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Extensionfibonacci

GBP AUD short to complete extension, then buy.Hello analysts and traders. Important updates - we have been holding a short and enjoying the wave ride down to the demand extension zone. The market works in waves - it is incredible. However - we are experiencing at this moment a really nice Fibonacci retracement on the GBP AUD - where AUD is in control more than the GBP despite strong buying net position changes. COT data: Pay attention to the Long positions added back in June. Aussie cot Data - Date Long Short Total %Long%Short Net Change 14/07/20 45,543 41,293 86,836 52% 48% 4,250 4,944 07/07/20 44,740 45,434 90,174 50% 50% -694 2,214 30/06/20 40,025 42,933 82,958 48% 52% -2,908 1,902 23/06/20 35,974 40,784 76,758 47% 53% -4,810 1,722 16/06/20 31,685 38,217 69,902 45% 55% -6,532 30,043 09/06/20 29,912 66,487 96,399 31% 69% -36,575 4,216 GBP COT 14/07/2020 43,175 56,761 99,936 43% 57% -13,586 2,822 07/07/2020 39,892 56,300 96,192 41% 59% -16,408 4,582 30/06/2020 34,424 55,414 89,838 38% 62% -20,990 -2,474 23/06/2020 29,654 48,170 77,824 38% 62% -18,516 -2,518 16/06/2020 29,378 45,376 74,754 39% 61% -15,998 8,050 09/06/2020 28,893 52,941 81,834 35% 65% -24,048 11,996 Technicals: What can we see technically? - Daily bearish but breaking momentum short in the channel. - weekly bearish - monthly also bearish - with a nice - bounce from the demand zone zone. - we can see the trend beginning to add long positions to correct - this has now occurred. - we have made lower lows and lower highs- showing the correction - now in a consolidation zone with some great wicks formed and a reversal to the upside - this has been boosted by GBP Tuesday as of writing. -AUD USD ranging market looking to break 0.715+ for upside strength. -Large downside gap to fall to if price looks to create a new low structure in bearish confluence and momentum trading. - COT report in favour of AUD however, risk off will shift sentiment to immediate bias. Fundamentals Aussie is a commodity currency so is highly affected with exports of natural resources, Gold , Oil , Grains, Copper etc. Victoria lockdown has caused issues for the restart of the border openings USD outlook affects the progress of strength for Australia. Coronavirus within the US sees an affect on the economy for the US as a result affects directly Australia where the index correlates. USD sees 1Trillion package for stimulus package. Note: Trading is about timing. so even if our stop loss gets hit on the chart. We may not have entered all together and orders can be adjusted. Trade what you see, this is purely our Bias. Why follow us? Updates on our pairs as and when we can. Swing trade out looks 10 years combined experience in capital markets simple breakdowns for beginners to advanced . KISS - keep it simple stupid. we trade purely from naked charts, less indicators - remove the noise. If you like our work, please leave a like or comment. Many thanks for your support to our existing and new followers. Much appreciated Thanks, Team Lupa.
Short
by LupaCapital
XAU/USD CORRECTION WAVE FLAG (Short)LAST POST OF XAUUSD FLAG BEFORE, ON CORRECTION WAVE FLAG PATTERN (3) TO (4) 0.618 TARGET DONE! AND I PROFIT WITH THAT. SAXO:XAUUSD NOW CORRECTION AGAIN TO RETRACEMENT OF 0.786 AND EXTENSION 1.272. YOU CAN LOOK AT THE CHART, THATS RED LINE I DRAW SIMETRICAL WAVE. YOU CAN READ BOOK "Carolyn Boroden" fibo relationship. SELL 1733, SL 1740, TP1 1720, TP2 1715 * "This analysis maybe not 100% win, you can use SL for manage risk, you can use them as examples of how to develop your trading system. You will be successful by testing and evaluating them yourself".
SAXO:XAUUSDShort
by Argymnasthiar_FX
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
USDCAD SHORT TWING, SINGW & INTRADAY en las 2 entradas anteriores posteadas del USDCAD tomamos ganancia por un total de 300 pips ahora vemos como el precio llego a la zona marcada para buscar ventas en 4h y 1d y observamos que nos crea un patrón de doble techo junto con divergencia y confirmacion con fibonacci en temporalidad mayor, esperamos shift of momentum en 5M y tomamos una entrada a corto en swing, y la entrada en 1h la tomamos despues del doble techo y ahora esta dando reentrada al retesteo de la ema 20.
Short
by DAVIDMT
Has the Nasdaq (Market) Topped? I find this long term chart of the Nasdaq Index with Fibonacci extension levels applied, to be quite illuminating. For me it puts things into a helpful perspective. By no means am I a "perma-bear" but I find this chart helps me to be honest with myself. Especially if I'm wanting to put money to work in this environment. Prices have extended well beyond previous year's moves and have reached those magical fib extension levels of 1.618 and 1.78. You may not agree with the method of analysis, the method of I've applied the fibs, or whatever....but I think most technical analysts could agree that these levels of extension often coincide with significant reversals. I'm not "talkin up my book" here, as so many seem to do on these forums, etc. Just some food for thought, and take it for what it is worth - just another opinion. The big question now is where does a bottom form? Fortunately price, volume , sentiment, etc. will provide the appropriate clues at that time.
NASDAQ:NDX
by kbier