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Fibretracement

Post COVID Bull Market Fib ConfluencesSo as i was getting prepped for my weekly video i created this chart and figured i'd share. It's a fib analysis our entire posrt COVID bull market mainly focusing on major pivot lows and the top we printed a few weeks ago. The rectangles and fib confluence zones, or zones in which one could expect to find support based on the Fibonacci sequence. I mainly focused on .618 retracements as well as 1.618+ extensions. We've already found our way through one of them labeled in red, and Friday had wicked the second zone labeled in yellow. The first level was our first real support area before losing it last week. Fib wise it consisted of three .382's, a .5, and a .618. The one we're currently bouncing from consists of two .5's, one .618, and a .786. This chart is not suggesting a retest of the COVID lows, just a pure analysis of the fibs i have on the chart. Normally i add the addition of trend based fibs and work of off the intraday timeframes as well, but for ease of use this is only fib retracements and their subsequent extensions form major pivot lows to the top printed 09/02. Obviously this is to be used with other forms of technical analysis including volume profile and just standard price action analysis including support/resistance. More often than not you'll find that they all have a tendency to land at or near the same levels. If you're not familiar with the fiboonacci sequence or do not implement it into your day to day work cycle i highly recommend it.
AMEX:SPY
by merkd1904
$BTC/USDT 15m (Binance Futures) Descending trendline breakoutBitcoin has broken out bullish locally again and 50MA is acting as support now, it is likely to go for a higher high! Long time not scalping it, this is a very zoomed in view, use small position and respect the set-up (as always). Current Price= 49451.12 Buy Entry = 49441.08 - 49244.64 Take Profit= 49939.57 | 50372.89 | 50946.06 Stop Loss= 48863.58 Risk/Reward= 1:1.25 | 1:2.15 | 1:3.35 Expected Profit= +14.52% | +25.08% | +39.00% Possible Loss= -11.64% Fib. Retracement= 0.786| 1 | 1.272 Margin Leverage= 12x Estimated Gain-time= 1 day
Long
by TradingOn
$VIDT/BTC 1D (Binance Spot) Descending wedge breakout and retestVIDT Datalink looks really bottomed here and ready for reversal after that bullish breakout! Also, it's a Collectibles & NFTs project, working on Binance Smart Chain and Fantom Ecosystem. Current Price= 0.00001077 Buy Entry= 0.00001080 - 0.00000984 Take Profit= 0.00001331 | 0.00001583 | 0.00001991 Stop Loss= 0.00000792 Risk/Reward= 1:1.25 | 1:2.3 | 1:4 Expected Profit= +28.97% | +53.39% | 92.93% Possible Loss= -23.26% Fib. Retracement= 0.236 | 0.382 | 0.618 Margin Leverage= 1x Estimated Gain-time= 2.5 months
Long
by TradingOn
7
$DEFI/USDT 6h (Binance Futures) Rising wedge breakdown & retestDeFi index lost 50MA support that was holding the up-trend and finally broke bearish. Now retesting the wedge, seems like retracement is in play short-term before resuming bullish again! Current Price= 2476.9 Sell Entry = 2495.9 - 2616.9 Take Profit= 2263.2 | 1986.6 | 1790.0 Stop Loss= 2810.3 Risk/Reward= 1:1.15 | 1:2.24 | 1:3.02 Expected Profit= +22.94% | +44.58% | +59.96% Possible Loss= -19.86% Fib. Retracement= 0.382 | 0.382 | 0.5 Margin Leverage= 2x Estimated Gain-time= 3 weeks
Short
by TradingOn
$CHR/BTC 4h (Binance Spot) Falling wedge near breakoutChromia has formed a bullish pattern and looks ready to break-it, but we may see a last pull-back to 100EMA first. Current Price= 0.00000871 Buy Entry= 0.00000838 - 0.00000806 Take Profit= 0.00000926 | 0.00001012 | 0.00001132 Stop Loss= 0.00000739 Risk/Reward= 1:1.25 | 1:2.29 | 1:3.73 Expected Profit= +12.65% | +23.11% | +37.71% Possible Loss= -10.10% Fib. Retracement= 0.618 | 0.893 | 1.272 Margin Leverage= 1x | 2x Estimated Gain-time= 2 weeks
Long
by TradingOn
$ICP/USDT 4h (Binance Fut.) Descending channel under resistanceInternet Computer Protocol (formerly known as Dfinity) has broken bearish after ascending TL was lost. Now retesting 50MA resistance, we expect to bounce back on it and continue the retracement down. Current Price= 63.24 Sell Entry = 63.98 - 67.14 Take Profit= 58.63 | 53.85 | 49.48 Stop Loss= 71.42 Risk/Reward= 1:1.18 | 1:2 | 1:2.74 Expected Profit= +21.14% | +35.72% | +49.06% Possible Loss= -17.88% Fib. Retracement= 0.382 | 0.5 | 0.618 Margin Leverage= 2x Estimated Gain-time= 10 days
Short
by TradingOn
A Comprehensive Guide to Fibonacci RetracementsHello traders, in this post, we will be going over one of the most commonly used tools in the equities (stocks), forex (fx), and cryptocurrency markets - the "Fibonacci Retracement". For a better viewing experience, please view this on your desktop/PC, as the mobile and tablet versions of the charts are harder to read. Although I have briefly touched on how to use the Fibonacci Retracement tool in my previous Elliott Waves series, we are now going to go over it in depth, and talk about how this tool can help you find entries and exits within an existing trend, which also helps identify whether you are in a bullish or bearish trend. The Fibonacci Retracement tool, although widely used by many traders, is almost always not correctly used by new traders. Most traders will often connect the wrong points, indicating the wrong Fibonacci retracement levels. Here, I will be explaining the proper way to use the Fibonacci Retracement tool in a very simple translated friendly guide in one guide. ------- What Is the Fibonacci Retracement? Fibonacci Retracements (Fib(s) for short), are a set of 'ratios', defined by mathematically important Fibonacci sequence. This allows traders to identify key levels of support and resistances for price action. Unlike other indicators, Fibonacci retracements are FIXED, making them very easy to interpret. When combined with additional indicators, Fibs can be used to identify potential entry and exit points with high probability to trade on trending movements. Fibonacci retracements are used to indicate levels of support and resistance for a stock’s price. Although they are similar to moving averages in this respect, Fibonacci retracements are set by the extent of the previous bullish or bearish run and do not change each day in the current trend as moving averages do. Therefore, it can be significantly easier to identify and anticipate support and resistance levels from Fibonacci sequences. How Is the Fibonacci Retracement Calculated? (You don't need to calculate it yourself - It's already done for you!) Fibonacci retracements are based on what is known as the 'Fibonacci sequence', where each number in the sequence can be added to the previous number to produce the following number within the sequence. Now, you might be confused here, but don't! - I am just explaining the concept on how it's calculated. You do not need to personally calculate the actual sequence of the Fibonacci Retracement, as everything is already pre-determined and calculated within the tool itself on TradingView. To put it simply, dividing any number in the sequence by the following number yields 1.6180 – known as the "Golden Ratio" – while dividing any number by its predecessor yields 0.6180. Dividing any number in the sequence by two positions in advance yields 0.3820, while dividing any number by a number three positions in advance yields 0.2360. These ratios emanating from the Fibonacci sequence are found throughout nature, mathematics, and architecture - such as flowers, buildings, and so forth. Yes, if you search for Fibonacci sequence examples, you can find these within daily uses, not only in trading. Now, let's get into the meat and potatoes. Retracement levels for a stock/cryptocurrency are drawn based on the prior bearish or bullish movement. Don't forget this - you need to know whether you are in a bullish or bearish trend. Is the stock or coin going up? or down? To plot the retracements, draw a trendline from the low to the high (also known as the swing low to the swing high) within a continuous price movement trend – Fibonacci retracement lines should be placed at 61.80%, 38.20%, and 23.60% of the height of the line. Again, these numbers are already calculated for you within the tool itself. In a bullish trend, the retracement lines start from the top of the movement (i.e. the 23.60% line is closest to the top of the movement), whereas in a bearish movement the retracements are calculated from the bottom of the movement (i.e. the 23.60% line is closest to the bottom of the movement). How to Trade Using the Fibonacci Retracement Once you have drawn a set of Fibonacci retracements on a chart of your liking, it is possible to anticipate potential reversal points where support or resistance will be encountered. If the retracements are based on a bullish trend, the retracements should indicate potential support levels where a downtrend will reverse bullishly. So to put it simply, the pre-determined Fibonacci levels, should in theory and practicality, act as resistance. If not, there is almost 100% certainty, even if the support/resistance is not held, there will always be some form of price reaction at each Fibonacci level just based on the Market Psychology movements. If the retracements are based on a bearish movement, the retracements should indicate potential resistance levels where a rebound will be reversed bearishly, which is the vice-versa situation for the bullish movement trend. The most common reversals based on Fibonacci retracements occur at the 38.20%, 50%, and 61.80% levels (50% comes not from the Fibonacci sequence, but from the theory that on average stocks retrace half of their prior movements). Although retracements do occur at the 23.60% line, these are less frequent and require close attention since they occur relatively quickly after the start of a reversal. In general, retracement lines can be considered stronger support and resistance levels when they coincide with the overall trend, meaning, that if you know that you are in an established bullish or bearish trend, you will most certainly get some form of reaction at the most common reversal levels within the Fibonacci level, which is shown in the image below. Whenever applying Fibonacci retracements, keep in mind that retracement lines represent only potential support and resistance levels, they are NOT 100% set in stone – they represent price levels at which to be alert, rather than hard buy and sell signals; however, they have HIGH PROBABILITY. It is important to use additional indicators, in particular MACD, to identify when support or resistance is actually being encountered and a reversal is likely. The more that additional indicators are pointing towards a reversal, the more likely one is to occur. Also note that failed reversals, especially at the 38.20% and 50% retracement levels, are common.
BITSTAMP:BTCUSDEducation
by XForceGlobal
76
Fib Retracement From ScratchHello, traders! As you can see, SkyRock traders always use Fib tools for our analysis and predictions. We find Fibonacci tools a great powerful series of instruments that’s necessary to use. Today we’ll speak about one of my favorite TA tools - Fib Retracement. Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. They are based on Fibonacci numbers. Each level is associated with a percentage. The percentage is how much of a prior move the price has retraced. The indicator is useful because it can be drawn between any two significant price points, such as a high and a low. The indicator will then create the levels between those two points. Well, it seems to be not very important and attractive how to calculate Fib Retracement Levels. You should just know that they are based on something called the Golden Ratio. It’s believed that all natural laws are based on this ratio. However, the right usage of it is deadly important. To initialize it, put the first point to the previous lower low and the second to the confirmed higher high during the up-trend and vice versa during the sown-trend. What can it tell you? Initially, support and resistance. It could hardly be possible to find the tool better for such purpose. Then, the levels of it is usually reached, thus it may produce some signals. Although it’s very powerful tool, it’s kinda ridiculous idea to use it marginally. Also, the areas of sideways is also defined by it, cause of high probability of consolidation in «Golden Pocket». And at last, it helps ms to define Gartley and Elliott patterns. Well, guys, as you can see it’s really great and multifunctional instrument that can help every of you to trade and make money trading. Use it in the right way! Have a nice trading day, dear traders! DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Education
by Skyrexio
4
Butterfly Effect FET/BTC #FET $FET #FetchAIA Bullish Butterfly pattern appears to be forming here on our FET daily chart . Wow! We just dumped out of that triangle/pennant structure we had been in before! It happens in crypto - what can I say ! Every chart dumped when Bitcoin dumped . We were in a triangle type structure before but we broke bearish and went below it . You can see what looks like a letter 'M' on the chart now? That could be what is called a Bullish Butterfly harmonic pattern . Now I should say at this point that this chart DOES NOT fit the butterfly pattern perfectly. But it fits pretty close and if that's what it is then our bottom should be in more or less (though it can always wick a small amount ) . That's Point D of our harmonic . We went there last night . If we break upwards from there our target is the 1.618 fibonacci extension shown on the chart which is at 1398 sats ( where the little X is on the chart ). That would be the target .Now keep in mind if this chart continues to break downwards then it might invalidate this Butterfly pattern and there might be something totally different going on ! We have to let it play out . Things can change quickly in crypto . It is what it is . Now I've had a couple critics of my charts say that "Hey! You were wrong about that triangle ! Maybe you're wrong about this too ." I can only say when Bitcoin dumps many chart patterns will change into something else . It happens . We must be prepared for wild swings in a bullrun year . I'm still learning too , but at least I'm trying. Also you will notice the name of this chart is Butterfly Effect - this is a concept from Chaos Theory which seems to fit the last couple of weeks pretty well ! It's the idea that one small change in a system can cause much larger changes to happen in that system later . Or put another way that one small incident can have a big impact on the future ! Wow! That fits the times we're living through right now ! Where one small sentence from Elon can cause massive changes in the markets ! But anyway - it would be nice if the dumping is done and we start a rise toward 1400 area. Let's let it play out and see.
by shimmeringpath
$COTI/BTC 1D (Binance Spot) Falling wedge breakoutCurrency Of The Internet has broken-out bullish and looks good for continuation, maybe after a 50MA retest! Current Price= 0.00000740 Buy Entry= 0.00000708 - 0.00000666 Take Profit= 0.00000910 | 0.00001212 | 0.00001681 Stop Loss= 0.00000538 Risk/Reward= 1:1.5 | 1:3.52 | 1:6.67 Expected Profit= +32.46% | +76.42% | +144.69% Possible Loss= -21.69% Fib. Retracement= 0.786 | 1.272 | 2 Margin Leverage= 1x Estimated Gain-time= 2.5 months
Long
by TradingOn
ETH-USDT-short-term bear, and then long?Hello, thank you for taking the time to consider this idea. As I have detailed above, I am waiting to see if ETH will achieve 30 fib retracement, where it then would have the possibility to jump up again. This is just my analysis based on technical indicators and personal opinion, plus the fact that ETH has just blown our minds since Immutable-X (layer 2 scaling and lower gas fees,) came out in April. There is always a chance that ETH will not retrace and will just continue up. Also watch for a potential bounce off of our (0.236 fib line) at approximately 4,000 .. Many think ETH can grow much more than I have listed on chart, but let's always trade safely with a stop loss! It is wise to wait for confirmation of a change in trend before entering any trade! (keep that in mind if we approach the blue rectangle possible buy zone above) 😃😄 🛑🛑🛑This is not financial advice🛑🛑🛑 Above are approximate targets based on fibs and major trend-lines etc. I always recommend looking at multiple charts when making a big investment, thank you! Always have a stop loss ✋🛑💲 set Any thoughts 💭💡, questions 🙋‍♀️🙋‍♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome. Thank you for reading and trade safely!!!! Jazerbay ☯
by jazerbay
35