This pitchfork is looking cleaner than it did last night. I think it will bounce off of resistance at 1.26733 and move to the bottom of the pitchfork. If the indicators, MACD and RSI line up I will take a long position back to the centerline. I'm going to keep looking at historical levels and might update this later. Watching a few other charts at the same time...
I may have just drawn the pitchfork incorrectly, but if not I'd say this is a clear example of a broken pitchfork. It failed the retrace to the centerline and on the retrace it blew through the upper bound. I'm not going to trade this. If it re-enters the pitchfork in a day or two I'll reevaluate.
I've seen bullish and bearish calls for GBPJPY for the next week. I'm just going to watch my pitchfork. There are multiple confirmations on the lower bound but the MACD and RSI are not favorable on the 4H or D charts. I prefer a MACD flip and RSI oversold before entering a long. I will monitor GBPJPY to see if it maintains this pitchfork and if the indicators...
Put a pitchfork on USDCAD. It started retracing back up at the 0.5 deviation so it's not the strongest pitchfork right now. I would prefer to see at least two more confirmations on the upper bound before taking a short. I placed an alert above the centerline and will be watching USDCAD for the next week.
I'm not sure which way GBPUSD will go from here. It's approaching a significant weekly zone. It may linger in the zone for a bit before returning higher. I'm just watching it for now.
I initially thought my pitchfork had been invalidated but after staring at the chart I decided to add the 2nd deviation band to the pitchfork and found that it's still following my bearish prediction. I moved my SL down but was too conservative and got stopped out in the night. I re-entered this morning. Unfortunately I was a bit hasty and didn't have the best entry.
NZDUSD is lower than it's been since November. I entered a short position at 0.67177 and moved the stop loss down from it's original position. The next major level I marked on the zoomed out chart is at 0.65399. While it follows this pitchfork I'm watching for any opportunities to scale into a larger position.
I zoomed way out and found the significant support and resistance lines EURUSD has respected over several years. Based on those S/R's I can see EURUSD either breaking up from here and testing the Weekly horizontal or continuing lower, testing the diagonal until retesting the lower zone.
BTC is still following the pitchfork down to the next zone around $35k. I expect it will move sideways inside the zone soaking up fills and possible wicks into stops.
I dollar cost average BTC with regular direct deposit, Blockfi credit card, Coinbase USDC card, and Revolut roundups. Considering where BTC could go in the next 10-100 years I don't want to trade...
I looked at this setup last night and set an alert. After the Sto RSI bottomed out on the 1H and the price tested the bottom zone I opened a 1:3 RR at 0.67599 with TP at 0.68299 and Stop Loss at 0.67327. I'm trading on a very small account or I would place a partial TP at 0.67936. I'll be watching and move the Stop Loss up to a zero risk trade once it clears...
I'm watching GBPUSD to see if it tests the support zone and uptrend line. It's in a general bullish trend so if it retests in the next couple hours I will look to enter a long near 1.36.
I've been playing around with different indicators but trying to keep it simple. I really like the SpacemanBTC Key Levels.
I think CADJPY was trying to break bearish out of the pitchfork but caught resistance from the monthly high and monthly open. The 4H and Daily MACD and Sto RSI may be moving to flip bearish. I wouldn't trade at this point because I don't...
FX:USDCAD
The MACD on the 4H indicates USDCAD is starting to lose bullish momentum but the Daily shows it is losing bearish momentum.
Sto RSI is between 80 and 20 on the 4H but trying to cross into a bullish reversal below 20 on the Daily.
Since it has rejected the bottom of the zone I marked for the last four days while below the first deviation band of the...
Price has fallen below the lower bound on the Daily. I'm looking for it to retest the lower level at around 0.905 before returning near 0.92. If it tests and clears 0.92 I will consider opening a long position.
I tried trading LTC on GDAX back in 2017. I lost enough money to realize I needed to learn much more before jumping back in.
I really haven't been following #LTC so I identified some significant levels to watch.
