618 Fibonacci Retracement
AUDUSD LONG- 61.8% fib retracement
- 3rd bounce off ascending trendline
- Lots of upward momentum
see chart for R:R and SL and TP placement.
XAUUSD - SHORTTechnical analysis only:
Pitchfork top rejection, overbought stochastics, weekly trendlines rejection, downtrend, fibonacci .618 retracement
Risk/Reward: 2.43
Double Top & 2618 on GBPJPYHey guys,
this is a pair i've been looking at for the last weeks, and it turned out to be a good setup. Now price managed to break and close below the double top's neckline and that gives and indication of its intention to go lower. As usual, when such cases happen i look for a 618 retracement and sell at market, in according with the 2618 strategy. Stops would go above the tops, target 1 at the retest of the lows, target 2 to be determined.
If you want to share your view or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Gold Short - 618 retracement from Double Top (2618) -Daily chartThis pair has been bullish up until we made a new structure high and failed to break it on a second test, forming a double top . Price then was able to break the previous low confirming the buyers are running low on energy. A retest and break of the new low would confirm a change in direction. Entering short on a clear rejection of the fibb 618 retracement with 1st targets at the neckline.
EUR/CAD Reversal SetupPossible set up in EUR/CAD for reversal. It has been bouncing off this trend line, The 161.8 extension lines up close to the trend line. Take profits early. I will not enter this trade until it hits the 61.6 retracement. We shall see what happens
AU 2618 tradethe chart basically says it all.
watch lower time frame for confirmation of rejection from price level 0.793 or from the 0.618 retracement level
USDJPY NICE LONG OPORTUNITY *.618 LEVEL TOUCHED
*FAILED TO GO LOWER
*PRICE ACTION GOOD FOR LONG POSITIONS
Bearish Bat on 4H Aussie/ Dollar On the Weekly Chart, the pair almost seems to be making a Bear Pennant and has been in a significant downward trend. at the moment there is a Bearish Bat pattern! typically one might want to place stops above the pattern's entirety, but I like Risk/ Reward to be at least 1 risk/ 2 reward. There are 4 TP's each at signiciant Fib. Retrace levels of the AD leg. (Supposed to be CD But I like larger profits) :)
THIS IS NOT A SIGNAL!
eurnzd short 2618the market has been trending down for a while on 4 hr time frame....recently has been in a nice descending channel on 1 hr....previous double top (yellow bubble) (notice rsi downward divergence and upward movement on chart inside of yellow bubble) looking for shorting opportunity around 1.514142 (61.8) looking for possible evening star pattern or engulfing pattern or lower low lower close in red box... it may hit the top of the channel (which is in line with the 61.8) and have a nice rejection (most aggressive entry would be right at the 61.8)...... (more confluence if we are oversold around those levels). My Stops will go above 1.54800 tp at 1.53309
USDCHF LongHey guys,
i'm trying to be the more short i can since this is happening right now. Double bottom with break of structure down on lower timeframes in a nice structure level. Stops below the lows, targets as shown. If you're aggressive you can swith target1 to target2 and let it run.
If you have questions or ideas, share below.
Otherwise, see you in the next chart!
USD looking Very BullishStrong indications of trend reversal.
Convergence on MACD.
ABCD pattern completed.
DXY hits 0.618.
Feedback is always welcome!
bat pattern gbpjpy buy 1 to 1 measured move, 161.8 extension of a to b to a, overall daily fibs at 61.8, all line up with a bat completion.
4 hr divergence drawn with red arrows on chart and rsi
on 1 hr current double bottom forming and even on 15 minute chart another bat formation
the gap closed with the wicks looking left at yellow bubble
I have entered on the 1hr double bottom with stops bellow my wicks however can await a 2618 after it breaks 1 hr neckline of double bottom for more conservative entry
disclaimer: all my setups are for my personal trading purposes you should only use my charts as confluence to your own ideals.....
EURNZDprice in the support area and 61.8 level.
prepare buy setup next week. waiting for break trendline, double bottom or any other reversal pattern will be good strategy to entry.
2618 on EURUSD!Hey guys,
this is a 1hr chart on EURUSD and as you can see price is still in the yellow box that represents a resistance area. I've already shorted this pair two times in the recent past (one with target1, one at breakeven). And it's now creating another short setup, in the form of a double top broken to the downside, this signifies price wants to go lower and a 618 retracement is a good place to sell, according to the 2618 strategy. The background conditions on the daily are still the same. Bat Pattern completed and structure zone.
Let's see how this plays out. Stops above 1,13, target1 at the retest, target2 to be determined.
If you want to share your view or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Another short on EURUSD? 2618 trade!Hey guys,
this is a 1hr chart on EURUSD and as you can see price is still in the yellow box that represents a resistance area. I've already shorted this pair two times in the recent past (one with target1, one at breakeven). And it's now creating another short setup, in the form of a double top broken to the downside, this signifies price wants to go lower and a 618 retracement is a good place to sell, according to the 2618 strategy. The background conditions on the daily are still the same. Bat Pattern completed and structure zone.
Let's see how this plays out. Stops above 1,13, target1 at the retest, target2 to be determined.
If you want to share your view or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Trend Continuation Trade on EURAUDHey guys,
we were looking at this pair few days ago searching for a short setup. Now the background is changed and we see this chart as a trend continuation chance. As you can see price has shown some selling pressure around 1,5050 but not enough pressure to stop the trend from continuing up. The break and close above that level signifies a clear willingess to continue up and i'm willing to buy this in case of some sort of weaknesses at this level, which represents the previous resistance that should become support now.
A double bottom could be a good sign of reversal, stops below the low, and targets with structure.
Let's see how it plays out.
If you want to share your view or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Long setup with the trend on EURAUDHey guys,
we were looking at this pair few days ago searching for a short setup. Now the background is changed and we see this chart as a trend continuation chance. As you can see price has shown some selling pressure around 1,5050 but not enough pressure to stop the trend from continuing up. The break and close above that level signifies a clear willingess to continue up and i'm willing to buy this in case of some sort of weaknesses at this level, which represents the previous resistance that should become support now.
A double bottom could be a good sign of reversal, stops below the low, and targets with structure.
Let's see how it plays out.
If you want to share your view or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
EURCAD potential longthe pair has already pinged off the 61.8 fib already and looking for strong bullish moves for an entry long.
