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Fibextension

Help needed! What do you think about this? #Bitcoin #BTC (Here's the chart with higher quality) Playing around with Fib Extensions /// Used 3 Key Fib Extensions /// Got that overlapping of the 1.272 level... When I got the first two 1.272 overlapping level from Fib Extensions A and B I thought "wtf? this is peculiar...". Then I draw the last Fib Extension (c) and when that 1.272 level overlapped the two first one that was when I really stop to look at this... I draw some white boxes at level 1 for all the Fib Extensions and we're exactly on the middle of the 2nd box of the 3rd Fib Extention. -------------------------------------------- Q: What do you think about this? just a fun fact, or is there something more behind this Fib extension levels?? I really would like to read some opinions about this, so feel free to leave whatever you think, Thanks! --------------------------------------------
BITSTAMP:BTCUSD
by YearMillion
2
Zcoin (XZC) Cryptocurrency Strategy – 3L-R Trade PatternZcoin XZC 30m The 3L-R reversal is a four-bar pattern and it means three lows (3L) followed by a reversal (R). The main characteristics of this reversal chart pattern are the three consecutive lower low candles. The high price of these three particular candles doesn’t matter; the only thing that matter is that each low is lower than the prior low. The fourth bar of the reversal chart pattern needs to have the high bigger than the highest high of the previous 3 candles. We’re not concerned about the low of the last bar. Step #1: Identify Three Consecutive Lower Low Candles The first component of this reversal pattern is the three consecutive lower low candles. At this point we’re not concerned about the highs of the three candles. However, you’ll notice that most of the time each consecutive high is also lower than the previous high. What is great about the Zcoin (XZC) cryptocurrency strategy is the fact that it’s designed to catch market reversals right at the moment they occur. Step #2: The fourth candle breaks above the first bar high in the reversal pattern The immediate candle after the three lower lows needs to be a bullish candle and secondly it needs to break above the first bar high in the pattern. Normally, the highest high of the first three bars is made by the first bar, however, in the event that this is not the highest high we need to wait until the fourth candle breaks above the highest high of the previous 3 candles. Note* It’s important that the 4th candle breaks above the first candle high, not the 5th or the 6th because that will invalidate the reversal pattern. We need to be very precise when trading reversal patterns like the 3L-R pattern. Even though we said that we’re not concerned with the low of the fourth bar, it does matter if the low is higher than the third bar’s low. Through our backtesating results we have found out that this yields better trading performance. Step #3: How to buy Zcoin: Buy if the fourth candle closes above the last three candles highest high Before we pull the trigger and buy cryptocurrency Zcoin we need for the fourth candle to also close above the first candle high or above the last three candle highest high point, whichever that might be. Now is the time to convert this reversal setup into profit and buy Zcoin when the fourth candle closes above the last three candles highest high. Step #4: Place your protective Stop Loss below the 3L-R pattern low Trading reversals have lots of benefits and among other things it offers us the possibility to really use a very tight stop loss. If the trade doesn’t work the market will tell you very quickly and it will produce only very little damage to your account balances. Like with any reversal pattern, if you want to keep the stop very tight you need to place your protective SL below the reversal pattern aka below the 3L-R pattern low. Step #5: Take profit should be at least two times bigger than your Stop Loss If you trade this reversal pattern on intraday charts, it’s best to simply take profit once the Zcoin price will give you a return that is two times more than your stop loss. In other words, you have a risk to reward ratio of 1:2. Alternatively, if you use higher time frames the exit strategy should be based on a trailing stop. Note** the above was an example of a BUY trade using the best Zcoin XZC cryptocurrency strategy. Use the same rules for a SELL trade – but in reverse. PM me if you would like to read the complete strategy.
XLong
by Tradingstrategyguides
ETH Correction Wave C and Fib LevelsHere we have a possible Elliott Wave count on the 4h chart where ETH is currently in the C wave of an ongoing ABC correction. ETH going above the swing high from wave 5 (830 level) or the even 725 level might confirm the end of the correction and the start of a new impulse wave. Fib extension levels of wave A are shown by the dark orange levels. Fib retracement levels of the green impulse wave are shown on the right. Both the fib arcs and fib spiral are taken from the low to the high of the impulse wave. The scale has been locked at a ratio of 2. Please note that the positions of the uncompleted waves are arbitrary and should not be taken as price targets.
KRAKEN:ETHUSD
by madwarrior
BTCUSD - Where will we bounce?In a previous idea, BTCUSD-Where-will-a-retrace-happen/ , a 1.0 Fib Extension was indicating that a reversal could occur near 6250. While the price action briefly looked like the sharp beginning of a bounce, the rise was quickly overwhelmed by bearish pressure, and I think a little bit more time will completely invalidate this swing idea. So, what's next? Since BTC's monthly MACD is now bearish, I zoomed out from the daily chart to the weekly chart to look for a stronger area for reversal, still using the 1.0 Fib Extension of the previous retracement. What does this mean? Look for typical bounce areas between the current price and 4750 to be choppy due to strong bearish pressure suppressing bounces. Look for a bounce and a multi-day swing at the 4750 area. There is still room to get short.
COINBASE:BTCUSD
by NickelGrasshopper
2
Short/Long Fib targets, with updated fibs + 1 new fib.Here are my fib levels updated from earlier that include all fib levels on my main chart. I believe it is a good time to short with MACD crossing down, with the fib levels below the current price as the next targets. But this idea is mainly to point you to where the fibs are and the different targets i believe BTC will retrace to next. As you can see every move up or down can be correlated with a different fib level. Once the drop or pop happens it then teeters sideways around a fib that I have placed. I would love any feedback positive or negative. I know this is basic and not too in depth, but i believe the fib levels are crucial and can tell an important story about where BTC goes next.
BITMEX:BTCUSD.PShort
by jspence3013
BTCUSD - 1.618 FIB extension from top of 5th WaveI am charting 7200 as 1.618 Fibonacci extension from the top the 5th wave formation (6150). It has not been able to rally back above that line since the punch through overnight. It has tried and failed around 7190. There is not much support up here and it falls through 7000, I think will start to see at least a small correction of sorts. Possibly back down to top of 5th wave 6150 or if that doesn't hold 5700. Its really strange trading conditions right now, besides the the beast of a bull market you have Segwit2x looming. So my guess we don't get full correction until that is through, but I doubt we see it holding above 7k for very long. Top of 5th Wave seems a safe, well supported and place to ride it out until Nov 16th.
BITSTAMP:BTCUSD
by lewistz