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Pitchforks

US10Y Bounce at 3.332% then to 5.376 by Summer 2023The current pitchfork trend is holding and I'm looking at the US10Y reverse at 3.332% this month. I'm also expecting the fed to over tighten or some other news event to drive the US10Y to 5.376% by June 2023. The nature of pitchforks are able to easily visualize the physics of the market and I'll do my best below to explain what I'm seeing. From a price action perspective the US10Y broke the median from the beginning of time and is coming back to re-test it as support. As of August 2011 gap down to Jan 2014 price action has respected that median range through today. In the world of physics, when you have a huge swing away from the median, you'll also have the same energy swinging back in the other direction. Think of a swinging palm tree in the wind. The same is happening here and is illustrated by capturing the breakdown in Feb 2020 where price quickly broke trend then held the 3 standard deviant move down during the 2020 crash. US10Y has quickly made a move in the other direction and is preparing to breakout with huge force.
TVC:US10Y
by GammaRayGoated
📉✌XAUUSD 1H Short Position✌📈FOREXCOM:XAUUSD OANDA:XAUUSD Hello Traders, First take a look at my previous ideas on XAUUSD 💥Pitchfork Setup💥ThreedrivesPattern💥 If the price stays in the yellow box, a short position has a good chance of winning. (You can enter in several steps) The optimal entry point for a short position is mentioned in the chart. Don't forget to risk-free your positions. Optimal stop-loss is on the chart. Please share ideas and leave a comment, Let me know what's your idea. CrazyS✌
FOREXCOM:XAUUSDShort
by CrazyS
3
Is USDJPY forming an Elliott impulse?: Back to 141.2 then 135 If the chart is forming an Elliot impulse wave, and the sharp drop last week was the third wave of it, we will see the fourth wave correction and arrive at the short-term target of 135.0. As detailed in the related idea linked below, I would see an elongated range formation, and it could take years for the yen to recover its original level. Pitchfork. the arks, and the fans are additional TA elements in this analysis, so if you hate them, especially Gann Square, ignore them. Or skip this idea. Offensive comments aren't welcome (and will be reported)
by jackrabbitrage
4
BTC Elliott Wave Clue huntLooks like BTC has bounced out of the GZ and looks good for an Impulse up and 3 wave correction down. So is it a potential C wave or a Wave 3? If this is more than just a pump and dump, I will be looking for how price reacts to the Fibs and geometry here. The more dilly there is, the more I lean on it being a potential Wave 3 of an impulse. If you have found this inspiring/helpful, please consider a boost and follow! Also, check out the links in my signature to get to know me better! Cheers!
COINBASE:BTCUSDLong
by CryptoKnee
📉✌XAUUSD 1H Long Position✌📈FOREXCOM:XAUUSD OANDA:XAUUSD Hello Traders, First take a look at my previous idea on XAUUSD 💥Pitchfork Setup💥 If the price stays in the yellow box, a long position has a good chance of winning. (Enter in several steps) The optimal entry point for a long position is mentioned in the chart. Don't forget to risk-free your positions. Optimal stop-loss is on the chart. Please share ideas and leave a comment, Let me know what's your idea. CrazyS✌
FOREXCOM:XAUUSDLong
by CrazyS
4
Light Crude to 54.09 by Jan 13th 2023Light Crude has lost a significant level at 78.16 and is reverting to the mean at 54.09 as demonstrated by my pitchfork trends and sigma measurments. Pitchfork Price Action Analysis Light Crude has broke out of the recent uptrend (with red median) and broke away from the (red) mean on Jun 14th 2022 (priced at 123.68). Since then it has started to follow the down trend median with an attempt to break out on Nov 7 2022 (priced at 93.74)but failed to do so. Price is looking for buyers at the 68.15 and if it fails to find them then this trend will revert to the median trend that broke out in Dec 22, 2021. That will take Light Crude to 54.09 by Jan 13th, 2023. Flash Crash Should we continue the trend down I can actually see a flash crash to 40.63 by Feb 28th 2023. This will be the full sigma move and will be an area where I'll look to buy into a reversal.
NYMEX:CL1!Short
by GammaRayGoated
1
VIX setting up for a Santa Rally?I've spent a lot of time drawing on the VIX chart today since we are coming up on an area that defines 3 separate ascending wedge patterns with one starting before the 2020 run that we have tapped twice without making a lower low. And although that lower trendline is still quite a way down, currently at 16.57, it's not a far stretch if retail sales come out strong, JP keeps quiet, and there are plans for a Santa rally lurking behind the scenes. With that being said, we have just broken the next oldest pattern, and the youngest one not much farther down at 19.66 and the .86 fib of the 2020 run up is smack in the middle at 20.13 so for tomorrow, I have potential reversal area from 20.44 to 20.13 with 20.13 to 19.71 becoming bearish down to below 19. My argument for the upside is a bit more hocus pocus as I had to put on a pitchfork to even feel good about it, but we made the inside candle Friday, which, big deal, it was a half day, but following that with an outside candle on a retail rich week wouldn't shock me at all. So I'm gonna throw my dart. If we gap up, we hit around 21.30 and come back down to close between 19.89 and 20.13 in which case the case for breaking down past 19.66 becomes more likely. SANTA RALLY!!! But, if we gap down into that bounce zone and don't break the 20.13, then we still close high and and head back to Wednesdays high. I like this case more if we bounce off the Daily low and just double bottom. BUT, I'm still leaning to a high of 22.30 on the WEEK, just because I feel like the case is better stated for a downside overall. We just have much more reason to pull back down with the biggest reason being that we haven't retested that 2020 pattern for over a year. Historically I don't see any rhyme or reason except that VIX does tend to rise during December if only for a day, and even that isn't well structured. Sooo... who the knows then the VIX is gonna VIX. What we do know is that we have spent so much time in what used to be high volatilely territory that we've started to make a home here and that contradicts what the VIX is designed to do. We've held above averages, between $10-20, for more days and gone higher than we did in the '08 housing crisis, and all while our economy is too strong for its own good. So we've either become fairly melodramatic, OR we're setting up residence. If the latter is true then we can just throw out all historical data that predates circa 2018 and start anew. I personally want to see what happens if we break down below 16.50. Do we stabilize and go back to a boring trend style value market? Or does everyone freak out and rabidly buy everything in sight. All we can do is wait, and look to the right.
TVC:VIX
by goofoffgoose
XRP Got checked out of the LibraryOK crew, if you've been following my previous XRP "Stick a fork in it" idea, we made some pretty solid moves that really focused on ; A. Scalps and light profit taking B. Wealth preservation and keeping the portfolio in steady growth C. General price directions on the daily, which we nailed gloriously So moving to the new idea here (bonus if you got the library reference) 1. SEC vs. LBRY - Bad news, Google it but long short is that (at the very least) it has an impact on the crypto market at large and especially in the minds of XRP fam. 2. Check out the Core Scientific meltdown and it's effect on BTC hashrate. I've been warning everybody. 3. Clearly somebody knew something which led to the pump starting on the 16th of September. These guys always know and play the inside but I'm sure the SEC is totally going to go after them, lol. After 4 solid days of red candle action, we crescendoed beautifully with a net beatdown drop of just under 35%. Pretty sweet and all in hours of trading. 4. Blood moons - The guys that move markets are total occultists. Look at the way Doge moved running into the culmination of Halloween. Last night's blood moon eclipse and the resulting sell-off is just their way of letting us know who they are and what they're into. 5. On the purely technical side, we're well below our key MA's and with the John Wick candle staring us in the face, that wick is sure to engulf at some point which means lower level buying ops and shorts for those willing to risk handling XRP the wrong way. She can be a cruel mistress and you don't want to pi$$ her off. 6. Look at previous potential Golden Crossings and see how many reversed and never happened on the EMA's for XRP. 7. The Harmonic totally paid out on the short side but we got pretty good results with longing back in at the bottom of the longer term Fib channel / uptrend. Keep an eye on the down fork still in play although I'm still a fan of the engulfment theory. I probably missed a bunch of other stuff but this should do it. We're basically looking to add more on lower buy levels while minimizing and downside to the portfolio here. Good luck my friends! * * * Not investment advice * * *
by FudBox
6
XAU/USD Short/Long - 5/15m - NY/Asian - Nov 24/25 20222 trades taken, first short and last long. The short in the middle was another opportunity that I was looking to take but did not. Long term PF slope is clearly being respected and validated so we followed accordingly. First trade was entered after price failed to touch the major ceiling and broke below a significant bullish candle that foreshadows a break of the parallel floor. Smaller SL was used as this is an impulse entry. Second trade is when price started retracing after the break of the parallel floor. at that point, we would expect the broken floor to become a ceiling for price to retest if we have a significant retracement such as this. This trade was not taken but the idea is to enter impulsively after the break of the doji 1H candle which signals the leg down to the major floor. Third trade is the same as the second but the other way around, a long after the bullish break and retest of the parallel ceiling turned to floor. Entered on break of 15m candle after a short retracement to retest the floor with a larger SL. No partials were taken throughout both trades and 10% runners were left at 1:2 TP with SL moved to BE.
OANDA:XAUUSDShort
by MisterPitchfork
LTC Invalidate and see, Elliott wave. Here is just one of my bearish interpretation. Most would still point down. IF the price crosses $92, I would say the proposed impulse down would be invalidated. I wouldn't be sold on ATH coming soon just yet, though. I think that there is a possibility that this is just a W4 until that line is crossed. Furthermore, I am still looking at longs as well, a bearish chart does not make me a bear. If this move is a motive off of the low, Ideally holding $73 would keep this a W4 on the 1hr. 64.90 is where the impulse up invalidates. If you have found this inspiring/helpful, please consider a boost and follow! Also, check out the links in my signature to get to know me better! Cheers!
COINBASE:LTCUSDShort
by CryptoKnee
1
uni 3s up, 5s downStill looking for this asset to go lower. BUT first want to see a move away from the current price to keep the impulse on the lower degree valid. If it does invalidate the impulse down, would be looking for some sideways style correction. Only reached a bit past the .80 of the proposed wave A. but would still keep a flat as a possibility. If you have found this inspiring/helpful please consider a boost and follow! Also check out the links in my signature to get to know me better! Cheers!
COINBASE:UNIUSDShort
by CryptoKnee