After sitting between the 200 weekly moving average & the 50% retrace/yearly open, we've broken to the downside. Currently capped by the monthly VWAP. Untested pitchfork formation Monthly open @~$6444 Still short off the 200 weekly average
Trifecta of pitchfork resistances: 50% of decade long pitchfork Median line .382 Daily 30 min
Triple top forming on strong resistance? 200 Week moving average 50% retrace of Feb-March decline Triple bottom lows back in 2019/2020 RSI turning at 50 We have broken out of this pitchfork formation though, a quick break back inside would confirm bearish stance. 30 min pitchfork
This pattern from the height of the financial crisis (late october/early november 2008) has crazy parallels to the current crash, and sets up for a perfect 5th wave down. Obviously it won't be perfect but the general theme is we're heading for a new low.
2 weeks ago I noted we closed on solid support, and the subsequent bounce took us right back to another failure at median line resistance. Was that bounce the 4th wave? 2 Shorter term pitchforks www.tradingview.com
Fairing much better than the spy/dia, the nasdaq ended the week on support (March/june 2019 lows) & 38.2% slope on long-term pitchfork. Below here the 38.2% retrace of entire financial crisis recovery & the 200 Week MA
Plummeting through the trend line where is the support? 50% pitchfork off entire post financial crisis climb/2015 highs
Broken both the lower slope and 138.2% slope (acted as resistance during 2014/2015). Next key support is the August 2016 high, which coincides with lower slope on daily pitchfork.
key resistance to break is the 200 week moving average This 4hr pitchfork still in play
Median line held up well, top slope & 38.2 retrace key resistance 30 min
Clean median line through 2019, pretty choppy on recent volatility
The 618 pitchfork line catching the bottom, will the median line act as resistance?
After capitulating through the trend line on thursday, the last 30 min ramp back to re-test the line on friday
First the median line catches the 1st weekly decline, and then the lower slope acts as perfect support on friday. 2 More pitchforks:
This pitchfork still dictating price action, even after brief false break in February. Current resistance level is the median line, support is the 200DMA. Break through here and a retest of $9500 is likely, fail and a push back to 200DMA. Short-term pitchfork
Median line provided key support through yesterday, losses accelerated when broken. 50% fib is now support, below that is the lower slope & the previous pitchfork top slope. Break through those areas and ~$9600 is the next support level
After being buoyed by a surprisingly hawkish BoE, the £ was crushed last week amid fears of a hard brexit & general $ strength. Here are the levels to watch next week: 200DMA ~$1.27 200 Week MA ~$1.277 50% fib Sept -> Dec advance @$1.273 2019 open also exactly on that 50% fib Long-term median line (pink) More levels on the Daily 4Hour pitchfork