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Pitchforks

BTC/USD Descending Wedge with Quantitative TighteningBTC/USD 1M Chart: This is the 4th Descending Wedge Pattern that BTC has been in on the weekly and this 1 month chart. Note that BTC broken downwards on 2 of its Descending Wedge Patterns before continuing upwards. Things we have to take into consideration 1: We are already in a world wide recession! 2: The FED is about to start Quantitative Tightening which may not be priced into the markets! 3: Quantitative Tightening will possibly take BTC to $12,00 and below! 5. The crypto spot market is controlled by the Binance funding rate! 4. Before the media says the country says its in a recession…… It already is. 5. Be prepared. If the MACD Line (Blue Line) crosses below the 0.0 Base Line into the Negative Zone of the MACD Indicator then BTC will OFFICIALLY be in mid-longterm distribution on this 1 month timeframe. Since March 2020, quantitative easing took BTC from about $3,800 to about $68,000, some may say this was even from 2011! So now that we are entering Quantitative Tightening! What happens next? Interesting times and opportunities ahead. I hope this is helpful with your trading and Hold-ing.
BITSTAMP:BTCUSD
by entertheroach
2
ETH reaching Andrew’s Pitchfork 3.618 This is a revision of my previous idea "ETH daily: potential H & S? a path from 1700 to 1100" Gann square & arc's crosspoint in my previous idea "ETH's support levels- analysis based on Gann Square and arcs" can be almost recognized as Andrew Pitchforks' 3.618 level (the outermost channel) in this analysis. While the breakout of the support here may lead to the 1100-1200 level as I analyzed in the previous ideas, a strong rebound is also expected if it failed.
Short
by jackrabbitrage
SPY - bullish (pitchfork analysis)This builds on my previous pitchfork analysis (see related idea which pointed to June 17th as the point of reversal and the start of the longer term bullish cycle). While that still stands strong, this is a smaller term analysis. SPY reached the intersection of 2 upper pitchfork lines (well, one bar off the intersection) after which it fell. Now it reached lower pitchfork line which is a likely point a reversal, turning bullish. SPY however may go down to the next red line before bouncing back up. Looking at other, longer term pitchfork lines I drew, SPY hasn't become fully bullish (that is, it reached higher order bottom pitchfork lines than the upper lines.
AMEX:SPYLong
by TradersForecast
2
Gold: Forks In The RoadTVC:GOLD Gold is at a crossroads... In the middle of the range, and at a level that has held support on many different occasions over the past few years... The 0.618 Fib level of the Covid low-high move, around $1680. I want to be bullish, I'm leaning bullish... However, I'm not confident enough to make a call here. Regardless of the direction, everyone should have physical metals in this insano world. Back to the chart.... I could see either scenario playing out. If the 0.618 Fib & trigger line of the orange fork holds support at $1680ish... I'll be patient and look to get long once the chart confirms. If the 0.618 fib & trigger line of the orange fork does not hold at $1680ish.... I won't short it, but I would think it gets back down to the Covid low around $1450. I'm looking to see which fork manages to hold price. It's tricky, so manage your risk accordingly if you're getting short or long here. I'll update the idea as it goes... Let's see what happens... Fat_Fat
TVC:GOLD
by Cousin_Fat_Fat
10
Long Wheat - Retrace RallyCBOT:ZW1! Wheat might be lining up for a retrace rally. Wheat appears to have built out a descending wedge while also printing bullish divergence on the RSI. Price has finally broke the wedge, retested, and continued moving higher. In that move higher, price has broke through the major descending fork that has held price for the last 3+ months. In addition, the Perry Kaufman Adaptive MA just printed a "Buy" signal. ( Thanks, @blackcat1402 ) I'm expecting price to continue higher up to the trigger-line of this descending fork. Plotting an ascending minor fork on the chart to project a path higher, a move to the .618 Fibonacci retracement level appears to be a likely target area. Target = 1076 USX aka $10.76 Fat_Fat
CBOT:ZW1!Long
by Cousin_Fat_Fat
7