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Retracement

New longer term price path for CANNIt seems like a new 'longer term' price path for CANN has been setup with the recent pullback. This could be due to the recent decline in cryptos and the change in rules around crypto mining in China, but that's simply a guess. The fib. retracement suggests the price may test a new possible resistance area around $30; at that point I would expect another pull back to widen the stance on the overall valuation. Remember, all this is pure speculation and is not financial advise.
NASDAQ:CANLong
by chimera_brendo
EURUSD Overall Bearish Bias BUT chance to enter a Long Position.Monthly/Weekly -Price formed a double bottom , then made a huge bullish push. -It finally met resistance and has now began its retracement, usually after a double bottom formation we expect price to retrace and test the neckline. -After drawing the Fibonacci from a low to a high, you will notice the neckline lines up with the 50.0-61.8 fib level along with a support/demand zone. Daily -After meeting resistance at the weekly/monthly, supply/resistance zone price began its bearish move. -Price broke pass the former daily support zone which will now act as a daily resistance. -Since price broke below that area, I am expecting price to retest this area before possibly continuing its move to the downside. -Drawing a Fibonacci from the high to the low, the 38.2 fib level also aligns with the daily resistance. Here is where I will look to enter sell if there are confirmations of a potential sell. -BUT when drawing Fibonacci a retracement and respecting of the levels 50.0-61.8 offer a strong confirmation, so price may potentially retrace here. There is also bullish divergence which can serve as a confirmation that price appear to be ready to make its retracement to one of the fib levels (38.2,50.0,61.8) or my daily resistance/supply zone.
Long
by NoCeilingsTrading
1
GBP/CHF MONTLY BEARISH PATTERN!!!In the monthly we have a price that is over extended. The price is currently rejecting a supply area. As well we have a over extended W formation, so we can expect the price to complete the pattern with a rejection to the w previous leg. if we take fibonacci from low to high we can see that the fibonacci .618 level is align perfectly with estructure. We just have to make sure that the M,W and D time Frames are in the same direction before taking any action.
Short
0
by Wiiso
2
GBPCHF on a retracement move 🦐GBPCHF on the 4h chart after the last strong bullish impulse reached the weekly descending trendline. The market starts a retracement move and currently is trading above a minor support area. According to Plancton's strategy If the market will break below and the conditions will be satisfied we will set a nice short order. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
AUD/CAD SHORT IDEAMensal + week -It seems to be finalizing a BULL retracement wave Daily - You can see this same retraction wave (monthly + weekly), touching 4 times the trendline support. - Finally at 5 touch broke that same line, and also the moving average of 50 - It is possible to observe the breakage of the horizontal resistance zone, marked through the upper zone of the blue rectangle, at the price 0.97139 (doing some extra bouncing now) -For more entry security, you can wait for the support observed in the lower area of the Blue Rectangle to break, and go short after that.
Short
by FiboTheMan
CB Pro - Delaying The Inevitable For ADA? As an ADA holder, and someone who is general long on Cardano... I have loved the CB Pro hype. But I'm also worried that it's only going to delay the inevitable pull back from this last major run. Let's break down the 1 week candles. PAST The run that started last March (2020) ended in ADA being overbought for 77 days. As expected with an overbought stock/crypto - the price proceeded to correct. Price dropped down 46% and hit the .382 fib retracement line PRESENT The run that started in November 2020 has yet to have a major pull back During that run ADA has been overbought for 91 days The Stochastic RSI started to tick down (as expected) THEN THE CB Pro news drops and we get a major pump ADA still flirting in the overbought range... could still see a drop I'm worried that the CB Pro pump is going to give a false sense of security and we are still in for a bit of a correction. Maybe the CB Pro pump means the correction won't be as sever, but I don't think we are out of the woods yet. I would love to be proven wrong... but I would also love for ADA to go on discount and pick up some cheap coin!
KRAKEN:ADAUSD
by worldlyTacos81375
2
COPPER - DUE FOR A MAJOR CORRECTION?Looks like copper finally reached the top of the 5 wave impulse. We also saw an extended 5th subwave as the very last wave in the 5th wave which is typical in the commodity market. Also RSI didn't create a divergence but that is because of the extended 5th wave. We should see copper come down atleast 25-30% of it's value as a correction from the huge run it made that started early 2020. This isn't a "crash", this is just a healthy pullback before the next wave up in the future. I'm not planning on shorting it, but I did take profits on my long positions. I will look to re enter when it is done correcting.
COMEX:HG1!Short
by CathartesCapital