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886 Fibonacci Retracement

OMGUSD - Surivival Mode Initiated? Longing with caution...Disclaimer: OMGUSD could have made a higher low here but I'm aware OMGBTC is currently at all time lows so this is definitely a punt, I don't give financial advise but if you were to ask my opinion, this is a low risk trade, the chance of this working is slim though. Reward very nice if it does work but my position size is extremely small due to this essentially being a shot in the dark. Analysis: I'm not big into fundamental analysis but generally I believe many of the alts of the 2017 bull run will not survive the current cull we are experiencing. If 2017 was the equivalent of the early 2000s dot-com bubble popping, only a few recover and even less end up making new highs. OMG could easily be a part of this list too but the company is still active and of all the ERC20 tokens, it is one of the top 10 (currently 7th I believe of the ERC20 tokens). Personally I do believe Ethereum will stick around for the long term in this market (it has the most developers by far) so some of it's companion tokens should too. Yes, Ethereum was used and abused heavily for many ICOs, many of which were scams but there are companies still active and still hard at work - doesn't guarantee they will be a success in terms of future prices of course. Moving on the technical side, I've spotted an 0.886 retrace (perfect so far) after a pretty strong move (up over 200%) from early Feb 2019 this year. The only thing we're missing right now is a bounce. If we can hold and turn at this level the sensible first target is a return to the 0.5 fib level. I have plotted some other targets and failure points if this is the start of an Elliot Wave, I've measured where Wave 3 could hit (2 target zones) and the failure zone is if we can't break the top or just get above it (making an ABC equal measured move, downtrend likely to continue). Stop level is pretty close so if this fails I'll be wrong quickly (which is how I like to trade - get out quick if I'm wrong and take a small loss, stay in as long as possible if I'm right to maximise profit potential). Good luck out there!
BITFINEX:OMGUSDLong
by PhilHumphreys
2
Bull Bat on Short Timeframe of U-Cad. This is a pattern out of Scott Carneys Book Harmonic Trading Vol. 1 as the Bullish Bat it is almost text book for his perfect Bat. This is on a smaller time frame, but there is a daily BEAR BAT could form on the daily for a good short term position trade! I have the Pending set at what Scott Carney refers to as one of the more significant retracement levels of the Fib besides the .618 or 1.618 and that is the .886. because this pattern will go along nicely with the trend displayed on the time frame I have my profit at 50% of the XA leg! since the "B" point is at the 50% the alt bat pattern should not come into play! but if it does so happen to then if the .886 fails to rebound the current movement of price... we should see a nice bounce at the 1.13 of the XA leg! so the pending value is 148.503 Stops at 1.27237 Profit at 1.30656
Long
by ARegularGuy
EURAUD: Major Support & Bat PatternThe EURAUD price dropped significantly last few days and it getting close to the major support level at 1.5630. The price respected that level multiple times (green arrows) and it is more likely it will do it again. The sellers are going to lock their profits and buyers are going to step in, which will increase the price up. Moreover, the EURAUD formed a bat pattern, which increases the probability of this trade. The price already touched 88.6 Fibonacci retracement as an entry point to go long. T1 – 38.2% T2 – 61.8%
Long
by Art_of_Trading
AUDJPY Simple sell High R/RThe pair is near the 0.886 fib level of the down move from .8750-.8360. It is also at the top of a corrective channel and the RSI is highly overbought. This a great risk to reward trade. Stops will be above the high. Zoom into lower time frame for a better entry. *Please use your own strategy when making a trade. This is just my personal view and not a recommendation to buy or sell. As always if you need any clarification or help contact me through comments or personal message.
Short
by yutrader07
1