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Fibonacci Retracement/Extensions- How & Why? | Live ExampleFibonacci retracements in technical analysis of various assets use a mathematical sequence discovered by Italian mathematician Leonardo Fibonacci. This sequence is a series of numbers where each number is the sum of the two preceding ones: 0, 1, 1, 2, 3, 5, 8, 13, 21, and so on. In stock trading, Fibonacci retracements are used to identify potential levels of support or resistance during price corrections. Imagine you have a stock that has been rising in price for some time. Suddenly, it starts to decline. Traders who use Fibonacci retracements believe that during this downward movement, the stock price will likely retrace or bounce back to certain levels before continuing its downward trend. These retracement levels are derived from the Fibonacci sequence. The most commonly used levels are 38.2%, 50%, and 61.8%. For example, if a stock's price drops from 100 to 80, traders would expect it to bounce back to around 88.20 (38.2% retracement), 90 (50% retracement), or 93.20 (61.8% retracement) before continuing its decline. While their effectiveness is debated just like any other tool, many traders including myself believe that these levels act as psychological support or resistance points due to the large number of market participants who follow this approach. Let us get back on the example above. I drew a trendline which had helped me back in 2021 to predict the top in GOLD. This is the perfect example of how EVERY PRICE movement matters. The Fibonacci levels are derived from levels from 2008. In this example the Fibonacci extension level 3.618 held as a perfect resistance for the price of GOLD. 2008 to 2023, isn't this amazing? How long can a single price movement can have its affect! How to draw a Fibonacci Retracement/Extension? It's fairly simple. Just plot one end of the fib to the high of the price movement and the other to the low or vice versa. I'll answering all your queries in the comments below. Please feel free to reach out!
TVC:GOLDEducation
by YieldYogi
2
UNITED HEALTH rebound on 1D MA50 leading to 610 long term.UNH held yesterday the 1D MA50 and is on a strong 1D candle rebound today. Despite this, the 1D technical outlook is on healthy bullish numbers (RSI = 64.198, MACD = 4.620, ADX = 38.658) as the underlying pattern is a Channel Up since the July 13th low. The stock's most common rise extension is inside the 15.32-15.96% range, which we've seen three times in the last eight months. Consequently we aim at the +15.32% minimum (TP = 610.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NYSE:UNHLong
by InvestingScope
VONE.N0000Buy Zone mentioned in the chart. Closely monitor fib levels as well. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:VONE.N0000Long
by rukshan2102
APPLE: In danger of repeating the Bear Cycle fractal.AAPL could be on the verge of completing November's insane rally that restored bullishness on the 1W chart and keeps the 1D technical outlook in green (RSI = 64.212, MACD = 3.520, ADX = 54.247) as it is failing so far to cross over the LH trendline of the Bearish Megaphone pattern. A structure that up until now is identical to the Megaphone that led to the 2022 Bear Cycle. In fact the correction started on the current leg we are at that got emphatically rejected on the LH line. After the 1D MA50 failed to support, the selloff (first of that Bear Cycle) extended as low as the 1.618 Fibonacci level. Currently that is at 150.00. Conversely, on January-February 2023 rally, it was the 1D MA50 that held and provided Support, which in turn had the uptrend continue and extend considerably higher to July's All Time High. Consequently, if the 1D MA50 holds, expect a similar March-July 2023 type continuation of the uptrend, especially if the Fed decides to finally step in and start cutting the Interest Rate. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NASDAQ:AAPL
by InvestingScope
🚗Tesla🚗 will Go Up at least 🚀➕10%🚀👋Hi, today I want to introduce you to a stock that is likely to grow by at least ➕10% in the coming days or in the coming week . 🚗The name of this stock is Tesla(TSLA) . 🥇After the Golden Cross was seen in Tesla, I hope there is more for the Tesla to grow. 📚🥇 Golden Cross Signal 🥇: In technical analysis, a golden cross occurs when the 50-day Moving Average(MA) crosses above the 200-day moving average. It's a bullish sign, indicating that the market may be heading toward a longer-term uptrend or bull market. ✅Currently, Tesla reacted well to the Uptrend line and SMA(100) and started to grow with a Bullish Marubozu Candle yesterday. 🔔I expect Tesla to close the Breakaway Gap soon and grow at least ➕10% . If you want to know about the types of Gaps , you can read the following article.👇 Tesla (TSLAUSD) Analyze, Daily time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
NASDAQ:TSLALong
by pejman_zwin
92
💻Microsoft Corp💻 ➕20% growth potential🚀✅ Microsoft Corp reacted well to the 🟢 Support zone($317_$300) 🟢 and reached the Downtrend line . 🌊According to the theory of Elliott waves , Microsoft Corp completed the main wave 4 [Zigzag(ABC/5-3-5) ] in the 🟢 Support zone($317_$300) 🟢 so that the main wave 3 structure was Extended . 🔔I expect Microsoft Corp to rise to the minimum 🔴 Resistance zone($366_$344) 🔴 after the downtrend line is broken, and if the resistance zone is broken, it will rise to the end of the main wave 5 that I specified in the char(➕ 20% ). Microsoft Corp (MSFTUSD) Analyze, Daily time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
NASDAQ:MSFTLong
by pejman_zwin
44
TESLA: Has seen this pattern before and can target $800.TSLA is on critical crossroads as it is approaching the LH trendline of the November 1st 2021 All Time High and that will basically be the third test in a little over 4 months. With the 1W technical outlook neutral (RSI = 53.560, MACD = 5.620, ADX = 26.050) we can't be sure it will break but if it does, a fractal from the distant past (2015-2017) shows that it can target the 1.5 Fibonacci extension. That is just over $800 and that will be our target once we close a full 1W candle above the LH. Even the 1W RSI patterns of the two fractals are similar. A third, not entirely similar fractal in 2019, also broke upwards (even more so) aggressively once the stock crossed over the LH trendline. Heading into 2024 our thesis is very bullish on Tesla. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NASDAQ:TSLA
by InvestingScope
1
LOLC.N0000Death cross is now appearing daily chart. Closely monitor the GAP indicated in chart and fib levels as well. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:LOLC.N0000Long
by rukshan2102
$MATIC Price Action strategy.CRYPTOCAP:MATIC Polygon on the 1-hour timeframe faced rejection near the 50 EMA line (colored red), favoring the bears as the price broke through the previous support and is now approaching the Optimal Trading Zone (OTZ). It is crucial to remain vigilant, set alerts, and be prepared for the price to descend into this zone. As part of my strategy, a confirmation for a double bottom pattern will be considered if the price closes inside or above the OTZ. This confirmation will serve as the trigger for initiating a CRYPTOCAP:MATIC trade.
MLong
by LimitlessRx8
Cardano bullish idea.After taking a swing at the elusive $0.40 target last Wednesday (11/15/2023), ADA got a taste of rejection. But, true to form, the next day, Cardano dusted itself off, shrugged off the setback, and made a bloody good comeback. Now, pay attention. Picture Cardano strutting back into the ring, ready to take on a new, formidable resistance level. The bulls are eyeing triumph, and breaking through? Well, that's the key to unlocking a potential surge in Cardano's overall value. I'm eyeing the $0.50 - $0.60 territory.
by LimitlessRx8
1
GOOGLE: Second major bullish wave already under way.Google closed the week over the 1D MA50 with the 1D technical outlook bullish (RSI = 57.062, MACD = 0.820, ADX = 43.635) again for the first time since October 24th. The rally since October 27th low is the second major bullish wave of the Channel Up pattern that Google is trading inside for almost 12 months. We expect the first part of this wave to peak after completing a +20% move (TP1 = 146.00). But on the longer term, the overall wave should make a HH at the top of the Channel at around +45.50% from the bottom (TP2 = 175.00). The 1D RSI is trading inside a Channel Down, suggesting a decelerating trend. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NASDAQ:GOOGLong
by InvestingScope
2
ROCKET LAB: Bottom formation complete. Expect strong rise.RKLB is trading inside a Channel Up for 15 months and is near its bottom HL trendline. Being bearish but close to neutral on the 1D technical outlook (RSI = 43.294, MACD = -0.060, ADX = 22.552), the price is undergoing a similar Bottom formation as March-May. On both sequences the 1D RSI was rising on an HL trendline. Having completed a -50% decline from the Channel's top, the stock will gives us the buy validation when it closes the first 1D candle over the 1D MA50 for the first time since September 5th. We will buy and aim for the 0.618 Fibonacci level (TP = 6.15) even though we may see a bigger rise to the top of the Channel Up for a new HH. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NASDAQ:RKLBLong
by InvestingScope