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Fibonacchi

[BTCUSD]Bitcoin price plunged after reaching Fibonacci number 8Bitcoin price plunge after reaching 58000 USD clearly relates with Fibonacci numbers again. This time, the number is “8”. The chart below is BTCUSD weekly chart. Drawing Fibonacci retracement from Mar,2020 which is the beginning of this long upward trend, it clearly shows that price plunged after reaching the level “8”. Though it is not Fibonacci ratio, “8” is a Fibonacci number which frequently functions as support/resistance lines. It also shows that the big price drop occurred in Jan, 2021 happened around the level”5”, which is also a Fibonacci number. The next Fibonacci number after 5 & 8 is “13” where the price will be around 90,000 USD. Although nobody knows if Bitcoin price can go that high, the number “13” is considered an unlucky number in some countries and it suggests that the price might drop again at that level. With respect to Fibonacci, it is not only the ratio, but also Fibonacci numbers are indicated as support/resistance.
BYBIT:BTCUSD.P
by FX365_Thailand
2
Why I Love Harmonic Patterns - ETHUSD In just a month, in just one trade, I have made about 30 pips per ETH token and this was not an accident. I knew with almost 90% certainty that this was going to happen and it did happen. Huge earnings for a person who had the trading psychology of making 20 - 30 pips per day at high leverage. The best thing about this being the confidence that harmonic patterns provided me in executing the trade. It kept me patient for a month. I feel really grateful to all the people who contributed to developing this system. Just taking the principle of mathematics of chaos applicable to the chaotic universe and applying it to the chaos of financial markets. And it has not gone wrong since I have used this system. The timing may have been wrong but never the price reversals. I used to make everything complicated by applying, momentum indicators, drawing lines - horizontal, vertical, inclined, use confluence indicators, ichimoku, heikenashi, read economic news, then look at volume and price action and then look for confirmation with other traders and signals. And the end result was just over 50% of the trades being in the right direction. This system has simplified my trading style - if you look at the ideas I published - it's neat and clean - no clutter and no-nonsense, just pure insight. I am grateful to this method and as a thanksgiving will publish all my trading positions in forex, commodities, and crypto here so that this may inspire other traders in the community. Also planning to make videos of the basics and basis of harmonic pattern trading... So wish me luck...
BITSTAMP:ETHUSD
by primalkarma
2
USDJPY Gartley - Bearish - DailyA perfect Bearish Gartley is setting up on the USDJPY. Price turned at 0.618 XA @ 107.5 If the retracement continues, which is very unlikely, it may extend till 0.786 XA @ 108.363. Then it is a Butterfly. Now, in a Gartley, AB retraces to 0.618 - Perfect Gartley. AB retraces to 0.707, 0.786 - Still a Gartley but not perfect. BC projects till 1.618 @ D signaling completion at 108.695. How to Trade: Case 1: I'm a day trader, don't care about Gartleys. More interested in Fibonacci retracements and projections. (Risk Tolerant) Trade 1: Leg BC Open short at 106.5 to 105.6 - 90 pips Stoploss @ 107.6 Trade 2: Leg CD Watch price action: If the price reverses at 0.618 open buys at 106. If the price reverses at 0.707 open buys at 0.618 If the price reverses at 0.786 open buys at 0.707 TP @ 108.36 - Pips - 250 on average Trade 3: Check PRZ and Price action. Completion of AB = CD BC projection @ 1.618 XA retracement till 0.786 Another 200 pips confirmed. Case 2: I love Harmonic patterns and the Mathematics involved in randomness. (Risk-Averse) Execute Trade 2 and Trade 3 Profit potential - 300 - 400 pips Wait - about a week. Case 3: Lifes too complicated and I hate taking risks.(Rookie) Follow this idea. Will update trading positions in real-time.
by primalkarma
Bullish Butterfly on the EURJPYA very longterm bullish butterfly is complete on the EURJPY daily chart. The Potential Reversal Zone is mentioned clearly on the chart. The price tested the zone and reversed at the end of last week. Unfortunately, couldn't open any position as I was busy moving houses. However, if the price tests the PRZ again, will be opening a long position. Exactly 3 years ago, in Sep-Oct 2016, the price was in the same area. It played out like this ... So, the opportunity is huuuuuge... But will only open if the price is back to 116.48. All the Best... Make a good decision and earn loads of PIPS...
Long
by primalkarma
Butterfly on USDCAD Completed - UpdateAfter a grueling wait, the USDCAD butterfly is almost complete. Price testing reversal zone. PRZ clearly mentioned in the chart. Make sure to open the trade on the reversal from PRZ. Not while it is approaching the PRZ. Some historical reversal points are marked with green lines for better judgment. Stoploss @ 1.3375. Major support down at 1.3180... Hopefully, the price will reach there. So make judgments on entry and exit carefully...
Short
by primalkarma
3
BITCOIN-Bulls Have Everything Under Control. Relax! EmotionsD4rkEnergY is back, and he is more ready than ever to bring you this update on Bitcoin. Did you see the latest calls? First the brake through historical important 11,600 USD, and the Long to just under 14,000 USD, for hereafter giving the Stop Hunt Warning. And a few hours later, we got a 2,000 USD Stop Hunt.... Relax... Lets talk Emotions When I wake up, and I see BTC is at 13,000 USD, I also feel Fear of Missing Out (FOMO). My heart starts instant to beat faster, I can feel a rush in my body and when I then go into TradingView or Twitter, and see that everyone is talking about 20% gains everywhere, and I see, that people are panic buying, I also panic, and I want to buy. When I suddenly see huge long red candles, and a 2,000 USD stop loss, I also get anxious, I start to get clammy hands, I start to sweat, and suddenly everyone is starting to panic sell, I also panic, and I want to sell. So what is happening? Without going into too many details, when we see someting, our brain starts to interprete the event, which then sends signals to our sympathetic nervous system, which is the reason why we get a physical reaction. Somebody also knows this as the fight flight response. Why Trading is Hard In daily life it can be a good thing to listen to your feelings, and act on them. But not when it comes to trading (usually). The reason why trading is hard, is because, you often have to do something that is CONTRARY to your feelings to win. So when events like I have described for you above occurs, most people have a hard time to control their actions, and act on their feelings AND being consitstent with it. And suddenly within miniutes you might already have entered and exited a couple of trades and lost. The point is here, that we are NOT trying to change our feeling, but we are trying to change your actions. Solutions Things like a strategy, money- and a risk mangement all contributes to a more healthy mindset, which help you to not act on your emotions. If you want to take it to the next level, which I have done, you can do mindfullness and meditation exercises, which have scientific evidence that it helps on stress reduction and in general the para sympathetic nervous system, which is the response that go in and regulate your nervous system. D4 Loves You <3 Please give a LIKE, and I will go more into detail about the current BTC-situation! Thanks in advance.
BITMEX:BTCUSD.PLong
by D4rkEnergY
22
BTCUSD How missing instruments can help you solve the puzzle. Greetings fellow traders, this graph looks more like contemporary art, but it has meaning and hopefully some new information for you, so bear with me =). I've been doing charts for myself for quite a few years, but haven't published anything. I've noticed that not all instruments on TV are available (which should be). For example, Fibonacci spiral is awesome tool that shows points of pressure or support for the price. The problem is only right handed spirals are available on TV. They can show downward pressure points and nothing else. Left handed spirals are not available. I've used transparencies to draw a mirrored spiral, and added points of support for left handed spirals - its vertical lines put throughout year 2018. As you can see, nearly all lines correspond to green weekly candles. This is my first idea published, hope that you find it useful and give it a like, and maybe tradingview someday will even add this instrument.
BITSTAMP:BTCUSD
by airatru
2