Stellar about to break bullish flag and flyStellar has been in a flag pattern and has been beating on the resistance level. We are also getting confluence from the RSI on the 2hr chart, which is about to break into the bullish zone again (65+ points). It should break it within the next 2 hours to the upside to complete Wave 5 of this EW pattern.
EW guidelines state that Wave 5 can go up to 1.68 of the fib extension of Wave 1-2 (or all the way up to 2.618,) or can make a 1:1 measured move of Wave 3 (or up to 1.618.) Note that this is not always the case, but more times than not, you can rely on these guidelines.
So, the lower target zone is between 1827 and 1962 sats.
The upper target zone is a little larger: 2190 and 2550 sats.
It is more likely we will reach the lower target zone, because (another guideline) when Wave 3 makes a 1:1 move to Wave 1, which is the case here, then we will (many times) see Wave 5 will move to 1.618 of Wave 1-2's extension. However, you should keep an eye on the charts because every now and then, you might get a special surprise.
side note: The fib extension on the right is the extension of Wave 3-4, the one on the left is Wave 1-2
As always, this is not financial advice and you should use this TA only for comparison. Good luck and happy trading.
Fibextensions
QTUM/BTC Testing ResistanceQTUM/BTC is currently testing long term resistance and is in a good position for a long trade if it breaks out. Some targets are the local high at 0.00192 or the fib extension at 0.00270.
If it does not break resistance, expect price to swing back down to the bottom of the channel.
BTCUSD Bitcoin's next price move? @cdschultheis turned me on to using Tradinview's Fibonacci Retracement Tool to measure BTC's movement. He's got great analysis!
Logical Steps
1. A normal scale doesn't work with something moving at larger and larger intervals. You need to measure it with something that scales the same way BTC scales.
- A great post is @lewisglasgow 's post on it being Logarithmic -
2. Fibonacci is a way to measure Support and Resistance based on previous movements.
I had posted something before and would like to add to it. When drawing a Fib Retracement, the points must be drawn in a downward TREND. By doing it in this way, this method predicted the move to 16,600, and makes the entire system more accurate.
- Previous Post steemit.com
BTC may hit 5.618 or 6.618, DEPENDENT
1. How you draw it
2. The current cycle NOT becoming a trend.
- If it does become a trend, you would just redraw the retracement.
Note: BTC does respect USD amounts - The movement at $10,000 is one brought about by the way investors (especially inexperienced) will put stop losses/take profits at whole numbers.
Learn to trade: sixfigurecapital.com
Ready for something insane? This is not a prediction I'm willing to bet on, but...
If we were to do a fib extention of Wave 1-Wave 2, we find that on wave 3, IOTA went all the way to over 5.618. FIVE .
So... if we were to do a measured move using the same fib level for our next extention, where do you think we'd end up?
$30 .
One can only dream, right?
Etherium bounce back imminent!ETH/USD uptrend pullback has tested and hit the first Fibonacci cluster as major support.
It has also tested the second Fibonacci cluster as second major support.
Both have not been penetrated.
A bounce back will occur at either one of these zones. Use price action to enter market.
Take profit at 520.
EURUSD (fiber) Daily AnalysisWait for price to retrace to 79%-62% to enter a sell, then take profit accordingly. I'm ultimately aiming the Weekly support/ 1.41% Ext..
$USDCAD LONG NECKLINE BREAKLong 2 contracts @1.249 before neckline break @1.252. Looking for resistance at 100% Fib extension @1.279 from low @1.208. Anticipating pullback into .61.8-38.2 zone next week to two weeks before continuing ascent towards 1.618 Fib extension area around 1.325-1.332. ADX also showing move above 20 and +DMI clearly in ascendancy.
Short btcusd observed Dear Trader,
BTCUSD observed short
R:R approx 1 to 2
Trade with care.
Thank you.
GBPAUD 1H ABC Short TradePair had a ABC pullback. Several entries with pending orders or use 15m chart. TP is a 800 sma level from the 4H chart and the -27.2% fib level taken from the 1H chart. Watch the Macd Blue line to drop.
The power of reciprocals short to 0.80 then long again
wave II retraced 0.618 of wave 1 --> reciprocal of 0.618 is 1.618 (around which we saw the completion of wave III)
wave IV retraced 0.382 of wave 3 --> reciprocal of 0.382 is 2.618 (around which we saw the completion of wave V)
wave V has an obvious 5-wave sequence which comply with Elliot wave rules - the wave 2 of wave 5 is a flat correction, and wave 4 of wave 5 is a deep correction, (wave 3 isn't the shortest and the terminal of wave 4 doesn't exceed the high of wave 1.
GBPUSD 4H Fib Extention TradePair keeps making higher highs and higher lows so my expectation is that the bullish trend will continue. We have a 4h sideways consolidation range that has developed. Breaking that top resistance point is my first entry @1.3534. Then my 2nd entry is at the resistance level of 1.3618. My TP is the -61.8% fib @ 1.3674. I am watching the MACD Blue line to cross above the Red line. These are my personal opinions and are not trade signals.
EURUSD 1H Trendline Breakout w/FibsJust follow price action as you follow the arrows. Exit 1/2 position 5 pips before and re-enter 5 pips after whatever trendline or fib arrows are headed for.
USDJPY 4H Double Top ShortCurrent price is 111.00. Market could go up to 127% fib @ 111.60 and then reverse short. Or Market could reverse short where it is and go to the 100% fib @ 110.68 and then to the 50% fib area @ 109.00. Watch the RSI with price action for direction.
GBPUSD 1H FOUR Possible TradesThis pair's RSI needs to take a break from being above the 70 level.
First short trade sell stop @ 1.3545
Second short trade @ 1.3495
Short TP is 1.3455
First long trade with buy limit @ 1.3450
Second long trade with buy stop @ 1.3625
Long TP is at -27% fib @ 1.3740.
AUDJPY LONG BreakoutCurrently in a pitchfork formation on the 1D timeline. Just bounced off the centreline with some pace off the back of North Korea news. On the 4H chart we can see that the 1.618 Fib extnesion falls in line with that 2016 high which will be my target, just inside of the upper trend line of the pitchfork. Other indicators on the 4H chart shows the 5EMA has just cross over the 12 EMA, with a PSAR below showing a strong buying signal.
Short NZDUSD H&S D1 shows head and shoulders pattern that is being aided by daily structure and long term trend lines. H4 Fib shows B-C retracement has bounced just below the 50% line which was corresponding with the daily structure. Looking for the move down inside the green trend line towards the Red long term trend line and/or the 1.618 Fib extension
EURUSD 1H Trading Pull BacksPair has been in a bearish channel. A swing high was made and then lower lows and lower highs were made. There was a bearish pull back made. Price stalled between the 23.6% and the 38.2% fibs. A sell stop was placed at the 23.6% fib @ 1.1965. TP was at the -27.2% fib @ 1.1880
AUDUSD 4H Trendline BreakoutEnter trade on a 15m chart when a Break-Hook-Go on price breaks the trendline.
TP1 - 78.6% fib @ .8071
TP2 - 100% fib @ .8125
TP3 - 127.2% fib @ .8193
Watch Macd Blue line to cross above the Red line.
EURJPY 1H Triangle BreakoutLong Breakout - My preference is long - Macd is over extended below 20 level
TP 1 at 78.6% fib @ 130.40
TP 2 at 127.2% fib @ 130.99
Short Breakout
TP 1 at -27.2% fib @ 129.14
TP 2 at -61.8% fib @ 128.73
NZDUSD LONGLooking for a bullish push above 1.72550 pivot line, which is forming a strong area of support with the 38% 1D Fib and 61.8% Fib on the 1H timeframe. Oversold on the 1H StochRSI, looking for a retest of the 7330 region of the previous highs, and move up towards 1.74150 for the 1.618 extension.
USDJPY 1H Channel Breakout ShortPair is in a bearish channel. Price is due a pullback. Retrace range 38.3% fib @ 108.10 to 61.8% fib @ 108.59.
Entries
1st at 23.6% fib @ 107.80
2nd at break of bottom channel trendline
3rd at 0% fib @ 107.31
TP at -27.2 fib @ 106.75
My TP will be @ 106.80
