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886 Fibonacci Retracement

Litecoin: Falling Wedge Break Hook and Go at an 88.6% RetraceLTCUSD has been sitting at a 88.6% Retrace for the last few weeks nowholding above both it and above a falling Wedge that it's developed on the weekly timeframe. If it can bounce back up from here i think it will have 3 profit targets: $420, $515, and Finally $645 as that would align with the 100%, 127.2% and 161.8% Fib Extension targets. My targets for this chart are a result of some other Bullish Variables on Various Other Charts i looked at where LTC is either the numerator or denominator, I have included some of these charts in the Related Ideas Tab below and based off all of these Aligned Variables across many different charts I'v come to the conclusion that i could be expecting alot out of the LTC Price Action in the Near Future.
COINBASE:LTCUSDLong
by RizeSenpai
1
LINKUSDT Short updatedI'm updating my chart adding one more Fibonacci retracement target. As we can see the price has been rejected from 78.6%. From the last post: Why 14.6% (.146) and 88.6% (.886) are important levels on Fibonacci retracement? The 14.6 Fibonacci ratio, wich has a high mean of assertivity, is mirroned by 88.6, which has become an important entry level and stop loss in the market. 88.6 = 1 - X, X = 14.6. These are hidden levels on the standard scale. But you can add them manually. As you can see on chart, my fave way to use the Fibonacci Retracement is setting the .50 level at the pivot point** that precedes a pullback, i.e. the lowest low of the first downtrend. The price generally tends to retrace at least to the 0.707* level, which is another hidden level. The most common case in the crypto market, according to my experiences, is the price going into the zone between 0.886 and 0.786. In many cases touching 88.6, which can be considered a conservative point for a stop loss. If the price does not retrace from this zone, then a potential trend reversal can be considered. I have considered the range between 88.6 and 78.6 to be a 'short zone', that is, a zone where I usually wait for a reversive price action, or you could say a potential reversal zone. When price follows the trend after retracing then I consider 14.6% as my potential target. Means that tendence continues. This complete zig zag movement is what we call a swing, upward or downward. *0.707 (70.7%) is the square root of 0.5 Fibonacci ratio, wich is a ratio between 1 and 2. **Pivot points (some call them "swing points") are those areas where important short term reversals take place. Okay, let's see what happens during this trade. Thanks for your attention.
Short
by firmestudio
BTCUSDT one more leg down nowPrice action has been rejected from 88.6% - 78.6% range, 15M overbought. Ttarget at 14.6% of Fibonacci retracement (28.7k). Why 14.6% (.146) and 88.6% (.886) are important levels on Fibonacci retracement? The 14.6 Fibonacci ratio, wich has a high mean of assertivity, is mirroned by 88.6, which has become an important entry level and stop loss in the market. 88.6 = 1 - X, X = 14.6. These are hidden levels on the standard scale. But you can add them manually. As you can see on chart, my fave way to use the Fibonacci Retracement is setting the .50 level at the pivot point** that precedes a pullback, i.e. the lowest low of the first downtrend. The price generally tends to retrace at least to the 0.707* level, which is another hidden level. The most common case in the crypto market, according to my experiences, is the price going into the zone between 0.886 and 0.786. In many cases touching 88.6, which can be considered a conservative point for a stop loss. If the price does not retrace from this zone, then a potential trend reversal can be considered. I have considered the range between 88.6 and 78.6 to be a 'short zone', that is, a zone where I usually wait for a reversive price action, or you could say a potential reversal zone. When price follows the trend after retracing then I consider 14.6% as my potential target. Means that tendence continues. This complete zig zag movement is what we call a swing, upward or downward. *0.707 (70.7%) is the square root of 0.5 Fibonacci ratio, wich is a ratio between 1 and 2. **Pivot points (some call them "swing points") are those areas where important short term reversals take place. Okay, let's see what happens during this trade. Thanks for your attention.
Short
by firmestudio
LINKUSDT The Importance of 0.886 and 0.146 Fibonacci RatiosWhy 14.6% (.146) and 88.6% (.886) are important levels on Fibonacci retracement? The 14.6 Fibonacci ratio, wich has a high mean of assertivity, is mirroned by 88.6, which has become an important entry level and stop loss in the market. 88.6 = 1 - X, X = 14.6. These are hidden levels on the standard scale. But you can add them manually. As you can see on chart, my fave way to use the Fibonacci Retracement is setting the .50 level at the pivot point** that precedes a pullback, i.e. the lowest low of the first downtrend. The price generally tends to retrace at least to the 0.707* level, which is another hidden level. The most common case in the crypto market, according to my experiences, is the price going into the zone between 0.886 and 0.786. In many cases touching 88.6, which can be considered a conservative point for a stop loss. If the price does not retrace from this zone, then a potential trend reversal can be considered. I have considered the range between 88.6 and 78.6 to be a 'short zone', that is, a zone where I usually wait for a reversive price action, or you could say a potential reversal zone. When price follows the trend after retracing then I consider 14.6% as my potential target. Means that tendence continues. This complete zig zag movement is what we call a swing, upward or downward. *0.707 (70.7%) is the square root of 0.5 Fibonacci ratio, wich is a ratio between 1 and 2. **Pivot points (some call them "swing points") are those areas where important short term reversals take place. Okay, let's see what happens during this trade. Thanks for your attention.
Education
by firmestudio
1
🐂US100 MAJOR SETUP‼ MUST SEEUS100/Nasdaq has been very bearish, and it quite likely could continue to do so. I have spotted a deeper retracement and have also managed to spot out the end of an Elliot wave sequence, highlighting a reversal. Price has also given us a third touch on the supporting trendline and we could expect a more dramatic reaction in a longer term perspective. Price finding support and reversing in these areas could also form a double bottom, which is a bullish reversal pattern. We should wait for bullish structure to start forming on the 4H first then long. Price may retrace of reverse Make sure you follow to stay updated👍 CURRENCYCOM:US100
ULong
by WAR_ON_FOREX
Notable Pause in Price Action At an 88.6% RetraceThere is not much of a pattern here we are basically trading at all time lows but we are at a point where it can only literally lose all of it's value if it goes lower and a stop loss while fairly wide can be easily applied and justified when thinking of the potential reward. I believe that if it holds these lows that it will retrace back up to the 88.6% retrace from high to low and the return on such a trade would greatly outweigh the wide potential risks so long as one is prepared to potentially lose 42% of what they decide to put down on this trade here in anticipation of a potential gain that could be in the thousands of percentage points.
FTX:OXYUSDLong
by RizeSenpai
is OB = 0.886 fib (OBSERVATION)Is 0.886 fib an OB level or are we just speculating? well in short idk😉 you find out on your own, i have been back testing this thing for the past few weeks and almost in all cases im seeing some correlation between the two, but why? well idk😂 its basic math at this point i mean order blocks are areas where price made some form of lows or highs, so at those areas if price revisits there might be an opportunity for good reaction those areas are almost in all cases at the 80% of the move up. Why do i think 0.886 is better than OB? OB is dynamic, you don't clearly understand which OB to use 15m 30m etc.... why not 25min (this is something i had in mind when i first learned about OB). While in the case of fib its an exact level, we expect price to move at a specific value instead of a dynamic area. is 0.886 something you made up? www.youtube.com Keep in mind this is just an observation so DYOR and backtest before you come to a conclusion.
BYBIT:BTCUSD.P
by phenodev
8