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Fibonacci Cluster

USDJPY Higher Time Frame AnalysisJapanese Yen collapse continues with its lowest closing price in 34 years. If it falls through 160, it will be the lowest level against the U.S. Dollar since the 1980s. It can get even worse. Let's look at some charts: 1. We are currently sitting at 160 resistance level where a W FCP pattern is completed which can give us a correction. This is the last level which is preventing the USDJPY from slingshotting upwards. 2. A CUP formation is happening at the moment (rounding bottom). So if the correction comes at the current levels, that can make this a Cup and Handle pattern. 3. If the correction does not occur or we get a shallow one, these current levels can become a new support which can push USDJPY higher once confirmed. 4. There are several gaps left in 1980s. I posted about these gaps in my previous post approximately 7 months ago, indicating that USDJPY would be bullish. 5. These are the levels where in the long run USDJPY can go to complete a big W pattern. This can have a huge impact on the #dollar index (DXY) too. I recently did a premium analysis report on USDJPY and DXY (dollar index) for a client which has a more in-depth analysis and potential target zones/levels. Get in touch with me via DM if you want to order a copy of that report. If you found this interesting please consider supporting this analysis by liking, commenting, and sharing with friends, colleagues, traders, and trading communities. Thanks👍🙂
by vikinsa
MSFT’s Momentum Weakening: Where’re the defending levels? Trend - On the weekly chart: Still within the large uptrend channel since January 2023. - On the daily chart: The minor uptrend channel since October 2023 was broken with moderate volume. - Although the long-term uptrend remains intact, the short-term momentum may be pausing. 100% Symmetrical Projection: Uptrend “N” Patterns - There are two price projection models, both leading to the same ultimate target price of $457. The large purple N, starting from January 2023. The small orange N, starting from October 2023. - Symmetry break : If the price drops below the prior low at $400, the symmetry (the pullback) is violated. Following that, with increased uncertainties, anticipating the price action will become challenging. - If the momentum is strong, we could expect a clear price movement toward the target price once it surpasses the symmetrical retracement box at $421. However, the price is currently hovering around $421, indicating weakening momentum. N Pattern’s Target Price & Fibonacci Price Cluster - Both N patterns are an A+ setup . Retrace 0.382 of the prior swing and then continue to rise. - The level of 1.618 Fibonacci projection of the prior swing is the N’s target price. - The level of 2.618 Fibonacci extension of the retracement is the N’s target price. - The price treats the key Fibonacci levels as significant support and resistance levels along the way up. Conclusion - Currently, the momentum is weakening, though not yet exhausted. - Once the price breaks below $400, the short-term momentum will be exhausted, potentially leading to a trend reversal. - In the long term, for MSFT to sustain the uptrend, the price should remain within the large uptrend channel and above the price level of $367. **Not Financial Advice** The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
NASDAQ:MSFT
by stock_adelie
The Bitcoin Matrix: Fibonacci’s $250k BlueprintI am tracing Bitcoin's trajectory to $250k using a unique technical lens - Fib circles on a logarithmic chart paired with extension spikes. These circles, six in number, have been instrumental in identifying key price action stages since Bitcoin's first halving. We group these stages into three 'duo-phases' ( I, II, III ) ( With two for each ) Each Macro Pair representing an integral era of Bitcoin's technical evolution in Logarithmic mode through s/r. I've also linked my other future proof Bitcoin analysis ideas below.
CRYPTO:BTCUSDLong
by MichaelBsul
4
Bitcoin: Bull Run Targets through FibonacciLet me explain. These are all Fibonacci Extensions. The Market Maker is officially done imo so I am very comfortable posting these finished schematics. Many Extensions reach the exact ATH at 69k as you can clearly see... The Schematics are numbered Chronologically. #1-#8 are placed in the order they were created. #3 are the SUPPORT Schematics that are highlighted in RED. #1 and #2 are monthlies because they are considered longer term. HOWEVER, every single schematic can affect any timeframe so there is zero bias. --For anyone thinking, "well theres lines everywhere so whats the point?" --All of these 'lines' are mathematically perfect so there is no arguing with them because they are all perfect and unique in placement. The linked idea is my old one... so this new idea is the revamped one. (better)
CRYPTO:BTCUSDLong
by MichaelBsul
7
Bitcoin: All Fibonacci Schematics-This concept overall is called Fibonacci Clustering , which is laying over many different Fib Schematics on each-other... -I have combined 7 of my greatest Bitcoin Schematics into this one complete idea. -These Fibonacci Clustered charts have been battle tested for months. I have linked the original ideas down below to show how I first created these (by myself). - The first box is a monthly timeframe with the longest fib circles from each halving , so there are two circles . --VERY IMPORTANT-- THE FIBONACCI EXTENSIONS ON #1 ARE HIGHLIGHTED AS WHITE HORIZONTAL LINES . WE FRONTAN 70K AND RETREATED BACK TO 15K . GIVEN THIS MONTHLY PATTERN OF A FRONTRUN AND RETURN TO THE MEAN WE CAN EXPECT TO FULLY TAKE 70K AND THEN SOME BASED SOLEY ON THE FRONTRUNNING OF 70K.... -There is also the longest/earliest Fibonacci Extension in the 1st box. This is why it is a Monthly. -The second and third box are the 2 most prominent weekly schematics for Bitcoin . They are separate boxes but work together simultaneously. -Since they are created after #1, it makes sense to make them weeklies. But if I were to place them all into Monthly timeframes or visa versa, it would work either way ... If you click on "The Bitcoin Matrix" linked below, you'll notice that the Spikes in this idea are from #1 #2 and #3 in that one...
CRYPTO:BTCUSDLong
by MichaelBsul
1
Bullish and Bearish EURUSD OutlookBullish and Bearish EURUSD Outlook What we see we trade, as we are end of Sept 2023 last weekly of trade playbook for EURUSD. Monthly Playbook As we have witness 38.2% of Fibonacci scale multiple touches at the same time RSI 8 is crossing from top to RSI 13. (RSI 45.78) As we see we are bearish trend. To read the same after July candle inverted candle. ( & ) perfect text book example of inverted candle. Aug candle with upper and lower wick engulfing candle. As we are in month of Sept last week did touch 38.2% Fibonacci Scale but did not close below we are still one more week to get this monthly candle. Weekly Playbook As we have witness last week close as inverted hammer weekly ( ) Again we see inverted hammer is close below 38.2% of Fibonacci scale, ( )which mean we are having bearishness in market as well monthly candle is near to 61.8% clustering with 38.2% Fibonacci Scale. Daily Playbook There are is similarity checker ( ) as identify on 18th July with fractal formation and market becomes a bearish. Last couple of day getting rejected from bottom creating double bottom candles. With Fibonacci Scale last 2 candles. Thursday 21st Sept 2023 candle perfect text book example close 38.2% and Friday 22nd Sept candle is 50% which mostly likely to get failed mean as we see rejection from bottom will not carry out to bullishness. ( ) As market open we will update on the same link as real time any new trend.
by shoonya0000
📈 Fibonacci Power in Uptrends📍 What Are Fibonacci Retracement Levels? Fibonacci retracement levels—stemming from the Fibonacci sequence—are horizontal lines that indicate where support and resistance are likely to occur. Each level is associated with a percentage. The percentage is how much of a prior move the price has retraced. The Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, and 78.6%. While not officially a Fibonacci ratio, 50% is also used. The indicator is useful because it can be drawn between any two significant price points, such as a high and a low. The indicator will then create the levels between those two points. 📈 To effectively trade Fibonacci retracements during an uptrend and strategically enter the market during pullbacks, follow these steps: 🔷Identify the uptrend: Determine the presence of a clear upward price movement. 🔷Apply Fibonacci tool: Utilize the Fibonacci retracement tool to identify potential retracement levels within the uptrend. 🔷Focus on pullbacks: Wait for the price to experience a pullback or retracement within the uptrend. 🔷Assess Fibonacci levels: Analyze the price's interaction with key Fibonacci levels, such as the 61.8% or 65% zone, to identify potential support or resistance areas. 🔷Higher highs confirmation: Look for the formation of higher highs after the price touches a Fibonacci level, indicating a continuation of the uptrend. 🔷Entry opportunity: Consider entering the market after a pullback when the price resumes its upward movement, using appropriate risk management strategies. By combining the power of Fibonacci retracements, recognizing pullbacks in uptrends, and waiting for higher highs, traders can position themselves to capitalize on the potential profit opportunities offered by the market. 👤 @QuantVue 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
2
LINKUSDT is testing the support right nowLINKUSDT is testing a key level at the $9.1 area, where the market has previously encountered resistance. This level is important because it has acted as a significant point of resistance in the past, and traders will be closely watching the price action to see if the level is broken. If the price of LINKUSDT is able to break through this key level and establish new support, this could signal a potential bullish trend. To apply Plancton's Rules in this scenario, traders should wait for the new liquidity and a new breakout to be confirmed before taking a long position. This means waiting for the price to break through the key resistance level and establish new support, which can provide more reliable signals for traders. So, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ black structure -> <= 1h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
11
The Ultimate Algorand (ALGO) Analysis - Bottom $0.1618On the 22nd June 2019, Algorand opened at a price of around $3.28 on Coinbase, and slightly higher on Binance. Over the next few months, it dropped to around $0.1648 (maybe $0.1618 on some exchanges) and then $0.097 at the Covid crisis. Before the 2021 bull run, in November, ALGO's Support level was around $0.2247 (Point X of the harmonic) before it began its ascend. In early February of 2021, ALGO topped around $1.8427 (Point A of the harmonic) This increase is by an exact amount of $1.618, the main number in the Fibonacci sequence. Coincidence? I don't think so. After it dropped to Point B of the harmonic, around $0.67, which is a very strong Support/Resistance level. Notice the number - 0.67 is exactly 2/3 of 100. If I multiply 0.6667 by 0.6667 I get 0.44444. 0.6667 - 0.44444 = 0.223, the EXACT NUMBER of Algorand's Support level before the bullrun. OK, now this is getting crazy. Algorand then increased by 161.8% (A-B) to create Point C (around 2.5589). It then dropped to around $1.5144 - the 0.444 support level (which I have marked "S"). (Remember that 0.4444 number from earlier? Yeah.....) The price was then manipulated up to around $2.99-$3. This manipulation point is a whole new conversation involved with even more complex numbers and I think its best we avoid this in this argument, since it doesn't affect this current idea. ANYWAY, if we ignore the manipulation which we usually do in these circumstances and create Point C as our harmonic level, we can see that BC is a +1.618% of AB. Now if we draw a fib between ZERO and A we get 0.618 which is at point B OR if we draw a fib between $0.223 (Start of 2021 bull run) and $1.84 ish (Point A), we get the retracement value around 0.707 which is half of the value of 1.414, and 1.414 is the square root of 2. So AB is (XA x half of the square root of 2) and the next move entails a 1.618 move of that figure. Crazy maths... Anyway, In a standard AB=CD HARMONIC PATTERN, we have 3 different variations, AB=CD, AB=CDx1.272 or AB=CDx1.618. The most common one is 1.272, which is the square root of 1.618. Now what happens if we measure BC x 1.272? The answer is a price of ALGO of $0.1618. As soon as I saw that it hit me. That's the bottom. $0.1618, the Fibonacci golden number will likely be the bottom of Algorand in this cycle. So what is the profit target? So I checked a few measurements. I tried CD x 1.618 (if we hypothetically say that $0.1618 is the bottom of Algorand this cycle) and that gave me a figure of around $4.03. I also did (All Time High minus All Time Low) x 1.272 (the square root of 1.618) and that gave me a similar figure of around $4.03. OH ALSO, one last thing... Algorand is currently in a Bear Flag, the target is around $0.223-0.226 to Buy the bounce. It will go lower around Christmas time, but if you look at the 1.414 level (square root of 2) of the Bear Flag, it also reaches the same point around $0.1618!
by reiiss7
6
How to use Fibonacci Retracement ⁉️ ‼️ Forex traders use Fibonacci retracements to pinpoint where to place orders for market entry, taking profits and stop-loss orders. Fibonacci levels are commonly used in forex trading to identify and trade off support and resistance levels. After a significant price movement up or down, the new support and resistance levels are often at or near these trend lines . Usually the price retracts to 50% or untile OTE (0.62, 0.705, 0.79) before another impulse movement occurs.
OANDA:XAUUSDEducation
by Snick3rSD
S&P 500 (SPX) May Stall Next Week in Its Bear RallyPrimary Chart: Fibonacci Levels, Key EMA, and Uptrend Channel off Lows S&P 500 (SPX) has bounced hard off its lows on October 13, 2022, the date the CPI was released. Although price has chopped and whipsawed, it has been steadily working its way higher. But choppy price action is not without a purpose in technical analysis: it can help identify the direction of the larger degree of trend because it typically runs countertrend to the larger-degree trend. Impulsive price action, by contrast, tends to powerfully impel price in the direction of the trend. Because corrective action moves against the trend, it tends to struggle to proceed in that countertrend direction. So the fact that price has been choppy as it moves higher suggests that the larger-degree trend remains downward. This post does not suggest that SPX or any other equity index has seen a final and lasting low. The bear market remains in effect until the larger-degree structure materially changes. That has not happened. SPX may rally, however, into the coming week. In this rally, the levels to be watched on the upside (resistance) include the following: 380 is a major Fibonacci cluster of levels (more precisely, the two levels are 379.92 and 380.05). 375.45 is the prior swing high on October 18, 2022, the highest point so far in the rally off October 13, 2022, lows. 372.41 is a key Fibonacci level at the .382 retracement of the second leg of decline from September 12 to October 13, 2022. 368.42 is a key Fibonacci level and it has also been a key level of resistance where gaps have occurred as well as actual price rejections over the past several weeks. 370.00 is a key options gamma hedging level that may have an effect through Friday, October 21, 2022. 366.47, 366.73 are the levels for the 21-day and 34-day EMAs as of October 20, 2022. Price targets for this bear rally are at first 375 SPY. Only if 375 SPY can be reached and successfully held, then the next higher target comes into effect. The next higher target is 380 SPY, which correlates to about 3810 on SPX, the ticker for the actual S&P 500 index. The VWAP anchored to the major swing high in mid-August 2022 is currently at 383 SPY. But this VWAP is sloped downward, and will likely continue falling, albeit less sharply, over the next few days. This VWAP likely will coincide with the key Fibonacci cluster at 380 sometime next week. This anchored VWAP is shown in orange in the following chart: Supplemental Chart: VWAP Anchored to mid-August 2022 High On Tuesday, price began to pull back from its October 18, 2022, swing high at 375. So the levels to be watched on the downside (support) include the following: 364-365 is an important area of support in the coming day or two at the lower bounds of the parallel channel off the October 2022 lows. This level of support rises over time given that the line is sloped, so the support is dynamic. Given the direction of futures overnight, the 364 SPY level may likely be tagged before further upside can take place. 362.34 is a major Fibonacci retracement level applied to the range from the October 13-18 rally. 359.25 is the .618 Fibonacci retracement level applied to the range from the October 13-18 rally. 356.64 is both major price support from September 30 and October 10-13, 2022, but also a Fibonacci level. Below this level would strongly suggest that the bear rally is finished and new lows will be made. Despite price moving higher and bouncing quite sharply off the October 13, 2022, low, it's important to note that the macroeconomic and monetary policy environment remain negative for equities and risk assets. CPI and PPI in the US, two widely considered measures of inflation, both came in hotter than expected in October 2022. Fed Funds Futures are continuing to price in a 75 basis-point hike at the FOMC meeting that concludes on November 2, 2022. In two other bear markets in the past 22 years, the US central bank was busy cutting rates to stimulate the economy and mitigate recession. Now, by contrast, the Federal Reserve and other central banks around the world are hiking rates to try to negate sticky inflation that has hit levels not seen for decades. Finally, because this is a bear rally, by definition countertrend, price can fail at any time. Any trades are likely lower probability bets given that the primary trend has been powerful since January 4, 2022's all-time high, and especially since the August 16, 2022, peak. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
AMEX:SPY
by SquishTrade
11
$WTI $USOIL Can Rise #crudeoilTraders, Intraday USOIL (WTI) has been slipping but the structure has been broker to the upside on the smaller timesframes. There is a very good confluence zone coming up soon on Crude Oil which can be a great place for long entry if the confirmation arrives. This can be a little risky trade so manage the risk. The target ultimately is the unfilled gap which left there days ago. Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade set ups and the updates of this analysis ✅ Don't hesitate to share your ideas, comments, opinions and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
TVC:USOILLong
by vikinsa
1
Can SPX Push through a Wall of Resistance?Can SPX Continue to Push Through a Wall of Resistance? Like many other global indices and liquid assets, the S&P 500 (SPX) has had a powerful rally off June 17, 2022 lows. This rally coincided with the July 2022 FOMC meeting and presser—the rally increased in the days preceding the FOMC meeting and then continued in earnest afterwards. This post will not attempt to analyze the public debate over whether Fed Chair Jerome Powell's unscripted comments about the Federal Funds rate being at the "neutral rate" equate to a dovish shift. In any case, markets have seemingly interpreted (or perhaps misinterpreted) this statement as providing support for risk assets. The Fibonacci resistance discussed below also coincides with major chart resistance shown by the blue rectangle in the chart below. This area of strong resistance captures a number of highs and lows from the consolidation in early June 2022, the lows in March 2022, and the lows in February 2022. Chart Showing Price Resistance at Former Highs, Lows and and early June 2022 Consolidation Fibonacci Analysis SPX has rallied above 4137.50, which is the .50 retracement (R) of this bear market's most recent leg of decline, i.e., the decline from March 29 highs to June 17 lows. At first, SPX stalled at this .50 R for three consecutive days, with each day showing price piercing above this level and then immediately being rejected and closing back below it. But today, price closed above it. This level should continue to be watched as price may push through it and then fail back below again several days later. But SPX does not have an unfettered path back to all-time highs. Within the coming days, the Fibonacci cluster highlighted on the main chart above will be critical to watch. This cluster ranges from 4114.59 to 4255.13. Note the bullish slope of the 8-day and 21-day EMAs (labeled on the main chart above), which indicate continuing momentum that could allow for another push right up to this Fibonacci cluster area. Price could, however, fail yet again at current levels given that the key .50 R level was near the high of the current price bar's range. An additional Fibonacci level coincides with the Fibonacci cluster shown on the main chart above. This level is the 1.618 projection (or extension) of the shown in the chart below. The 1.618 Projection of First Leg of Rally from the July 14 Low Momentum Analysis Momentum appears to be in the beginning stages of waning and weakening. For momentum, consider the two charts below showing %B indicator (a derivative of Bollinger Bands) and the RSI indicator. %B Indicator (Daily Chart) Shows Relative Weakness with New High on August 3, 2022 RSI on Daily Chart Shows Divergence But note that the divergence on RSI could disappear if price presses up higher tomorrow, drawing the RSI to an even higher level that helps it make a new RSI high along with a new price high. This bears watching carefully. Finally, the early stages of weakening momentum does not necessarily mean that the rally is finished. It just means that stops on longs should be tightened. And for example, those with a bearish view may want to begin looking for sell triggers signaling a shorter-term trend reversal, but caution for bearish positions is warranted because whether this rally may extend for another month or two or whether the bear market will immediately resume remains unclear. SP:SPX OANDA:SPX500USD BLACKBULL:SPX500 VANTAGE:SP500 AMEX:SPY CME_MINI:ES1!
SP:SPX
by SquishTrade
BTCUSDT wants to retest the 0.5 Fibonacci level The price is testing the 0.618 Fibonacci level on the monthly support (29k) On the daily timeframe the price is testing the 0.382 Fibonacci level as resistance. on 4h timeframe the price is creating a symmetrical triangle. How to approach it? IF the price is going to have a breakout from the 32k and retest it as new resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
20
DXY (USDollar)- Target Reached! More Bullish? -In-Depth AnalysisTraders, DXY (USDOLLAR) has reached our target and last week started to take a little pause from its parabolic move which has been going on for weeks. The dollar index is still very bullish but this pause is a very much welcomed because it is giving us several opportunities across asset classes. In this in-depth analysis on dollar index we will look into higher time frame structure of dollar using our FCP Strategy which we have been following and we will also look at the possible short term opportunities. Even if you are not trading Dollar, you must pay attention to it as it affects almost entire market including EURUSD, GBPUSD, AUDUSD and all USDXXX forex pairs and other asset classes such as Gold. So we will have a very quick look into these markets too. On the bullish side, the chart clearly shows all possible targets if the market continues to go higher in coming weeks/months and years. This is a long term analysis so can take a long time, even years and things can change too in that duration. So take care of the risk. There are however 2 reasons for its possible falls too in the future: 1. There are several gaps left and the lowest one is around 90 2. W pattern makes a market fall from few specific levels. So beware of these 2 cases. Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade set ups and the updates of this analysis ✅ Don't hesitate to share your ideas, comments, opinions and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
TVC:DXYLong
by vikinsa
BTCUSDT one more leg down nowPrice action has been rejected from 88.6% - 78.6% range, 15M overbought. Ttarget at 14.6% of Fibonacci retracement (28.7k). Why 14.6% (.146) and 88.6% (.886) are important levels on Fibonacci retracement? The 14.6 Fibonacci ratio, wich has a high mean of assertivity, is mirroned by 88.6, which has become an important entry level and stop loss in the market. 88.6 = 1 - X, X = 14.6. These are hidden levels on the standard scale. But you can add them manually. As you can see on chart, my fave way to use the Fibonacci Retracement is setting the .50 level at the pivot point** that precedes a pullback, i.e. the lowest low of the first downtrend. The price generally tends to retrace at least to the 0.707* level, which is another hidden level. The most common case in the crypto market, according to my experiences, is the price going into the zone between 0.886 and 0.786. In many cases touching 88.6, which can be considered a conservative point for a stop loss. If the price does not retrace from this zone, then a potential trend reversal can be considered. I have considered the range between 88.6 and 78.6 to be a 'short zone', that is, a zone where I usually wait for a reversive price action, or you could say a potential reversal zone. When price follows the trend after retracing then I consider 14.6% as my potential target. Means that tendence continues. This complete zig zag movement is what we call a swing, upward or downward. *0.707 (70.7%) is the square root of 0.5 Fibonacci ratio, wich is a ratio between 1 and 2. **Pivot points (some call them "swing points") are those areas where important short term reversals take place. Okay, let's see what happens during this trade. Thanks for your attention.
Short
by firmestudio
LRCUSDT the price is testing the 4h supportThe price created a triple bottom on the monthly support of 0.62$ where the market found liquidity for a new bullish impulse. On the daily timeframe, the price got a rejection from the 0.5 Fibonacci level exactly on 1.37$. pon the 4h timeframe the price created an M pattern with the double top on 1.37$ and the market lost the weekly support How to approach? The price is going to test the M's neckline as new resistance. IF and only IF the price is going to lose the daily and 4h support (1.09$) and retest it as new resistance, According to Plancton's strategy , we can set a nice order. The next valid support could be the monthly support of 0.89$ and 0.618 Fibonacci level ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip