Get started

Fibextensions

CRLBF Key Resistance | Trend Reversal? Hello Traders! Today’s chart update will be on CRLBF – CRESCO LABS INC, potential trend reversal if local resistance is broken. Price is building up near resistance, is a break imminent? Points to consider, - Trend bearish, attempting a higher low - Support provided by the EMA’s - Local resistance being tested - Stochastics projected upwards - RSI respecting support line - Bear volume decreasing - VPVR spikes in volume, confluence with Fibonacci Retracement and Extension levels. CRLBF right now is attempting to break local resistance, a key level in the trend, when if broken will confirm a trend reversal as this will put in a local higher low. Support is currently being provided by the EMA’s, there has been a bull cross, price is holding near resistance (build up), this signals strong buy pressure which increases the probability of a breakout. If a breakout was to come to fruition, the technical target will be at structural resistance; this area is of heavy confluence as it is a key technical level. We have the Fibonacci retracement, .50 level; in confluence with the Fibonacci extension level 1.414. A test up to and retracement from structural resistance will put in a healthy higher low for the overall trend. The stochastics is currently projecting upwards; momentum is stored for a breakout. However a rejection from current area will have the stochastics in favour of the bears due to more downside room. The RSI is respecting its trend line, needs to hold for a breakout to come to fruition, it is currently trading in neutral territory, we are not in extreme overbought/sold regions as of yet. Bear volume is visible decreasing, we can see strong bull volume in current level, this signals that buying pressure is greater than selling pressure; bulls have a greater probability of breaking out from here. The VPVR is quite interesting, its cluster of transactions increases near structural resistance. This level is a very good technical target for CRLBF, due to confluences from the Fibonacci Retracement Level .50 and the Fibonacci Extension level 1.414. In other words the more technical confluences within an area, the more significant that area will be once tested. Overall, IMO, CRLBF is probable to reach its technical target due to strong bull volume near resistance. This will allow the stock to put in a higher low, changing the overall market structure… What are your thoughts? Please leave a like and comment, And remember, “Trade What’s Happening…Not What You Think Is Gonna Happen.” – Doug Gregory
OTC:CRLBFLong
by AzizKhanZamani
QQQ - Fib Analysis - Targets ReachedQuick one on QQQ today, as you can see we are a hair away from the 1.272 fib projection ($199.42) from the prior move up (beginning in 2008 at the lows to the swing high/ low in 2015). Will this act as resistance? I would think so, we may have a few more positive days, but these fib levels typically act as quite substantial resistance, this is ignoring the clear rising wedge that is present also, which unto itself would be reason to begin to think about hedging. Targets: Personally i would like to see a continued push higher on high volume above this level, whereby it may act as support rather than resistance, but given overall market conditions, barring substantial market-driving news, i do not see this as a likely outcome. I favor a fall to between the $185 - $175 level, possibly as low as $170 near-term, based upon fib retracement levels from the swing low in December 2018 to the current highs. Only time will tell, however my internal metrics are beginning to signal caution, as a result i would also suggest investors and traders alike begin to close their winners, take profits off the table and wind down some of their exposure, at least until these patterns resolve, one way or the other. The last time my metrics began to signal a switch to risk off, savvy traders were able to pocket some great gains and avoid some nasty losses. ("Time to Hedge SPY" Article)
NASDAQ:QQQShort
by Profit_Link
HUGE WINDOW ON OIL!!! WILL IT CLOSE? BULL TRAP OPPORTUNITY-Over the Weekend we got fundamental news that skyrocketed the Oil to the Highs of $63 -Couple of hours ago, news came out that Saudi oil output will return sooner than normal What does that mean for us? -if we didn't get that recent news there was a good chance oil would have continued to rally without any major retraces due to oil shortages -with the news update expectations have now changed maybe we rally but not as high as we thought therefore a retrace is now likely **NOTE** I have always been taught that whenever a window or gap is opened in the market ....sooner rather than later the market will try and close the window/gap. For those who don't know... It is because so much money came in that price soared without any fills so closing the gap will fill remaining orders and price should continue in the same direction. Keyword should. Beware not all the time. What am I looking at... - the news candle broke the ema which lets me know the trend up is in danger and bulls profited and bears came in --doing a fib of that move (yellow fib) confirmation is that price bounced hard off the .50 -if you notice on the chart I have marked the last chance bulls who are protecting the open window support zone which sometimes is used as support as you can see from the inital bounce up to 60.70 area -the fact that bulls have tried 3 times pushing price up and getting weaker every time tells me that are about to get trapped which will provide momentum to close the window - Below Im proving the H4 WTI OIL chart that doesn't even show a gap so unaware bulls don't even see whats happening -Also currently OIL has been in a roughly $10 dollar range from $50.50 - $61 - the news extended us to the 1.27 which if we are still range bound should push us back to the .50fib which coincidentally is RIGHT AROUND THE WINDOW CLOSE!!! It also doesn't hurt that macd and stoch is coming down which is bad news for the bulls.. As the better trade would have been from the .50fib on this news move around 60.70 but I caught it late so there goes a beautiful low R:R trade. But we are hunters we set the traps and go eat. Right now going for a momentum trade taking out the weak bears and having them run for cover. Im entering on any retraces here with stops above previous to last H4 candle 60.50 SL aiming for 56.40 TP1 and 55 TP2... I don't always know what Im doing but when I do.. I'm pretty amazing! Happy Hunting Happy Trapping BooBii Make sure to like... comment ... and subscribe Any questions feel free to ask... For what I don't know... I just don't know... But what I do know I'll gladly share...
NYMEX:CL1!Short
by rickyboobii
USDCAD short- swing tradeI am looking to enter short on USDCAD once we see a break of the 4H uptrend. On weekly we can see price making an impulse move down, followed by a retracement tapping my order block where my ideal entry would have been. However when this TL is broken I will be looking to short and hold for a couple weeks. First target being the previous swing low @1.3020 (175pips), TP 2 the 1.27 fib extension @1.2905 (285pips) and TP3 the 1.618 fib extension @ 1.2760 (430pips). Last weeks close was a massive bearish doji and DXY looking to weaken, this looks like a tidy trade.
Short
by andrewlickley
1
EURAUD shortI will be waiting for a break and retest of my boxed zone and a 4H confirmation candle before entering short to around 1.5800. II must wait for a break and retest as price is currently at 1.27 fib extension so price could still reverse from here. However confluence for EURAUD start with a strong bearish close on weekly showing momentum for the bears swell as price breaking through both EMAS. On daily both my 20ema and 50ema have crossed showing potential for more bearish movement. My target being the 1.618 fib extension where I will be looking for longs on corrective wave 4 up to around 1.600. My trade should look something like this: SELL EURAUD ~@ 1.5910 SL @ 1.5955 (-45) TP @ 1.5780 (130) R:R = 2.9 After this move I will be looking for longs but I will post this when the time comes, and if price plays out how I hope it does...
Short
by andrewlickley
XRP >> is the 4.618 fib extension target possible given history?Hi everyone, Enjoy this monthly chart. We're mainly looking at prior fib levels and extensions. XRP on the monthly chart certainly likes its fib extensions. Look at the Spring 2017 bull rally, hot the monthly candles hit the 1.618, 2.618 and eventualy the 4.618 to a tee! Let's see if history rhymes and we see $XRP hit those fib extensions again on the monthly chart this year! Nothing is guaranteed of course. Just an idea to ponder on. Cheers, Leb Crypto
POLONIEX:XRPUSDLong
by Leb_Crypto
USDCHF long, wave 4.I believe we are forming an Elliot wave and will be looking for buys on USDCHF at around 0.9700. I will be placing an order and expecting a snipe trade straight into profit. If I was to be more conservative I would wait for a bullish candle on 4H. My analysis predicts we will have a corrective wave from 0.9700 to my highlighted zone between 0.5 and 0.618 fib retracements. Trade will look something like this: USDCHF BUY LIMIT @ 0.9700 SL @ 0.9640 (60) TP1 @ 0.9860 (160) TP2 @ 0.9900 (200)
Long
by andrewlickley
The bearish scenario and the bearish similaritiesThe bearish scenario and bearish similarities: Most are long and expecting a move to $5k so it's always a good idea to cover the contrarian view and see if we can pick holes in either argument. We retraced to around $3900 (not too far from the $3930 retracement target in my previous post) but it looks like we'll be retesting this uptrend support soon. Looking at the weekly chart, it seems that after being rejected from EMA200, bitcoin might just be printing another triangle, similar to the one printed towards the end of 2018. Then we were sandwiched between EMA50 and EMA100 and now we have the same dilemma between EMA200 and SMA200. We also have major trend line resistance from our ATH which we should be approaching sometime in April if this triangle resistance holds, otherwise sometime later in March if our triangle resistance lies a bit higher. In 2018, we had a similar triangle setup starting from 30 April 2018. The downside target, based on the height of the triangle, was 42% from breakout and ended up reaching 43.5% when we dropped from $6150 to $3175 before retracing. Interestingly, the 138.2 - 161.8 fib extension of the drop on 30 April 2018 (which forms the height of the triangle), is also roughly the channel range which we have been following since early December 2018 ($3195 - $4180). If we have a repeat breakdown from the current triangle, we would have broken below our weekly SMA200 support and a close below it would be a first for bitcoin. I suspect we will retest SMA200 after breaking down and the drop will happen from that ATH trendline resistance. Target based on the height of the triangle is 29% and the same 138.2 - 161.8 fib extension would provide a new channel range between $2330 and $2630, potentially until we meet that trend resistance again, where we either breakout or breakdown again sometime in August 2019. We have hidden bearish divergence on stochrsi (which is also venturing into oversold territory), and by comparing volume profiles, we can see that volume has been gradually decreasing, similar to 2018 just before the drop. This is just an alternative scenario seeing as we might still be in wave 4, but we'll know as we approach that triangle apex. Good luck and happy trading! The wave 4 scenario to $5k first (if this isn't wave 4, we might still be completing wave 3):
BITSTAMP:BTCUSDShort
by Corn_Reaper
5
USDCAD (W,X,Y) Corrective Pattern Going long into a short.I was able to spot a W,X,Y pattern early on USD/CAD, Right now it's finishing off the (b) correction on the (X) wave. Im hoping for it to retrace to the .618 as I find the X wave to commonly retraces to that spot. After the X wave is complete, I'm hoping for the Y wave to finish up on the major trend line holding as support starting from September 2017. The Y wave retracing to the trend line also fits in with the fact that it is the same length as the W wave. This would also align with the movement of Eur/Cad. If you look at the analysis I posted for eur/cad right now its a ahead of usd/cad in terms of pattern but it has the same movements. Meaning that Eur/cad is finishing the A correction on the X wave, when it moves up the the B correction, USD/cad will be moving up to finish the X wave.
Short
by CrisBarr96
BTC DOWNTREND AND BOTTOMPlease note that this is my first post on TradingView so don't go all in based on this. Always Mind Your Trades and make sure to make your own analysis before investing your hard earned money. 1. But here is what we can notice on BITFINEX:BTCUSD : *Multiple rejection from the 50 MA 7 days in a row *Multiple rejection from blue descending trendline *RSI resistance at the 55 region since 20 September 2018 *Crossdown incoming on the StochRSI on the Daily *Price break on 8 feb on top Bollinger band indicating potential reversal (add the Bollinger bands indicator if you to visualise that move) 2. Based on the above, the previous move from 6 to 10 jan 2018 and the "trend based fib extention tool" I expect the price to: *Initially retrace to the 61.8 then 78.6 (previous bottom level in the $3200 region) >>>Usually when using the "trend based fib extention tool" it retrace to 100% which will coincide with $2972. If you trade on Binance these price levels will be slightly lower as this is based on Bitfinex chart. Again, make sure to Mind Your Trades and make sure to make your own analysis before investing your hard earned money. I am not a financial advisor and this is just my view on the current market. Good luck to you all.
BITFINEX:BTCUSDShort
by MindYourTrades
2