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ETH IMMEDIATE Short Sale: Fibs, Fan, Trends, and ResistanceWhat's up Guys and Gals, this is a short sale idea for Ethereum based on 3 prior sharp sell-offs over the last few months. The idea for this trade is based on the market meeting resistance at the 38.2% Fibonacci level (the entry on our potential short trade), and re-testing the 61.8% Fibonacci level (which is our profit target AND potential entry into a long trade). The time-frame to be in this short trade is roughly two to three WEEKS. This is about how long each prior sell-off in the last 3 months took to make their runs, with plenty of opportunities to get out in between. The risk-reward profile on this trade varies depending on where you place your stop, but the example I've provided is a good middle-of-the-road stop (a reasonable 18% loss limit) with an attractive R:R of 1:2. As long as you keep your loss limit under 30%, giving your trade some additional room to breathe is not a bad idea. The benefit of this is insulating your position against the potential effects of breaking news events, while the disadvantage is more risk. Approximated trendlines and the top of the downward channel roughly coincide with the 61.8% level, which, to me, adds to the support strength of the price level there as a buying opportunity. With the Gann Fan, price should theoretically fall faster once it retraces past the 3/1 line. The 3 represents units of movement vertically (price) over the 1 unit of movement horizontally (time), which I also see as added confirmation for this trade idea. If you are just not comfortable selling ETH, I would recommend that you wait for price to come down into the 61.8% level to enter into a long position. Don't forget to check out my long-term Elliott Wave long trade idea for bitcoin as well, you won't want to miss it! I'll post an update if North Korea immediately sends price flying and wrecks this trade. Happy Hunting Everyone.
Short
by Piptocurrency
3
ETCBTC ETCetera (Circular Geometry)ETCBTC rally unstoppable? ETC the original Ethereum .(for more info on ETC/ETH @spacetrader ) (Circular Geometry) shows the way. Unveiling the underlying architecture or structure of the Price/Time continuum. The Golden Means Ratio is the loom on which manifested reality is woven. It is the base (Circular Geometry) which rules everything within manifested reality, visible and invisible. It is Phi and his little brother phi. Om Sri Satoshi Ji Namah OM Sri Satoshi Mahadev! Jai! OM
by FlippingABitCoin
5
Gold perspectiveToday's data made a spike up that was quickly rejected and showed that the main trend in gold is still down. We also broke the 0,618 support from the fib fan and I believe we're headed towards 0,5 angle. The Gartley pattern shows a nice confluence of fibs at D: 0,786 XA 1,414 BC 1 AB from C (I like this one, seldom used) As some indicators show, we are getting quite oversold, so it's possible to have some retrace before reaching this target. Do not underestimate the fact that tomorrow is the full moon, we may see another selling spree, see my previous post.
FX:XAUUSDShort
by purpurato59
2
Long CADJPY: Crab + Bat + AB=CD + Fan + Pivots + SR + DivergenceCADJPY has entered the PRZ of a series of bullish harmonic patterns in an area of strong support. The PRZ, which is formed by the combined reversal zones of a bullish bat and crab, may also be tested near the .5 Fibonacci speed fan line for an added level of time-based support. On a larger TF, a bullish AB=CD pattern is complete in the center of the PRZ. There is also a weekly .618 Fibonacci retracement level from structure low to structure high in this area. Five missed weekly pivots and one missed monthly pivot sit above price to add to the bullish bias. In addition to all of these factors, bullish divergence is printed on both the MACD and RSI oscillators. Entry is placed at the .618 retracement level with a stop loss below the S/R zone. Target is placed at .382CD (AB=CD pattern) which coincides precisely with the nearest missed weekly pivot and significant structure highs. This setup yields a R/R of about 3:1. Confluence in the PRZ: Bullish AB=CD pattern completion Bullish bat pattern completion Bullish crab pattern completion 2.5BC projection (bat + crab) 2.5AB=CD (bat + crab) .5 Fibonacci speed fan support Strong S/R Zone .618 weekly fib retracement level 5 missed weekly pivots above price Missed July, 2015 pivot above price Bullish RSI divergence Bullish MACD divergence Thanks for your continued support and don't forget to follow for future updates and more trade ideas!
Long
by glennmercer
8
Long EURUSD: Crab + Shark + Fan Support + S/R ZoneEURUSD may potentially complete a pair of bullish harmonic patterns within a very tight PRZ. The PRZ is confluent with a horizontal support/resistance zone and depending on timing may find added support from the .5 fib fan taken from structure low to structure high. SL is placed beyond 1.272XA with targets at .382CD and .618CD retracements of the bullish advanced patterns. Confluence in the PRZ: Bullish shark pattern completion Bullish crab pattern completion Strong S/R zone .5 fib speed fan support TCT Thanks for your support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Long
by glennmercer
Fib Speed Resistance Fan StudyThis is a study of how I like to use the Fibonacci Speed Resistance Fan to help predict future price movement*. While it's not difficult to notice the strong connection between the fan and price movement, turning that into something tradable can be much more of a challenge. Although there are undoubtably many opportunities, this study focuses on two potentially tradable ideas: 1) Riding the new breakout and confirming when it's no longer valid 2) Anticipating a new breakout (*Study only. I did not trade this chart)
Education
by Fr33zerPop
1