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618 Fibonacci Retracement

NEW TRADE IDEA GBPUSD Primary Trade Setup In case the pair goes back up to 61% the risk of taking a purchase is very low. In case the price closes below 61%, looking for a purchase is still possible but we must be careful since we would be entering the field of the last highs and that can also mean a change of structure, so it is better to divide the trade and take partial profits and protect operations. if you have the possibility to do it. I hope this is a flag correction. Secondary trade Setup If the price decides to lower enough, it is necessary to wait for a retest in the area below the last stops before looking for a sale. However a break and retest would indicate a very powerful structure break. Note: in a past image I sent a sale in a higher area, the price did not reach the area, however if this trade is successful this is a very, very good area to find a sale, in my opinion.
Long
by Norella_Chavez
USDCHF 0.618 retracement and a bullish butterfly right hereFirst of all, no intention to chase the slump as it's 2 bullish combination right now right here. While still, it broke the structure for the week , so pretty much we got some contradiction between these views. When it comes to contradiction among different tools, choosing to stay flat is always a good idea. But if I have to choose one side, I'll still pay more attention to this long-waited spot to long. The plan is to wait for hourly reversal sign as a confirmation entry, if there isn't any reversal sign and broke 0.9950, then this trade will be cancelled. Let's see how it goes! (There is also an exactly same set-up for CVS today in my related ideas yo)
Long
by Trader_Joe_Lee
2
NZDUSD Forecast: Potential Head and Shoulders Formation With this pair we have recently seen a failure to create a higher high past 0.6970, followed by a daily chart tweezer top rejection of weekly resistance 0.6900. Consequently this pair has seen a massive sell-off back down into monthly support in and around 0.6700. We are now finally starting to see a slow-down of momentum for a potential correction back into the 0.6850 region at our favored fibonacci levels in alignment with a potential right shoulder. A rejection of this level could lead us swiftly back down into our neckline/monthly support. A break of this neckline for a swift sell-off into our fibonacci extension target 0.6585 which is in nice alignment with our previous higher low. Trade safely! Cheers.
by aidanhunt33