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Extensions

Geometric, trendlines and fib structures for mapping bearWe have crossed the 10% correction on Nas in rapid manner. The wise investor has a roadmap, doesnt blow their load in one go. Using an arc that originates at covid low and terminates at the oct 2018 high, intersecting a long term nas trendline that captures pre 2018 support. fib extensions of the spring/breakdown zone that we experienced between 15.5k and 16.7k point to (1.618)12.875k, and (2.618)10.44k. fib retrace from 2018 low place a focal point almost exactly at nas 10k. The arc provides room for upside and criteria for breakout from the bear market. This doesnt need to be a bear market, (we can V shape back to 'normal' again), but quantifying protracted downside can help map things out. If you dont prepare, then prepare to get smoked! -queso_lord
OANDA:NAS100USD
by UnknownUnicorn3390306
2
NVDA Short 200-202NVDA complicated FIB game . I can do it many different ways but decided to play with Projections and extensions . So In general NVDA will face resistance at 200-202 will go down to 197,5-198 . then will go back to 204-205.5 . Then if QQQ and BTC hold it will continue its Prearnings run and after Earnings if it rip up will go high --everyone discussed this levels of 215-235 , but then down big times . In case NVDA stop at 198 and face strong resistance i do not know it is not likelly but possible then you know in case earnings sell off look down 160 or lower
NASDAQ:NVDA
by mariyan15135931
1
mastering elliot waves. wave measurements in real time.When you are just learning something I think it is best not to perform it on a live chart right away. You will most likely still be grasping concepts and run a high risk of failure and frustration. That being said, here are some basic applications of using Elliot wave measurements on something that's happening now. The 4 hour time frame is wide enough where you are capturing a majority of the forest, but still seeing details. What's the plot today?: The plot here is that there was a bullish monowave, a retracement of that monowave resulting in nondirectional movement, the nondirectional movement then stayed above important retracement levels and has now ended by breaking above important extension levels. If that is the same story you came up with then we are both on the same page, and with a little luck, doing something right. You could say "what are you doing calling an impulse on a 4 hour time frame a monowave?" You'd be right, but calling it a poliwave doesn't lighten the cognitive load considering where price is currently so I'm sticking with monowave for simplicity's sake.
by emehoke
2
Fibonacci 101Fibonacci retracements follow a mathematical principle set forth by Leonardo Fibonacci. To put it simply - each level is a ratio between two other numbers, and there are countless examples of them being respected in the stock market, forex, crypto, commodities - you name it. For this reason, it's an essential tool in the technical trader's toolbox. There are many uses for this tool: Finding regions of support or resistance Helping with stop loss placement Establishing targets to take profit - especially during price discovery (no existing S/R levels) Rules of Thumb While placement of your anchor points is somewhat subjective - a rule of thumb is to stick with glaringly obvious swing points . Simple is best with this tool - one of the reasons that it works is that other traders (or trading algorithms) are watching the same regions of price as you are. No need to overcomplicate it! For a bullish retracement (+ targets) - begin your Fibonacci at a swing low, and end it at a swing high. For a bearish retracement (+ targets) - begin your Fibonacci at a swing high, and end it at a swing low. Personalizing Your Settings The way I have my Fibonacci retracement tool configured, it includes some trend-based Fibonacci extensions in the calculations as well. This can be done by opening your Fibonacci settings and adjusting the inputs. The levels I have as inputs are as follows: 0 - This is your starting point 0.236 - The shallowest retracement 0.382 - Shallow retracement 0.5 - While not a Fibonacci number, this is the midpoint of your swing 0.618 - Commonly referred to as the "Golden Pocket" - this is generally a very important region of support/resistance. 0.705 - While not a Fibonacci number, this is the midpoint between the 0.618 and 0.786 - a level that tends to see lots of activity, and is thus included in my settings. 0.786 - This is the deepest retracement before a full retrace. 1 - This is your ending point -0.27 - While not a Fibonacci number, a very commonly used extension target during price discovery - Target #1. -0.414 - While not a Fibonacci number, a very commonly used extension target during price discovery - Target #2. -0.618 - This is your golden ratio - Target #3 during price discovery. -1 - This is a 100% extension of the distance between your starting & ending point. etc, etc - you can extend as far as you like! Where Fibonacci extensions really shine is during price discovery - areas where there are no previous levels of support or resistance (new ATH's). You can see on this $SPY chart - using our Fib tool on the COVID crash gave us some very accurate upside targets for the subsequent rally into new ATH's. I hope this introduction to the Fibonacci Retracement tool on TradingView helped you develop a basic understanding of it's applications - make sure to like if you learned something and follow us for more! Will, OptionsSwing Analyst
AMEX:SPYEducation
by optionsswing
70
How I Calulate the Fibonacci retracement and extensionsThis uses BE as an example of what I do when I calculate the Fibonacci retracements and extensions, which are used to measure corrections and future price targets. Retracements I start by finding the location of a correction. I define a correction as anything the closes below the 20 period moving average. The lowest point in that correction becomes the first point of my Fibonacci retracement. Then you need to find the high prior to the next correction - that will become your second point of the Fibonacci retracement. What you have after that will be the Fibonacci scale. Corrections are expected to occur between the values of .5 and .768, with many ending at .618. This is the predicted bottom of the correction. Fib Extensions Adding to this we can make predictions as to the next Price Target (or correction point). To so this just add a Fib Extension to your chart, the first two point reuse the two points determined with your Retracement, the third point is the actual low point of the retracement correction. This will add a positive Fibonacci scale, which you can use to make future Price Target predictions. Typically is your retracement was between .5 and .768, you can expect the PT to be around the 1.618 on the scale. From my diagram you can see that I have one completed correction/surge cycle which matches nicely with the expectations. There is also the next PT, which is yet to be completed, which lands us at the $77 range. Hopefully this is helpful, as I think it's a pretty simple yet powerful technical analysis tool!
NYSE:BEEducation
by dzygadlo
8
Feeding Frenzy 8 AMThis pattern first started once a week in November and has slowly developed into every other day, retail longs on the extended Euro Dollar have been pumping liquidity to short sellers. The following day usually has a nice pump and the lower lows and higher highs as the "uptrend" continues. Now that stimulus has passed I believe that more big sellers will begin to step into the market and price will correct on EURUSD. I noticed this pattern when looking at OBV and the negative divergence shows that this floating to higher prices can only go on for so long before someone hits the kill switch. Something else to note is the correlation between the S&P 500 and the DXY index. They are inverse, and all that it might take for a correction of the Euro Futures is bad week for the S&P.
CME:6E1!Short
by crawfordpaul
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
Bitcoin to 250k by 2023Fibonacci timezones and extensions are both very powerful tools when it comes down to finding out what time a bull market starts/ends and at what price range. The fib time zone 0.382 and 0.6 (highlighted as a vertical red and green color) is both used in order to identify the bottom of a bear market by taking previous lows onto bull run highs. This also allows you to see what timeframe the run will end by using the 2 (purple horizontal line) fib time zone; although the timezone is not accurate it serves as a way of understanding the potential time in which price peaks. The fib trend extension tool on level 14 allows you to identify the top of the potential price.
BNC:BLXLong
by Pillsbury1111
5
USDCAD Finishing up the X wave Looking for a big ShortUSD/CAD is about to reach the end of the X wave and it is common for it to retrace to .618 of the W Wave. I'm looking to short at 1.343 and I'm expecting price to reach the major trend line to finish up the Y wave. This is also going to have an effect on Eur/Cad. While USD/CAD has been moving up the X wave, EUR/Cad has been consolidation. Once Usd/Cad finishes going to X, Eur/Cac can finish up it's B wave. I will link the EUR/CAD idea.
Short
by CrisBarr96
USD/TRY: Swing-Setup! TRIANGLE BREAKOUT and a nice opportunity!Hey tradomaniacs, welcome to another free signal! Important: This currency-par is very volatile and sometimes unpredictable! Make sure to trade with a decent money-management! ----------------------------- Type: Swingtrade Buy-Stop: 5,36806 Stop-Loss: 5,25977 Target 1: 5,550 Target 2: 5,66790 ----------------------------- LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Long
by Trading2ez
3