BTCUSD – Inching away from bearish mood?A small exercise, using Fibonacci to find trend lines, support and resistance.
If the trends shown have any value, with every step forward we take consolidating, we inch away from this bearish mood.
Until we break support or resistance, I wouldn't recommend trading large values.
Keep in mid that I used no indicators, and as far as we are concerned, in the long run, RSI is showing that we might expect a significant drop.
Best regards,
Fibb
Potential 300 Pip Playground Of Selling/ConsolidationOverall GBP trend is LONG (Daily) before we rise up and shoot to the -27.00% fibb target (which also lines up with the 200 EMA) we have 100-300 pips potentially to fall. I believe this is where the market will trap traders before resuming long. Heavy Fundamental News coming out this week, trade safe!
GJ Retrace back to the downsideAfter tremendous bullish movement we have: 61.8 fibb level, previous support/resistance level AND a hopeful trend line roof to support a short sell. Risking 40 pips to make 120+. Only trepidation i have is that we are not QUITE at the 61.8 fibb level. Advisory: we're just coming off a STRONG uptrend and we might still be in it use medium risk.
HIMX stock long shortterm trade
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NOW get long nowStock came from $26.33 to $71.80 for one year. Then agressively sold off from high. Pretty deep pullback which we can measure with fib levels - 61,8% is support - the last chance for bulls to prove that it is not reversal.
Yeasterday it went through lows but managed to get back and closed on highs. Showed us relative strength vs broad market (SPY, DIA and QQQ showed some breakout failure signals and closed around 1% down)
Despite it is below all key moving averages I have thoughts that money can rotate into underperforming stocks as many sectors are extended and markets are nervous so it is difficult to buy them.
Trade Plan:
Enter: now @ $47.82 or wait for additional confirmation brak up through consolidation resistance @ $49
Stop: below low of the day where sellers failed to hold below $46 then we have support from $44 to $45
Target: $53 swing high where 200 MA lies then we have $55