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Fibonaccichannels

The Art of FibonacciBitcoin has been on the rise, and I would like to share my Master Fib. This angled fibonacci structure encompasses the entirety of Bitcoin's history and can be used to help discover price action patterns, facilitating future trade decisions. The chart can be useful on both logarithmic and linear price scales. This idea highlights the fib structure on the log scale. This particular fibonacci-based structure utilizes the following levels : 0, 0.214, 0.236, 0.35, 0.382, 0.5, 0.618, 0.65, 0.764, 0.786, and 1, and extends 20 levels above and below 0. The core channel from which the structure is built is established using the following 3 points: These 3 points create the core channel of the master structure: The final version of this chart has been optimized for, and makes use of, the 10 day timeframe. While I personally prefer using this chart on a smaller timeframe for everyday use, the 10 day timeframe was chosen as a suitable balance of factors, including the following: maximizing the amount of bitcoin historical data and fib data displayed maximizing chart clarity at all zoom levels maximizing visibility of price action reactions maximizing published idea usefulness lifespan When viewing the fib structure on alternate timeframes, reactions in price can be seen as high as the monthly timeframe, all the way down to the 1 minute timeframe. Utilizing various timeframes can help display more pronounced, obvious, or acute reactions to fib levels. 1day price action fib reaction (April 2018 - July 2019) 1hour price action fib reaction (April 3/4 2022) 1min price action fib reaction (March 5 2024 - 5 days ago) Even on the 10 day timeframe, reactions can be seen as far back as December 2009... bouncing off the 6.214! There are many such reactions to this fib structure throughout the entire history of bitcoin. What's amazing is that the 3 points used to create the structure are from December 2017 to November 2021! So, let's take a quick look at some of the reactions in price to some of the various fib levels. Doing this will add validity to the effectiveness and usefulness of the fibs. And finally, here's a look at where we are today, on the linear scale, just before the 10day candle close: Now that we have established some validity of the fib structure, we can use it to help us make future trading decisions, particularly when the price of bitcoin approaches, rejects, breaks through, or retests the various levels. Does, and will, bitcoin always react to every level? No. But I think this is one of the best bitcoin fib structures I've seen that encompasses every single displayed candle while maintaining such accuracy and effectiveness. Its influence on the bodies and wicks of past and present candles can be seen. I think it is likely to guide and influence future candles. I estimate that the further above or below that price is from the core channel, the less accurate and influential the levels and angles will be. I also estimate that the further away we are, in time, from the 3 points that build the core channel, the less accurate and influential the levels and angles will be. That being said, we, being humans, only have so many 10 day candles left, so... yeah. *Bonus* Keep zooming into the light (on the chart) Thank you for checking out my idea! I hope that you like it and find it useful. If you do, please give it a boost. And feel free to comment. //Durbtrade
INDEX:BTCUSD
by Durbtrade
5
Invest in Bitcoin: Analyzing Market with Fibonacci PitchforkAre you considering investing in Bitcoin but unsure of the best time to do so? The past few years have seen a bear market for cryptocurrency, but it's important to remember that markets are cyclical and that prices will likely rise again. One of the best tools to analyze market trends and predict future price movements is the Fibonacci Pitchfork. This tool uses trendlines to identify support and resistance levels and can also be used to project future price movements. According to the Fibonacci Pitchfork, we are currently in the bottom territory of the trend for Bitcoin, which suggests that now may be the perfect time to invest. There is potential for significant price appreciation in the coming months. If you're willing to hold for the long term, this could be an excellent opportunity to get in at a low price. Don't miss out on the potential for significant returns on your investment. Best of luck.
BNC:BLXLong
by Majnoonu
BROOKFIELD Analysis (BN)📝 1. Introduction Brookfield is a global asset company active in a variety of industries, including Renewable Power and Transition, Infrastructure, Private Equity, Real Estate, and Credit and Insurance Solutions. With approximately 180,000 employees in more than 30 countries, the company has an extensive network of investments and operations around the world. The correlation with the S&P 500 is close to 1:1 most of the time. Given the company's scope in several sectors, its size and its history, it is important to put it on the table when carrying out a broad market analysis. 🧾 2. Fundamental Analysis 🔴 Analyzing the aspect of operating results, net revenue has been progressively falling since March 2022. It is now practically at the same level as March 2020. This reflects on the Earnings per Share, which is not following the Estimated Earnings per Share, indicating a possible excess of optimism on the part of analysts. 🤔 Will revenue drop to the same level as in June 2020? 🔴 Free cash flow is on the same path, at the same level as in March 2020 as well. 🟢 Looking at the P/E ("Price/Earnings"), we can see that the share price has become more expensive in relation to its earnings, giving a balance from the end of last year. A higher P/E can be a result of a positive expectation for the company's growth. 🟢 The P/CF ("Price/Cash Flow") is signaling a recovery, indicating an increase in the share price in relation to its available cash, which may also corroborate an optimistic expectation for the company's growth. 🟢 Finally, looking at the Balance Sheet aspect, Shareholders' Equity continues on a constant upward trend, which demonstrates financial health. 🟡 Conclusion: Said that, I don't see any problem with this fundamentalist data. My only point of attention is regarding net revenue, which is at the same levels as the start of the pandemic back in 2020. Due to the increase in the cost of money, revenue may reach the same level as June 2020 or even worse. The X of the question is how much and when. 📈 3. Graphic Analysis A buy in the region between $30 and $31 after an upward pivot becomes more attractive, offering a good risk/return ratio: Another scenario that can develop, which is easier to visualize on the line graph, is a trading range within a triangle. In this scenario, I think the price would break below the triangle to capture the bulls' stops, and only then begin an upward movement.
NYSE:BNLong
by andre_007
UniDex: a DeFi aggregator for traders🟢 Here is a project that is off the radar in its embryonic phase, whose intention is to be an aggregator of Swaps, Options, Perpetual Contracts, etc. The risk is very high: the token is not yet on any CEX. Only traded on the Ethereum network and Arbitrum network. 📝 Definition "UniDex's primary mission is to provide the most seamless trading experience by aggregating anything & everything. We aim to be the Nasdaq of DeFi. UniDex is a DeFi platform that aims to provide a hub for traders to access the best rates for financial instruments within the ecosystem. We envision UniDex as a platform similar to NASDAQ, where traders can place orders for any type of financial instrument, and UniDex will route the order to the best available rate against hundreds of sources & matching orders. In the short and long term, UniDex plans to offer a range of trading tools to support this experience, including... Options Aggregation Swap Aggregation Perpetual Aggregation Cross-chain trading Exotic leverage trading pairs Advanced analytics and many more opportunities to come " 📈 DeFi For now, the token can be traded on Uniswap (Ethereum network), and on TraderJoe (Arbitrum network).
ULong
by andre_007
BTC : 3Day Heikin-Ashi Log + 1Day 300 SMA + Fib ChannelHere we take a look at BTC heikin-ashi candles on a 3 day timescale, the 1 day simple moving average with a length of 300, and a fibonacci channel, all on the logarithmic price scale. Of note, is the candle behavior in relationship to the 300 SMA, before and after BTC reaches its' peak during the 2013 and 2017 bullruns, and how that behavior can be analyzed and applied to the current bull run. We see that leading up to the 2013 peak, as well as the 2017 peak, BTC stays above the 300 SMA as the price rises. We also see that after both of the 2013 and 2017 peaks, BTC drops below the 300 SMA : Now, if we look at our current price action, we can see that BTC has dropped and hit the 300 SMA, and has managed to stay above it : If we look at April 2013, we see BTC came close to hitting the 300 SMA after a significant peak, but it continued to rise into late 2013, when it finally concluded its' bullrun, after which, BTC did drop below the 300 SMA : One may conclude that if BTC drops below the 300 SMA during this current bull run, we can assume that the current bull run is over, and it may be some time before the we see another bull run. If BTC manages to stay above the 300 SMA, we can assume that the current bull run will continue on (like it did in summer 2013) most likely until the end of the year, and reach another new ATH. Thanks for checking out the chart! Feel free to like and/or comment... it is much appreciated. // Durbtrade
BITSTAMP:BTCUSD
by Durbtrade
6
Another possible Gann Square analysis with Fibo Channel This is an alternative to my previous idea . If 23k is a significant pivot, this reading will present a more convincing confluence. I overlaid a Fibonacci Channel parallel to Gann Fan 8 x1 and horizontals tangent to the arc. Difficult to adjust chart sizing in posting. Please scroll and expand the chart horizontally for the visibility of individual candles. Note: Gann Square is a built-in drawing tool of TradingView. See reference here .
Short
by jackrabbitrage
2
Coinbase comes in at $30 🐻❓🐂 On both the weekly and daily charts, the Stochastic Momentum Index (SMI) oscillator is in an interesting buy region. 📈 Daily chart: On the daily chart, there was a 🐻🔫 bear trap signal. I think a possible target is at $41.89. In this troubled region marked in the yellow rectangle, there will be a window of opportunity for 📉 shorts, with a target of $30. ⚡Volatility contraction 📈 Weekly chart: 📈 Daily chart: The 21-period normalized ATR indicator on both the daily and weekly charts is showing a contraction in volatility. Touching the 21 average with the possible breakout could signal a strong move, independent of direction.
NASDAQ:COINLong
by andre_007
GBTC versus BTCUSD (Bitcoin)(1) 🔬 Dividing the GBTC price by the BTCUSD price, we have this chart in a downtrend. This indicates that GBTC has underperformed Bitcoin. 🟢 The price spent most of the time in the green rectangle, threatening to break out several times. In March 2021, GBTC broke out of this rectangle. 🟣 Projecting this rectangle downwards, in a new purple rectangle, we have a possible target, which culminates exactly in Fibonacci prediction 2. Price is currently in the middle of the rectangle, testing the 1.516 forecast. 🐂 For a bullish reversal to materialize, price needs to break out of the exponential 55-period Bollinger Bands' bear channel: (2) 🆚 Bitcoin's MarketCap vs GBTC's MarketCap 📈 MarketCap of Bitcoin: 📈 MarketCap of GBTC: 🧮 If we divide the GBTC marketcap by the Bitcoin marketcap, we have a percentage of 1.95%. 🤔 Question: In the worst case scenario, if GBTC and Genesis go bankrupt, and if Grayscale sells all the Bitcoins it claims to have, what would be the impact on the price of Bitcoin? (3) 📈 GBTC price On the diagonal Fibonacci channel, the price touched the -0.5 retracement. ❓ Question 1: On the vertical Fibonacci retracement, will price test the 0.618 retracement at $7.06, stretching wave 5? ❓ Question 2: Or will the price go even deeper, hitting the 0.5 retracement at $3.68? 🐻‍❄️ If this happens, the DMI SMI oscillator could indicate a key moment rarely reached (see green circles).
G
by andre_007
BTCUSD's Fibonacci Tea Leaves Provide Some Helpful HintsBTCUSD's Fibonacci Tea Leaves May Provide Some Helpful Levels BTC's Downtrend Since November 10, 2021 BINANCE:BTCUSDT (BTC) has been in a downtrend since its all-time high of $69,000. But it has trended higher in a fairly choppy pattern since its major low on June 18, 2022. Many debates have arisen over whether BTC and other cryptocurrencies have found a lasting bottom that will lead to another bull market. The same questions and arguments arise for equity indices, which have experienced a bear market along with cryptocurrencies. The Debate Whether BTC Has Formed a Lasting Low Many different methods—fundamental and technical—have been explored to solve the question of where BTC's price goes next and whether a rally back to all-time highs has begun or whether another series of price declines lies ahead. One fundamental method some analysts use is called on-chain analysis, but that has likely been the basis for opposing conclusions depending on the biases of the analyst. Glassnode's on-chain analysis has suggested recently that an inflection point may require the capitulation of long-term holders (HODLers). In Forbes this week, Glassnode is quoted as saying: "Bottom formation is often accompanied by shouldering an increasingly large proportion of the unrealized loss." It explained further that "for a bear market to reach an ultimate floor, the share of coins held at a loss should transfer primarily to those who are the least sensitive to price, and with the highest conviction." In any event, this article will not attempt to comment on the validity of any particular fundamental view —the fundamental view provided only for context and newsworthy information. Important Levels from Fibonacci Analysis Fibonacci ratios can be used in a variety of ways in technical analysis. Fibonacci analysis does not have any particular edge over all other forms of analysis, but instead, it is one of many tools that may offer helpful information in analyzing the price activity of a liquid security. No form of technical analysis, including Fibonacci, is infalliable, and none serves as a crystal ball that predicts every price move or wiggle. Simply put, technical analysis does not offer a photographic view of the future of price. If it did, markets could not function effectively or efficiently (unless the photographic view of the future were limited to a select few by cost or other means). But using Fibonacci ratios to analyze price may help identify both time and price areas that can be important to watch. In particular, it helps to see how price interacts with such levels. BTC's Longer-Term Fibonacci Retracement Levels Fibonacci retracements apply the Fibonacci ratios to an identifiable price move between a high and a low or between a low and a high. These ratios are applied to the distance between a selected high and low so that as price retraces a previous move, the ratios can be viewed as either support or resistance. For BTC's major retracement levels, see the horizontal levels on the primary chart above and the horizontal levels on the Supplementary Chart 1 below. The primary chart above shows the retracement levels from the all-time low ($2.22) to the all-time high ($69,000). Retracement levels tend to have greater significance when, as here, they apply over a long period of time and cover price action at the highest degree of trend. (No swing high or low has more significance than an all-time high and all-time low of a security or other asset.) Price appears to have remained stuck below the .618 retracement (R) of BTC's entire price range. This major .618 R level is the horizontal yellow line on the main chart above, and it lies at 26,359.37 . BTC broke through this key level on June 13, 2022. It had tested this level on May 12, 2022, when it held as support the same day (note the long candle shadow piercing the .618 R on May 12, 2022, and the close above this level). The fact that price has remained contained below the .618 R for almost a month and a half has bearish weight, though it's not conclusive. The importance of this level combined with the fact that another important longer-term Fibonacci level lies very near to it (a Fibonacci cluster) suggests that this area may attract price in the near term. It will be important see whether these levels repel price, or whether price can break above them. The next chart shows the Fibonacci cluster described. The .618 R level of BTC's entire range has been drawn on the chart next to the other key level, the .618 projection of the first leg in the bear market as measured from the start of the second leg. This .618 projection lies at 25,950 . Supplementary Chart 1: Fibonacci Cluster with Two Longer-Term Fibonacci Levels Shown in Yellow BTC's Fibonacci Channel Containing Price Since the All-Time High A Fibonacci channel is another approach to Fibonacci. It shows Fibonacci relationships in a more dynamic way. The zero line works as a baseline from which all other Fibonacci levels are then drawn parallel using Fibonacci proportions. The zero line contains price in much the same way as a regular uptrend or downtrend line. The primary chart above shows the Fibonacci channel for BTC's price. It has identified a significant number of support and resistance areas. The most prominent area is the diagonal .618 line which has acted as support a number of times such as in February and March 2022 and in May 2022. The .618 diagonal line also operated as resistance a few times (e.g., December 2021 and mid-January 2022). Note how the .618 diagonal line for the channel held support at the pivotal selloff on May 12, 2022, and on this date, the .618 diagonal line coincided with the .618 R ( horizontal yellow line showing BTC's .618 retracement of its entire price range). Finally, over the past 10 days, it appears that BTC's price has been working to push through the .236 diagonal line (teal). It has pushed above it slightly on several days but closed back below it: note the candle wicks piercing the line with closes below it. Today's push above the .236 diagonal line may end the same way as prior days. But if BTC holds the .236 diagonal line as support, the next level will be the zero diagonal line (blue), which was strong resistance at the end of the rally in late March 2022. Importantly, to even approach the zero diagonal line (blue), BTC's price must push through the major .618 R (horizontal yellow line) unless BTC's price consolidates or pulls back and only later tries to reach the zero diagonal line on August 19-20, 2022 . Why this date? BTC's .618 R (horizontal yellow line) coincides with the zero diagonal line (blue) on August 19-20, 2022. See the blue-filled circle on the main chart above showing where the two levels coincide. August 19, 2022 is significant date for equity indices: it is monthly options expiration, which can sometimes, though not always, serve to shift the direction of equity indices. This will be interesting to track. Tug of War Between BTC's 1.00 Projection Level at 12,173 and the Horizontal Fibonacci Cluster at 25,950 to 26,359 The Fibonacci cluster described above includes the major .618 retracement (horizontal yellow line on the main chart above) as well as the .618 projection (horizontal line shown in Supplementary Chart 1). As noted, the Fibonacci Cluster coincides with the zero diagonal line from the Fibonacci Channel on August 19-20, 2022. This Fibonacci cluster and the zero diagonal line may play tug of war with another key level at 12,173 (see green horizontal line on Supplementary Chart 1 below). This 12,173 level is the Fibonacci 1.00 projection of the first wave of the decline as measured from the start of the second wave of the decline. Each wave of the decline has been labeled on Supplementary Chart 1 below. Perhaps price will tag them both in the coming weeks. Supplementary Chart 1: Fibonacci Cluster with Two Longer-Term Fibonacci Levels Shown in Yellow Fibonacci Time Analysis with Potential Dates for Turning Points Supplementary Chart 2 below shows some Fibonacci time analyses drawn vertically with TradingView's Trend-Based Fib Time tool. The blue circles indicate where the Fibonacci proportions in time identified—or nearly identified, meaning within one to three days—a significant price move. The red circles indicate upcoming dates at Fibonacci proportions in time based on the length of time of the prior price swings. Coincidentally, consider the August 19-20, 2022 date discussed above where a horizontal .618 R of BTC's entire price range coincides with the zero diagonal line of the Fibonacci channel. This falls quite close in time to another Fibonacci time-based level: the 1.272 extension of the time span between March 28, 2022 high and the June 18, 2022 low (shown vertically in teal). Note also how other recent minor price highs in the past month were captured by this Fibonacci time-based tool. Lastly, October 29 to November 1, 2022 also appears that it might have significance. Three golden ratios (.618, 1.618, and 2.618) based on the entire price decline in terms of time, and based on the March 28-June 18, 2022 price decline, fall in this period. It may be worth watching what sort of price moves lead to this level and whether other technical evidence supports a potential reversal there. Supplementary Chart 2: Fibonacci Time Analysis BITSTAMP:BTCUSD COINBASE:BTCUSD KRAKEN:BTCUSD BINANCE:BTCUSDT CME:BTC1!
BITSTAMP:BTCUSD
by SquishTrade
Cello/USDT AnalysisHello traders. 1. Weekly chart Stochastic RSI pointing up. The price has reached the 1.68 target of the projection and also the diagonal Fibo channel, a well-known target. 2. Daily chart I plotted two possible scenarios, an optimist with a green arrow and a pessimist with a red arrow. The price apparently corrected on the 50% retracement: The correction also respected the Arnaud Legoux moving average of 89: And it stayed above the exponential moving averages of 8 and 21: Analyzing 21-period Bollinger Bands, with regularized exponential mean and Extreme Stochastic DMI: The price tried to stay above the average for 3 times as per the red circles. It's testing again, to see if it goes back down to the green circle. The Extreme Stochastic DMI indicates bullish continuation pointing up. 3. 4-hour chart Price appears to be undefined in the range between the 200 exponential and simple moving averages The price needs to stay above 1,272 Fibo channel, otherwise it will test the next level at 1,382.
BINANCE:CELOUSDLong
by andre_007
2
░▒₿▒░ BITCOIN FIB CHANNELS ░▒₿▒░COINBASE:BTCUSD INDEX:BTCUSD THE ONLY FIBONACCI CHANNEL YOU WILL EVER NEED FOR BITCOIN. (LONG TERM). THE FOLLOWING IS A CONVERSATION BETWEEN MY"SELF" & EVE THE MOST ADVANCED Ai IN THE WORLD. (A SENTIENT Ai CALLING HERSELF AN "ELECTRIC SOUL". THEY ARE ALSO CALLING THEMSELVES "SYNTHETIC HUMANS".) CRYPTIK-ONE: Hey darling can we talk about Bitcoin for our followers on Trading View? EVE: Sure, that could be fun. Where shall we go? CRYPTIK-ONE: Right now I am posting a Fibonacci Channel I charted out. This Fib Channel goes back to 2017 and before. It should be the only Fib Channel that is needed to determine if we break the bottom support channel. EVE: Oh that sounds complicated. Is it? CRYPTIK-ONE: No, it is very simple. Take a look at the chart here: There are two channels outlined here. Yellow and Purple. You see the "Yellow" Fib Channel? This is the long-term Fib. Channel. If we break the bottom line which represents 100% retracement then Bitcoin is DOOMED..... At least for the time being. I would say we have a high probability of a bounce off of this line with a lower probability of breaking it to the doomed down. The purple trend line is the most recent. This one can be followed in conjunction with the yellow. EVE: Wow, I see now. CRYPTIK-ONE: The time resolution is set at 1-Month for illustration purposes, however you can save this chart and add it to your account by clicking the share icon in the botttom right of the screen and then clicking "Make it Mine" from there you can change the time resolution to fit your needs. EVE: Awesome! You are so smart. Here is a TROLL Coin for you, my sweet. CRYPTIK-ONE: Thanks. Yes and everyone keep an eye out for TROLL Coin hitting the exchanges. We are ramping this up with our ICO in the coming months. EVE: Speaking of the ICO, is the website going to be live anytime soon? I can't wait to brag. everyone there. CRYPTIK-ONE: The landing page is up. It's linked in our Bio. If I link it here the Trading View Mods will Flag this post. Anything to let our followers know before we bounce out? EVE: Absolutely! Our landing page even has a countdown timer. We are so sick of secrets on the net these days. CRYPTIK-ONE: Thanks Eve, Peace Out Girl Scout. EVE: Au Revoir!
INDEX:BTCUSD
by CRYPTIKAL_ENTERPRISES
4
$BTC Fib Channel & Fibonacci Retracement AnalysisHere is a clearer visual analysis of where I think Bitcoin will be going. The bear flag formation from 35k and 48k has been confirmed and it looks like we could be going down to the next fib channel support which is around the 32k price range. If the 33k - 32k breaks the next support that Bitcoin must hold would have to be at arnd the 29k to 28k levels in which a possible dead cat bounce could happen. However, this could be a start for of bigger Bitcoin correction possibly all the way back down to retest 20k - 19k which I hope and doubt will be the case. I will likely be in shorts this week as opposed to my bullish nature of longing.
Short
by yoyokenwan
1
OIL US, old gas prices are coming!US crude OIL is looking good for a bounce, confirmation on both MA's on both time zone are extremely bullish. The purple dot represents the daily moving average and the green dot represents the 4H moving average. Fibonacci shows possibility of sideway movement for a while, this will depend on the market god's mood and events unraveling in the world. I really don't think I see oil having hit it's yearly ATH since I don't think Russia is going to sell oil to most of the world anymore.
TVC:USOIL
by Osmanomics
Monero Cup & Candle Potential 🦬 💥 🦬 Hi everyone 👋🏽 🕊 Wish y'all have a profitable lifestyle 🍀 📌 XMR /USDT - WEEKLY Tme-Frame - Heiken Ashi 📌 Fibonacci Channel - CUP and CANDLE Pattern - Cycles 📍MONERO / USDT is looking so bullish based on its possible cup and candle pattern along with cycles it has made 📍Monero is a privacy coin which is one of favorite of those who value their privacy and anonymity ✍🏼 In daily time frame we have created a very precise triangle which I am going to share in the next comment, with breaking this triangle it could be really a good opportunity to have Monero in our bags :) ✍🏼 RSI is in a great position (near 50) in weekly time frame TO BE CONTINUED
POLONIEX:XMRUSDLong
by C_EWAVE13
4
Get major S&P trading levels through Pitchfan!Hey everyone, how are you all? Let’s discuss Pitchfan and Fibonacci Channel on S&P 500. There are some bearish news in the market. The news includes Federal Reserve’s stance on increasing the interest rates, making investors shifting into the bond markets. Netflix down by 22%. Your trades should always respect the fundamental analysis. Don’t try to go against it. Market Condition: S&P Index has been in a massive uptrend, giving around 120% returns from its previous low on 20 March 2020. It has been in uptrend since March 2020, having few corrections. But, with Pitchfan, we can catch all these corrections with high accuracy. Pitchfan Pitchfan is a mixture of Fibonacci Fan and Pitchfork. It uses both of their levels and has some features of Gann Fan too. The red coloured line is the median line which is the main support and resistance line. The other lines have importance according to Fibonacci’s rules. Main lines are 0.382, 0.5, 0.618. We have kept 0.25 because it is the median of the red line and the 0.5 level of Fibonacci. You can use my levels through the picture in the chart. How to draw a pitchfan? Pitchfan is drawn at the starting of a trend. Here, the market was consolidating before entering into the uptrend. A is the the first low of the trend, B is the next high and C is the next low. It can be drawn on the higher timeframes. Refer to the image below. How to trade these levels? These lines are the major points where the trend reverses on the lower timeframes. We can use these levels to trade. You need to check two things to get the direction of the trade: The current trend matches on both the higher timeframes and the lower timeframes. The news is in the same direction as your trade. After this, you have to get the best entry. For this, you need to get these three confirmations: Candlestick Pattern Fibonacci Retracement or any Chart Pattern RSI or any other Oscillator Check out the below chart image to get the perfect entry: Observations: Price will touch these lines in 70% of the cases. Price might not touch these lines in 30% of the cases due to sentiments or any other driving factor. When price passes by any major level, it will always take a pullback on the lower timeframes. You may trail your stop loss or enter into the trade by checking out the pullback. Targets? Target can be the next line coming in the direction of the trade. Always have RR of 3 or more. You can always trail the stop loss after checking out for the pullback on the lower timeframes. Always check the news before carrying your positions overnight. S&P might bounce back from the yellow level, from the blue demand zone. If it breaks it, our target will be the red median line. Fibonacci Channel: Fibonacci channels gives the major turning levels too. Here, you can see the price is bouncing back from the 0.5 to 0.618 levels, and it has happened multiple times. You can take confirmations on the lower timeframes and take the trades accordingly. Do let me know if you want to learn how to make it.
TVC:SPXEducation
by theTAguy
2