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Confluences

Elastos: 4 very interesting Fibonacci confluences3 Fibonacci grids drawned : 1 : Fibonacci retracement from November high to 15 February swing low 2 : Fibonacci extension from 15 February low to 9 March swing high 3 : Fibonacci extension from 15 February low to 3 April swing high Confluences provides 4 very interesting resistance / support levels (if confirmed) to watch for ((x) indicates above drawned Fibonacci grids): A : Confluence between (2) 1.618 and (3) 0 / 9 March swing high at ~4.55 USD B : Confluence between (1) 0.382 and (3) 0.236 levels at ~5.2 USD C : Confluence between (1) 0.5 and (3) 0.618 levels at ~6.2 USD D : Confluence between (1) 0.618, (2) 4.236 and (3) 1.0 levels at ~7.25 USD Interesting to follow, whether the above confluences will be respected in an upturn.
by MrCarstenF
CHFJPY (H4): Retracement (Long) Likely to HappenCHFJPY Timeframe: H4 Direction: Long Confluences for Trade: - Strong Bullish Engulfing Candle - Break of Trendline in H4 (Established since Sept 2018) - Hovering around 50% Fibo levels of previous uptrend move - Narrowing gap between 8EMA and 50EMA - SL Levels is placed below the M/T Trendline (since May 2018) and 61% Fibo levels of previous uptrend move However Stochastic is showing H4 is around Overbought conditions, you may want to consider to wait till the Stochastics re-balances itself before entering the trade. Suggested Trade: Entry @ Anywhere around Area of Interest (113.00 - 113.80) SL: 112.17 TP: 115.95 RR: Approximately 2.21 (Depending on Entry Levels) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Long
by weekendanalyst
AUD/USD Breaks back above 0.7400AUD/USD:- After a choppy week of price action last week, Friday's candlestick closure confirmed a strong bullish hammer , after rejecting major support levels, and broke back above the 0.7400 level. This was critical for the pair as this now provide us with a valid trend direction and trade set up. With multiple confluences aligning, I still favour a run back to the resistance level of 0.7550 and beyond to the weekly level of resistance 0.75750. Higher time frame analysis suggests there is a high demand region below the 0.7400 area , with multiple wick rejections showing weakness and a slow down in market momentum, it proves that there is a significant buying pressure building . If you were to combine the price action, with our moving averages crossing over, this is helping us filter out the overall market direction and therefore we should only be looking to trade in that particular alignment. ©Everythingfx
Long
by QW-Trading
DCR/BTC (DCR token) Awe Inspiring Price Symmetry-Top Soon!DCR/BTC (Decred token) Daily bars, semi log scale, candlestick wicks removed. 5/21/18, 6:00 PM EST, by Michael Mansfield.  BOTTOM LINE: Decred is approaching the confluence of numerous strong resistance lines and measured price move-price equality projections-for our first price target area. This looks like like Wave V of (III) or possibly Wave C high. See below for details. WHAT IS THE DECRED TOKEN: Decred (DCR) is an open-source blockchain based on an innovative consensus voting model that offers autonomy, scalability, modular code so its easily modified, and self-ruled where the Stakeholders make the rules. AWESOME SYMMETRY: Notice awe inspiring price symmetry of the past price swings lengths to subsequent price moves lengths, both up and down. Take the time to really study this chart! PRICE TARGETS ARE: 0.001449, 0.0016650 and 0.001759 Price Target 1 = 0.001449: The current price swing labeled Wave 3 or C (no real preference yet) looks like it may top in line with multiple resistance points that also happen to be at two of the price levels suggested by a measure move from two vertical arrows that were cloned from the prior price waves then added March 29th low. The first price target is also 1.3146 x “Wave A or Wave 1” up from the December low, then added to Wave B (or Wave 2) low in late March, 2018. How cool is that? Very cool! Target 1 is also a Gann Fan 8:1 line (black dashed line) which tends to be super strong. If DCR breaks this resistance price, there is likely a much larger cycle still heading up that we cannot yet measure. And, that likely means this is a Impulse Wave 3. Price target 2 = 0.0016650, is 1.618 x Wave A or Wave 1. Price target 3 = 0.001759, is based on largest vertical arrow cloned from the prior price moves (same distance repeats) then added March 29th low. CYCLES: Two cycles are in the topping process between now and May 30th. Blue cycle is major cycle and in phase thus far. It is in a topping phase, but as a longer-term cycle, it has a wider window for the market crest, which, should be between today, Monday, 05/21th to 05/29th next Wednesday. It’s Red cycle was in phase until Nov. low, but has been out of phase with Drecred since then. Dominant cycles almost always win, but we should add that the red cycle (been out of phase) does top latter than the others, on June 19th, but that is not a strong consideration at this time. Green cycle is in phase and peaks between 05/26th to 05/28th, with the center date of May 27th. Since markets can top early (Left Translation) or late (Right Translation), it is possible that today was a top. The market did hit the 75% Andrews Pitchfork resistance line, and during the day the high almost hit the GANN Fan 8:1 super resistance line, which, is also a measured move point, as shown by the shorter green vertical arrow off the March 30th low. SUMMARY: Look for a top between today and May 30th, giving it an extra day. Use short-term intra-day charts to find a tight exit point and perhaps a lower swing high to put on a light short trade once this degree of top has been confirmed. TRADER TIPS: Look for repeating price swing lengths then add or subtract those measurements from major swing highs and lows for addition confidence of price targets. Especially when they line up with Gann, Andrews or Schiff lines. DISCLOSURE:   This analysis is meant for educational purposes only. You trade at your own risk!   Cheers and best wishes,  Michael Mansfield CIO  
by UnknownUnicorn1613901
3
AUDCAD - IHS Reversal, now pausing at Fib on route to TargetAUDCAD bottomed out with an inverse head and shoulders reversal which was confirmed with a break through the neckline at 0.97054. The pattern targets 0.985 which currently aligns with the 200 DMA which is a useful reference for aligning longer term directional bias. Currently we can see price is undergoing a natural pause around the 38.2% Fib. retracement level of the Mar-May surge in CAD strength as well as support turned resistance off the corrective dip mid Feb 18. Short term target is the 50% Fib level at 0.99 which is frankly close enough to 1.00 for this to be a sensible target zone, expect a few candle wicks penetrating and failing at this level before we see the next wave of momentum
Long
by TJP_Trader