The pair is bouncing off the monthly 200 SMA blue line and this could lead to an upside continuation into the 112 level. Using the top-down trading technical analysis we have identified the potential trading opportunity on this pair. The daily chart is revealing the entry point, the stop loss

The pair is testing the previously broken Pivot Point 0.9426 level, as it can be seen on the daily chart below, after a break above the median line of the Pitchfork channel. This is proving to be a valid support for the upside continuation higher. Using the top-down trading technical

On this weekly chart we are drawing Pitchfork channels on USDJPY. On the weekly USDJPY chart we can see that the utrend Pitchfork channel has been broken to the downside at the 112.716 level. A new Pitchfork downtrend channel has been formed and we are seeing an extension lower into

Let us see where are the opportunities and market positioning in the cryptocurrencies. Ethereum – the instrument is breaking below the 200 SMA 550 level and is confirming a break. The key level for the downside continuation is 440 followed by 340 level. A break below is opening more downside.

This education addresses those who want to learn to use the Andrews Pitchfork trading tool.   During our years of trading, we have used a lot of trend lines, chart patterns to trade the market but Pitchfork channel trading strategy has definitely changed my analysis and trading, and I would