4h closed above the .618 draw from local low to local high. Good r:r for a long targeting the area around the 200ema (4h)
In forex trading, the Fibonacci sequence can also be applied to market behavior to find high-probability trading setups on a wide range of timeframes. Fibonacci retracement is based on the idea that markets will retrace a predictable portion of a move, after which they will continue to move in the original direction. Fibonacci retracement is created by taking two...
EURUSD Breakout Point Or Double Top? Upside has more factors in its favor: 1. Longer tern 61.8 Fib level to complete the pattern target 2. 200SMA above getting closer 3. On Weekly it can test 1.11711 level which 50%
NU Daily Update: Short Bias
Just a tiny overview with our fibs short term, longterm and mixed to find highs/ lows and in-betweens. I believe we will go down but, that is not what this about.
Waiting for price to reach the 618 level which is also previous support/resistance area. Will only be looking take longs once price reaches the area. If not, will look for another set up. Possibly a continuation set up for this pair.
Still a ways out and we may push down further but this is the short I am looking at on EURUSD
I got short almost 10 days ago. Market has now put in this sideways channel, if we break up I'm out but if we break lower there is a good chance we will see a retest of 1.103 were my target is placed.
LTC is currently in a steep downtrend on the ltf chart. Expect price to stall in the golden pocket and bounce towards target.
Hi, We can see TRX/BTC has punched through the daily 200MA and the 618 fib level with a bear flag. if we take the length of the flag pole it will proceed down very close to the 786 level. if it gets this close it will ping it. (TRON likes to throw wicks out to its fib levels but then hits them anyway). however there is a possibility we are approaching the bottom...
We've seen a decline in the Euro since early January rejecting the weekly key level and breaking the monthly key seen at the 1.66250 price region. The Euro has seen a lot of pressure with fundamentals, Mario Draghi speeches and certain rates being held till the end of 2019. EURNZD has seen a nice clean break and retest of the counter trend line and pinged off...
So after the flash crash seen on the 3rd of January, seeing the Japanese Yen soaring, we saw price recover back above the 0.69750 psychological price region. A higher high was created followed by a higher low as anticipated. A higher high is created around the 0.73000 region, seeing a 2nd touch of the descending trend line, followed by a lower low and lower high...
I was able to spot a W,X,Y pattern early on USD/CAD, Right now it's finishing off the (b) correction on the (X) wave. Im hoping for it to retrace to the .618 as I find the X wave to commonly retraces to that spot. After the X wave is complete, I'm hoping for the Y wave to finish up on the major trend line holding as support starting from September 2017. The Y wave...
The market is testing the 0.618RET of previous drop in the weekly chart. Meanwhile the neckline of previous top also works at this zone. So it is good to sell at 115.5 levels when price action gives the signal in the PRZ. SL:above 117.4 TP1:110 TP2:105 and further more If the market break out this level,121 level will be seen in the future.
I was able to spot a few key rules for why this might play out the way it shows. Starting from the high on March 2018 we can begin to line up our WXY pattern. Within that WXY Corrective waves, you can find the ABC correctives. I'll leave you to interpret how you see those but I left them out to make the chart look cleaner. - If you look at Fibonacci drawn from...
Fairly simple setup. Fully reversed bullish trend breaking past former higher lows. Pullback to 61.8% in alignment with psychological number 79.00. I suspect this correction is over and the 61.8% fib a valid level to take our shorts. Tp1 @ 76.80 Tp2@ monthly support in alignment with -0.61% fib extension at 76.00. Lets go.