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NZDUSD Long ComingNZDUSD is forming a corrective pullback within a descending channel aka bull flag. On the fundamental side, New Zealand had their Monetary policy meeting last week which was concluded with no cut in rates and no sign of future cuts on the horizon for the time being which the market took as a hawkish hold. This boosted the Kiwi and after this corrective move it looks set to push higher in the near term. I'm looking for price to continue holding above support and breakout to the upside within the coming week. Great risk to reward. I am not a financial advisor. This is not financial advice. This is for educational purposes only.
Long
by csohrab
AUDNZD Short ComingAUDNZD is currently forming a corrective pullback within an ascending channel aka bear flag. Look for price to do one of two things; either 1. push up one more time into resistance for a clean short entry or 2. impulsively breakout out of the channel and head toward the -27% Fibonacci extension. You can also see a head and shoulders pattern with price currently forming the right shoulder. This is a great set up heading into next week & a good risk to reward. I will state that is a short term trade, and once price reaches the 1.03700-1.03500 area we will analyze how price reacts at support. I am not a financial advisor. This is not financial advice. This is for educational purposes only.
Short
by csohrab
XRP RUSHING WATERS - EYEING THE MARKET Sorry for the busy chart, taking multiple views of current price action. I am a swing trade/investor looking for maximum potential in 12-18mo hold times. I am already in XRP & built most of my position end between .20 & .30. Speculation could easily give way to adoption in future bull cycles. I invest with an open mind and seek truth within the trend. NOT INVESTMENT ADVICE . Taking a look at the daily chart. We see a breakout of upward trend. LOTS of buying volume. 1.618 & 2.618 Fibs line up exactly with major support/resistance. Also, the 50 day moving average is making an aggressive cross above the 100. With sustained momentum 200 will be met quickly. Near resistance lies above around 0.365 (1.618) followed by 0.475 (2.618) Support lies beneath around 0.295 Intra day timeframes showing bullish momentum in Stochastic RSI & Moving Averages. The 15 Cent XRP Prophetic Gospel may have been fulfilled with the Bitmexico dump. Something to ponder.... trading and wisdom go hand in hand whatever you do control your greed and refuse to get caught slippin'
COINBASE:XRPUSD
by MitchMilli
Use 1.9 Extension To Find Wave 5 Target During BTC Bull MarketLooking at the Elliot Impulses from the 2017 bull market start using 1.9 worked well to find the 5th wave extension target once wave 4 was identified. This is different from the usual target of around 1.25 to 1.618 max in a regular choppy market. 1.8 to 2.0 is a good region but it seems like 1.9 is a decent average. Things are starting to gets a little crazy and if you feel the need to short (bad idea right now IMO) then at least wait for a much higher target because during crypto bull phases the 5th wave is almost always an extended 5th and this is what causes bears to get rekt over and over since they can't get out of the usual 1.618 mentality.
BITSTAMP:BTCUSDEducation
by mljones
2
SPY finishing Wave 3 at $365 then correcting to $250 for wave 4?Looking at the SPY, I have tried to identify wave patterns. My current view is that we are finishing up wave 3 near the 2.618% extension of wave 1 at around ~$365 Wave 3 looks to be extended with 5 sub divided waves which also contains an extended sub third wave. Wave 4 corrective target is set to $250 at the 23.6% retracement of wave 3. This would have the wave 4 end within the span of the previous 4th wave of one lesser degree. Using the Fibonacci extension tool to try and find a wave 5 target of the extended third wave I find that taking the extension tool from start of wave 1 to end of wave 3 and pulled to end of wave 4 gives the 61.8% extnesion target at ~$372 start of wave 1 to end of wave 1 and pulled to end of wave 4 gives a 2.618% extension of wave 1 for wave 5 at tartget ~$368
AMEX:SPY
by KondrackiKarl
1
The Power of the 1.27 Fibonacci ExtensionA solid currency trading strategy consists of entering a trade at the right place, having a stop that is properly calculated, and setting a reasonable profit target level that works time after time after time. Many newer traders set too ambitious profit targets expecting the trade to be "the big one" and hoping it will help offset the losses they have accumulated. However, a far more effective currency trading strategy is to set a reasonable profit target each time, not expecting the home run, and being satisfied with smaller profits which on a consistent basis will build the equity in the account surprisingly quickly once the compounding action kicks in. Here is where the Fibonacci tool comes in. This article assumes a trader knows how to use the Fibonacci tool which comes as a standard technical analysis tool on most charting software packages. While the key retracement levels are 38, 50, 62 and 70 percent, two extension levels are commonly used - 1.27 and 1.62 percent. The Importance Of Fib 127 It is the 1.27 level we are interested in. Why? Because price regularly gets to the 1.27 level, or at least within a few pips of it. Price also gets to the 1.62 level fairly often but not nearly as often as the 1.27 level. So if you are trading with the trend, always a safe currency trading strategy, and price has pulled back to the 50 or 62 retracement levels, there is a very reasonable chance price will reach the 1.27 target. If price pulls back to the 79 retracement level it may not go so far. If you trade from that retracement, you will want to take the first profit at the end of the swing as price may not extend beyond that point to the 1.27 or 1.62 level. Some traders just focus on this currency trading strategy when going with the trend: In at the Fib 50 retracement Out at the Fib 127 extension How To Use Fib 127 Here are some other factors to consider when using the Fib 127 extension: Look to see if this level coincides with other factors such as A previous key level of support or resistance on the higher time frames such as 1 hour, 4 hour, daily, or even weekly. The 200 EMA ( Exponential Moving Average ) on the 1 hour or 4 hour. This often provides quite a strong level of support and resistance . A pivot point (Central Pivot Point , R1, R2, S1, S2, or M1-4 levels ) calculated from the previous day's High, Low and Close. Even when targeting the Fib 127 as the profit taking point, it is wise to trim a couple of pips of the limit order. So often price will nearly reach Fib 127 and pull back. Yes it might go on to touch it later but in the meantime price retraces and you have to have the mental stamina to be able to handle that. Many traders would rather just take a slightly smaller profit and save themselves one or two hours of price consolidation with the risk they may lose the profit altogether. A solid currency trading strategy develops over time. A key ingredient is not being too ambitious. The Fib 127 extension level is a reasonable profit target you can use regularly to extract your wages from the Forex market! Jan 01 Comment: Any opinions, news, research, analysis, prices, trade discussions, or other information contained on this website are educational in nature and merely provided as a presentation of trading strategies. Commentaries made on this website reflect our own opinions and trading techniques and do not constitute investment advice. All information and material is for educational and entertainment purposes only and is not intended to provide financial advice. I'm not a registered investment advisor.
by TayFx
3
Learn to appreciate fibonacci extension (Example)A solid currency trading strategy consists of entering a trade at the right place, having a stop that is properly calculated, and setting a reasonable profit target level that works time after time after time. Many newer traders set too ambitious profit targets expecting the trade to be "the big one" and hoping it will help offset the losses they have accumulated. However, a far more effective currency trading strategy is to set a reasonable profit target each time, not expecting the home run, and being satisfied with smaller profits which on a consistent basis will build the equity in the account surprisingly quickly once the compounding action kicks in. Here is where the Fibonacci tool comes in. This article assumes a trader knows how to use the Fibonacci tool which comes as a standard technical analysis tool on most charting software packages. While the key retracement levels are 38, 50, 62 and 70 percent, two extension levels are commonly used - 1.27 and 1.62 percent.
by UnknownUnicorn3442968
4
AUDUSD Next Leg UpAUDUSD has been creating a bull flag for the past several days. Price has been supported by the 23.6% of the entire move which is also confluent with 50%. Price bounced from this strong support level and now we expect continuation to the upside possibly as high as round psychological number 0.70 which is confluent with the 61.8% and the -27% extension of the entire move. This confluence of technicals gives us confidence that a move up is on the horizon. From the fundamental side we know that the RBA is not planning on cutting interest rates for the remainder of 2019 which should also support the Aussie. From the sentiment side, progress in US China trade talks should also have a positive impact on the Aussie dollar. This is for educational purposes only. This is in no way intended to be financial advice. I am not a financial advisor.
Long
by csohrab
ORBEX: Trump Comment Reduces Haven Flows, Brexit Extended Again!In today’s #marketinsightsi video recording, I talk about the rise of optimism around US-Sino trade and how it could impact #USDJPY until the two leaders meet next month. On top of the latest #Trump related flows, the pair will be affected perhaps positively from this week's #FOMC meeting as markets are expecting the Fed to cut interest rates again! I also picked #EURUSD on the back of yet another #Article50 extension and as #pound seemed a little "out-of-touch" with the latest developments surrounding #Brexit. Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
by Orbex