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Fibonacci Retracement

GOLD → Are the bulls ready to break through 2430 and go ↑ ? OANDA:XAUUSD on the background of weak dollar and favorable fundamental background realizes the accumulated potential after breaking through resistance. The price is testing the global resistance of 2431. The market is bullish again, which was supported by economic news, mainly related to inflation. Technically, the gold is again interested in strong buyers after the correction phase, which ended at the moment of the beginning of the realization of the bullish pattern, as well as the confirmation of the bulls. In general, this movement can be continued, as the general background is favorable for the gold market In the coming week traders are interested in such news as: - Powell's speech on Monday - FOMC meeting minutes on Tuesday - Initial Jobless Claims on Thursday Resistance levels: 2417, 2431 Support levels: 2400, 2375 Technically, the price may test the ATH on Monday, but a bounce or a false breakdown may be formed afterwards, which will lead to a small correction. A quick retest of 2431 could lead to a breakout and further growth Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
11
Vedanta's Panja-Boodha ShaktiVedanta is in limelight for 2 major reasons. 1. Upcoming Vertical Demerger of Vedanta into 5 different stocks (The Panja-Boodhas) - Apart from the technical breakout levels, the demerger is going to lead to a humungous gain to the shareholders when each of the stock is going to rise to higher levels individually 2. The 16 year Long Box Pattern Consolidation and Breakout A picture is worth 1000 words... Vedanta ATH 495 created in 2008 me. 16 years ka vanvaas se bahar aane ja time hai abhi. Long Term View: Quarterly Chart - The Box Pattern has a Depth of 435 Points which will become the Long Term Target after Breakout above 495 - the previous ATH level. Yes it will struggle a tiny bit when it tests 495 but that's not consolidation Long Term Target: 930 Short-Medium Term View: Monthly Chart - Price has recently Broken out of a Rounding Bottom Pattern above 440 for target of 690 The Big Rise from 2020 and subsequent retracement made in 2022 is at Fib 0.618 level - The Golden Ratio which is a strong sign of powerful bullish rally Short Term Target: 585 (Fib 1.0 Level), 690 (Fib 1.272 + Rounding Bottom Target) Medium Term Target: 825 (Fib 1.618) Reading Books is good, but kabhi kabhi theory chodke kuch picture bhi dekho. Books ka Black and White Print me Hariyali nahi dhikhayi deta. Samaj liya ? 😍 Disclaimer: 3+ Years Teaching Experience in Stock Market - Technical Analysis, Behaviour Analysis, Advanced Patterns, Emotional Management, News based Trading... We are NOT SEBI Registered and Our focus is NOT providing Buy/Sell Recommendations/calls. Primary Objective is to provide detailed analysis of how to review a chart, explain multi-timeframe views purely for Educational Purposes. We strongly suggest our followers to "Learn to Ride the Tide irrespective of its Side" *** Important *** Consult your Financial Advisors before taking any positions If you like our detailed analysis, please do rate us with your Likes, Boost and share your comments -Team Stocks-n-Trends
NSE:VEDLLong
by Stocks-n-Trends
BNB/USDT 4HInterval Chart ReviewHello everyone, let's take a look at the MKR to USDT chart on a 4-hour time frame. As you can see, the price broke sideways from the downward trend line. Let's start by determining the support line and as you can see, the first support in the near future is $2,658, if the support is broken, the next support is $2,274 and $1,777. Now let's move on to the resistance line, as you can see the first resistance is at $3,023, if you manage to break it, the next resistance will be at $3,438, then at $3,727 and then at $4,105. Looking at the RSI indicator, you can see that we are approaching support, which may result in another attempt to rebound the price, and the STOCH indicator shows that there is still some room left to go down before it increases again.
by cryptodailyuk
BTC/USDT 1HInterval Chart ReviewHello everyone, let's look at the 1H BTC to USDT chart, as we can see the price is moving in an upward trend channel, defined by white lines. Let's start by setting goals for the near future that we can include: T1 = $67,339 T2 = $68,015 T3 = $68,493 AND T4 = $69,168 Now let's move on to the stop loss in case of further market declines: SL1 = $66,722 SL2 = $66,186 SL3 = $65,836 SL4 = $65,370 AND SL4 = $65,370 Looking at the RSI indicator, we can see a movement towards the middle of the range, which still leaves room for a price increase, and when we look at the STOCH indicator, we can also see room for an upward movement.
by cryptodailyuk
3 Best Fibonacci Tools For Forex Trading Hey traders, In this article, we will discuss 3 classic Fibonacci tools you must know for trading different financial markets. 1️⃣ Fibonacci Retracement Fib.Retracement is my favorite fib.tool. It is aimed to identify strong horizontal support and resistance levels within the impulse leg . We draw this tool based on the high and low of the impulse (from wick to wick) and it shows us POTENTIALLY strong structure levels determined by Fibonacci numbers . Common Fib.Retracement levels are: 0.382, 0.5, 0.618, 0.786 . Once one of the levels is reached, wait for a confirmation before you open a trading positions. Above is the example of an application of a fibonacci retracement tool based on a bearish impulse leg on EURUSD. 2️⃣ Fibonacci Extension Fib.Extension indicates strong horizontal support and resistance levels beyond the impulse . Similar to Fib.Retracement tool, Fib.Extension is drawn relying on impulse's high and low (from wick to wick) and it shows POTENTIALLY strong structure levels where the consequent impulses may complete based on Fibonacci number. Common Fib.Extension levels are: 1.272, 1.414, 1.618 . Once one of the levels is reached, wait for a confirmation before you open a trading positions. Above is the example of fibonacci extension tool based on USDJPY based on a bullish impulse leg. 3️⃣ Fibonacci Channel Fib.Channel shows strong vertical supports and resistances (trend lines) within the channel . The tool is drawn based on the trend line of a valid parallel channel (based on wicks) and it shows POTENTIALLY strong trend lines from where the market may retrace . The trend lines within Fib.Channel rest on 0.382, 0.5, 0.618, 0.786 Fib.Levels . Once one of the levels is reached, wait for a confirmation before you open a trading positions. Above is the example of a fibonacci channel on USDCHF. Remember that Fibonacci's are simply tools in a toolbox. In order to use them properly, you need to build a trading system around them, test it and confirm its efficiency.
OANDA:XAUUSDEducation
by VasilyTrader
3
Bitcoin - Life time opportunity, buy now, new ATH soon!Bitcoin is forming this bullish flag pattern on the daily chart, and we have a lifetime opportunity to buy Bitcoin at the bottom of the flag. What's more, we have a long-term trendline starting in October 2023, which is another reason to buy Bitcoin in confluence with multiple technical indicators. A lot of people are calling for Bitcoin winter, but I don't think so. I see the recent price action as a great buying opportunity on the other side.  It is always important to do an Elliott Wave technical analysis to see the full picture. From my point of view, Bitcoin has formed and completed the WXYXZ triple-three corrective pattern inside this bullish flag. What you want to do as a trader is trade a breakout above the flag or buy at the bottom of the flag, potentially trading a breakout of the last Z wave. Another reason why I think Bitcoin is bottoming out is the chart of Ethereum. This is probably one of the best indicators for Bitcoin, so we cannot miss doing analysis on it. You can check out my analysis of ETH in one of my previous posts, but I can tell you now that the crash was pretty strong (more than 30%) and we are in a bull market, so we definitely want to buy the DIP and prepare for another huge wave to the upside. Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Long
by Xanrox
87
Bitcoin - new ATH soon. Best time to buy nowBitcoin looks very strong at this moment. We can see that the price is breaking out of the descending parallel channel on the daily chart. The price is above the channel and has already retested the downward-sloping trendline. We should see a strong pump from the current price.  Why is bitcoin pumping? From a technical perspective, it's pretty easy to say. Take a look at the previous price action. We have a false breakout below the key levels; it was a bear trap created by market makers to get as much liquidity as possible for their huge orders, as they cannot simply do so whenever they want.  From the Elliott Wave perspective, there is nothing bearish at this moment. I see that the corrective pattern WXYXZ has been completed, and we are starting a brand new impulse wave to the upside. The next target is around 71k because we have his important red trendline, so make sure you are aware of it. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
BITSTAMP:BTCUSDLong
by Xanrox
43
GOLD → Consolidation above 2380 will cause a rise to 2400FX:XAUUSD is consolidating above the important for the market level of 2378. Bulls are trying to keep the defense above this zone in order to continue growth on the background of weak dollar. Gold is recovering after leaving the correction channel. The price is once again near its highs (ATH), within the current move the price could quite possibly renew it if the fundamental background does not change next week. At the moment, the main objective of the bulls is to consolidate above 2378-2385 in order to go higher: to 2400 and then to 2430-2450. Support levels: 2378, 2371 Resistance levels: 2400, 2418 Within the current trend we may see a continuation of the trend. There is no strong news on Friday, so the movements may be calm. I am waiting for the resumption of growth from 2378, or from the channel support. Regards R. Linda!
FX:XAUUSDLong
by RLinda
10
BITCOIN → Why did it drop to 60K? When do we expect 75K?BINANCE:BTCUSDT has been showing bullish prospects all week and has been consolidating above key zones, preparing to go higher, but on Friday the market changed to bearish and there is a reason for that. BTC lost 3.3% on Friday and is currently painting a bearish picture. There are two reasons for this: Inflation related news, basically proving that inflation is still high at 3.3-3.5% Expiration of contracts for 1.15 billion. Put / Call ratio amounted to 0.64. Maximum pain point at the 62000 level. Liquidation of huge volume and consequently bearish momentum. Technically, everyone is interested in one important question - when will the correction end? Bitcoin continues to consolidate and collect liquidity at the expense of buyers. The market can test the key zones: 59300, 56500 and even there is a probability of testing 52900. But, the growth needs reasons and traders are still in the waiting phase. The confirmation of the end of the correction, at the moment, will be the breakthrough of 64500-67500 and price consolidation above these zones. In this case, the global sentiment will change to a strong bullish one Resistance levels: 61500, 64500, 67250 Support levels: 59300, 56500 Consolidation continues and at the moment the price is heading towards support. A false breakdown of one of these areas is possible before further growth. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
46
Alikze → LINA | Pullback is broken into the swingtime D1 and W1, after supporting in the green box area and breaking the swing and pullback, it is now ready to continue growing and has the ability to move to the specified areas. The most important resistance in the weekly time is the range of 0.012210, the breaking of which and its high stabilization will continue the upward trend until the area of the weekly supply zone. 🟩Sup:0.009155 ⛳️Tp 1:0.012210 ⛳️ Tp2 :0.012980 - 0.013730 ⛳️ Tp3 :0.027460 - 0.030520 ------------------ Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️
Long
by alikze
GME: Continues To Hold the Bullish 0.886 Position and 200-SMAThis is a little bit of an update and reminder that GME is still holding above the 0.886 retrace and the 200-month Simple Moving Average with Hidden Bullish Divergence within a Falling Wedge. We've held this level for months and it still appears that it can Bullishly Breakout of the wedge at any time, which should lead to some extreme upside between $60, all the way up to 134.77. But given how long it's been I'd say on a shorter term timeframe basis, just to be safe, $25 would be the first profit taking target. It is also worth noting that on the monthly GME confirmed a Bullish Morning Star after the test of the 200-Month Moving Average.
NYSE:GMELong
by RizeSenpai
1
📈 Bitcoin Analysis: Market Decision-Making Point 🧐🔍Bitcoin is at a critical juncture that could signify either the start of a new upward trend or a rejection at resistance levels. As the most popular coin in the market, Bitcoin needs no introduction. Even a single day of activity in the market would make one familiar with Bitcoin and its significance. 🧩Let's dive into the analysis and explore the potential scenarios. We will analyze the 4-hour time frame, focusing on futures trading. 📚Bitcoin is currently within a large range box between $73,300 and $60,976. Recently, there was a false breakout below this range, but buyers regained control, pushing the price back into the box. This indicates strong buying pressure, as sellers failed to maintain lower prices despite initial bearish momentum. Recently, buyers broke through the $64,637 resistance and are now facing a stronger resistance at $66,828. 🎲Despite approaching this resistance, the market shows signs of trend weakness, as indicated by the red candles and decreasing bullish momentum. After reaching the 0.382 Fibonacci retracement level, coinciding with a pullback to $64,637, the price rebounded, yet the green candles lack the volume to sustain a strong bullish trend. 🔫Rejection from $66,828: If the price gets rejected at this level, we could see another pullback to the 0.382 retracement level and potentially a deeper correction to the 0.618 level, a significant Fibonacci retracement level that has previously acted as support. Curved Ascending Trendline: Although an ascending trendline is present, it’s less reliable due to its formation within a range and having only two touches. Nonetheless, it will be monitored for reactions. 🪄With the current momentum favoring buyers, a breakout above $66,828 would be an entry signal for long positions, aiming for a target of $73,305. However, since we are in a low wave cycle (LWC) with a ranging high wave cycle (HWC), quick profit-taking is advisable. The best-case scenario would be to risk-free positions at a 2:1 or 3:1 risk-reward ratio, hoping the HWC also turns bullish.The primary long trigger is at $73,305. Breaking this level could introduce new bullish momentum and potentially mark the start of a bull run. 📉 If the SMA25 reaches the candles and the price continues to range, a break below $64,637 could be an opportunity for a high-risk short position with quick profit-taking. The significant short trigger is at $60,976, breaking which could start a new bearish trend, delaying the bull run by several months. 📊Always monitor volume as no trend can sustain with volume divergence. The best and most extended trends are those with increasing volume during trend phases and decreasing volume during corrections. 📝Bitcoin is currently at a crucial decision point. The market's next move will likely define the short-term trend, either confirming bullish momentum with a breakout or indicating a potential reversal. Proper risk management and attention to volume trends are crucial for successful trading. I hope this analysis provides valuable insights for your trading decisions. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2.
by itsparham96
XLMUSD: Sitting Just Below The All-Time 0.886 RetraceXLM is trading just below the all-time Linear-Scale 0.886 Fibonacci Retrace after Bullishly breaking out of a Falling Wedge in what seems to be a part of a much bigger Cup with Handle pattern that can be seen in the Log Scale chart. If the Full Logarithmic Target is reached we will see XLM make a move towards $23.35 in the near future which aligns with both the measured move of the Cup with Handle and the 1.618-1.902 Fibonacci Extension Zone.
COINBASE:XLMUSDLong
by RizeSenpai
2
LCID's vwap bounced after pullback LONGLCID trended up 40% from late June and then over 2-3 days completed a standard Fib 0.5 retracement before bouncing off a longterm anchored mean VWAP and reversing. The reversal is supported by the two time frame RSI indicator showing the lower TF RSI crossing above the higher TF RSI and both of them approaching the 50 level. The zero lag MACD shows the lines crossed under the histogram and are now approaching the horizontal zero line. The relative rigor indicator shows a line cross while the values were negative and now approach to the horizontal zero line in parallel. Overall I conclude that LCID is set up for a long entry.
NASDAQ:LCIDLong
by AwesomeAvani
AUDCAD | Short H4 | Market Exec | Similar to NZDCADTechnical Confluences for Trade: - Stochastics are in Overbought Conditions on D1, H4 and H1 timeframe - Price action is at a Supply Zone and has another Consolidation Zone nearby it - Price action is at the top of a channel resistance - Targeting the 50% Fibo retracement Fundamental Confluences for Trade: - Same setup as the NZDCAD trade I just posted as well - AUD has a RBA event risk if this trade is taken Suggested Trade: Entry @ Area of Interest 0.9030 - 0.9060 SL @ 0.9093 TP 1 @ 0.8983 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 0.8921 Risk-to-Reward @ Approx. 2.14 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only. ________________________________
Short
by weekendanalyst
2
Alikze → ETC | Completing wave B correctiveIn time D1, with an ascent in the form of three waves, it is out of density with several spike candles. According to the type of behavior and structure, if the current correction moves in the form of three waves, two scenarios can be considered for it. The first scenario: the upward corrective movement will continue to the $28 area and then to the $25 area as a higher correction and will not touch the previous floor, which, if supported, will have the ability to grow to the specified area of the supply zone. Second scenario: the correction to $28 continues and then the C wave correction should break the $25 area and at least the bottom of the spike candle will continue. 🟩Sup:25$ ----------------- Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️
by alikze
5
GBPJPY Strong Reversal & GBPUSD UpdateThe Japanese Yen(D) is going through the B to C leg of its correction, which we saw in the yen pairs in the last 24 hours. The GBP/JPY is our pick for a long trade because it has a more technical-bullish outlook than most other yen pairs. More info in the video. GBP/USD The cable broke higher yesterday above 1.2634 , the limit for any downtrend continuation. The violation of this point invalidated the expected downtrend continuation trade. We must wait for the price to conclude the current rally before we can act on a new position in the cable.
Long
by Charts247TradingAcademy
3
52,838 and 06 cents: BTC most likely Retrace Target almost hereUpdate to my ongoing analysis of this bull run. Correction proceeding exactly per plans. We are nearing some key levels to watch. The bottom should be pretty close to here. $ 56,265 - 56,799 is the minimum expected. $ 52,838 - 53,659 is best Guess and Ideal target. $ 48,090 - 48,750 is the Overshoot (backboard). . Previous plots and logic that lead us here (click the links): - 73k Top Call no one expected - Retrace Roadmap of Support zones - 52.8k imagined but not believed - Impulse Redux confirms the targets
COINBASE:BTCUSD
by EuroMotif
4
BNB 4HInterval Chart ReviewHello everyone, let's look at the 4H BNB to USDT chart, in this situation we can see how the price is moving in a sideways trend channel, staying below the local downtrend line. Let's start by setting goals for the near future that we can include: T1 = USD 579.2 at which the price struggles T2 = $605.9 T3 = $623.6 AND T4 = $648.3 Now let's move on to the stop-loss in case of further market declines: SL1 = $570.1 SL2 = $539.4 SL3 = $518.2 AND SL4 = $491.50
by cryptodailyuk