I'm interested to see what happens if/when price gets down to the blue triangle area where multiple lines of potential support over lap. These lines include a potential reaction line (you can see price respecting the angle of these black action/reaction lines, both top and bottom), a black resistance turned support line (highlighted by red and blue circles), a...
Between pivots 1-4 we have lower highs and lower lows. Price at 4 has come back up to retest an area of resistance of proven sellers who pushed the market down from number 2. I have drawn a down sloping blue median line which price is respecting nicely (highlighted by blue arrows) and a black pendulum pitchfork not drawn from the lowest low at 1, but from another...
FX:NZDJPY
Potential long setup on NZDJPY next week. Price has fallen to an area of support and produced a candle with a very large lower wick showing some buying pressure after a bearish few days. We have a few things converging to this area including the black reaction line projected forward. I've drawn an upsloping blue pitchfork from the hypothetical C pivot...
BTC is very close to breaking, and staying above that Pitchfork Resistance line and turning it into a major support! BTC may retrace and test the support of this resistance its trying to get through before it breaks higher through the last Pitchfork resistance line. If BTC does break through both Pitchfork Resistance Lines then its a sure fire rocket ride to...
Let's have a look at $BTC again. BTC is so close to making a new All Time High. If we look at the weekly chart, we can see that at the moment, BTC as found a bit of resistance at the upper Pitchfork Resistance Line. Depending on when BTC breaks through it and depending on when it breaks through it's 100% Fibonacci Resistance Level which is its ATH, then there is a...
ADA is looking really fantastic on the daily chart. ADA is pushing hard on that 78.6% Fibonacci Level and looks like we will also break through the first Pitchfork resistance. We have broken through our Ichimoku Cloud resistance and are now in the bullish zone with quite a bit of distance from our last yearly high. Looks like it could be a good Christmas. Good Luck
