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Fibonacci Extension

bullish flag can make another leg up for ETC#ETC/USDT $ETC had more than 140% increase since my analysis from 6/12/2022 and broke out from descending trend line. 🐮 now price shaped a bullish flag pattern and we just need a confirmation of the weekly candle to close above the channel. so if we have this confirmation price can increase toward 1.618 fib level of last swing high (which is between upper trend lines) to complete flag Pattern and also it can be AB=CD pattern that can be complete.
Long
by parissap
10
AUDNZD CONSOLIDATION BREAK Pair: AUDNZD Timeframe: 1D , 4H Analysis: Round number level, trend line, volume profile, support and resistance, trend channel, consolidation period ————— Key Takeaway: Been consolidating by this level of support for quite some time now and we are seeing alot of big wicks on top of recent candles indicating the rejection of bullish momentum. We need to see a close below this level of support before we can enter short ————— Level needed: need a close by 1.11260 ————— Trade: Short RISK:REWARD 1:10 ————— DO NOT ENTER OUR SETUPS WITHOUT CONFIRMATION
Short
by TheGoldRoom
My Elliot Wave theory on BitcoinHi all, Here's my count on Bitcoin, and my thought about the current situation : INDEX:BTCUSD On the long term, prices made a perfect count in five primary waves (three motive and two corrective waves), that build the very first cycle wave . Currently, we are in the corrective phase, or wave 2 of the cycle . This wave 2 is composed by three primary waves, A, B, C . According to the structure of the current wave (wave A), we are in a Zigzag , a corrective pattern composed by 2 motive waves , A and C. These waves are subdivised by 5, 3 and 5 intermediate waves. By looking at the chart, we already made 4 intermediate waves and we are now in intermediate wave 5 of primary wave A . The current target of this final wave is the 161.8% Fibonacci ratio , at 16,665$ . Let's assume that this target is the good one and prices bounce on it, and build primary wave B . This wave is subdivised of three intermediate waves , ((a)) , ((b)) and ((c)) . Primary wave B retraces around 50% and 85.4% of primary wave A . (Fibonacci retracement) Again, the most realistic target is the golden ratio (61.8%) . So the top of primary wave B could be at 39,466$ . Finally, prices enter the last primary wave, wave C . This one have three main objectives, 61.8% , 100% and 123.6% of primary wave A . You have these three targets written on the chart. It will depend on the market psycology and the strenght of the bears during this phase. And the end of this pattern would be between fourth quarter of 2023 and first quarter of 2024.
INDEX:BTCUSDShort
by Augustus1st
TRB trend lines and fib levels#TRB/USDT $TRB touched 0.5 fib level of weekly swing down and dropped to support zone which is the same with support zone around $20. 🐮 holding above this support zone, and after several days of sideways move between $30 and $20, it can head up to descending trend line which is the same with 0.5 fib level again. break out from this level will increase price to resistance zone around $60. 🐻 breaking down from support zone will drop price to descending support around $3!!
Long
by parissap
4
GOLD - Long-term buy opportunity (end of ABC in primary degree) Hello traders, today we will provide a long-term trading idea. It is that long-term that you could use it as an investing idea and buy gold (the asset, not the derivative) and hold it. The chart shows you the corrective pattern that started in July 2020 is in the last stages and it can be ending soon. The price is now in wave 5 in the intermediate degree (blue), which will end the whole corrective structure ABC in the primary degree (green) and after that, we expect the motive bullish wave 5 in the cycle degree (orange) will start. We will be monitoring this asset when the targeted price for this correction to end is reached (1672 is the level). From this point, we expect that the gold will end the corrective cycle at any time and will start a rally. The zone where this turn would happen is from 1671 to 1373. It is a huge zone, this is due we are dealing with a daily time frame structure and even though the size of the zone is large, it is also the potential target. We cannot define precisely the target yet but it would be above the 2200 level. We do have a trading system that reduces a lot the size of the zone (not the target, therefore, the R:R ratio increases a lot). If you have a trading system (supply and demand zones, volume profile, set of rules of indicator…) you can apply it when the price is inside this green zone and the chances the trade will succeed will increase a lot. Important note: it is a daily zone, use the signals that trigger the trade according to it (a 5 minutes signal probably will not be strong enough to turn a daily structure) Reasons why we believe it is going to work: 1- The Corrective structure is clear and the chances that this ABC structure becomes an impulse and stops us out are, at this moment, low. We will monitor it in any case and update you. 2- The USD cycle- The USD is approaching the end of a cycle where it has been dominated by USD strength. When this cycle ends, a cycle where the USD is going to be weaker will start and this will help all the commodities priced in USD, and of course, gold is one of them, to have a bullish cycle that could be pretty powerful. This trade is long-term, so we should not expect a rally in gold in the following days, it can take a few weeks for the gold to end the corrective structure and also for the dollar to end the bullish cycle. 3- The FIAT currencies situation. Central banks have been continuously printing money which has devaluated, at least in common people’s perception, the value of the currencies. This can push investors and common people to buy gold to try to keep their savings protected from a potential hyperinflation of the currency of their savings. 4- Gold is not infinite– The quantity of supply of gold is not infinite and it is difficult to be massively manipulated. Therefore, gold will always have value and these supply constraints will make the gold more difficult to have a significant collapse in the price. In addition, gold has the perception of a value preservation asset. So, in case of an economic crisis (which is predicted in some parts of the world), it can increase the demand for gold. Always keep in mind that risk management is, at least, as important as the entry-level or the SL. Remember the quote “If you do not manage the risk, you will not have any risk to manage” The market is always repeating the same type of defined structures. There are only two main wave types: the motive wave and when the motive wave ends it starts a corrective wave. Within them, there are only 3 motive waves structures (Impulse, leading diagonal, and ending diagonal) and 5 main types of corrective structures (ABC, WXY, Flats, triangle, WXYXZ (triple correction)) Learning them and being able to spot them in the price action graphs will completely change the way you trade as these structures will provide entry point areas, invalidation levels, and targets for the trade. Have a safe and profitable trading day Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it is only the explanation of what we are going to do and it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:XAUUSDLong
by TradingtheRightSide
Bitcoin - Let's Talk Fibonacci 📈Hi Traders, Investors and Speculators 📉📈 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩‍🏫 Bitcoin is still facing critical selling pressure. What you see on the chart, is the Macro Fibonacci retracement and trend based extension. This is set up by using the first high BTC ever made, and the lower point is the first low after that high. Fibonacci can be especially useful from the Macro perspective, as certain levels seem to be critically important such as the .618's. The price trading right on top of a level is usually a sign of weakness, as it reflects that there is insufficient buying pressure there OR that the selling pressure is still high. Even though we have seen some positive price movements from the 1 Level, we also see a clear M-Pattern and rejection at this point. There is obviously still a large supply zone here, and the price will be forced lower to find more buying pressure. Please see the two posts at related ideas on two proposed bottoms👀 Looking for altcoins that are currently trading bullish? Check out these coins : I hope you enjoyed this post today! Please give us a thumbs up 👌 _________________ 👀 Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎 👍Hit like & Follow 🔔 We thank you for your support ! CryptoCheck
Short
by CryptoCheck-
34
EURNZD 3 VITAL LEVELS OF RESISTANCE Pair: EURNZD Timeframe: 1D , 4H Analysis: Round number level, trend line, volume profile, support and resistance, pattern pattern, ascending triangle break ————— Key Takeaway: Looking for bearish setups only for this pair. We have hit three vital resistance levels (high volume level / dynamic resistance / top of pennant pattern). Our profit target is at the support of our pennant pattern ————— Level needed: need a close by 1.62470 ————— Trade: Short RISK:REWARD 1:6 SL: 40 TP: 240 ————— DO NOT ENTER OUR SETUPS WITHOUT CONFIRMATION
Short
by TheGoldRoom
BTC Fibonacci analysis#BTC/USDT $BTC dropped and broke down from ascending support line and now price is at the golden zone between 0.5 and 0.618 fib levels of the last swing high. 🐻 breaking down from the next ascending trend line and the golden zone will continue down trend to support zone around $19k and maybe lower to touch 1.414 and 2 fib levels!! 🐮 holding this golden zone as support and closing a daily candle above ascending broken trend line, can change the game for bulls, and price heading up to touch the resistance zone around $28k.
by parissap
6
EURUSD sell zone Yesterday, we said that the pullback has already started Today, we will see when is it going to end and the potential sell zone. What we want to see today is another push higher to 1,0027-1,0101. Once we see price around those levels, we want to watch out for possible exhaustion in price and that will give us a signal for potential short positions. Targets will be below 0,9900. Once we see that reversal to the downside, we then will be able to determine specific tp levels.
by ForexTrendline
4
NVDA: Will pull back soon, but bullish longtermNVDA provided a textbook 5-wave impulsive move off the low. The 3rd wave tagged the 1.618 extension and the 5th wave has reached the 2.0 extension. This move has been very clean. However, the fibonacci extensions have been reached and now momentum is beginning to fade (see MACD). That being said, I expect NVDA to pullback over the next 2-3 weeks. I would like to see price retrace to the .5 - .618 retracement levels, filling the gaps in an A-B-C pattern, followed by a push back above the Wave 1 high. If this happens, the price target for wave 3 will be in the 240-250 range.
NASDAQ:NVDALong
by TomDaSpankEngine
BTCUSD Bullish idea (The only one you need)-To enter a bullish bitcoin trade, you must wait for the price to do some things. -I placed the demand levels on bitcoin. The first step is to wait for the market to get above the demand areas, at least 2 of them. -After that, you need to wait for the price to retest those areas and you can expect a raise in price from there. The market bullish areas became supply when the price got below them, that's why we need to wait for the market to transform those areas into demand again, after doing the stop hunt into the demand areas. -When the market gets above, I recommend waiting for a retest on the m15, but, if you can, is better to enter with highs RR ratios whenever the market gets above this demand levels
BITSTAMP:BTCUSDLong
by EduD_NoFearTeamNFT
Evening Update: Was Leonardo Bonacci an Ancient Alien? Trading View dictates I must post a chart to start a discussion. The above chart is Bitcoin. It’s going to $15,000. You want details...Follow me. Now, let’s talk about other things. Who is Leonardo Bonacci? Commonly referred to as Fibonacci, also Leonardo the Traveler from Pisa. The man was an Italian mathematician and considered to be "the most talented Western mathematician of the Middle Ages". The “Middle Ages” when the abacus was the iPhone 15, he invented a numerical sequence that would change the perspective of the world. He was commonly called, Fibonacci, by the 18th century Franco-Italian historian Guillaume Libri and is short for filius Bonacci (son of Bonacci). He also introduced Europe to the sequence of Fibonacci numbers, and I often wonder how does a person come up with such an invention. The Fibonacci sequence is displayed best throughout nature. Did you know your arms are exactly .618 of your total height? Thanks Leo. That’s one of many areas his numerical sequence can be applied to anatomy, also physics, astronomy.... etc. So, it comes as no surprise that his numerical sequence applies to crowd behavior....aka Trading Markets. I see so many posts on Tradingview.com that deal with Macro Economic events and education. They’re detailed and thought provoking. Posts like: “How is China’s economy affecting the US inflation Rate”?, “Is the dollar’s reserve currency status in jeopardy”? Great Articles...all of them. 100% worthless in trading. There is not 1 person on TV who wants to be educated on Macro Economic events...not 1. We invented something called college a while back...some would be traders should look into that. I would venture a guess that 100% of the subscribers on TV and my followers included want to find ways to make money, grow wealth and make the markets work for them. Not one of my 700 followers have ever commented or DM'd me to ask about the Money Multiplier Effect...or the downside of abandoning the gold standard. They ask questions like...is now the time to go long....is now the time to go short. So, here’s the truest thing any author here on TV will ask you? Can you point to 1 macroeconomic event that made you money in the market? I mean when it comes to the great recession based on a financial liquidity issue caused by (MBS) Mortgage backed Securities and (CDO’s) Collateralized Debt Obligations only 1 guy on Planet Earth made money from that. Not only did they make a movie about him starring Brad Pitt, it never addressed the travesty of how the other 7 BILLION people on planet earth never saw this coming. Well, I exaggerate. I know several of my Elliottition mentors who foresaw these events months in advance. There’s not one news article on them. No movies. No fanfare. The Macro WILL NEVER have a place in any successful trader's tool box. But 1 edge each of my mentors had....was Fibonacci. To master Fibonacci is to peek behind the curtain of the universe. To this day, I’ll forecast a security going to a certain price and to watch price go there and reverse, and it still amazes me. (I've been doing this for a long time) It never gets old. I’ve seen it happen a thousand times and each time is still so powerful, so enlightening. So much so that I’m convinced Fibonacci could not have been from this world. He had to be an alien who visited us and dropped some value while he was here. Still today, his numerical sequence doesn’t get the attention it deserves and all in an age with no computers, no calculators.... none of that. Just a guy's mind and some stones. So, the next time you think the jobs report is going to be great and you position yourself accordingly and the report is great. It’s stellar....but the market goes down. Realize that MACRO events are the death of trading for a profit. Study Fibonacci instead. Best to all, Chris PS: I’ll be on vacation from 9/1-9/15 and will not be posting during that timeframe. I may be able to respond to DM’s.
FTX:BTCUSD
by maikisch