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Fibonacci Retracement

ETC/USDT Hello everyone, I invite you to review the ETC pair to USDT chart on a one-day time frame. Let's start by identifying the downward trend in which the price is moving using the yellow channels. Currently, you can see how we bounced off the lower border of the channel, which resulted in a 23% price rebound. Going further, we can see how the price reacted in our strong support zone from $21 to $18, when the price dropped to the lower border of the zone, we could see a strong rebound. However, if the price were to break down, the next very strong support is at $15.5. Looking the other way, we can determine resistances in a similar way, and as you can see, the price is currently struggling with the resistance at $22.5, when we break out of it, the next resistance is at $25.4 and then very strong resistance at the price of 29.8 $. On the RSI indicator, we can observe a movement at the lower end of the range, which in the longer term may translate into the expected upward price movement.
by cryptodailyuk
USDCAD → The currency pair is preparing to decline. Target 1.360FX:USDCAD for the last few days does not show any preconditions for a pullback or growth, forming a pre-breakdown consolidation relative to 1.372. The fall of the dollar can provoke a breakdown.... Technically, the price is returning to the range of 1.3755 - 1.3600. The bears are holding resistance, forming a descending triangle under the upper boundary of the range, which is generally a prerequisite for a fall. The only possible target in such a case could be the range support. According to the survey conducted by BofA among investors, more and more traders are betting on the decline of the dollar. The general policy of the Fed is also putting pressure on the index. The currencies may go into a strengthening phase.... Resistance levels: 1.3755, 1.3787 Support levels: 1.372, 1.3655 Technically, the currency pair is forming a local downtrend, and the intermediate patterns play the role of triggers for the continuation of the movement. Accordingly, I continue to expect that the currency pair may decline to 1.36 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDCAD ;) Regards R. Linda!
Short
by RLinda
8
XAUUSD: Confirm support at 2480 before deciding on tradingGenerally speaking, after a sharp rise, if there is no special news, it will repeatedly step back to the support to determine whether it is possible to continue to rise. On the other hand, the current price is at a historical high, and it is hard to say that it will not fall by about $100 like the last time it broke through the historical high, so our transactions must be treated with caution. If it continues to rise next, as mentioned above, it is necessary to determine where the support is. From the 1-hour chart, the support below is far away, and only 2480 is an important support level. This is the previous resistance area and near the previous high of last month. At the same time, this support was also verified when it was stepped back last Friday. In addition, from the Fibonacci retracement of this rise, 0.618 is also at 2480. After determining the support, we will know what to do next. Now the price is still at 2500. It is safe to wait for the support to be determined. If you are more aggressive, you can also make a small position Sell order before that. Once the support is determined, we can buy near 2480.
OANDA:XAUUSDLong
by AntonyTP
$SOFI | Allocation | Market Exec |Technical Confluences: - Price action has bounced off a 78% Fibo retracement - Below the 78% Fibo retracement is also been a Demand Zone which breaking it would like lead to a new all time low - For price action to move up higher, it needs to break above the Interest Zone (@ 61% Fibo) and also the resistance trendline - Upon breaking that, it's next resistance would be the Supply Zone area above Fundamental Confluences: - SoFi has shown impressive revenue growth but struggled with profitability, posting net losses due to high operating expenses and investments in growth. - The path to profitability is improving as the company scales and focuses on higher-margin products, but consistent positive earnings have yet to be realized. - They have historically reported negative FCF but recent quarters have shown improvements. The company’s ability to generate positive FCF will be critical to sustaining its growth without needing to rely on external financing. ----- I have previously allocated to NASDAQ:SOFI before as I feel this company is a high-growth potential with promising narrative as explained above. Will be happy to add if there is again a dip in the price. -----
NASDAQ:SOFILong
by weekendanalyst
XRP/USDT 4H IntervalHello everyone, let's look at the 4H chart of XRP to USDT, because you can see that the price has broken out of the descending triangle. Let's start by setting goals for the near future that we can include: T1 = $0.59 T2 = $0.63 T3 = $0.68 AND T4 = $0.71 Now let's move on to the stop loss in case of further market declines: SL1 = $0.56 SL2 = $0.50 SL3 = $0.47 AND SL4 = $0.42 Looking at the RSI indicator, we can see that we are staying above the upper limit, which may indicate an attempt at price recovery.
by cryptodailyuk
A better Weekly M_TOP chart Bitcoin Sorry guys, the last chart weekly was a bit busy on the eyes. Try this one. Analysis below. ****************************************************************************************** I wanted to take apart the bitcoin selloff due to the M-TOP that formed on the weekly chart in 2024. M-TOPS will always form as price-action increases and profits are locked in by traders buying at lower prices. In case you find it hard to read the chart. The price basically dropped a further 19% when the neck was properly breached by the 1 July weekly candle of 2024. If you know a thing or 2 about M-Tops.... the distance of the top of an M-Top structure to the neck-line should always be the same distance from the neck-line to the lowest price point. In this case it is about 19%. Finally the most recent weekly candle has rebalanced the previous bearish candle of 5 August by 50% fib retracement, sure price could retrace back down to 38.2% of that bearish pink candle & would in all likelihood gain strong support there. The 38.2% retracement of the last bearish 5 August candle is about 54,000 (BUY) But it's price action is very volatile even more so than Gold so keep that in mind. Scale in to buy with very low lot size within your margin affordability. Last Advice: Never hold onto a losing trade that is going against you. It will keep going against you.
EIGHTCAP:BTCUSDLong
by Easy_Explosive_Trading
1
ATOM/USDT 4HHello everyone, I invite you to a quick review of the ATOM/USDT chart, taking into account the 4-hour interval. As you can see, the price tried to break above the downtrend line, but quickly returned below it. After unfolding the fib retracement mesh, we can determine the support at the level of $4.49, then at the level of $4.28, while the third, very strong support is around $4. Looking the other way, resistance can be determined similarly and here we see resistance at the price of $4.62, then there is strong resistance at $4.95, and then at the price of $5.26.
by cryptodailyuk
AUDUSD 0.65718 -0.31% SHORT IDEA MTF ANALYSISHELLO TRADERS Hope everyone is doing great 📌 A look at AUSSIE from HTF - MULTI TIME-FRAME ANALYSIS AUDUSD DAILY TF * Thursday saw strong bullish momentum coming into play, But friday closed within the range. * The weekly & daily TF show we are still showing signs of a bullish move. * But seems we may see a reversal before continuation with the bears. * AUDUSD took External range LQ Mon. the 5th, looking for that internal range LQ to be taken. * We are trading in discount of the move,This is where I would be looking for long entries. * With PO3 looking to open bearish this week to confirm a move higher into premium PD ARRAYS. AUDUSD 4H TF * Looking for the week to open BULLIS into the 4h -OB because our HTF BIAS (PO3) Is bullish . * WEEK open I will probably be looking for long positions OPPORTUNITIES. * We will see what does the market dish. * 4H lookin for a push into the -OB (po3) to sell intraday . AUDUSD 1H TF * We saw a rally with the bulls, strong momentum to the upside 1H DEFINITELTELY bullish. * Looking at the 1H -OB, this is where I would look for LONG entries this week. * Should this PD ARRAY hold will be Short for the AUDUSD. * BASED on the price action served this week. HOPE YOU ENJOYED THIS OUT LOOK, SHARE YOUR PLAN BELOW,🚀 & LETS TAKE SOME WINS THIS WEEK. SEE YOU ON THE CHARTS. IF THIS IDEA ASSISTS IN ANY WAY OR IF YOU ENJOYED THIS ONE SMASH THAT 🚀 & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - I TAKE MY TRADES ON A INTRA DAY SESSIONS BASIS THIS IS NOT FINACIAL ADVICE TO EXCECUTE ❤ LOVELY TRADING WEEK TO YOU!
Short
by PULEMokhothu
6
XAUUSD: Return to the support area and consider whether to buyFriends in the channel know that my strategy has a high accuracy rate, even if it is not 90%, it is at least 80%. We achieved good results with our two short sales of gold yesterday. At the end, I made it clear that if the gold price breaks through the resistance range, it will test new historical highs again. Now the gold price is moving towards this prediction. Let me first explain that although I am bullish, the price is at a high level now, and I will definitely not choose to chase the rise. On the one hand, there will be 4 data released today, which has high uncertainty, and the market is very sensitive to data after the bombardment of data in the previous few days. Once the data does not meet expectations, it will fluctuate greatly. On the other hand, today is Friday, and it is hard to say that it will not fall by tens of dollars again like the previous Friday. Therefore, we must respond carefully today, just like I said before, "Don't do uncertain market, forced trading is very easy to lose money." This sentence is also for everyone! From a technical point of view, the Fibonacci retracement 0.5-0.618 line is in the range of 2459-2464, so I think the best place to buy today is here, or even lower. If nothing unexpected happens, I will intervene in this range. Resistance: above 2476 Support: 2450, 2430
OANDA:XAUUSDLong
by AntonyTP
GOLD → Attempting to recover inside a new range FX:XAUUSD declines after the CPI report to the local liquidity zone of 2440, forming a new trading range. But, buyers come back and try to hold the psychological zone of 2450 again. The bullish trend persists, gold is trading within the “Symmetrical Triangle” consolidation pattern Traders await US retail sales data for fresh signals on Fed policy. Although the annual inflation rate in the US slowed down for the fourth consecutive month to 2.9%, but these CPI figures have raised fears that the US Fed will decide to cut interest rate heavily next month. A weak US retail sales report could revive recession fears.... Technically, we should focus on the local levels inside the range of 2440 - 2477. Resistance levels: 2458, 2467, 2477 Support levels: 2440, 2431, 2320 Technically buyers are trying to keep the price from falling, but all the emphasis is on the news, favorable fundamental data can provide strong support for gold, which can use the energy for another retest of 2477, but an unpredictable report can intensify the sell-off and bring the price to 2425. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
16
NOTCoin → Pullback after a false breakdown. When is it going up?BINANCE:NOTUSDT on the background of the rally ( together with TON ) strengthens and updates the maximum 0.0129, thus forming a retest of the wedge resistance. The attempt is unsuccessful, the reaction is a pullback to the liquidity zone. Fundamentally interesting project in the medium and long term can still show good growth, but for this developers need to try. The prospects of Notcoin will depend on the innovations developed by the project, its marketing strategy and the state of the overall cryptocurrency market. Technically, a false breakdown of the wedge resistance is forming amid bitcoin's decline. The price may test the liquidity area of 0.0105 and then a retest of the resistance may follow. I do not exclude the fact that the support may be broken without any corresponding reaction, in this case we will wait for a retest of trend support. Resistance levels: 0.1294 Support levels: 0.01053, 0.00912 Accordingly, any breakout and consolidation of the price above the wedge resistance will be a strong signal for further rally. As long as the price has not left the range, it is worth considering trading inside this pattern. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:NOTUSDT ;) Regards R. Linda!
Long
by RLinda
10
BITCOIN → Why didn't we go above 70K? The reason for the drop...BINANCE:BTCUSD has been in consolidation for 5 months. The price makes another retest of the 70K resistance, but due to several reasons failed to pass this area. A correction inside the FLAG is forming From 70K resistance another correction to 64K has started. The reason for this is strong bullish sentiment after the US allowed bitcoin as a reserve asset. There is also a lot of attention to BTC because of the presidential race. Accordingly, the Market Maker eliminates the positive crowd (the price always goes against the crowd). And whales start buying the asset at cheaper prices. On Friday, the NFP report and unemployment (up 4.0% to 4.3%) influenced the price drop. Rising unemployment + rising inflation had a negative impact on the markets. It is too early to buy, we should wait for the slowdown of the movement and stronger data. Resistance levels: MA-50, 63250, 68570 Support levels: MA-200, 59300, 56500 Technically, the price is testing MA-200 and is squeezed above MA-50. If MA-200 fails to hold the price, bitcoin may go down to the lower boundary of the FLAG before a buyer can take over the situation. BUT, if the bulls hold MA-200 as support and manage to consolidate above 63300, a rise may be waiting. Overall, the fundamental background is very positive, but local economic data has a negative impact on the markets. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSD ;) Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
134
Gold rebounds to resistance zone and continues to sellGold market fundamentals: Yesterday's CPI data adjusted the market's expectations for the Fed's September rate cut, from 50 basis points to 25 basis points (bad for gold) The ceasefire negotiations between Israel and Hamas will be held in Doha, which will have an important impact on the situation in the Middle East (bad for gold) Although the Ukrainian army's advance to the Kursk region of Russia was counterattacked by the Russian army, the complexity of this situation has increased market concerns about security (good for gold) Gold market technical aspects: Referring to the Fibonacci retracement of yesterday's decline, 0.5 is 2459, 0.618 is 2464, today we can sell around two retracement levels Trading strategy: The multiple US data just released are bad for gold. Combined with the above factors, we mainly short today, in the retracement range of 2459-2459 Support range: 2440, 2430 Resistance range: 2476-historical high
OANDA:XAUUSDShort
by AntonyTP
EURUSD → Attempting to change the global trend.... FX:EURUSD after the retest of the trend resistance is forming a correction, which is correlated with the growth of the dollar index. By the nature of the movement, the currency pair is in the bull market phase.... False breakdown of the symmetrical triangle resistance. The fundamental background for the currency pair is relatively positive. The dollar will continue its decline in the future, which is favorable for the euro. In this case, after the end of the correction, it is possible to retest the resistance with the aim of breaking through and further change of the global trend from neutral to bullish. Technically, the focus is on 1.0916 and 1.095. Breakout and price consolidation above this zone will be the beginning of further bullrun. Support levels: 0.5 fibo, 1.087, 0.7 fibo, 0.79 fibo. Resistance levels: 1.0916, 1. 095 Both technically and fundamentally, we have positive preconditions for the growth continuation. The correction may take a little longer, but it is worth paying attention to the key zones indicated on the chart. Rate, share your opinion and questions, let's discuss what's going on with ★ EURUSD ;) Regards R. Linda!
Long
by RLinda
3
Gold SellAs we were watching gold very closely and it has broken down its bullish channel and also its global Resistance became Support lately now it has become support become resistance , we have also exprienced heavy news day today and seems like gold has decided it direction as we have seen a Bearish Momentum candle which has broken the support below now we are waiting for a proper price action as retest is almost complete over gold and we will be Bearish again for next week in gold so fingers crossed lets wait and watch
OANDA:XAUUSDShort
by Wakeel_Saab
1
$PFE | Allocation/Buy Trade | Market Exec |Technical Confluences: - Price is in Oversold Conditions in D1 timeframe - Price action bouncing off 150% Fibo Extension - Price is trying to go back above the Interest Zone to give some bullish momentum to the stock Fundamental Confluences: -Regardless how bad the negative rumours are ongoing about the side-effects from Pfizer; they are still considered a strong market leader in the Pharma industry - They had a good response on a testing of their recent respiratory drug - Value? ---- Health sector in your Portfolio will never be wrong with the global aging population. I am putting this trade on as either into my Long-Term Portfolio or Swing trade for $PFE. Depending on how market develops, I may decide to hold this bag and allocate more into it at the 178% Fibo Extension levels or cut my Buy position as shown. -----
NYSE:PFELong
by weekendanalyst
$EURUSD | Sell Trade H4 | Execution | Technical Confluences: - Stochastics just reversed off Overbought conditions in H4 - Price bounced off 123% Fibo Extension levels which coincides with a Supply Zone from before and also the top of a small Parallel Channel - Looking at it move towards at least the lower end of the Parallel Channel Fundamental Confluences: - With so much of rate cut hype priced into the markets, it seems that market will start to consolidate and start profit taking. - There are a few speakers who came out to say they don't seem to be in a rush to cut like what the market expect. ----- Taking my 1st position for this FX:EURUSD sellb trade. Targeted trade entry and stops can be seen in the highlighted zone. Blue for Profit Target and Orange for Stop Loss Target. Risk/Reward ratio of 2.1. DYOR. -----
Short
by weekendanalyst
ETH/USDT 4H chartHello everyone, I would like to invite you to a quick review of ETH/USDT, taking into account the 4-hour interval. As you can see, the price, despite the nice rebound, still remains below the downward trend line. Moving on, we will move on to determining support and here the price is currently bouncing off the support at $2,427, then we have strong support at $2,204. Looking the other way, you can see how the resistance at $2,805 rejected the sudden upward movement, only when it overcomes it will it move towards the resistance at $2,987, and further towards the very strong resistance at $3,237.
by cryptodailyuk
1
GOLD → ATH retest before CPI. What should we expect?FX:XAUUSD is defending the psychological level and support zone at 2450 and testing key resistance at 2477 for a breakout, ahead of 2483. All eyes are on key US CPI inflation data Traders are still expecting a softer CPI report after a larger than expected decline in PPI data released yesterday. A softer CPI figure may confirm forecasts of an aggressive Fed rate cut, which will intensify the USD sell-off. This situation may trigger a northward movement in gold (strengthening the price) In addition, the price of gold continues to find support in the geopolitical tensions in the Middle East, the situation is still heated to the limit. Technically, the price continues to head towards 2477-2483. Retests of resistance for a breakout of the level continue. Resistance levels: 2477, 2483, 2500 Support levels: 2458, 2450 On high news volatility, the price may form a quick breakout and rally or long-squeeze before rising further. BUT, unpredictable news may break the market structure, in which case the price may head beyond 2450. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
18
GOLD → Pullback from 2477. What's next? News ahead... FX:XAUUSD strengthens to an interim high and hits strong resistance at 2477.5. Gold is not ready to break the boundary yet and is forming a pullback ahead of the news - PPI to be released at 12:30 GMT. Fundamentally, traders are still watching the situation in the Middle East as there are rumors of different nature every day. If the conflict escalates, it will only increase the interest in the metal. Also, traders are waiting for PPI (one of the key inflation reports) as well as CPI (to be published on Wednesday) to determine if the US Federal Reserve is preparing a significant interest rate hike after the weak employment report. Technically, 2477 and 2458 are worth watching. If price starts to return to resistance and consolidate near the level, then a breakout is worth waiting for. But a break of support at 2458 will send the price down to the zone of interest before a possible rise. Resistance levels: 2477, 2483 Support levels: 2458, 2450, 2439 Key focus on news and market fundamentals that could set a medium-term tone for the dollar and gold. But, technically gold is strongly bullish... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
14
ETHEREUM → A train can become a rocket. Key zone 2700 - 2800 ↑The market is buying back BINANCE:ETHUSDT after a big fall due to fear. Bulls kept the price below 2000 and now they are trying to keep it above 2500. The overall bullish backdrop is still in place..... A very promising technical situation is forming on W1. If the price returns to the global sideways range, we will have good prerequisites for a rise to 4000 - 4800. Fundamentally, everything is the same, the general background is bullish. The liquidation (strong downward movement) and the subsequent active buyback indicates that the market is free of unnecessary traders and the train can now move in the right direction, it remains to get to the key station before departure. The key stations are the 2717 - 2817 area. If the bulls can overcome this resistance and consolidate above, thus forming a strong support area and an intermediate bottom, then the market will have an important and promising liquidity target above 4000. Support levels: 2518, 2425, 2400 Resistance levels: 2717, 2817 The whales continue to buy the asset after a strong fall, despite the fact that the chart looks bearish, there are key prerequisites indicating that the big players are still bullish. The focus is on the key resistance at 2717. After Friday's test and pullback, the price is back to the level, which increases the chances of a breakout. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:ETHUSD ;) Regards R. Linda!
Long
by RLinda
8