonal median line of both purple pitchforks . have they both touched the same median line? Yes or No? perhaps another line confirming divergence? As an additional confirmation the market has touched the upper line of both light blue DOWNWARD pitchforks on both instruments with the current candle Lets see if we get the reversal. Cheers
CAPITALCOM:US30Short
by inflectionpointtrader
Closing above Mother line & Pitchfork median line unsuccessful.Nifty tried hard to close above Mother line of 50 Weeks EMA and Pitchfork median line this week but was unsuccessful. Closing above 23433 is imperial for Nifty to gain a bullish momentum. Pitchfork is used to determine the long term trend of Nifty. In this particular chart the Pitchfork starts from 2021 and extends till 2026 end. The upper side has lot of potential as you can see the top is leading towards 32.5K+. Even the Median line is leading towards the target close to 29K. Supports for Nifty in the medium term because of the current bearish trend are at 22.8K, 21.8K, 21.2K, 20.2K and finally 200 Weeks EMA or the Father line at 19.5K.(This looks improbable as of now on chart as these levels are even below the pitchfork trend channel.) Usually the tops and bottoms of Pitchfork channel are not easy to break hence the worst case scenario as of now looks like 20.2K. Looking at the bigger picture IMF has declared a robust outlook for India for the next 3 years with GDP growing at an average of 6.63% for the next 3 years. (2025-6.5%, 2026-6.7% and 6.7%). However actual GDP growth can be much higher if the Government remains stable for a sustained period of time. The IMF estimates should be taken with a pinch of salt. Long term investors can utilise every fall to add some blue chips. Remain selective in Mid and Small cap space as the PE in some of the Mid and small cap companies are still at unsustainable levels even after this fall. For Bulls to be back in business we need a weekly closing above Pitchfork median and Mother line at 23433. Weekly Closing above 23433 would have potential to take us near 24.5K or even above 25.5K levels in the short to medium term. Closing below 22.8K can bring little more wait and pain for investors. Good effort by Nifty this week but closing was not good. We need a strong move next week for Bulls to be back to business. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. I or my clients might have positions in the stocks that we mention in our posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY technical analysis, big pictureTechnical analysis for NIFTY 50 Index. This count has price in price in wave c of Primary wave 4. The a and b wave of the zigzag may need to be adjusted, depending on how price moves down to target, which is the 15000-17000 area. Price never tagged the median line of the bullish pitchfork, did its best to stay above its bullish Hagopian line. As price continues to stay below 24857.75 (which is now key resistance), gravity should pull price down rather quickly towards target.
NSE:NIFTYShort
by discobiscuit
NAS100/NDX morning updateAnother look at NAS100. I added another pitchfork and Hagopian line, drawn off bearish pivots after 16 December 2024 ATH. The Hagopian line held resistance at wave ii. As long as it continues to hold as resistance, the red median line is the bearish target. Failure of the bullish pitchforks to hit their median line targets suggests price reversal. Two bearish counts after ATH. Count in green shows a zigzag, and count in red shows an impulse. The red count assumes that price completed a (b) wave of an expanded flat, (b) wave starting October 2022, (c) wave impulse targeting October 2022 low.
PEPPERSTONE:NAS100Short
by discobiscuit