Using the extension of the Lower Median Line Parallel of a Reverse Andrew's Pitchfork to spot the beginning of a trend reversal after a long rally
Maybe setting up for a bounce, if above downsloping trendline it could go higher also closing in to a support level of the horizontal line
breaking the trading channel to the downside MtS downsloper in effect Holding on to support, if not more weakness coming.
Similar setup for the GU, as you can see it is forming a "Head and shoulders pattern" (I don't trade chart patterns) . Price is moving in a very organized way and that's curious to see. Hope you like me analysis even though it is hard to understand xD. Feel free to ask me anything about my analysis :D.
Confluence of normal pitchfork, modifed schiff and a good demand zone.
EURUSD with Shiff median line targeting rather large collection of bids around 1.0880-1.0890 For up to the minute trade executions follow me on Telegram AlphaOmega FX and futures trading signals t.me
Low Risk Low Reward Setup Bullish Hammer on 4h Chart Price is on an uptrend Retest on 8 EMA on 12h chart Risking 10 PIPS (SL) for 30 PIPS reward (TP)
("FCT" = Fractured Counter Trend) Here I used a pitchfork based on the first fractured CT from the December 2018 structural low. It seems to fit the action quite well, so, IF Bitcoin drops below its current dip (the low of the larger FCT - high blue arrow), look for the turn around at or near this rising level (as indicated). Likely a hit of the top of the...
Let's see how this setup plays out over long period of time...!
Wait for the close above the pitchfork!
Possible entry for ladder LONG positions @ $5070-$5050 33x leverage NO more than 5-7% of acct size Stop Loss: $5030 TP1: $51xx TP2: $52XX