Pitchforks
Absa Begins Descent into Weekly LowAbsa is now in a failed daily cycle, price therefore is seeking a weekly low price in lower highs and lower lows formation. Currently price is due a weak bounce before continuing further downside. Curious is whether price will go lower than 8 May low, I place this at higher probability as price also pursues a yearly low price. We can look at the median line of the Pitchfork and/or the trendline support.
2Y Yields LowerTVC:US02Y
2Y Yields heading lower.
Sometime over the next 12-18ish months, I believe we'll see 2Y yields fall to 200-275 bps.
Headline inflation numbers are lower and dropping.
The Fed has effectively pulled a rabbit out of a hat in the act of raising interest rates by ~500+ bps, while avoiding the obliteration of the economy. (thus far)
If the economy does falter in the coming months; the Fed will lower rates.
(No further explanation needed)
Despite the endless repetition of "higher for longer" from Fed officials; I believe that the Fed will lower rates even if the economy and markets remain strong.
The establishment powers in the political & financial world's that the Fed straddles both crave the same thing... Cheap Debt.
In addition to this, there are over $34+ Trillion reasons to lower rates as soon as possible.
Not to mention, the upcoming election...
The market is anticipating lower yields as well.
We're seeing the market preemptively increase exposure to interest rate sensitive assets.
(i.e. - tech stocks, indices, cryptos, beaten down govt bonds, etc.)
On a technical basis, the weekly chart of 2Y Yields is showing substantial bearish divergence.
Weekly RSI shows a bearish RSI Swing Rejection (March '23 and October '23 highs)
The 50% & 61.8% Fib levels give us a target of 200-275 bps.
The median line set suggests that yields could arrive at the target area sometime between May '24 - May '25.
Conclusion: Short Yields.
Fat_Fat
📈Bitcoin golden position for left behinds📉BINANCE:BTCUSDT
COINBASE:BTCUSD
Hello dear traders. Let's make it simple. I think:
Bitcoin will retest lower levels around 35k. (But the most important dynamic level is the weekly Bollinger midline.)
Then the targets for the next jump are 45k, 47k and then 50k.
Above these levels, the most important price resistance is around 52K and 55K.
I personally bought some bitcoin close to 40k and will keep buying until the price is above 35k. (As you can see, Bitcoin touched the mid-Bollinger line on the daily TF)
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DRD Gold Back in Broadening WedgeDRD broke out of the broadening channel trapping many shorts, price rose sharply but then reversed sharply, classic action of price fueled by short covering. Now price presents with a failed daily cycle, the current uptrend can be expected to be halted at the resistance of the broadening wedge then turn down lower than recent lows to the median line of the Pitchfork.
The support of the broadening wedge would be interesting for a weekly cycle low, most hinges on what recessionary realities bring into the markets, there is expectation of all assets to take a hit.
Aspen With Weekly Low Confirmed (Bullish)Aspen confirmed a weekly after finding support at the 200 week moving average, now price is seeking a half cycle high. On the RSI we can see it reaching an overbought level with TSI stretched to the upside, we can expect a pullback from here while price seeks to cool off the indicators before seeking to breakout from the purple Pitchfork resistance. It is also noteworthy that the low price setup a double bottom whose full confirmation indicates that price will reach the resistance of the weekly grey Pitchfork.
Shibainu ... Technical analyst Shiba is located in this pitchfork channel and will move to higher areas with the fluctuation after this correction.
Forthusdt ... Pitchfork channels The forthusdt is located inside the pitchfork channels, and I have drawn the targets with imaginary lines.
INARI start moving down toward 1.50 +/-. 4/Dec/23INARI's 1.50 +/- is confluence zone of 1) POC of volume Profile. 2) Demand Zone 3) Lower Support of Parallel line.
Long AlgorandCOINBASE:ALGOUSD
Long Algorand
Targeting the intersection of the trendline and median-line. which also coincides with the 1.0 Fib Extension.
Price Target = $2.30 - $2.50
Time Target = Feb '25 - May '25
Fat_Fat
Coinbase BreakoutNASDAQ:COIN
Coinbase Weekly chart is breaking out of an inverted head & shoulders pattern.
The move from the lows to the neckline of the pattern is about 262%.
A 262% move starting from the neckline will take Coin right back to the ATH from the IPO, $429.
Fork intercepts the ATH in late July 2024.
Staying long if the price stays within the fork.
Fat_Fat
📈Bitcoin weekly prediction, 40K or 32K?📉 BINANCE:BTCUSDT
COINBASE:BTCUSD
Hello dear traders. If the price of Bitcoin stays above Bollinger midline, Bitcoin can continue the bullish scenario up to the target of 39K-40K.
This week, the price of Bitcoin is in a stabilization trend and has lost its upward momentum at the level of 38 thousand dollars. (in yellow).
The Bitcoin Dominance chart is in a 5-day time frame, and according to the formed pattern, it is expected to decrease to the specified area. On the other side, Dominance Tether (Weekly TF) has hit an important support line, and the probability of its upside has increased.
All in all, in my opinion, until the price of Bitcoin falls below the support of the yellow line, there is a possibility that it will rise to test the level of $40,000. But if the price loses the red support line, then the $32,000 area will be a strong support for Bitcoin in a bearish scenario.
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📈Bitcoin weekly prediction, 40K or 32.5?📉BINANCE:BTCUSDT
COINBASE:BTCUSD
Hello dear traders. If the price of Bitcoin stays above Bollinger midline, Bitcoin can continue the bullish scenario up to the target of FWB:39K -40K.
In this week, bitcoin price breaks the ascending channel (in yellow).
Overall, in my opinion, as long as the price of Bitcoin does not fall below the red-line support, there is a possibility that it will go higher.
But if the price loses the support, the level of 31,700 to 30,200 will be a strong support for Bitcoin in the bearish scenario.
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150 UJOANDA:USDJPY
Long UJ, Energy Point around 150 in mid-July.
Entry = 133.99
Stop Loss = 129.40
Target = 150 (+/- 1)
Fat_Fat
Gold fighting up?a new pitchfork has shown up and the price is moving in its lower channel in a relative strong uptrend. However regarding to FRS hawkish statements a break from 1980 to 1970 or even 1962.30 is still not impossible. However, more probable idea is continuing the uptrend to 1990>>>1993.33. After that 2000 and 2009.41 will make problems. On the other hand, the time analysis of pitchfork shows that the price should probably touch the middle line of the fork until 4.December.
It would be very nice of you to share your Ideas in comments.
Why I Buy MacDonalds With Both HandsMCD tanked impressively lately.
I had no clue why.
Then I checked the News, which I very rarely do.
There was one article that made absolutely no sense to me:
"Concerns about weight-loss drugs:
There are some concerns that the growing popularity of weight-loss drugs, such as Ozempic and Wegovy, could take away demand from food companies like McDonald's."
To me, this writer has inverse Logic.
Why?
Because if I would love the (crappy) MCD Food, and I could just take a Pill and loose weight, I would probably eat more at MCD.
However, I buy with both hands since MCD is a the Center-Line of this Pull-Back Fork, as soon I have some indication.
(Heads Up: Earnings ahead!)
And remember: You can buy, even when you sell (...hint: Puts). It's the Buffet way. If price close in the money at end of DTE, you got the Put's premium, AND the Stock for a way cheaper price. If price is closing out of the money after DTE, you keep the premium....double Whopper §8-)
Away for a healthy Burger at $MyOneKitchen.
Gold. where to long for 1995 +/-? 15/Nov/23XAUUD's 1958 +/- is confluence zone of 1) Breaker Block 2) Order Block 3) Median line of Pitchfork.
Gold still possible to reach 2050-2065. 14/Nov/23XAUUSD possible found its "base" @ 1930 +/-. which is a confluence zone of 1) Order Block 2) Fibo 38.2% 3) Parallele line support of pitchfork ( thick blue). Long gold @ 1940 where there was a hourly order block.
Is Bitcoin Rally Losing Steam?Bitcoin is in week 21 of a weekly cycle, this is a point where price usually finds a top. The indicators are stretched in an overbought territory, recent rallies higher have only built negative divergence on RSI and TSI, price is facing rejection at 0.618 fib level of the Pitchfork. Another interesting thing to note is that in bitcoin rally we need to see bitcoin miners outperform the asset however the bitcoin miner counters remain depressed with most in a failed weekly cycle. The bitcoin miner prices are at a level when bitcoin price was $24,900. Either the miners know bitcoin must tumble or they are suppressed while big money positions itself. I would place higher probability on Bitcoin tumbling.
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Still in from, avg, 1661🧵, TP, looking to add.
My 2 fav Elliotwave counts atm.
Again, no top call, could keep going.
IF...THEN.
Called the turnish, took the BTC long instead.
Missed pivot, by 5$... will work on this.
URJA GLOBAL is an excellent buy idea!Stock is at excellent confluence support of demand zone, AVWAP and central median line of pitchfork..............in addition RSI is above 50 indicating bullishness......buy for bumper gains
SOLARA ACTIVE PHARMA is an excellent buy ideaStock is at the lower median line of pitchfork.......also positive divergence in RSI........Stock can be bought for good moves in coming days
PAUSHAK IS AN EXCELLENT BUY IDEAStock is at confluence support of lower median line of blue pitchfork and AVWAP...............RSI set up is also too good......expect some explosive moves in coming days!
