GOLD - Long Positions coming into playLonging FX_IDC:XAUUSD based on a fib pullback to 618 level. Looking at long positions, with entry at 1295 till 1345. Will be analysing price action before any entries.
Expecting this trade to go up to 1.414 or even 1.618 on fib extension which will allow us to bag a nice 500 pips +
Happy Trading.
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.
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!
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
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. :)
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!