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Fibextensions

EURJPY looking ready for a break to the upsideThis chart may look a little noisy, but i assure you everything is of relevance. I'm really liking this setup. We have a potential double bottom formed (Highlighted black circle)... This has formed right on the targets of the previous rising wedge (1618 ext targets) The double bottom has divergence across both of the legs, and the neckline (123.4) has been broken. If early week price action can keep its head above this level, I will be looking to carry this pair long.. I still have longs since May, so this could provide the scale in I am after. The targets for the double bottom (if confirmed) are 124 & 124.4. The fact that the MACD shows divergence in LTF's is good. The volume increasing on the break of the neckline makes this setup even stronger.
Editors' picks
Long
by TeePeeFX
4
SILVER touches 382 Fib RetracementFrom the lowest candle close from March to the highest candle close in August, SILVER has just touched the .382 Fib Retracement level. (Yes I know I do it backwards) The previous Fib extensions from the highest wick before the crash to the lowest wick after the crash seem to have held a support and resistance throughout the impulse up, so far. Will be interesting to see if SILVER breaks the .382 heading south to the .5 Still macro bullish, but this pullback feels long and sustained. Q4 will be a very interesting end to a historic year in the markets. Take a selfie and tell your grandkids :)
TVC:SILVER
by NoCreditsLeft
STATUS 4H UGLY DOUBLE BOTTOM LONG TRADE Step #1: Identify two bottoms where the second bottom is at least 5% higher than the first bottom The first step is to identify the correct price structure of the ugly double bottom pattern. Basically, we need two bottoms where the second bottom is higher than the first one. In other words, the price needs to make a higher low. The second bottom also needs to be between 5% and 20% higher than the first bottom. This trading rule will ensure we’re not developing a double bottom pattern. Secondly, it will ensure the downswing leg before forming the second bottom has a proper length. There is one more critical element that needs to be satisfied. This brings us to the second step of our day trading cryptocurrency strategy. Step #2: Bottom 1 needs to develop a “V” shape type bottom The key to this reversal setup is the shape of the first bottom. The bottom 1 price structure needs to be a “V” shaped bottom. The identification guidelines of the V-shaped bottom are quite easy. The price needs to drop in a straight line, and then it reverses and moves up at a slightly steeper slope or at least at the same speed as it fell. The good thing is that we don’t need to spot this reversal pattern on a real live feed as they happen, we can look in hindsight and have the time to validate them. Next, we’re going to outline what key condition needs to be satisfied with our entry strategy and how to buy Status SNT. Step #3: How to buy Status SNT: Buy after we break above the highest point between the two bottoms. The ugly double bottom pattern is confirmed once we break above the highest point between the two bottoms. That’s also the moment when you would want to buy Status SNT. A break above the highest high between the two bottoms will also mark a break in the price structure. Once we break above point B, the price is making a higher high. This, paired with the previous higher low means we can safely assume the market is in the process of establishing a new bullish trend. This reversal setup indicates that catching a falling knife can work, but you need to be patient until all requirements fall into place and only then pull the trigger. This brings us to the next important step we need to establish for our day trading cryptocurrency strategy, which is where to place your protective stop loss. Step #4: Place your protective Stop Loss below the second bottom As we’ve suggested earlier, you can adopt different strategies to manage your risk, but for the purpose of this example, we’re going to highlight one effective way to hide your stop loss. Here is another strategy on how to apply technical analysis step by step. Place your stop loss below the second bottom! Alternatively, you can place your stop loss below the bottom 1, but this requires using a wider SL. Step #5: Take profit at the 1.272 Fibonacci extension level For our exit strategy, we’re going to use the Fibonacci extension toll. You can establish accurate profit targets with the help of the Fibonacci extension tool. We’re going to use the two bottoms and the highest high between the two bottoms as reference points to draw the Fibonacci extension lines. As a day trader, you only need one good trade to succeed in this business. Just imagine how much you can accomplish with one good trade per day. **Note: The above was an example of a BUY trade using the best Status SNT cryptocurrency strategy. Use the same rules for a SELL trade – but in reverse
BINANCE:SNTUSDEducation
by Tradingstrategyguides
TSLA reversal at perfect 300% fib ext may signal market top? Unbelievable how TSLA was rejected precisely at historic monthly/weekly chart chart 300 fib extension (on linear calc, not log scale). Not only are technicians giving more weight to linear fib extension levels (incorrectly I may add) but this could also signal market top? Watch NFLX for clues in coming weeks. MOST IMPORTANT THING IS TO WATCH FED RESERVE LIQUIDITY INJECITONS on the FRED website as that has >99% correlation now. fred.stlouisfed.org
NASDAQ:TSLAShort
by DropDead_Fed
The 350 Daily Simple Moving Average Support TheoryMoving Averages have long interested me. The idea of a dynamic support and resistance level with the ladder up and ladder down effect during new trends has been a fantastic thing to take notice of. That brings us to the 350 Daily Simple Moving Average because it is not something we come across all the time but rather only a few times here and there over the course of many, many years. Looking at the life of the STAMP chart which goes back to 2011 we can count the interactions on two hands. The Major interest here for me is in the approach of the 350 DMA after posting a local Swing High. This has only happened three times with the current one happening now as the 3rd time. What got my attention was the bounce and how sloppy the 350 DMA was acting as Support. The bounces from the 350 are between the 236 and the 382 of the local move while the initial push lower was between at 113 and a 127 extension of the retrace. For the first time - it looks like this. Now things get a little more interesting when we add in the 200 DMA as a bounce level of Resistance... Like This. Again, the 350 DMA Support is Sloppy and by no means a beautiful level but rather a zone and in retrospect, the reversal of a local drop for a decent bounce. The 200 DMA acted as resistance with confluence from the 382 retrace from the 1163 high to the 339 low. This did go on to paint a lower low when this move finished... Once again we see the drive down to the 350 DMA with a fairly sloppy support. From there we get a decent bounce just beyond the 236 retrace from the 19,666 high to the 6427 low. The confluence here again was the resistance provided by the 200 DMA. After the bounce we head south and land between the 113 and the 127 extension from the bounce. Again, like before, this went on to paint a lower low... That brings us to our current approach. I will admit that there is very little history and data to support such a theory but that is why a theory is a theory and not a fact or a rule. Given the 350 DMA interaction, the distance to the 200 DMA and the overwhelming confluence near the 382 fib level that we didn't even get into in this theory but are absolutely out there, I feel this has potential. Maybe not for every trader but possibly just another way to look at current price action and see a reason for further downside as well as a bump in-between. I am also very aware that the 200 DMA will move and that will affect future resistance levels as well as the retrace top, if achieved will effect the 113/127 extension levels. unfortunately, those things can only be planned for after future events take place. So what I did for the extension was give a low side 236 bounce and a separate high side 382 bounce. This will just leave a range of possibilities if this does indeed move in the right direction.
BITSTAMP:BTCUSDLong
by ChingasX
1