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Fibonacci Retracement

GOLD → Support retest within the triangle before the news...FX:XAUUSD continues to be under strong pressure from sellers on the back of a strong dollar. The market failed to overcome the 2325 area and is heading for a support retest. Ahead of the news (Core Retail Sales, Retail Sales), increased volatility is expected. Traders are expecting neutral-bullish data against the US market. If the figures are higher than expected, gold may head lower. The technical and fundamental background for gold is negative, there is no strong buyer in the market yet, the rising dollar does not allow traders to take premature steps. The focus is on consolidation boundaries, a breakout of one or another boundary or level may trigger strong sell-offs (or buys). Resistance levels: 2315, 2325, 2340 Support levels: 2305, 2295, 2287 The chart and fundamental background speaks for itself. The news may have a temporary bullish impact on the market, but I don't think it can turn the market around under the current circumstances. The overall bearish background for gold is likely to continue this time around. Regards R. Linda!
FX:XAUUSDShort
by RLinda
14
EURCHF → A safe CHF could lead to a fall in the pairing OANDA:EURCHF is actively declining towards 0.9677 and is not ready to go up yet. Based on the general fundamental background, the currency pair may continue to fall towards 0.96 or 0.95 After a false breakdown of the range support, there is no strong reaction and the price returns to the level (retest). Fundamentally, CHF is stronger than EUR. The reason for the strong fall of the currency pair is the strong Swiss franc, which is getting stronger on the background of growing risks of recession in Europe, because in this case the Swiss franc plays the role of a hedge asset. The situation is such that determines the medium-term potential. The currency pair may continue to decline after the breakout and consolidation of the price below 0.9677. In addition, the decrease in the ECB interest rate is also a favorable background Resistance levels: 0.9738 Support levels: 0.9677 I expect that a retest of the support may lead to a breakout of the level, which will provoke a strong sell-off in the market. Regards R. Linda!
Short
by RLinda
1
IDFC FIRST BANK - Looks good but...WEEKLY OVERVIEW: My Overview & Observation: 1. Bullish in W TF but D tf price structure is still bearish making LL-LH. 2. Confirmation is pending for reveal. Trade Plan: WE WAIT FOR BULLISH STRUCTURE FORMATION FOR ENTRY BECAUSE IN D TF PA IS BEARISH FOR NOW LET IT CHANGE TO HH-HL - ONLY AFTER THAT WILL PLAN FOR A LONG POSITION - Stay tuned for further insights, updates and trade safely! - If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:IDFCFIRSTB
by SuperNova396
2
Does Fibonacci Really Work?It's hard to understand how the Fibonacci sequence presents itself in price action. I remember I used to think it was nothing more than lines drawn in a chart in a fancy manner. However, as I began to learn about probability distributions, I began to understand where the sequence reared its head into price action. Although I don't fully comprehend the theory behind the Fibonacci retracement, I did find a mathematical demonstration that proves price action and this sequence are related. You can find the demonstration in the link below. I'm unsure, but I believe this is peer-reviewed. www.researchgate.net However, you will notice that this approach is extremely different to the Fibonacci retracement. They look nothing alike. However, it's an interesting concept which could Shead light into understanding the fractal that governs price action. One of which is the Sierpinski triangle So does the Fibonacci retracement actually work? Well I don't know, but there is only one way to find out, so lets try it
NASDAQ:TSLALong
by DarkMessiah777
Copper Finds Support at Key Tech LevelsAfter hitting record highs in May, Copper has pulled back and heads towards a losing month, challenging critical tech levels. It has slipped below the EMA200 (black line), into the daily Ichimoku cloud and tests the 38.2% Fibonacci of the advance fromthe 2022 lows. This exposes it to 4.196, but sustained weakness does not look easy, technically nor fundamentally. Copper already defends the pivotal 38.2% Fibonacci and tries to reclaim the EMA200. Successful effort would reaffirm the bullish bias and create prospects for new all-time highs (5.200). The favorable supply-demand dynamics also point to further upside. The market has tightened significantly as key miners lower their activity this year, while consumption is boosted by the AI boom and the clean energy transition. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”), previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
FX:COPPERLong
by FXCM
GOLD → Is the market bearish and preparing for what?FX:XAUUSD has been facing strong bears since the opening of the session. The price returns under 2325 and forms a consolidation. Earlier there was a retest of a strong resistance area. The market is still bearish For the gold market the area of 2325 plays a key role at the moment. Bulls are not yet ready to overcome this area on the background of strong dollar and weak fundamental background for the metals market. A retest of 2325-2340 resistance is possible before further decline. As the market is still bearish and consolidation is forming, liquidation of buyers may follow in the nearest future. The prospective target is 2305-2290-2275. There is no news today, fundamental and technical background is negative. Resistance levels: 2325, 2340, 2356 Support levels: 2315, 2305, 2295 Technically, gold may test the local lows or even update the interim lows. There is still no strong buyer ready to fight against the whole market. The price is trading in a bearish range. Regards R. Linda!
FX:XAUUSDShort
by RLinda
9
TSLA: A Dangerous Congestion!Daily Chart: Congestion and Key Resistance Levels The daily chart of Tesla, Inc. (TSLA) shows the stock in a congestion phase, marked by sideways price action within a range. The 21 EMA, currently at 177.22, provides short-term support and resistance. This congestion phase indicates indecision in the market, where neither bulls nor bears have taken clear control. A significant resistance level to watch is at 186.88. The price has tested this level a couple of times but has not been able to break above it convincingly. A breakout above 186.88 would suggest a potential bullish move, targeting higher resistance levels around 205.60. Conversely, a failure to break this resistance could lead to further consolidation within the current range. On the downside, key support is found at 167.75. This level has provided a floor for the recent price action, and a break below it could signal a bearish continuation, possibly targeting lower levels around 138.80. Weekly Chart: Fibonacci Retracement and Key Support Levels The weekly chart provides a broader perspective, highlighting the significant drop TSLA experienced and its subsequent recovery attempts. The 21-week EMA, at 183.85, is a critical resistance level that the price is currently hovering around. Staying above this EMA could indicate strength, while a drop below could suggest further downside potential. The Fibonacci retracement levels drawn from the recent high to the low show important support and resistance areas. The 50% retracement level, around 169, aligns with the daily support at $167.75, and acts as a crucial support area. Support levels to watch include the 50% Fibonacci retracement around $169 and the lower level at 138.80. Holding above the 50% level would suggest a potential base forming, while a break below could see the stock revisiting lower levels. Conclusion: Monitoring the Congestion and Key Fibonacci Levels TSLA is currently in a congestion phase on the daily chart, bounded by resistance at 186.88 and support at 167.75 area. The stock needs to break out of this range to signal a clear direction. On the weekly chart, the 21-week EMA and Fibonacci retracement levels provide additional context for potential support and resistance areas. A breakout above 186.88 on the daily chart could suggest a bullish move towards 205.60, while a breakdown below 167.75 could indicate further downside risk. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
AUDUSD → False breakdown of resistance. Ready to go down?FX:AUDUSD is forming a false break of the range resistance, but the market continues to struggle between traders. The focus is on the risk zone, the breakout of which will send the price flying downwards. The trend is neutral, after a long-range retest of 0.66676 resistance a false breakdown is formed and the buyer has no potential to go up. A retest of the local maximum is possible, but all the emphasis is on the support at 0.6648. A break of this area will be a confirmation of the buyers' loss, as well as a break of the local uptrend, which will provoke the formation of a strong bearish impulse. Resistance levels: 0.6668, 0.6715 Support levels: 0.665, 0.6558 Most likely, the buyers' strength will not be enough to pass the mentioned resistance from the first time. At the moment the seller is pushing the market and if the key support area is broken, the market will change its local mood Regards R. Linda!
Short
by RLinda
13
Hang Seng Tries to Hold Key Support Amidst Mixed Chinese DataThe relief rally of the past four-months fades as HKG33 concluded a four-week losing streak, leading to a challenge of pivotal support levels. The Hong Kong index tests the 38.2% Fibonacci of this year’s low/high advance, creating risk for a deeper correction towards the 61.8% level. China’s post pandemic recovery is bumpy, underscored by distressed property sector, subdued factory activity and weak domestic demand, with CPI hovering around zero for the past year. Today’s data showed a deceleration in industrial production to 5.6% y/y and another drop in house prices. Retail sales grew 3.7% y/y though, offering reasons for optimism. Furthermore, China’s real estate market may be in poor shape, but Beijing has found new growth pillars in electric vehicles, car batteries and solar cells. Adding to hopes for better days ahead, both the IMF and the World Bank recently upgraded their China GDP forecasts. HKG33 finds reprieve today and tries to hold the pivotal 38.2% Fibonacci and the 200 Days EMA (blue line. Successful effort will give it the opportunity to retake 18,736 and the chance to push for higher highs (19,794), but the latter has a higher degree of difficulty. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”), previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
FX:HKG33
by FXCM
GOLD → Open gestalt 2280 but the price goes up, what's next?FX:XAUUSD closed last week in the plus side despite the negative fundamental backdrop, but the focus is on the consolidation that the price is in. Previous patterns indicate that consolidation, amid a bear market, could be followed by buyers liquidation, but there is always a BUT!!!! Relevant, gold is closing in a pat range of 2340-2325. . The market doesn't know where to move yet. So the big question is: where will the price go on Monday? The general background is bearish, accordingly, the pressure from sellers continues. Technically: If the 2340 resistance is broken, the price will head towards the descending channel resistance. BUT, if the support is broken, the new trading week may start with a decline towards 2300. From a fundamental point of view, gold has no support China has temporarily reduced purchases. But at the same time, a rather hot conflict in the Middle East and Eastern Europe may support the gold price. Against the backdrop of the rising dollar, gold traders may intensify the sell-off of the asset and strike another blow to the buyers who appeared in the range of 2290 - 2325. There is not much news in the coming week, but the focus is on: CPI (eur), Core Retail Sales & retail Sales, Initial Jobless Claims, S&P PMI and Fed Monetary Policy. The data is expected to be relatively lukewarm for the dollar, but the situation changes daily. Resistance levels: 2340, 2355 Support levels: 2325, 2305, 2290 Technically, the market maker has not yet reached the key liquidity below 2380, there are no strong and obvious preconditions for the medium term, it is worth paying attention to the daily price behavior. Regards R. Linda!
OANDA:XAUUSD
by RLinda
7
ETH - Getting close to Major levels. COINBASE:ETHUSD is moving towards some major levels in time and price. We have the equal time and price with the August 2022 high, April 2023 high giving us a potential high around the 17th of December. There are double 1.27% Extension areas from those previous 2 highs around 2300. The 382 from the ATH @ 2400 and if we break that then the 2600 level will be waiting with double 1.618% Extensions. Once a top comes in the retracement will be key to the next move. I will post smaller TF targets shortly. An interesting run into the end of the year might set up the course for next year. Enjoy the Week. 👍👍
COINBASE:ETHUSD
by L_F
2
Will we see a price break attempt again on ETH?Hello everyone, I invite you to review the chart of ETH in pair with USDT, on a four-hour interval. As we can see, the price has risen from the first channel of the downward trend, then we can see a break from the local upward trend line and now we can see the second channel of the downward trend, Currently, the price has bounced off the support at $3,495, but remaining in the descending channel, we may see the price drop to the support at $3,179. Going further, we have a very strong support zone from $2,954 to $2,678. Looking the other way, you can see how the price remains in front of a strong resistance zone from $3,645 to $3,814, then there is resistance at $4,098, and then we have a very strong resistance at $4,560. Looking at the RSI indicator, you can see that we are entering the upper part of the range despite a slight price movement on the chart, while the STOCH indicator shows that we are exceeding the upper limit, which may still result in another attempt at price recovery.
by cryptodailyuk
GOLD → Retest of resistance before possible decline to 2290FX:XAUUSD is forming the range of 2325 - 2290. In general, the market is bearish and the local bullish distribution that happened since the opening of the session may lead to a false breakdown and further decline Today at 15:00 GMT Fed Monetary Policy Report. I think it is worth paying attention to the Fed comments. As for Gold. All attention to the resistance area of 2315-2325. Most likely we should wait for a false breakdown, at the moment there is no potential to go up against a strong bear market. Against the background of the growth of the dollar index gold traders can strengthen the sales of gold. Consolidation of the price (after the false breakdown) below 2325 or below 2315 may lead the market down to 2300-2290. Resistance levels: 2325, 2340 Support levels: 2315, 2305, 2291 Friday may end with the price testing the resistance and returning to the boundaries of the sideways range, i.e. to the flat state. Regards R. Linda!
FX:XAUUSDShort
by RLinda
12
EURUSD → The currency pair may lose up to 2.5% ↓FX:EURUSD is testing the 1.0884 resistance again after breaking the local channel. But it does not lead to success, as the bears are not letting the price up yet amid the complex fundamental environment. Technically, the currency pair is under a strong resistance zone. The limit level of 1.0884, formed by a big seller, continues to have a negative impact on the price. EURUSD may test 1.0802 in the near future. It is necessary to monitor the price reaction to this area. A quick retest or consolidation could be a prerequisite for a downside breakout and further fall to the lower boundary of the global range at 1.0606 Resistance levels: 1.0884, 1.0942 Support levels: 1.0802, 1.0736 I expect that the bears will continue to dominate the market on the background of the expensive dollar, which may lead to the fact that the currency pair may lose up to 2.0-2.5% of its value. Regards R. Linda!
Short
by RLinda
7
SAIL - Reversal pattern in action!Monthly Time Frame: Overview & Observation: 1. CHange in price structure from LL-LH to HH-HL 2. Good volume support 3. Bouncing from weekly demand and fib support zone. 4. Expected to continue to move higher. 5. Earnings are weak though! Trade Plan: 1. Entry = cmp 154 2. Stop Loss = 10-12% 3. Target = 40% - Stay tuned for further insights, updates and trade safely! - If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:SAILLong
by SuperNova396
2
HERITAGE FOODS - multi-year breakout - Buy on Dips!Monthly Time Frame: Overview & Observation: 1. Beautiful Double bottom formation and broke 7 years of resistance level in 1 shot shows strength in buying. 2. Good volume support 3. Earnings are strong. Trade Plan: 1. It has already gone to targets for the structure it gave BO. 2. Wait for a retracement for buying. - Stay tuned for further insights, updates and trade safely! - If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:HERITGFOOD
by SuperNova396
GOLD → Shakeout and false breakdown of 2325. PPI aheadFX:XAUUSD rises to 2340 on the back of yesterday's CPI and Powell's comments form a shakeup in the market and the price of the metal drops to 2308, forming a false breakdown of the key liquidity area of 2325. Today the market is expecting PPI (MoM) and Initial Jobless Claims. Producer Price Index is expected to be lower than last period 0.1% instead of 0.4%, but it all depends on the actual data. Mind you, yesterday the market got a CPI of 3.3%, versus the expected 3.4%. But Powell did not say anything interesting in the change of views and still sticks to the hawkish side. Technically, gold is breaking local upside support and forming a consolidation below 2325. If the data is bullish for the dollar, gold could continue to fall towards 2290-2265. Resistance levels: 2325, 2340 Support levels: 2305, 2291 Technically gold is showing weakness, but it reacts quite strongly to any small positive news. The whole emphasis on today's news, if the fundamental background remains negative, we will consider the targets below, if there are hints of a change in the background, we can consider price growth to 2340-2355. Regards R. Linda!
FX:XAUUSDShort
by RLinda
25
GOLD - last crash, then a new all time high! (buy here)GOLD is probably preparing for a last small crash to the main support of the expanding triangle in the major timeframe. This is a great opportunity to buy GOLD at the bottom of an expanding triangle because it is also in confluence with the 0.382 Fibonacci retracement. This Fibonacci level is very strong together with 0.618 because 0.618 + 0.382 = 1. You can buy gold here, or enter a long position on futures with leverage to increase your potential profit.  You probably know that I am very bullish on GOLD for the next few years and expect at least a double in price. After many years of sideways price action, GOLD finally broke out and made a significant new all time high. GOLD seems undervalued and should go higher.  It's always important to look at the Elliott Wave analysis, as it gives us a better understanding of the whole market structure. Where on the map are we currently? On the chart, you can see an impulse wave (12345) and after such move we can expect a corrective structure, such as ABC or WXY. Usually, you want to take a Fibonacci retracement of the previous impulse wave and look for 0.382 FIB or 0.618 FIB. I don't think GOLD will go all the way down to 2155, that would be pretty bearish after the previous breakout to a new all time high. Buying gold at current levels is definitely a good idea, but if you want better price and timing, I would take the 0.382 FIB. This will also increase your risk-to-reward ratio. 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.
OANDA:XAUUSDLong
by Xanrox
11
Will BTC hold up for collection?Hello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As we can see, the price remains at the upper limit of the downtrend channel Let's start by determining the support line and as you can see, the first support on which the price is based is $66,150, if the support is broken, the next support is $62,510, then at $59,824, and then the fourth very strong support at the lower border of the channel at $56,532 . Looking the other way, there is significant resistance at $68,248, and then just above the downtrend channel, there is a strong resistance zone from $72,012 to $74,000. There is a visible downward trend on the RSI indicator, and each rebound gives room for another price drop, while on the STOCH indicator we remain at the lower limit, which should help maintain the price.
by cryptodailyuk