pitchforktrader

pitchforktrader Updated 

The Elliot waves is on it's fifth, and the pitchforks also suggest a top could be near. it is unclear if we could see a bit more up before a drop, or if it has started already. the larger fork has a bit more room to the upside and that is why it is a bit unclear as price "should" have reached the top paralel of the big fork, there is plenty of supply above with...

pitchforktrader

For long term investors and trend traders, we can see that price have now pulled back to the old trendline brake. this is a golden opportunity to short as we also are on the top of the fork, minimum price could drop to the median line, is this realistic? yes it is, the fork speaks it's clear language, if this stops dropping here, there is a 80% chance of hitting...

pitchforktrader Updated 

Eu broker higher outside the fork top paralel which is great, but how do we do now when the old fork is just about useless? it's simple, we just meassure the old distance between the medianline and the lower paralell and project that from the brakeout, we will only see the brake out if we move the gap down to where it should have been if there wouldn't be any...

pitchforktrader Updated 

Long reversal trade are setting up on Euro, we have a nice confluence at 61.8% where 32.8% of the large swing are coming in, and the median line of the large fork. it seems we could have a triangle forming right now, so that is the realistic expectation T1, target 1, then if we are very lucky. maybe we could brake the non existent triangle in the future and go sky...

pitchforktrader

The fork can really make us see levels we otherwice didn't think of, I know, everyone is expecting the gap to be filled soon, but as we can see based on the charts, that could take some time. we are standing at the median lines of 2 higher timeframes forks. I too think that we will eveventually close the gap, but I think based on this picture we could se a lot of...

pitchforktrader Updated 

we broke the apex on the triangle left, that means the bears now is in control, hoping to close the gap, we could continue watch that apex so the bulls dont get hold of it, price should stay below for short trades

pitchforktrader

This "fits" really good as wee can see the possible AB=CD pattern forming with the D precicely at the supply level and at 50% retracement. the characteristics of a AB=CD is that they are extremely bullish or bearish depending on direction, that is why I think this could be a AB=CD pattern and that it "fits" makes it better, it looks to be a very good short trade...

pitchforktrader

EU is in a triangle, it should come down mid term, since it already hit the roof, thats what triangles do.

pitchforktrader

price is bullish but is running into supply at this moment, it could be a very good short

pitchforktrader

The trendline is first logical target for now, so we should think that it will probably go there at least. after that we don't know. it will probably be a good idea to take some profits there.

pitchforktrader

some more pips to go maybe, I kinda expect it to go to the lower paralel.

pitchforktrader

There is a major trendline coming in on the Daily timeframe EURUSD, there have been only 2 touches before, but Oboy did it react from it! suggesting a short trade with first target, the rest is up to the market and your self

pitchforktrader

4 hour

pitchforktrader

Daily

pitchforktrader

Weekly

pitchforktrader

Major weakness detected on Loonie, if we begin from the close of last week, we got a beautiful sell signal in the form of a shooting star on the weekly timeframe, then if we continue to analyse the weekly fork, (black) then we can see that the pair failed to reach the upper paralell of the fork, which is a very bearish sign, it is a topping pattern and a major...

pitchforktrader

I think this is a possible schenario I would like to see,

pitchforktrader Updated 

Here is the fork on Cable 1 hour chart, be sure to watch that down sloping trendline, it is the larger median line from the Day and week. it that brakes below, it is good news, Andrew stated that, if price can not reach the median line, it will go down. so if it can not reach the median line on the H1 fork, it should go to the lower paralell on the H1 fork to...