I've taken two positions on FOREXCOM:AUDNZD this week. First a bearish 60m breakout that I captured a little bit of profit but the remainder stopped out. That stop out revealed some fascinating price action at a potential Daily Support level. I really like studying price action such as this and put my thoughts into a video to share!
As I keep mentioning the best Fibonacci level I've found is the simple 50% halfway point. BITFINEX:LTCUSD has demonstrated this beautifully as each impulse wave over the last many days has pulled back to hold its 50% level and continued upward.
The beauty of studying price action is that a trader can apply their skills to ANY instrument, timeframe, and market. Just as the 50% retracement works in cryptocurrency it of course works in stocks. This happens to be a trade that I was able to catch. It took more than a day to trigger when NYSE:LLY pulled back to the 50% retracement for a 4th time. A very...
Most all traders have brushed up on their Fibonacci levels. Some like the 61.8% retracement for entries. Others like to use them all and clutter their charts with lines every 0.5 points. I like to keep it SIMPLE and admire the beauty when price just respects the halfway point of the 50% retracement. I noted this in another post a few days ago about ...
NASDAQ:TSLA had some beautiful price action worth noting today. It held the 50% retracement level of the day's gap. What was even more interesting was the lower timeframe price action on the 1minute (see screenshot). After holding the 50% retracement on the medium term timeframe it also held the 50% retracement of the move off the support as a fractal of the...
*Not trading advice, entertainment purposes only, DYOR Reasons for a trade: 1.) Putting in market structure at or below 78.6, off fibs from 3 most recent highs. 2.) Has W and working on confirmation of larger W 3.) Moving Average Convergence 4.) Put in market structure after break of 2 significant downward sloping trendlines 5.) Divergence in MACD 6.) Market...
The prior ATH was the key deciding line a few weeks ago. When the AMEX:SPY closed below it it signaled the drop. Now with the low it formed on 9/24 in combination with the recent ATH it has created a 50% Retracement of the down move. Ya'll know how much I love my 50%... This is clearly the consistent and current dividing line between bullish and bearish...
BLCM might be putting in a bottom here at the VWAP from March low and the 50% retracement level of move off March low. Worth keeping on your radar.
-Throughout August buyers have been stepping in at a confluence of support: 1) $21.5 level which I view as historically significant (having been tested multiple times from above and below), most notably acting as resistance during the last consolidation period 2) The VWAP from the all time low 3) Back test of the downtrend line 4) 50% retracement of move from all...
RCUS has reacted higher after bouncing from a confluence of support: 1) 200 EMA 2) 50% retracement 3) VWAP from all time low *You can see how the 200 EMA and VWAP from all time low previously acted as the floor back in March -Now supported strongly by 50 EMA, RCUS closed above the 50 EMA every day this week, and 7 of the last 8 days, with the exception appearing...
Drreddy formed Head and Shoulders in daily chart and previosly had pennant and flag on small time frame... Three bullish pattern on one chart with retracement of 50%... Wow...Must be a jackpot trade. 4280-4300 zone has weekly resistance so it may take time to breach.... Targets on chart.
Hello analysts and traders - Looking at the FTSE100 - it is time to sell? We think yes - we have monitored this on private charts but now it is time show a public view and to close some longs and begin to hedge and close out final longs. Have you noticed a pattern? All indexes have had Vshaped recoveries - however is it sustainable? Nope. With a lot of the...
IF We see good bounce from here some things I'm seeing are: $ Bullish divergences: 4, 6, 12 and Daily Time Frame (Need to reverse though to confirm the upswing on RSI) $ Descending broadening bottom pattern $ Hit the 50% retrace for overall 6440-10400 FIB on log $ 1 HR cooked at 8-10 very historic low
posted my thoughts yesterday on the link I shared below weve hit our 50% fib retracement from bottom I like an entry here but its not a home run we could take right off from this level or continue sideways or further down love the .618 fib entry on eth or btc The old resistance would be the .618 fib support. resistance become support... just gotta be reactive...
Reason to Short 1) SP500 = short-term downtrend 2) 50% retracement of downswing 3) AB = CD Stay tuned !
Previous resistance level and 50% retracement in the same zone. Market might turn again?!
Wave 5 might start in the next days. Wait for a bullish formation and take your chance.