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Fibonacci Confluence

Fibonacci Convergence and turning points. We suspect that the US Dollar up move that has been in play for a little over one year is most likely done for now. Firstly, the market has failed to maintain its bid to head above the 103.91/86 peaks seen in 2017 and 2020 AND the daily RSI has a large divergence reflecting a severe loss of upside momentum. This is seen when price makes a new high BUT the RSI does not. But for us the most telling factor is the convergence of the Fibonacci retracements. Sorry what? This happens when Fibonacci retracements from a number of different lows or highs to find a level where 2 or more retracements are at or near the same level. Over the years I have observed when this happens it frequently coincides with a strong possibility of a turning point. For example, a Fibonacci convergence can be seen on the US Dollar Index daily chart where we can see the 38.2% retracement from the September 2021 low and the 50% retracement from the 2022 low converge at 99.80/97. The 50% and 61.8% retracements lie 98.41/57 etc Nearby support is 102.37, the 5th May low, but we suspect that the market will retrace towards its 55-day ma at 100.85 with the 38.2% and 50% retracements at 99.97/80 acting as our short-term target. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
ICEUS:DX1!Short
by The_STA
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 short continuesBTCUSDT short continues. All we have to do is hold shorts till the local support. A pullbacck will occurs from that and then the market shall fall from this consolidation, so-called bearflag on intraday timeframes. Down is the way on the road of a bearmarket. Put your money in risk in small pullback on the mid location between supply and demand will ruins your wallet. Minds we have a major highly reliable Head and Shoulders to expect for the correction. Don't be a moonboi. Oscillator: Ehlers' Stochastic CG
Short
by firmestudio
1
BTCUSDT intraday reached the peak of the last upward swingBTCUSDT intraday reached the peak of the last upward swing. Now, as we can see on this chart, BTCUSDT price action is reacting to 78.6% Fibonacci retracement level which is a key level to shorts. Actually the price is in a potential reversal zone. Considering the reversal from this peak the price accomplished a prior zizag with this pullback for a expected downward. The local support is the demand to reached in a 2-day swing trade. Overbought condition as can be read on Ehlers Stochatisc CG oscillator. Plus a comparing price line from LinkdownUSDT of Binance to show to you an option to avoid of the liquidity risk. Don't be FOMOed and a moonboi will safe you of losts.
Short
by firmestudio
DXY (Dollar) Long Term Analysis & Plan UpdateTraders, DXY (Dollar index) has been massively bullish as expected. Forget about what media has been saying about inflation, printing etc. The truth is that Dollar has been rising and markets worldwide have been getting affected by this move. Because of the general consensus, a lot of traders, investors and even institutions have found this move surprising and shocking. That is why we must analyse ourselves and trade what we see. 🙂 Dollar has been breaking out of a multi year consolidation range. I pointed out this possibility several times in last year or so because of a possible W pattern which was forming. This W pattern was going to form anyway but then covid came which pushed the DXY down. Now Dollar is back above the pre-covid level. Once this break out from the consolidation has been confirmed, USDOLLAR can rise mush higher. 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
LINKUSDT Short updatedI'm updating my chart adding one more Fibonacci retracement target. As we can see the price has been rejected from 78.6%. From the last post: 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
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
Gold (XAUUSD) Full Analysis - Next Big Opportunity Coming!Traders, Gold followed our analysis and fell from 1988 supply zone after completing a W pattern with good Fibonacci confluence. Now after few recent bounces up it is reaching a critical area which can define its future direction for a long term structure. We have: 1. Possible completion of M pattern (FCP zone) 2. Trend Lines to support 3. 200 SMA But if this area is violated because Gold already had few bounces in recent days consuming majority of Buy orders then it can fall much further down to 1700s. That can be a very big opportunity for shorting gold. Presenting Gold Analysis & Forecast Updates - XAUUSD Technical Analysis For May 09, 2022 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. ____________________________________________________
OANDA:XAUUSDShort
by vikinsa
6
BTCUSDT micro double bottom AB=CDBTCUSDT micro double bottom - possible pullback. The price action has been made a wonderfull bear flag structure and the double bottom is in conjunction with an oversold condiction and increased interest in accumulation. My technical analysis is mainly based on Fibonacci ratios in a sequencial AB=CD pattern. Expecting a intraday swing upward in a potential micro bearish CRAB (updates incoming) pattern as a final leg up of this flag. Potential Reversal Zone predicted at 35K level - 14.6-0% Fibonacci Retracement.
Long
by firmestudio
LUNAUSDT time for the retracement?The price created a new ATH as I said on the previous analysis and now got a rejection from 1.27 Fibonacci Ext on 120$ The price is testing the new daily support. How to approach? The price could have a retracement after the latest bullrun, and retest the 0.5 Fibonacci level or 0.618 on 80$. so IF and only IF the price is going to lose the support and had a breakout from the rising wedge, 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 🦐
Short
by InkyGrip
18
KCSUSDT is testing the weekly support. Reverse is coming? We made more than 12% since my previous idea, now the price is testing the weekly dynamic support after a bearish impulse. On the 4h timeframe, the price is testing the 0.5 Fibonacci level on the daily resistance How to approach? The price needs to have a new breakout from the daily and 4h resistance and retest the resistance as new support, 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
14
BTCUSDT is testing the 0.618 Fibonacci levelThe price is testing the 0.618 Fibonacci level as resistance after the sharp movement. the price could have a rejection from that area after the pullback and got a new bearish impulse. At the moment the market is going to create a new higher low in that area, as you can see on the left, this area is a confluence zone for Bitcoin. How to approach? IF the price is going to have a new rejection from that area, 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 🦐
Short
by InkyGrip
18
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
CAD/CHF: Morning Star CandlestickCanadian Dollar/Swiss Franc forming a morning Star Candlestick Pattern in the price action in H1 timeframe. I zoom up to watch very good the candlestick pattern in this it's a bullish signal to buy CAD. Also for reference, you can to look in 30 minutes timeframe (scalping) that we forming a good zone to buy right now and also this bullish divergence that we see in this timeframe 30 minutes and also in H1 we could to appreciate some in the RSI in H1. You will need to learnd how to read the price action in the trading chart, and more in Forex market when this market it's very manipulative. Now, to enter in the deep analysis, in H4 timeframe I draw the fibonacci level and CAD touch the 0.382% and make support as we see in H1 timeframe in the price action what happen now. Also for reference, I have a plan to update my previously par EUR/JPY what I made an analsyis that this could to happen when reach the 0.382% to take in note in Euro/Yen Japanese to predict their future to know what will happen with precision. Also, this it's the Daily timeframe and I draw too a fibonacci and we have that CAD reached the 0.382% with chance to buy in that zone to watch in H1 timeframe. Good luck in this posiiton, I will open when the market making the open the doors to put a buy market in the price and SL to $0.7508 CHF (23 pips) and potential target to hit $0.7621 CHF (90 pips) what I look a chance of Fibonacci confluence to entry in the best and perfect zone to buy
Long
by harisonhbn9718
6
Gold (XAUUSD) Further Update On Analysis And Trading PlanTraders, Gold fell from a level where a left over gap was. It did not even complete a W pattern and this possibility was discussed in the previous week's analysis. No Gold has broken below an important trend line which make it bearish so the bias is bearish but as always we look into and prepare ourselves for all the scenarios. In this weekly analysis for Gold we explore bearish targets and bullish scenarios. Presenting XAUUSD technical analysis update and forecasts. Trade what you see and ignore any hypes. Stay objective. Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade set ups and the updates of this analysis ✅ Don't hesitate to share your ideas, comments, opinions and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
OANDA:XAUUSDShort
by vikinsa
2
LRCUSDT the price is testing the 4h supportThe price created a triple bottom on the monthly support of 0.62$ 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