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SPY dump part DooI love the setup to short here. /ES (which my technical work is based on) got a breath away from a symmetry resistance at 3427. My dowsing says to expect new lows, sell rallies, breakdown and that this is a short term reversal. The chart data at yesterday's low at 4224 is a total ledge and appears as an unfinished auction. The /ES also has a weak area (appearing as a ledge on a 3 minute chart) at the halfback of the entire swing down around 4304. The combination of these increases the odds for a retrace down. Intuitively this morning I had that tomorrow is the better day to short, but I'm comfortable with this area, and the rally has been pretty powerful. I wouldn't expect it to go a whole ton further.
AMEX:SPYShort
by JenRz
2
Retracements and Expectations👨‍🏫 A students ask me to clarify a strategy I use when momentum trading using retracements in something I call the "Springboard Effect" The theory is, the deeper the retracement after the initial impulse move the less chance of an extension or "strength" of the continuation. I like to use the analogy of a Spring Board, (or diving board) and the stiffness of the board or the amount of "spring" it has 👇 🤔 Imagine we we have 4 different boards, all with a different amount of springs and we are going to drop the same amount of weight ⚖️ from the same height onto each board. When we drop the weight onto the board that has lots of springs, it wont retract far before launching the weight high 🚀 If we drop the weight on a board that has a less springs it will retract further, but have less strength to launch the weight very high 🛫 If we drop the weight onto a board that has barely any springs then it will retract a lot and then struggle to even launch the weight higher than the height it was dropped from 😤 In this analogy..... The height we dropped the weight from, is the top of the impulse move 📈 The different boards are the different fib retracement levels 🧮 The springs are the buyers at those levels 💵 How far it throws the weight is the strength or price action of the extension 💪 👉 A Bounce on the 382 tells us that there are plenty of buyers wanting to enter this market asap, this is a good sign that the extension could be strong. I like to target the 1.618 extension and or match it up to a level of resistance close by 👉 A bounce on the 50 tells me there is still a lot of bullish momentum but buyers where happy to buy it much lower, I'll still consider this bullish and target the 1.272 extension and match it up with some resistance close by or front run the level if I have to. 👉 A bounce on the 618 I dont really consider to be a strong move, I feel we will get a good bounce and may extend further, but I play close attention to the previous high incase we double top. I will look for things like candle stick reactions and use the CCI to spot divergence if momentum is lacking. 👉 A bounce on the 782 I consider a failure of the trend, I will expect buyers to still step in, but it will be a weak bounce and only really look to target other fib levels inside the retracement as potential resistance and this trade becomes more of a short term scalp. I hope this makes sense and adds some value to your trading, peace ✌️
OANDA:SPX500USDEducation
by DeNomics
9
BTC Daily Chart: "Trendy"I have been bad about publishing my charts. But I suppose posting the larger ones would be okay as they take longer to change. This is a daily chart showing: - trendlines in black showing potential channel and old trendlines - trendlines in ROYGBIV colored to show most current trendlines - volume profiles showing POC for different areas - a fib speedfan from highest point to lowest level - largest fib retracement on the left created from lowest low to highest high - smaller fib retracement on the right created from previous high to previous low What I see: - I see it respecting the red and orange trendlines - recently bounced off smaller fib's 0.618 line - smaller fib 1.618 area is contained in the largest fib's 0.618/0.786 zone - speed fan has some interesting points of supp/res What I think: -i dunno, thats just what I see. - if it maintains holding those trendlines as it moves forward, I suppose that would be quite bullish. - if it fails the smaller fibs 618/786 zone, it could move down to areas that will induce fear in bulls and excite bears
FTX:BTCUSDLong
by GR3ND3L
[Trade Review] How I traded $SNAP, $NIO + RECAP SET UPSIn this video I will reviewing showing/ explaining $NIO & $SNAP that were posted in a pervious video about the set up on my New Series *Set Ups For the Week Traded riot & NIO using my knowledge of technical Analysis, sharing my levels: Support & Resistance, my trendlines, Fibs, Waves, Price Action, Channels , Emas, and prior experienced , while providing both bullish & bearish scenarios for you to be able t to understand my analysis and wait for confirmation as always! Want to see more content like this? Like and Subscribe! *DISCLAIMER: These videos are for educational purposes only. Nothing in this video should be construed as financial advice or a recommendation to buy or sell any sort of security or investment. Consult with a professional financial advisor before making any financial decisions.*
NYSE:NIO
by Raulf-m
BTC to 28k according to these 4 signsThere are 4 patterns/indicators that suggest that BTC could drop further to between 28k -> 27k. 1. Head and shoulders. - It is common for the drop following a head and shoulders to be roughly the same as the rise from the neckline to the top of the head. This was 39%. If we take 49% down from the neckline, this results in a price of 28.5k 2. Previous support - On its way up to its high of $65k, the price of BTC dropped from 41k to 28.7k. It is possible that we could bounce back off this line as a line of support. 3. The 0.618 Fibonacci retracement. - Drawing the fibonacci retracement lines from the March 2020 bottom at 3,858 up to the high at 64.9k, we can identify the 0.618 'golden-ratio' fibonacci retracement to be at 27.2k. A wick down to the 0.618 is not uncommon 4. In addition - the EMA cross is approaching with the 50 and 200 converging in a few days time. This is typically a bearish indicator. Note: I do not believe the bull market is over. The market is still making higher lows, and a drop to the 0.618 is no exception to that. Even a drop to the 0.702 would not invalidate the bull market case.
COINBASE:BTCUSDShort
by Nadnerb217
FIB your way to SUCCESS! In his historic 13th century novel Liber Abaci (Book of the Abacus), Leonardo Fibonacci brought a special sequence of numbers known as the Fibonacci series to Western civilization. Before we look into how Fibonacci numbers and ratios are used in the financial markets to predict future support and resistance levels, let's have a look at where they came from and how they were created. A simple mathematical expression that describes a Fibonacci series is given as follows: F(n+1)=Fn+ F(n-1) where Fn represents the current number, F(n-1)the previous number, and F(n+1) the next number in the Fibonacci series. Any integer in the Fibonacci series is the sum of its two previous whole numbers, regardless of how it is represented mathematically. Starting with F(n-1) = 0 as the previous number and Fn = 1 as the current number in the sequence, we can get F(n+1), the next number in the Fibonacci series, by repeating or iterating the process for each new Fn: 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, ... The ratio of the current Fibonacci number to its immediate previous number, that is, the ratio (F(n+1)/Fn) or (Fn/F(n-1)), is a special and somewhat mysterious characteristic of the Fibonacci sequence. When we move farther out into the Fibonacci sequence, this ratio reaches 1.618 (to three decimal places). In truth, it turns out that it doesn't matter which two numbers were chosen to start the series in the first place. It will still hit 1.618 as we proceed along with the list! This unique ratio is referred to as the Golden Ratio, or "Phi" . We already know that Phi = 1.618 (to three decimal places). Here are some other important ratios related to Phi: a. (1/Phi) = 0.382 b. Phi x Phi = 2.618 c. (2/Phi)-1 =0.236 d. √ (1/Phi) = 0.786 e. √ Phi = 1.272 The items in this list of Phi‐related ratios are regarded as significant ratios in technical analysis and are used widely by technical traders and analysts. Fibonacci Retracements, Extensions, and Projections Fibonacci numbers and ratios are often used to time future market reversals, or as time forecasts, as we can see in the following pages. Before going any further, it's a good idea to define the terms retracement, extension and projections in broad terms. Price Retracements A market drop or reversal from a significant high, or a rebound from a significant trough, is referred to as a retracement . The amount of retracement is normally expressed as a percentage of the observed price range, and is calculated by comparing the peak to a previous significant trough or a trough to a previous significant peak. In other words, we have both downside and upside retracements. Popular Fibonacci percentage retracements include: a. 23.6 percent b. 38.2 percent c. 61.8 percent d. 78.6 percent Price Extensions A downside extension is any downside retracement that is greater than 100 percent, that is, the downside retracement extends below the previous significant trough, that is, beyond the observed price range. In similar fashion, an upside extension is any upside retracement that is greater than 100 percent, that is, the upside retracement extends above the previous significant peak that is beyond the observed price range. Popular Fibonacci price percentage extension levels include: a. 127.2 percent b. 161.8 percent c. 261.8 percent d. 361.8 percent e. 423.6 percent f. 461.8 percent Price Projection An upside price projection is a projection of an observed price range from a higher significant trough. A 100 percent price projection is simply a one to one (1:1) projection of the observed price range from some new higher significant trough. Similarly, Fibonacci downside price projections use the phi‐related percentages for forecasting potential support in a downtrend. The main Fibonacci percentages associated with projections are: a. 61.8 percent b. 161.8 percent c. 261.8 percent d. 361.8 percent e. 423.6 percent f. 461.8 percent Trade with care. If you like our content, please feel free to support our page with a like, comment & subscribe for future educational ideas and trading setups.
TVC:GOLDEducation
by financialflagship
30
BTCUSD looking for a C wave down to fib and demand zone supportIt is looking like BTC may be starting the c wave down to finish this correction. Retraced approximately 85% of the move from highs in a 3 wave structure. Hit 4 hour supply zone resistance with reaction. There are 2 fibonacci measured move long setups below, with demand zones within the fib areas. Also trendline support and recent all time high support within same region. Looking at 42k-44k buy area, which has a fib target at 65328. If the c wave goes lower, a larger fib setup is below with possible buy support at 39k-37k all the way to 34k. If this area trades, then the fib target is 67537. I sold at 53930 looking to buy back at any of these areas.
BITSTAMP:BTCUSDShort
by FourC
13