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618 Fibonacci Retracement

EURCAD 4hr bullish butterfly and 0.618 combination longEURCAD is the typical butterfly pattern that I'll be interested in. Most of the time, a butterfly pattern may mean a new low has taken place, which may be contradict with the current trend. While, if it can hit the previous 0.618 or structure at the entry of the butterfly, that makes it a much better trade! Here we got this 1.4925 spot to wait for reversal sign to long, before it gets there I'll be bearish. If it gets there and gives an hourly reversal sign, I'll be taking that long! Let's see how it goes yo!
Long
by Trader_Joe_Lee
XTZUSDT Macro Levels| Declining Volume|.618 Fibonacci ResistanceEvening Traders, Today’s Technical Analysis – XTZUSDT – a break out is imminent as volume continues to decline; key structural levels are likely to be tested. Points to consider, - Trend bullish (consecutive higher lows) - Trend line support holding true - Current resistance .618 Fibonacci - RSI above 50 - Stochastics projecting down - Declining volume XTZUSDT’s trend has been putting in consecutive higher lows, now trading in a range between two important levels, monthly resistance and daily support. The current trend line support is holding true, a higher low projection will be at play until the trend line has been breached. Immediate resistance, the .618 Fibonacci is to be breached for a test of monthly resistance; price has been rejected multiple times. The RSI breaking below 50 will negate any bullish bias in the market. The stochastics are projecting down, this a sign of momentum shifting. XTZUSDT’s volume is clearly declining, an indication of an influx in volume being imminent as key structural levels get tested. Overall, in my opinion, XTZUSDT is approaching a key technical level where a break will be imminent. A long trade will be valid above monthly resistance. Breaking below daily support will validate a short trade. The break needs to be backed with increasing volume; this will help avoid fake outs. What are your thoughts? Please leave a like and comment, And remember, “This lack of support is not simply an absence of encouragement. It can be as deep as the outright denial of some particular way in which we want to express ourselves.” ― Mark Douglas
by AzizKhanZamani
AUDUSD short, elliot wave analysis, double topFX:AUDUSD AUDUSD has done the impulse wave and finished the 5th wave at around 0.6550. Made it a top and traded in the range for two weeks. And it now made a double top this last trading week which shows weakness of the trend. We can expect a correction until it reach the 618 fib retracement which is pretty significant level. You can like and comment of my analysis, and i am open for conversation and suggestions. Thanks everyone have a nice trading week.
Short
by Jimbololoy
4
Where will bitcoin go nextIt looks like BITSTAMP:BTCUSD was once again rejected by its descending weekly trendline currently sitting just below the 50% level of the move down since June 2019. The Daily and 4 hour charts topped on or near a sequential 9 and bitcoins` correlation with the stock markets in recent weeks indicate a move down might be likely. I expect if we close the weekly below the orange 55 SMA we will see a drop back down to either the red or green rectangles which are prior support lining up with the 0.382 and 0.618 retrace of the move up. Since the green area also has the 200 SMA moving towards and bitcoin loves the 0.618 fib level and has started the last 3 rallies from the 200 weekly simple I think this is the most likely target for a higher low.
BITSTAMP:BTCUSDShort
by kaaiii
11
BIG levels of resistance for SPY SPY approaching .618 of the drop. this is called the golden ratio because it's of the strongest numbers of the Fibonacci sequence. so I'm expecting resistance @ this level . also orange lines are the completion of an ABCD pattern from our first relief rally this is a bearish sell signal as well. all this while in a falling wedge :thinking: if this poses a threat to Powell pumping at all I can see a retrace to 260-264 range then we buy the dip and spy to 420 $spy
AMEX:SPYShort
by duramax_trading
9
AUDUSD LongFor de AUDUSD we can espect some good long moves. On AUDUSD 4H tf we can see that the price broke a strong downtrend and it's making a reverse move to complete de retest on that trend for possible long move. We can see also that this break and retest beats a good Supp/Resist lvl that helps to identify the possible retest position. We can see also that this break and retest marks the place of 0.618FIB line and another confirmation to help seeing the price going LONG. Best Regards José Pêssego
Long
by PessegoRatzinga
GBPUSD - Divergence + 61.8% Retracement + Resistance Hi Traders! As you can see the market is in an uptrend. The market was moving downwards in the past days, after that it started to retrace. If you use the Fibonacci Retracement Tool, you will see that the market is now at the important 61.8% Level. This is a strong signal for many traders that the market will continue its previous (down-)trend. In addition, the MACD Indicator shows as a clear bearish Divergence. It often means that there is hidden bearish power in an uptrend. Furthermore, you can see a parallel channel in the chart. We will use that for our secound entry: If the market breaks the channel downwards, then there is strong momentum to the down side. Last but not least: The Resistance is a strong factor too. Our SL is above this Resistance area. For a better entry we recommend to trade the (downside-) breakout of the channel! Thanks and good luck :)!
Short
by swissmoneymakers