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EUR/NZD Long call (Analysis, Biased and Trade Plan)EURNZD Chart Analysis: 1. Dow theory- HH-HL 2. Bullish engulfer 2hrs ago 3. False breakout at Fib Retracement level 0.23 4. weekly support line at 1.644, close to fib 0.38 level 5. AB=CD pattern BIASED LONG Watch out level (breakout at 1.6442 support level) OR Fib 0.38 Plan A Take entry right now at 1.6523 SL at 1.6438 or at fib level, right below the support line Plan B Wait for further confirmation of the false breakout at fib 0.23 level, Take entry at 1.6566 TP1 at point B=1.6625 TP2 at point D SL, in this case, should be right below at point C or at the support level Please like, share, and comment if you agree. Disagree, any suggestions? Welcome 24/7
Long
by Zeb_0555
Monthly Plan: levels for ETH USDT When I plan for the long term I like to go on the Monthly time scale and but my horizontals. Represented here in the color blue. This time I'm using Fib Speed Fan because it helps me visualize the last yearly movement and helps me prepare for lower levels. It would not surprise me if the price bounced in 1840, for example. It's possible that something external happens and people massively take their money from ETH which could make the price go as low as 300 USDT and it would still be within reasonable probability, in my opinion. I mainly work on this analysis to keep myself up to date with the ETH price which is closely related to NANO. Instinctively, I feel that before the price goes to the price I want to sell my NANOs for it has to go much lower. It really must be the perfect buy opportunity to insstigate people to sell other alts in favor to NANO. I hope you are all good.
by Alexandre-Perrella
Weber's Law and Fibonacci Numbers: An Exploratory EssayI use Fibonacci numbers rather frequently. In fact, the Fib retracement tool is the first thing I reach for when I start on a new chart. However, explanations for how Fibonacci numbers work have always sound woolly and mystical to me. They work because "man is subject to rhythmical procedure", because there is a Golden Ratio that is hidden behind all things, because Cthulhu says so? However, when we take a close hard look at reality, and actually whip out a ruler and measure things, we find that the Fibonacci sequence is *not* found as-is throughout reality. What we do find are *approximations*. However, this is to be expected for approximations of subjects where the rate of growth is proportional to the current size. And this is to be expected because of Weber's Law. Weber’s law is a psychological law quantifying the perception of change in a given stimulus. The law states that the change in a stimulus that will be just noticeable is a constant ratio of the original stimulus. It has been shown not to hold for extremes of stimulation. And since I will be referencing Mike Cohn's excellent essay (1), I might as well quote his explanation of how Weber's Law apply to Fibonacci numbers: "Imagine instead being handed a 20kg weight and a 21kg weight. They are the same one kg difference as the one and two kg weights. But you would have a much harder time identifying the heavier of the two weights. The difference from one to two kilograms is 100%. You can probably distinguish the weight of items that differ by 100%. The difference between 20 and 21kg, however, is only 5%. You probably can’t tell the difference. (I know I can’t.) And if you could, it would mean you should be able to distinguish between a 1.00 kg weight and a 1.05 kg weight, as that would also be 5%. The values in the Fibonacci sequence work well because they roughly correspond to Weber’s Law. After the two (which is 100% bigger than one), each number is about 60% larger than the preceding value. According to Weber’s Law, if we can distinguish a 60% difference in effort between two estimates, we can distinguish that same percentage difference between other estimates. So, the Fibonacci values work well because they increase by about the same proportion each time." So, given that how we think is affected by how we perceive (2), if Weber's Law applies, the Fibonacci retracement tool works for some of us because it allows us to focus our *imagination by visualising discernible and distinct possibilities within a limited range*. This is why the common criticisms of TA, including Fibs, are valid: 1) it is an uncertain business; 2) one cannot consistently identify where levels should be placed and forecasts are prone to revision; 3) its narrative story-telling power may be stronger than its forecasting power; and 4) levels cannot be verified till they have been tested (ie passed). Let's be humble and accept the general validity of these criticisms; for if TA can be an exact science, let he produce an algorithm which could make anyone rich! That being said, if Weber's Law apply thusly, it simply reaffirms what experience traders often exhort: that it is hard for algorithms to replace (3) the imagination and instincts of an experienced trader! Having said that, if Weber's Law apply thusly, we ought to 1) pay attention to how other industries, eg Mike Cohn's, have adapted Fibonacci numbers to great success and ask ourselves if our approach to Fibs can be adapted accordingly; and 2) maybe more importantly, reconsider our values, assumptions, beliefs and expectations of those tools we use that are based on Fibs. (1) www.mountaingoatsoftware.com (2) www.frontiersin.org (3) "Replace", not "aid".
INDEX:BTCUSDEducation
by AlphaBravoCharlie77
14
21/11/24 - Gold targeting at least 50% correction Hi trader, please see my current idea on Gold. I think we are done with our bearish impulse, due to our 5 wave structure and this big divergence on the RSI. A 50-61.8% Fib retrace is the conclusion and our profit areas. DXY should be weaker now. This is because of FED's released its minutes. What I have read in the paper is, that the FED is generally going to increase rates sooner depending on the inflationary environment. This news is nothing new for investors, since the increasing of rates is the only possible way to hold inflation under control. However, I think this news is already priced in the Dollar Index. Have a great evening, RT
OANDA:XAUUSDLong
by RT_Trading_
9
ADA MFI oversold levels, fib levels and fractalToday MFI daily has reached the same oversold level as the bottom of July-September capitulation period. Fractal of July-September fall looks interestingly similar to the fall of September. Both drops reached the golden pocket fib levels of around 0.6 which is not surprising. Will ADA repeat the same story? Are there enough fundamental news coming up in the near future to compensate for the bearish price action of today after e-toro delisting it? I'm personally bullish on Cardano at these prices, but is not clear how long we will remain bearish in the short term. Are you accumulating or dropping the bag now?
Long
by TheTradingParrot
3
SPY- Bearish- UpdateJust posting a quick update as the SPY is looking even more bearish after closing on Friday with a spinning top reversal pattern on the weekly timeframe- the markets have been overextended for quite some time, technicals are bearish on almost every timeframe- Some FIB levels and RSI-based supply and demand zones to keep an eye on- - Bearish Megaphone Formed - Bearish ABCD Harmonic Pattern Formed - Spinning Top Candlestick Pattern Formed on the Weekly Timeframe (Bearish Reversal Pattern, See Attached Chart Below) - Bearish Butterfly Harmonic Pattern Also Formed on the 4-Hour Timeframe (Not Pictured) - Buyer Volume Drying Up - Bearish Hidden divergence on the RSI - Also way in Overbought Territory Weekly Timeframe Previously Charted
AMEX:SPYShort
by jacobosiason7
1
AAPL hitting major resistanceWhats up guys. Haven't posted in a long while but looking to start posting more often again. For those that haven't seen my ideas before I use very basic trend lines and Fib levels to determine entries and exits on large companies like TSLA, FB, AAPL, etc. I then use options to maximize earning potential, typically looking at those expiring within the current week or the next. I'll be looking to buy some puts today or monday on AAPL as a short term correction looks inevitable.
NASDAQ:AAPLShort
by kyleeto
XRP - Heading to 0.70 Cents?XRP has been in a correction for a while now. We can see it is in a descending correction which looks like a large bull flag. It has all the signs to me that it's heading down to 0.70 cent or around that area. You can see the -27 fib target is just outside the Main ascending trend line, structure & descending flag pattern trend line. There is also a chance it reverses from the double bottom area but with so many confluences at the 0.70 cents area that where i would rather enter a buy.
BITSTAMP:XRPUSD
by UnknownUnicorn26193975
10
long $YOUWeekly candle looks like it's hitting an important level of support. I'm expecting a turnaround. Potential area's of resistance that will hopefully turn to support are: 50-day MA @ $43.37 .236 Fib @ $44.03 VWAP from ATH @ $46.11 I could easily see it back at $44 in the next two weeks. Maybe even by the end of the week. With global travel expected to be fully back by 2022, Clear Secure ( YOU ) is a solid 6 month to 1 year hold depending on how things shake out in 2022.
NYSE:YOULong
by EBITDAtiger