xauusd made a dropmarking this time with the auto fibo that we have made, and is in the 50 zone based on auto fibo, manual withdrawal is in the golden ratio, meaning that the opportunity to decline will still occur until the middle of next week.
Fibonaccianalysis
fib levels; unwritten ruleSometimes you can predict market moves by price and S-D logic. Gold consolidated at 2500$, that works as a natural fib level? ie if market (SD dynamics) is strong enough -> either 3000$ is possible or 2500$ stays the limit. Bitcoin around 75k figures out which side is stronger --> does 100k make sense or 50k is greater. Which side market leans towards most - wins. ♟️
Genus Power Infra: Bullish Breakout – Buy now for higher targets🔍 Technical Analysis: NSE:GENUSPOWER (NSE: GENUSPOWER)
1️⃣ Overview:
📈 Current Market Price (CMP): ₹430.15 (+2.26%)
🗓️ Date & Time: As of 15:25 (UTC+5:30)
🕹️ Chart Analysis: Daily (1D)
2️⃣ Technical Indicators Overview:
📊 Moving Averages:
🟢 50-Day EMA: ₹399.89, currently acting as a support zone.
🔵 200-Day EMA: ₹332.71, indicating the longer-term trend remains positive.
📦 Volume Profile: Strong demand visible between ₹360-₹380, suggesting robust buying interest at lower levels.
📈 MACD: Bullish crossover with the MACD line above the signal line, implying momentum is still positive.
MACD Line: 3.76
Signal Line: 1.04
Histogram: 📈 Positive, indicating rising momentum.
📉 Williams %R (14): At -5.59, signaling overbought conditions, which might result in a short-term pullback.
💹 Stochastic RSI (14, 3): At 100, indicating strong bullish momentum, though caution is advised as overbought zones can precede minor corrections.
🟣 Parabolic SAR: Positioned below the price, supporting the ongoing uptrend.
3️⃣ Fibonacci Retracement Levels:
The stock is retracing from the swing high of ₹451.55 to the swing low of ₹351.05.
📐 38.2% Retracement: ₹399.30 – Strong support.
📐 50% Retracement: ₹414.05 – Intermediate resistance.
📐 61.8% Retracement: ₹428.80 – Currently breached, signaling bullish strength.
📐 78.6% Retracement: ₹442.80 – Next resistance level to watch .
4️⃣ Rationale for Buy:
🚀 Breakout above 61.8% Fibonacci Level: The breach above ₹428.80 indicates a potential continuation of the upward move.
🔥 Bullish Momentum: MACD crossover, Stochastic RSI in overbought territory, and Parabolic SAR below the price all point to a continuation of the bullish trend.
📈 Volume Surge: Increased volume activity supports the bullish move, suggesting robust buying interest.
📦 Demand Zone: The significant demand between ₹360-₹380 acts as a strong base, providing a good risk-reward opportunity for entry.
5️⃣ Recommendation:
🔔 Action: Buy
🎯 Target 1: ₹442.80 (78.6% Fibonacci Level)
🎯 Target 2: ₹451.55 (Recent Swing High)
🛑 Stop Loss: ₹414.05 (50% Fibonacci Level) to protect against downside risk.
6️⃣ Risk Management:
📥 Entry Strategy: Consider entering near the current price or on minor pullbacks towards the 61.8% retracement level (₹428.80).
⚖️ Risk-to-Reward Ratio: The trade setup offers a favorable risk-to-reward ratio of at least 1:2 based on defined targets and stop-loss levels.
⚠️ Disclaimer:
This analysis is based on technical indicators and market patterns and is intended for educational purposes. Market conditions may change, and this is not investment advice. Please conduct your own research or consult a financial advisor before making trading decisions.
#GenusPower 🚀 #TechnicalAnalysis 📊 #StockMarket 📈 #FibonacciLevels 📐 #SwingTrading 💹 #MACD 🔵 #StochasticRSI 💠 #VolumeProfile 📦 #BuyRecommendation 🛒 #IndianStocks 🇮🇳 #NSE 📉 #FinogentSolutions 💼
EUR/USD Finally Finds Some Support, But Can it Build a Bounce?EUR/USD Talking Points
The strength from Q3 has been mostly erased so far in Q4, with a fast sell-off developing in EUR/USD.
In late-September the pair continued to grind away at the 1.1200 handle but not even a month later the pair has dropped by more than four big figures.
Support showed up at the 1.0761 level looked at on Tuesday. The big question now is whether that can lead to some profit taking from sellers, which could build a bounce and that can remain of interest for bears looking for lower-highs.
EUR/USD has now traded lower for 15 of the past 20 days. An amazing trend by any stretch but perhaps even more so when compared to the strength that showed in the pair during the first two months of Q3. While that prior bullish trend put in a month of grind at the 1.1200 level, eventually failing, the bear move that’s come in response has been fast and heavy. There’s been only a minimum of pullback so far and any excuse for sellers to continue pushing has so far contributed to continuation.
Last Friday brought a bit of bounce. That went along with a pullback in the USD from the 200-day moving average. But support soon showed at a key zone in DXY and bulls were off to the races (and bears in EUR/USD) after this week’s open.
In EUR/USD, that resistance earlier in the week played-in right off the underside of the 200-day moving average.
At this point the challenge is chasing an oversold trend as RSI on the daily remains in oversold territory on EUR/USD. There has been a bounce showing thus far at Tuesday's level looked around 1.0761. That price is the 38.2% Fibonacci retracement of last year’s sell-off, and its confluent with a trendline originating from last year’s low.
EUR/USD Longer-Term
Just as I was saying in September when strength was all the range, EUR/USD remains in a range that’s been in-play since last year’s open. There have certainly been some clean shorter-term trends in the confines of that ranging backdrop, and we’ve made a fast move towards the support side of that range but if we do see sellers continuing to push, those values could soon come into play.
The current 2024 low plots around the 1.0611 Fibonacci level, which is the 38.2% retracement of the 2021-2022 major move. On the below weekly chart, I’ve linked that level to the shorter-term Fibonacci level at 1.0643 to create the next support zone, down.
Below that, it’s the 1.0500 level that put up considerable fight for about a month before leading to a turn a year ago.
--- written by James Stanley, Senior Strategist
NASDAQ: Push to 22K or Drop to 19K? Key Levels and Profit Zones Evening Traders
NASDAQ is hanging on to the 20,256 level, but if we break lower, we could be looking at a slide down to the 20,000-19,200 range. On the bright side, there’s a ton of support that could push us up to 21-22K. If that happens, it’s a great spot to take some profit before we hit major resistance—or worse, a deep correction.
Let’s dive into the key levels to watch and where to take action before things get bumpy. Will NASDAQ keep climbing, or are we in for a pullback?
If this gave you some insights (or at least made you think twice about your next move), give it a like, drop your thoughts in the comments, and hit follow for more updates. Your support keeps me going
Happy trading
Mindbloome Trader
Analysis-NAS100-H4_October-2024On Monday, an interesting trading opportunity arose.
Unfortunately, I was on a plane and couldn’t act, but it also would have hit the target.
I remain active and prepared for upcoming trades.
Final-UPDATE_EURJPY-H4_October-2024Yesterday's trade was successful.
I’m now patiently waiting for the next opportunity to present itself, keeping an eye on potential setups.
Analysis-USDJPY-H4_September-2024In my view, in the next few days or even hours, we will see USDJPY enter my supply zone and then start a continuation of the main trend.
If the trade enters, the target would be the marked 125% level.
UPDATE_Analysis-NAS100-H4_September-2024The confirmation for the previous analysis has not arrived.
In fact, there has just been a change in directionality, which made me think about this entry.
I apologize if I didn't publish the analysis in time for a potential trade.
Analysis-NAS100-H4_September-2024In my vision, the next week we see the price return in this supply zone.
For then continue the drop and returning to the psychological zone of 20,000$.
The final target would be marked by the 125.00% on screen.
Fibonacci Retracement ExplainedWhat Are Fibonacci Retracement Levels?
In simple terms, Fibonacci Retracement Levels are horizontal lines on a chart that represent price levels. These price levels help identify where support or resistance may likely occur on a chart.
Each retracement level corresponds to a specific percentage, indicating how much of a pullback has taken place from a previous high or low. These percentages are derived from the Fibonacci sequence and include 23.6%, 38.2%, 61.8%, and 78.6%. Although not an official Fibonacci ratio, the 50% level is also commonly used.
This indicator is useful because it can be drawn between a high and a low price point, creating levels that indicate potential retracement areas between those two prices.
The basic Fibonacci Retracement amongst many trading platforms would normally look like this:
While this is okay, I would recommend changing the settings to my suggested format to improve clarity and comprehension. The revised version would look like this:
To copy this, the revised Fibonacci Retracement Settings are bellow:
By doing this, it shows you the “Golden Zone.” This spot is considered one of the most important areas because price often pulls back into this zone right before “extending” in a bullish pattern.
>>>>>NERDY INFO AHEAD<<<<<
Calculating Fibonacci Retracement Levels
The origin of the Fibonacci numbers is fascinating. They are based on something called the Golden Ratio.
This is a sequence of numbers starting with zero and one. Then, keep adding the prior two numbers to get the third number. This will eventually produce a number string looking like this:
• 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987...with the string continuing indefinitely.
Fibonacci retracement levels are derived from the Fibonacci number sequence. As the sequence progresses, dividing one number by the next number yields 0.618, or 61.8% (233 divided by 377 gives you 0.618037.
Divide a number by the second number to its right; the result is 0.382 or 38.2% (233 divided by 610 gives you 0.381967.
All these ratios, apart from 50% (which is not officially part of the Fibonacci sequence), are calculated based on relationships within this number sequence.
The golden ratio can be found in various places in nature as well. This includes spiral patterns of seashells (like nautilus shells), the arrangement of leaves on a plant stem, the petals of certain flowers, and the structure of pinecones; it's also often observed in art and architecture, such as in the proportions of the Mona Lisa and the Parthenon, where artists intentionally incorporated it for aesthetic appeal.
Now, as you can tell, the Fibonacci isn’t just some lines and numbers someone made up. It’s in everything you encounter. It’s on charts. It’s in nature. It’s in geometry. It’s even in HUMAN DNA.
Fibonacci Retracements vs. Fibonacci Extensions
Remember when I said, “price often pulls back into this zone right before extending in a bullish pattern.” ???
That’s because Fibonacci Retracement, sometimes confused with Fibonacci Extension, is the act of price level pulling back to the Golden Zone. The Fibonacci Extension is when price level continues to move in a bullish pattern after pulling back to the Golden Zone.
For example, if a stock goes from $10 to $20, then back to $13. The move from $20 to $13 is the retracement. If the price starts rallying again and goes to $30, that is the extension.
Limitations of Using Fibonacci Retracement Levels
While the retracement levels suggest potential areas for support or resistance, there’s no guarantee that the price will reverse to these levels. This is why traders often look for additional confirmation signals such as price action and patterns. A double bottom in this Golden Zone coupled with an RSI divergence is a very good indication the price will move after entering the Golden Zone.
!!!Fun Fact!!!
Fibonacci retracement levels were named after Italian mathematician Leonardo Pisano Bigollo, famously known as Leonardo Fibonacci. However, Fibonacci did not create the Fibonacci sequence. Instead, Fibonacci introduced these numbers to western Europe after learning about them from Indian merchants. Some scholars suggest Fibonacci retracement levels were formulated in ancient India between 700 BCE and 100 AD, while others estimate between 480-410 BCE.2
Cheers everyone!!! Happy Trading 😊
ALL ABOUT FIBONACCIFibonacci retracement levels serve as indispensable tools for evaluating retracement potential and identifying targets
This analytical scheme is most effective in market trends. In a market with an upward trend, the traders' goal is to determine the correction potential and strategically identify entry points for long positions. Conversely, in a downtrend, the focus shifts to evaluating correction potentials and tactically identifying entry points for short positions.
By utilizing Fibonacci levels with precision and insight, traders can navigate market dynamics with greater clarity and strategic foresight.
Operating rules:
●Identify the trend and work according to it
●To determine the correction potential for uptrend use the grid below up.
●To determine the correction potential for downtrend use a top-down grid.
●Find Swing High and Swing Low for correct using the tool.
1. For an uptrend, the Fibonacci grid extends from HL to HH.
After breaking the downtrend from LL to HH.
2. For a downtrend, the Fibonacci grid extends from LH to LL.
After breaking the uptrend from HH to LL.
Settings for corrective movements:
0.5 - fair price (equilibrium).
0.62; 0.705; 0.79 - OTE zone (optimal entry into a deal).
Unlike the standard values, this is a modified version with the highest mathematical expectation of price reversal.
To open a position, we are always interested in the price behavior above or below the 0.5 value.
The smart money will always look to buy at a discount and sell at a premium.
Therefore, to open a short position we always look at the price above 0.5, which is considered a premium. And to open long positions, we look at the behavior of prices below 0.5, which is considered discount prices.
The OTE zone is an extended grid that is always in the premium market when you are looking for a short position, or in the discount market when you are looking for a long position.
These levels act as an area for the optimal entry point.
Correction of the upward impulse.
Fibonacci lines themselves do not act as support or resistance levels. It is not relevant to trade only on the basis of them. The price turns from specific areas that are displayed on the chart.
Correction of the upward impulse.
The price may go beyond OTE, this does not negate the relevance of the setup, HL is still being formed in the discount market.
Correction of the upward impulse.
Not in all cases, the price corrects to the OTE zone: when it reaches the support zone at the 50% level (equilibrium) or slightly below it, a reversal may already begin, because this moment already implies the start of buying or selling with smart money.
Downward impulse correction.
Make it a rule to open positions only after a correction in the premium or discount market, and skip other opportunities.
Take profit according to Fibonacci
In order to determine where you will take profits, you can use negative values.
Settings for setting takes:
-0.27 – take 1
-0.62 – take 2
-1 – take 3 or closing the position
-1.5 / -2 – take 4
Fibonacci take
Negative Fibonacci values can be used effectively on every trade, but try to prioritize the chart to identify more precise zones where price may reverse.
EURUSD Momentum Break: Trade Setup and Alternative ScenarioBased on this morning’s analysis, we’ve seen a break above the momentum high, signalling that buyers remain confident the EURUSD isn’t too overvalued.
As a straightforward principle, we trade what we observe. Buy above the momentum high, aiming for the next decision point at 1.1140 (H4 Structural Point).
Stop Loss:
What gets you in, gets you out!
Technically, if the price drops back below the momentum high (1.10899), it will be a negative signal for buyers. Therefore, we’ll set a conservative stop at 1.1085.
Profit Target:
1.1134 (Fibonacci Target)
1.1140 (Structural Target)
Alternative Scenario:
If the price breaks below 1.1085, buying is no longer advised. We will reverse the position for a trend reset trade towards the Fibonacci buy zone range of .
Happy Trading!
BTC at some support levelsLets look at BTC. Some people have been saying that its getting ready to take off again, so I wanted to do my own analysis.
I've got three indicators I'm using here.
- Wedges/channels (the thin green lines)
- Fibs - the gold colored fib levels
- Wick Strength - the oscilalator at the bottom
First, Wedges.
We can see that price is at the bottom of a wedge/channel. Its been pretty consistent on the plotted wedges that breakouts have been significant. However with the support of the Wick Strength as well as support of the 0.382 fib level, it looks like we might return to the top of the channel rather than crashing through the bottom.
Next, Fibs.
Fibonacci are one of my favorite technicals and popular for a reason. Look at all the times price has bounced right off a near-exact fib level! Recently BTC hit the 0.5 with a STRONG support. And here we are again at the 0.382. Looking left on this line we can see multiple wax and wick bottoms rejecting at this price point in recent months.
Lastly, Wick Strength.
I'm still learning this one as its new, but here's what I've seen. In up markets, Wick Strength is low, because there is constant downward pressure from all the bears. So the top wicks are long, and the bottom wick are short. (Indicating that bulls are stronger since wax is bullish, but bears still have a voice and top wicks are longer than bottom). In down markets, its the opposite, and the Wick Score goes up due to longer bottom wicks by the bulls. Here, Wick Strength is relatively high actually, and we're in a flag price action pattern. Looking like Wick Strength will come down as the market takes off bullish again.
Just at thought! We'll see what happens.
What do you think?
NATURAL GAS : ROUNDING BOTTOM CHARTIn 15 min chart shows perfect rounding bottom.
May Take position @185.40 & @ 182
Rest mentioned in chart.
Disclosure: FOR EDUCATIONAL PURPOSE ONLY.
To TRADE First Paper Trade, then take decision ownself
$BIDU | Allocation | Market Exec | Technical Confluences:
- Price is considered at Oversold conditions in the D1, Weekly and Monthly Timeframes
- Taking a Fibonacci Retracement from the beginning to the high of BIDU, price action is now at the 78% Fibo retracement
- Price levels coincides with a Demand Zone which has been a strong demand zone over many years every time these levels are tested
Fundamental Confluences:
- NASDAQ:BIDU is referred to as the 'Google of China' and has been diversifying it's offering into AI, cloud services and autonomous driving tech.
- Locally, they are up against Tencent and Alibaba in the digital ads, AI and cloud services but on a global scale, Google and Microsoft are there against them
- Being 'Google of China' gives them the brand recognition and giant user-base helping ads revenue
- Financially, they have been reinvesting most of their profits back for R&D and business expansion which for me, is important for Baidu to leave their mark strongly and remain competitive globally.
- Recent earnings showed that they missed Revenue slightly but it's higher than previous Revenue results; EPS has beaten estimates most of the time as well
- However, Baidu has high reliance on the Chinese market and makes them vulnerable to economic downturns or regulatory matters which is the current situation for them now
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NASDAQ:BIDU is a long-term hold for me and considering it's value has dropped, it could be a value play at 9x forward earnings.
I have previously got my first entry into it early August. Prices is still pretty much at the same levels. I will still look to add on more in the Target Zone area and hold onto it for now
Will revisit it again later on but it's still allocation period for me.
If price breaks below 70 then, I may reconsider re-shifting my target buy levels
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Market Cap BTC dominanceMy last idea about BTC dominance played out exactly as expected. Now, many people are worried about their investments in altcoins; all they see are red candles, which is understandable since dominance has been increasing this whole time. Currently, it stands at 57.5%. The final target is 60%, which aligns with the 0.618 Fibonacci level and a major global order block. We also see a weekly MACD divergence.
During the last capitulation, the fear index hit 17, and many people sold their altcoins. However, I noticed significant buying volumes across all crypto market assets. The waves are primed to pump all of these. My global target is 32% dominance.
$GBPCAD | Watchlist | Sell Limit | Technical Confluences:
- Stochastics has entered into Overbought conditions in the Daily and H1 Timeframes
- Price looks like it will target the top of the smaller parallel channel; it coincides with the 50% Fibo Extension levels
- If the 50% Fibo levels break, we may visit the 61% Fibo Extension level; the next range of Interest Zone and the top of the larger Parallel channel
- Gauging the Elliot wave count, GBPCAD is trying to complete Wave 3 move (we will then enter this trade to capture the Wave 4)
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Will be looking to set some Sell Limit orders in the Sell Limit Zone area and Target the 50 - 61% Fibo Retracement levels
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Angel One - Probable 5th Wave.Angel One - Taking Support at Monthly Breakout + Probable 5th Waves (Impulsive)
On Applying Fibonacci Extension 1.618 levels can be target
$DIS | Allocation | Market Exec |Technical Confluences:
- Price action has bounced off the Demand Zone and a Short-Term Trendline
- Price action seems to be strongly supported at these levels for now
- Few Interest Zones above the current price action and will need to see a proper break above that to go above the 100% Fibo Extension
Fundamental Confluences:
- Disney has a strong moat in the entertainment industry, driven by its vast portfolio of iconic brands, intellectual property (IP), and global reach.
- Earnings are recovering with growth potential in the their streaming services via Disney+ and further expansion of Disneyland parks in China
- FCF has not been good recently due to debt repayment, park expansions and streaming content investments which will target further revenue growth
- Development in it's streaming content and reinstatement of dividend announcements should be monitored
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Have allocated this into my portfolio previously and will be looking to hold this for the Long-Term at least to the 150% Fibo extension range.
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NVDA Earnings PlayIt seems like NVDA has finally broken out of a long-falling wedge. The current price is approaching high sell-side liquidity, so I'm assuming a small retest to 110. By then, the buying pressure behind earnings should kick in, and we should be seeing NVDA hit 140 again.
$SOFI | Allocation | Market Exec |Technical Confluences:
- Price action has bounced off a 78% Fibo retracement
- Below the 78% Fibo retracement is also been a Demand Zone which breaking it would like lead to a new all time low
- For price action to move up higher, it needs to break above the Interest Zone (@ 61% Fibo) and also the resistance trendline
- Upon breaking that, it's next resistance would be the Supply Zone area above
Fundamental Confluences:
- SoFi has shown impressive revenue growth but struggled with profitability, posting net losses due to high operating expenses and investments in growth.
- The path to profitability is improving as the company scales and focuses on higher-margin products, but consistent positive earnings have yet to be realized.
- They have historically reported negative FCF but recent quarters have shown improvements. The company’s ability to generate positive FCF will be critical to sustaining its growth without needing to rely on external financing.
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I have previously allocated to NASDAQ:SOFI before as I feel this company is a high-growth potential with promising narrative as explained above.
Will be happy to add if there is again a dip in the price.
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$XAU | Watchlist | Sell Limits |Technical Confluences:
- Stochastics is very close to Overbought conditions in D1 timeframe
- Price is close to the 161% Fibo Extension Line
- Projection using Elliot Wave count is pointing that the price may push up towards the Fibo Extension Line
Fundamental Confluences:
- With ongoing geopolitical tensions between Israel & Iran, there is a pressure for XAU to remain supported
- The reversal carry trade story may have legs to further push XAU up another leg as a safe haven
- With incoming FED cuts, there is potential for a weaker USD coming into September
- The above 3 points are the supporting for a higher XAU price.
- Assuming we hit the Wave 3 projected price, the US election will pose a big risk to the global outlook and may see USD strengthen back during that period. A stronger USD may induce a weaker XAU.
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Will be placing Sell Limit orders and update if the projection comes true.
Remember, DYOR.
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