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Trendchannels

EDUCATION: PitchforkHello, dear subscribers! Today we are going to consider a very important tool of trend trading - the pitchfork. What is the Pitchfork? The pitchfork is the variant of the trend channel. The difference is that pitchfork has an inner additional channel inside the big main trend channel. The median or the centraline divides these channels in to two parts. It is commonly known that the price usually tends to vary in the upper or lower pitchfork half. Thus the price can often find support and resistance next to resistance, support and central lines. Support, resistance and breakouts When the price breaks through the central line the price changes the half of the pitchfork. Sooner or later there will be the massive brakeout as a result of which the price escape the pitchfork. In our example the price broke through the resistance line and found the support above it. If the price has an attempt to return back to the pitchfork and this attempt was rejected we can expect the massive price growth. Trading Let's talk about the trading opportunities into pitchfork. We should observe carefully the monents when the price is next to the resistance, support or centraline. If there is a confirmation of the bounce off it the position should be executed in the direction of this bounce. DISCLAMER: Information is provided only for the educational purposes and should not be used to take action in the markets.
Editors' picks
Education
by Skyrexio
39
The BTC price next movementHello, dear subscribers! Last time we told about possible BTC price movement scenarios. The first one (green line) demonstrates that the price could rapidly break through the CPR R2 line and reach the $28000. The second scenario reminds the most likely to happen. The price bounced off the CPR R2 level twice and decrased to the CPR R1 level. After it bounced off the this level because it is the strong support. Globally we have the ascending trend channel breakout at 16th December and today there was an attempt to re-enter to this channel. We assume that the price will try to re-test the $24000 level and can break it through.
COINBASE:BTCUSD
by Skyrexio
1
Are we at the edge?Please see link to my previous idea for XAGUSD - I'm looking at the prospect of silver dropping next week followed by a ranging period in the 19.000 - 20.000 levels towards the end of Q4. Providing it can stay inside the trend channel, price should look to move back towards the top line. Quick impulses upwards would indicate a bullish breakout and a move back up to test the 2020 high. When the outlook is better post Covid and when all things become fully operational, manufacturing should pick up. As a result, demand for silver shall increase. In brief, a short term short followed by a longer term move up. Do leave a comment if this idea caught your attention. I'm keen to hear your thoughts and as always, a like to show your support is much appreciated. Disclaimer This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only. Do not trade or speculate based solely on the information provided. Trust your own analysis. Beyond Edge
FOREXCOM:XAGUSD
by BeyondEdge
Short Term Short, Long Term Long? Haha!- Please see link to my previous idea for XAGUSD - I'm looking at the prospect of silver ranging in the 19.000 - 20.000 level towards the end of Q4. Providing it can stay inside the trend channel, price should look to move back towards the top line. Quick impulses upwards would indicate a bullish breakout and a move back up to test the 2020 high. Do leave a comment if this idea caught your attention. I'm keen to hear your thoughts and as always, a like to show your support is much appreciated. Disclaimer This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only. Do not trade or speculate based solely on the information provided. Trust your own analysis. Beyond Edge
FOREXCOM:XAGUSDLong
by BeyondEdge
AUD/CAD Is a Long?Good day, snipers. Here in AUD/CAD , price seems to reject the 50 EMA and support zone. Price also is nearly at the bottom of the up trending channel. Will be looking for price confirmations before going long on this pair, or maybe not. Signals about possible entry, TP, and SL are sent to students. Follow me on tradingview for more ideas and sniper entries. If you liked this idea please click that thumb's up. Ideas posted are not financial advise, but merely just to give insights and education for traders. Past performances do not determine future gains. As sniper traders, we tread carefully, then we take shots immediately. Join the discussion down below.
Long
by SniperFXFree
AUDNZD Short Opportunity - Catch the DowntrendAUDNZD is traveling in a trend channel that's visible on the 1-hr chart. Price deflected off the upper guardrail today and, as expected, sank lower, solidifying the downtrend. The target for the AUDNZD is the lower guardrail on the channel. Since price is expected to go much lower, now is the time to catch the downtrend. It would be nice to wait for a pull back before locking in a short position. On the fundamental side, given rising COVID-19 cases in Australia, it is clear that lockdowns will have to be prolonged, and we will likely see more and more cases as the days go buy, leading to worsening sentiment in the AUD. Since New Zealand is doing relatively better in controlling the virus, I expect price will continue in a downtrend for the next few days, though we can expect consolidations and corrections along the way.
Short
by Muqsitali
GBP/AUD Short ShortsGood day, snipers. Here in GBP/AUD, we can see that price starts to retest the upper zone of the trend channel accompanied with a minor resistance formed that could lead to a double top formation. Wait for a confirmation first before going short. Also we are with trend so no longs for me now. Possible entry to be sent to students. Follow me on tradingview for more ideas and sniper entries. If you liked this idea please click that thumb's up. Ideas posted are not financial advise, but merely just to give insights and education for traders. Past performances do not determine future gains. As sniper traders, we tread carefully, then we take shots immediately. Join the discussion down below.
Short
by SniperFXFree
CAD/JPY Trade ReviewCADJPY Trade Review I posted this Trade Analysis here on Wednesday. This trade was awesome. Price went up above the Weekly Supply and reached the top of the Liquidity Zone as i predicted in my previous post. The Banks and the big Institutions cleared the previous highs and the stop loss of retail traders who were in shorts (sells). Everyone believed the market was Bullish and started buying. Market Manipulation. Lol The price crossed the 80 mark and many breakout traders entered the market, Buy stops were triggered. Then the real move happened. The price hit 80.10 resistance. The Market then reversed and did a huge drop just as i predicted. A lot of buyers were trapped. the stop loss of many buyers were hit. I was not trapped because i understand Market Manipulation and I follow Market Struture. Sold the pair at the top of the liquidity zone. 100 pips and more in Profit. All Supply and Demand Traders know that every gap/void must be filled. The market filled the Gap in the Liquidity zone and went to target the stop loss of traders above the Weekly Supply Zone. Now that they cleared the stop loss of the retail traders (both sellers and buyers), the Banks and Institutions used all the liquidity to do the real move down (Sell). Lol Happy Weekend!!
Short
by Benettel