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ETHUSD Technical Analysis: Fib Retracement Levels & Wedge!!Pretty simple analysis of ETHBTC pair, Ethereum generally gaining a bullish outlook for the next week or more, so far ETH BTC has formed a really nice and beautiful descending wedge formation in the Heiken Ashi D1 Time Frame. Short Term BUY Opportunity: Taking the top 1.0 Fib level as on 18 May 2019, and the lowest of 0 Fib level on 4 Sep 19 + 10 Jan 20 - ETHBTC rebounding strongly from the 0.236 Fib level twice, which is also the bottom line of the PURPLE descending wedge, validating as a strong support to watch - I would expect a BUY OPPORTUNITY for the next few days up to the TOP of the WEDGE Long Term BULLISH outlook: - Look for ETHBTC reaction to the top of the wedge, possible more sideways action till 0.382 Fib level coincides with the top of the pink wedge --> A break above this would flip these into a major support for a break upside - BREAKING above the wedge would give us a BUY OPPORTUNITY with TP1 @ 0.50 Fib, TP2 @ 0.618 Fib, TP3 @ 0.786 Fib or even 1.0 Fib Fundamentally, an overlap of the release of ETHEREUM 2.0 along with a bullish run upwards of the wedge would give us more BUY momentum and therefore TPs can be adjusted higher on the Fib levels if these happens. I would be putting my coins on ETH 2.0 being released in JULY 20 or so. As always, trade carefully with stop losses. Feel free to like and follow if you enjoyed from my ideas = ) Best Regards, GOLD D ROGER A humble trader in training
Long
by Gold_D_Roger
BTCUSD Short - Harmonic Pattern shows Bear but Fib shows a BullHey I'm trying out new patterns to learn the ways of technical analysis. This time using Harmonic Patterns and Fib channels. From what I can see if I interpret if this right, the Harmonic Pattern shows a clear Bear and the Fibonacci Channels show a stronger support for a Bull (due to the more lines that matching up between 23.6% and 78.6% as support layers). I think BTC might go up a little, but as we near (D) from there BTC should be dumping due to heavy resistance. More analysis coming up soon. If you have a different opinion about this or I'm entirely wrong. Let me know in the comments, I'm stil a student at this! According the investopedia these are some of the highlights that I followed on these Harmonic Patterns and Fibonacci Channel: Harmonic Patterns The price is dropping to A. D is an area to consider a short trade, although waiting for some confirmation of the price starting to move lower is encouraged. With all these patterns, some traders look for any ratio between the numbers mentioned, while others look for one or the other. For example, above it was mentioned that CD is a 1.618 to 2.24 extension of AB. Some traders will only look for 1.618 or 2.24, and disregard numbers in between unless they are very close to these specific numbers. Fibonacci Channels Common Fibonacci numbers in financial markets are 0.236, 0.382, 0.618, 1.618, 2.618, 4.236. These ratios or percentages can be found by dividing certain numbers in the sequence by other numbers. A Fibonacci extension requires three price points. The start of a move, the end of a move, and then a point somewhere in between (the pullback). Traders will watch the Fibonacci ratios between 23.6% and 78.6% during these times. _____________________________________________________________________________________ I'm purely a beginner in technical analysis. Please hit like, follow or place a comment if you wish. Any of your feedback is my motivation to keep going and to learn more about Technical Analysis!
BITSTAMP:BTCUSDShort
by AlgoSurfer
4
GE Today ForcastI'll Update You When Trade Is Active Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together. *Please consider to hit the like button *Follow Me to get regurlar updates *Show me your support and thoughts in like and comments...it would be awesome *Good Luck Disclaimer *The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. ______________________________________________________________________________
NYSE:GELong
by TradingCalls2000
1