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Pitchforks

Bitcoin Road Map (Daily Time Frame)🗺️!!!Hi everyone👋( Reading time less than 2 minutes ⏰). First, I must say that Bitcoin reacts well to 🍴 Pitchfork lines 🍴, so one of our criteria for support and resistance lines for Bitcoin can be Pitchfork lines in the daily time frame⏰. In theory, Bitcoin Elliott Waves completed its five impulse waves at a 🔴 heavy resistance zone($ 31,750-$ 28,140) 🔴. 📚 Teaching Tip 📚: Mostly, heavy support and resistance areas are not broken with a single attack. Bitcoin has been moving in a descending channel for about 2 months. The structure of the waves in this descending channel is Double Three Correction(WXY) . Bitcoin is currently completing microwave B of the main wave Y. I expect this wave to finish above the descending channel and in the 🟡 Time Reversal Zone(TRZ) 🟡. The end of the Double Three Correction structure can end in the 🟢 support zone($ 25,280-$ 24,410) 🟢. Bitcoin Analyze ( BTCUSDT ), Daily time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
by pejman_zwin
14
Long FTX TokenBINANCE:FTTUSDT FTX Token - FTT has exited the major descending fork after printing an RSI Bullish Swing Rejection on the daily timeframe. The next logical target for FTT is the trigger line of the major descending Pitchfork. I plotted a Modified Schiff Pitchfork and an ARC on the chart, to demonstrate the likely paths to the trigger line. Both have held price well up to this point. I went long with a stop just below the prior low pivot. Entry = $30.60 Stop Loss = $28.55 Take Profit = $40 Fat_Fat
FTX:FTTUSDLong
by Cousin_Fat_Fat
2
XAU/USD Short/Long - 5/15m - Post NY Open - May 23 2023Using the long term PF , we can see that price has respected a major support once again and jumped up to one of the parallels that was used as support/resistance before. Looking at the short term PF (purple), price was also rejected a resistance which is why the first trade was a sell after price broke that red channel. This red channel is usually drawn when price seems to be dancing around a major support or resistance and it can be seen that is was respected in the recent past. First trade had a stop above previous high and was taken at the retest of the red channel on the 5m. The trade idea was that price could go down to test the major support from the long term PF once again. Once we realized that price is recovering and respecting the lower bound of the red channel, the sell was taken out at half the SL since it was obvious that the SL will eventually be hit. The second trade was a buy on the premise that price is now respecting the red channel which it did and it went up to the other channel boundary. The TP was put at the channel top boundary since it is highly likely that price will touch it after testing the lower boundary. The SL was put below the hour candle and under the lower boundary as well. Price hit TP where we took 90% profits, leaving a runner set at $1983 as our TP2. This is likely to happen as price has broken/retested the larger time frame parallel and will head to the next parallel as we have seen it happen before. No partials were taken and it was a fairly quick move.
OANDA:XAUUSDLong
by MisterPitchfork