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Retracement

🌧️ ORN Possible ReversalAfter the release of their trading terminal, ORN has been in a huge selloff (typical sell the news scenario). However, the retracement has been going on for longer than expected and there is still huge sell volume, causing ORN to be kind of oversold right now. According to Binance's order book depth, there's a huge wall of buy orders at around $17.4, so we can expect the reversal to occur around there. Meanwhile, selling pressure is decreasing, and faces a significant wall at around $19.5 - $20.0. Following the Fibonacci retracement, we can expect the price of ORN to continue its retracement to around the $16.5 - $18 zone, which we can target to buy in. Should you choose to do so, make sure to watch the Average True Range to set your stop losses below any wicks of the next Fibonacci line. As it stands, ORN stands to gain around 50% with a risk:reward ratio of around 1:6 due to huge overselling as confirmed by the Relative Strength Indicator approaching the lows for both 4h and 1D time charts. While ORN currently faces terminal issues with their servers, in the long term we see good things on their roadmap like more trading pairs and liquidity, as well as the release of staking which will allow passive income on the ORN platform, giving a bullish outlook for April. Buy: $16 - $18 Stop loss: $15.5 (Watch ATR) Take profit: $24.7 - $29.7 Note: This is not financial advice, and is simply an opinion. Always remember to do your own research.
OLong
by RainyTrader
ADA in possible last correction wave before next Impulse?BINANCE:ADAUSD Working mostly from 1D chart and using *fib charts above and below ( 3D, 5D, 8H, and 5H). I will check the lower times for confirmation or signs of momentum. IE: Steep slopes The Blue line represents the 1D Impulse wave with the estimated correction wave on the end. I used fib retracements to approximate a potential location of the low and the next high in the beginning of the next impulse wave. The White line is from 5H timeline, to see the fractal impulse waves in a lower timeline. Upper timelines don't contain enough overall information. Volume has been low and the last week has been fairly sideways. The VPVR: (1) & (4): Volume Area Down is greater (2) & (3): Volume Area Up is greater Looking at the VPVR from the prior uptrend shows what kind of Volume area ADA might need to get that kind of momentum again. NEWS and Other factors I've read that March is a consolidation month and it typically slows growth down. NFT announcements have spurred a lot of new interest but also potential scams with NFTs. My plan, NOT advice for you to blindly follow I will be waiting for volume confirmation or other indicators to tell me if we're about to spike down or up. I am waiting for this last dip that I'm expecting, then I'll buy and go long for the first wave of the next impulse wave.
by Erialos
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