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Fibonacci Extension

Approaching a pivotal week for the S&PThe S&P500 / ES is sitting right at a critical point which I believe will break this week or next The weekly chart shows that the S&P is now above most key moving averages, including the 200 moving average (displayed in black), the 20 moving average (displayed in white) and the 50 moving average (displayed in yellow). Also it has broken above the upper resistance trend line (displayed in red), these are all obviously very bullish but a few major headwinds remain that may upset this upwards momentum. Price last week touched the 100 moving average (displayed in blue) but then rejected back down to end up finishing right at the Fib Extension 0.236 level. Ironically the 100 moving average has been a menacing level that has been difficult for the S&P to break through, 7 weeks ago and 21 weeks ago exactly the same touch and rejection of the 100ma occurred. Further to this we are about to enter one of the most bearish seasonal periods of the year for the S&P, I've included a seasonality indicator in my chart which shows 3 year, 6 year and 9 year tendencies and they all have exactly the same downwards pattern starting in February. The indicator below the Seasonality scan is RVI (relative volatility index), this is good for measuring both the volatility along with direction. Inline with what the market has been doing the past few years the RVI had been generally trending up and created a support line that was largely unbroken from end 2018 - Jan 2022, and since been broken the RVI is now showing a downwards trend and instead of a support line there is a resistance level over head that price is close to approaching. The last indicator on the chart includes Larry Williams Vix_Fix which had turned red recently (2 bars/weeks), signalling we are in historically low volatility period in the VIX, most traders know that large moves often follow periods of very low and/or contracting volatility. This last indicator also includes a display for the bond yield curve and this is currently shown in the maroon/deep red which confirms a fairly long period inverted curve which is also known as a precursor sign of recession and market sell off. The recent closed weekly candle was an indecision candle so this week that is coming or perhaps the one that follows should tell a lot about where the market will be heading over the course of the next few months A bullish bias would mean Price this coming week will disregard the seasonal bearish tendency and instead break above both the 100ma and the 0.236 Fib and close the week above these levels. A bearish bias would mean Price has closed back below the resistance level on the chart (both price resistance & RVI resistance) and price has tracked the normal declining seasonal pattern that plays out around this time of the year. I see more chart evidence of a coming decline than an incline but in any case we still need to wait for direction confirmation which should look like one of the above scenarios. So it is time to pay very close attention to the charts and In the week that follows the market direction confirmation signal I suspect we will see some large and fast moves of either sideline money coming into the market to cause one last blow off top before some kind of recession sell off later in the year or heavy selling as these key levels get rejected and the seasonal sell of takes hold.
CME_MINI:ES1!
by gary_trades
CABLE WEAKNESS INCOMING From a Technical standpoint we can see solid resistance forming in this current supply zone, which supports a RETEST of the SHOULDER that has formed around 1.19 Area. There will be a significant fight here however, as the downwards momentum of STERLING is very strong. Fundamentally the outlook for GBP remains very challenging as opposed to the US Dollar. Whereas Powell is going to realistically need at least one or two more hikes, the BoE is in a rather precarious position. With inflation peaking the Bank of England doesnt have much more room to keep pumping rates up, while other economic factors arent coming as strong in England as they are in the USA, with USA JOBS and consumer index keeping the dollar strong. Look for CABLE to retest lows at 1.19 and potentially dip further if price action allows it
Short
by NakedTrading4U
2
Buy Bitcoin at 17600 | Secret level Buy/long Bitcoin at 17600, because there is an unfilled GAP between the previous candles. It's the start of the huge parabolic uptrend, and the bulls will most likely defend this level! It looks like Bitcoin is going to reach levels above 25000 after we fill the GAP and complete this Elliott Wave corrective pattern (ABC). Currently, we are in wave B. Why should Bitcoin not fall below the 17600 level? There is no reason to go down because the majority of liquidity is exactly at this point. What is the target for wave C? Wave C 's target will be specified in one of my next analyses. Make sure you follow me! We need to use a FIB extension from Wave A -> B later to help determine the target. But at this point, we can speculate between 25000 and 39000. On the chart, I can see a strong impulse wave (A). This gives us a great chance for a continuation to the upside after we finish this correction. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. If you haven't seen my previous analysis, where I told you that Bitcoin could go to 10k, make sure to check it out right now! At this point, we need to be patient and wait for bitcoin to reach 17600. If we reach this level, it's a good idea to turn bullish again and buy some great altcoins as well. Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
87
BOIL: Piercing Line Bullish Reversal Visible on Weekly at 1.618BOIL; The 3x Bullish proxy for Natural Gas is showing Bullish Divergence at a 1.618 Fibonacci Extension after confirming a Piercing Line on the Weekly Timeframe at said level. If it plays out i think BOIL could come back up to fill some gaps, meet the moving averages, and see anywhere from a 200%-700% rise. I do however think USOIL will see a decline and that the two will move in opposing directions for awhile as that is something that they they tend to do. As a side note we also have a Daily Bullish 3 White Soldiers on Natural Gas itself as well as a Bullish Shark that can be seen here:
AMEX:BOILLong
by RizeSenpai
2
USDJPY CARRY TRADE UPDATEFrom a technical standpoint we can see both momentum and trend intensity (angle) increasing. The retests in USDJPY are becomming less frequent and not as deep. Chances of continuing to the fib extension area of 138 is extremely high. Fundamentally the new BoJ gov nominee is known to be very DOVISH, Japanese yen should continue coming down to earth. Which makes the long term outlook of this pair rather difficult to analyze, however from a medium term a trip to the next fib zone should be expected
Long
by NakedTrading4U
1
FTM/USDT 4HInterval Resistance and SupportHello everyone, I invite you to review the FTM chart in hand to USDT, taking into account the interval of four hours. First of all, with the help of blue lines, we will mark the inheritance trend channel, in which the price is currently moving. Going further we can go to select the places, for this we will use the Trend Fib Extension Trend tool. And here the first support is at a price of $ 0.45, we have the second support at the price of $ 0.41, and then the third support at $ 0.36. Looking the other way, we see that the price cannot break the first resistance zone from $ 0.48 to $ 0.50. However, if you can get out of the downward channel and pierce the resistance zone, the next zone is from $ 0.53 to $ 0.55, when the price overcomes it, the third resistance is at $ 0.58 and the fourth at $ 0.62. Please look at the Index Chop, which indicates that we have a lot of energy for the upcoming movement, MacD indicates that we maintain a local upward trend, while we have a relaxation to RSI and move in the lower part of the range, which may indicate upcoming growth.
F
by cryptodailyuk
1
Daily BTC 4HChart - resistance and supportHello everyone, I invite you to check the current situation on BTC in hand to USDT taking into account the interval of four hours. First of all, using the yellow line we will mark the local inheritance trend line, from which the price of BTC came out. Now we can go to the designation of support places in the event of correction. And Tutuj, first of all, it is worth marking support zone from $ 23296 to $ 22837, but when we fall below this zone, we have a second very strong support zone from $ 22,180 to $ 21334. Looking the other way, in a similar way using the FIB Retracement tool, we can determine the places of resistance. First of all, we will mark the resistance zone from $ 23707 to $ 23,984, when we manage to beat it, we have a second zone from $ 24301 to $ 24712. When we manage to overcome these two zones, we will go towards resistance at a price of $ 2,5251. Please pay attention to the Index Chop that indicates that most of the energy has been used, MacD indicator indicates the maintenance of a local upward trend, while the RSI we move at the bottom of the range.
by cryptodailyuk
Daily BTC 4HChart - resistance and supportHello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price is moving above the local downtrend line. Let's start with the support line and as you can see the first support in the near future is $23303, if the support is broken then the next support is $22829 and $22175. Now let's move to the resistance line, as you can see the first resistance is $23698, if you manage to break it the next resistance will be $23993, $24287 and $24711. Looking at the CHOP indicator, we see that most of the energy has been used, the MACD indicates a local uptrend, while the RSI is back to the upper part of the range.
by cryptodailyuk
NATURALGAS: 3 White Soldiers at Bullish Shark PCZAt the start of the year Natural Gas had a potential Bullish Shark setup at the minimum .886 PCZ and it ultimately failed to pivot from there but now we are significantly lower at the 1.13/1.618 Confluence zone of this Shark and are showing Bullish Divergence on the MACD as well as a 3 White Soldiers pattern on the daily. The bullish Target for Natural Gas remains to be $4.5 but it could go as high as $9.00. As for stops i'd put it below the second candle of the 3 White Soldiers Pattern which should be below the PCZ.
NLong
by RizeSenpai
SOL/USDT 4HInterval Resistance and SupportHello everyone, let's look at the SOL to USDT chart on a 4-hour timeframe. As you can see, the price is moving below the local downtrend line. Let's start with the support line and as you can see the first support in the near future is $22.52, if the support is broken then the next support is $21.27 and $19.67. Now let's move on to the resistance line, as you can see the first resistance is $23.57, if you manage to break it, the next resistance will be $24.25, $24.93 and $25.88. Looking at the CHOP indicator, we see that the energy is slowly starting to rise, the MACD indicates entering a local uptrend, while the RSI shows a quick return to the middle of the range.
by cryptodailyuk
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
The Magic of Fibonacci- Remember this older chart ( December 18 - 2022 ): - Please feel free to check it to understand the new one 👇👇 - BTC Finalized his movement at exactly 161.8% Fibo. - BTC did what it had to do at the perfection of the Fibonacci Law. - when the FUDs and Bad News not influence the trend. - No need any Magic Ball, we just have to follow the beauty of Fibonacci. - Everything is in Graph, this is a bit advanced trading. - This is one of the core's method of big hands Trade ( with Volumes ). - Feel free to DYOR about Fibonacci extensions and Retracements and learn about it. -- The more that you read, the more things you will know! Happy Tr4Ding !
COINBASE:BTCUSD
by thecryer
4
Gold ForecastGold Forecast Gold is in a bullish cycle, and we will look for long opportunities when we see a clear 3 legs-down corrective structure. Unfortunately, the connector (B) of the current (A)(B)(C) is too shallow and it does not retrace enough according to our strategy to allow us to enter when the price reaches the IZ (grey zone). We do expect the price will bounce from the IZ, but it can be only the connector from a deeper (W)(X)(Y), so we are not going to take this trade. What to do? 2 scenarios: -The prices resume the bullish cycle ->We should wait for the price to break the 1,960 level before looking for buying opportunities. -The price makes a deeper correction-> A new IZ will be created, and we will analyze its structure to check whether it is tradable or not. In any case, we will keep you updated on the TRS community Please remember to do not to risk more than 2% of your account on each trading idea
OANDA:XAUUSDLong
by TradingtheRightSide
Feb 24 CADJPY Short-term bear before LONG PositionMTF Analysis Monthly TF had a big push up from tapping the 38.2 Monthly Fib retracement. On a weekly TF, this retracement bounce on a Monthly 38.2 Fib is a bull run. This weekly TF bull run has run out right at the previous month's high, previous week's high, and prev day's high -- which was the best entry point had i done Wyckoff analysis earlier Anyway, since price has ran out of gas on this weekly bull run, it's actually about to break the weekly/daily trendline it's been bouncing off of. My bias is that price will retrace from a Weekly TF perspective to the 38.2 weekly fib level which also perfectly aligns with the previous week's low & an H4 imbalance/inefficiency. Fundamentals to support my bias. JPY had a good inflation YoY rate this morning. CAD had some wobly numbers from yesterday's economic updates.
Long
by RSC_FX
CABLE H&S UPDATECABLE has been very interesting lately. Sterling has surprised with decent data but the overall outlook for the sterling fundamentally remains the same, the market is expecting one more rate hike. The strong data however is creating a very RANGY environment for this pair. We saw this when the last bearish move was RETESTED all the way to the 68 fib zone. My bias on this pair remains BEARISH however, and i believe that the USDX will continue to control the OVERALL DIRECTION of this currency pair. From a short term standpoint we can see a HEAD AND SHOULDERS pattern forming, with the HEAD being the afformentioned 68 retest of our bearish momentum. this is a strong indication that the pair will continue to move downward, so long as our NECKLINE is protected by price action. Look for a formation of a RIGHT SHOULDER here potentially coming, before the true trend takes over. Trail your stops on this pair folks it has been swinging back and forth and i expect it to CONTINUE to do so.
Short
by NakedTrading4U
5