Heavy support could be potential buy zoneSeems we could be met with some heavy technical support here, i'd keep an eye out.
Confluence checklist:
Whole number support
1.272 extension
Within support pivot zone #1
Fibextensions
Bit Coin new highs potential level for a pull backUsing Fibonacci extension of 1.61 from the pull back after the last high. You can see that Fibonacci works well for bitcoin as I have the retracement on there to predict an accurate reversal point. The Elliot Wave theory also seems to show that there is more to come from the current impulse wave.
USDJPY 8 Hour expecting lower lowLooking for price to tap 111.50 and continue to decline , first target being 109.50 . If we continue lower then that, 103.00 is where i see USD/JPY falling to .
Short on XAU Soon (maybe next week) Described in the picture in the picture there is a .786 Fib retrace, a 1.00 Fib extension, Significant Resistance Zone, and a (weak) Gartley pattern that completes at this price level! I am also thinking, depending on how aggressive the price moves to the level, the 21 RSI might be in over bought conditions!
USD/JPY Weekly Bullish BatCould see another equal measured swing to the downside from the swing that happened end of 2016 until May. Looking for Price to fall to 123.00 - 123.25 . This is a very long term bias but i see Dollar weakness for the next couple of months .
AUDJPY TCT Long Trade OportunityAfter the D1 rezistance was broken, prize has returned to this area , which should became support now. ABCD + fibonaci expansion + H4 TF hidden divergence
ETC Profit LevelsAs long as the trendline continues expect some gains in the near future.
I have placed some fib extension levels indicating good exit positions.
Thanks and good luck to all!
Cup and Handle?Large round cup followed by 50% pullback? Yes
Descending Volume Profile? Yes
Targets = Measured move and/or 1.618 fib and/or R2 pivot
more info on C&H here: www.youtube.com
GBPUSD is heading towards Reversal ZoneAfter price broke higher the structure zone, now GBPUSD is heading towards the reversal zone on 1H.
Reversal Zone is formed by:
1.414 Fibo Extension from the current structure Low to local high
1.618 FIbo Inversion
0.618 Fibo Retracement
Structure to the left (purple one)
You can enter aggressively on that structure trading opportunity or your entry rules - LLLC, Double Top(don't forget the RSI) and so on.
Stops above the structure (purple one), the target will be a retest of the Structure Low.
Good luck
Long term fibCan anyone who understands this better than I do please comment on my fib extension? I have no idea what I'm doing or what I'm supposed to see here :-)
Ethereum Looking Bullish A Bullish engulfing candle just closed. With higher lows looking to trend back up. Fib ext is plotted.
GBPUSD retracement then extensiongood day everyone
one of the basic techniques to master
trend pullback and extension
as per the example showing using the febs
enjoy i hope it helps
Gold continuing it's move up (GLD)Gold has broken through the 120-121 level and looks to be heading higher. could see resistance around 124, then the next resistance would be around 128.50
Fibonacci APPL Extension/Retracement *Idea
This is my first time using fibonacci numbers. Just beginning to learn this strategy. I believe that there will be a pullback soon for APPL. My prediction is that it won't be anything significant. We have a gap support and resistance. Any comments and criticism is greatly appreciated. :)
GBPJPY possible shortRejected by .618 line and still shows signs on resuming bearish trend on higher time frames so re-entry at 139.361 level with stop loss just above .618 line @ 139.701 level with tp at roughly 138.425 with potential to carry on dropping to 1.27 extension of 137.523
GBPJPY short at 0.618 retracementGoing to short gj at .618 retracement after a confirmation of reversal then going to tp at 1.27 level at 138.260 for potential 125 pips
GBPJPY re-entry short I locked my previous profit and re-entered at the 0.764 retracement level at 139.200 looking to ride until 1.27 extention at 138.460 level
Bearish action on UJ!Earlier this evening we had a strong bearish rejection from the 50% FIB level from the last leg, I believe this will begin our third leg to the 111.237 area. With JPY news this evening and USD news tomorrow morning, it should be an interesting third leg!
Once this third leg is completed, look for a bullish run back up! My suggestion (if you aren't already in this short) would be to wait until it completes the third leg to go long :D
Happy trading!
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CADJPY Possible Harmonic Move? I Haven't traded this pair but need to practise my Tekkers so thought id give this pair a go, from top down Monthly, Weekly, Daily levels and see what I could see and practise my strategy
First thing that stood out was we have tested the Monthly level at 88.882 which seems to have been a strong area of resistance in the past.
I then see we have a 2618, it went more to the 786 level but still a strong sign that we could see a trend continuation to some lower levels, so where do I think based on what I can see and whats happened?
Looking at a fib inversion and extension we have a couple of 1.27 levels line up, also looking a the most recent impulse leg up on the daily/weekly we have the 786 level come in as well, look left and this does fall in line with some previous structure as well
This move down would also be a equal measured move to the last impulse leg down.
will see how this plays out, always good to exercise that idea muscle
