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Symmetry

IDENTIFYING POSSIBLES REVERSAL USING FIBONACCI We will be eliminating Fibs while price maintain descending eliminating clusters zones as possible reversals, For those who are not already familiar with the name Fibonacci, you may remember hearing something about it in 2006, when the movie The DaVinci Code appeared in theatres. When Jacques Saunière was found murdered at the Louvre Museum in Paris, the strange position that this deceased character was placed in mimicked the famous painting of the Vitruvian Man by Leonardo da Vinci. This painting has been known to illustrate how Fibonacci ratios appear in the human form. The film also piqued the curiosity of some people when the characters in the film started talking about Fibonacci numbers as part of a clue or code of some sort. The Fibonacci number series and the properties of this series were made famous by the Italian mathematician Leonardo de Pisa. Fibonacci price retracements are run from a prior low-to-high swing using the ratios 0.382, 0.50, 0.618, and 0.786 Extensions are run from prior low-to-high swings using the ratios 1.272 and 1.618 for potential support. They are run from prior high-to-low swings using the ratios 1.272 and 1.618 for potential resistance. Price cluster is the coincidence of at least three Fibonacci price relationships that come together within a relatively tight range. These price clusters identify key support and resistance zones that can be considered to be trade setups. A price cluster can be created from three retracements, three extensions, three projections, or the combination of any of these price relationships. Symmetry using the price projection tool with the 1.0 setting. (This is sometimes called an extension tool on many other analysis programs.) With projections, we are comparing swings in the same direction by using this tool, which allows you to choose three price points to make the projection. I use symmetry most often to project possible support or resistance in order to help me enter a trade in the direction of the trend. I project 100 percent of the prior corrective swings to help identify areas to enter the market in the direction of the trend. swings is the countertrend or shorter-term declines within a larger uptrend, or the countertrend or shorter-term rallies within a larger downtrend.
OANDA:SPX500USD
by TradeChartPatternsLikeThePros
11
SPX SELL ABCD 3 DRIVEThe S&P500 is at the critical of 4800. At this level we have an ABCD completion from the mid May low. This is a major multi month pattern with the added confirmation of a 3 Drive ABCD at the same level. If we expect the same move lower as the previous September retracement then that brings our target to the 382 of the ABCD pattern around 4500 which is a Major level. At this level it could be good buying opportunity. We will see how the next few weeks play out.. A.I has a major Low/High in Feb but I will need to see how Jan plays out to see what it will be. I hope this helps.. Enjoy 2022!!
FOREXCOM:SPX500Short
by L_F
Thoughts on ETH/BTC symmetry (and what may come next...)Hello everyone! I'd like to bring this insight to the community: ETH/BTC chart seems to be respecting a curious symmetrical price action since November 2019. And if this continues to be respected, there will be some agressive moves ahead! So far so good! This symmetrical relation has been quite accurate for 5 times, from points 'A' to 'E' on the chart. Highs and lows have been extremely similar regarding price level and distance from the center vertical line, used as the symmetry reference. This analysis indicates ETH is about to make a powerfull move against Bitcoin any time soon! But then, if you ride this move up, take profits and run away; you don't want to hold for what comes next... A great "buy the dip" opportunity would come later, though! 😅 Extending this symmetry for too long might not be appropriate, however. It seems hard to believe ETH would have a crash agains Bitcoin once the broadening wedge is broken. But till we reach that, I'll be looking closely to this pattern. Do you think we will reach F, G and H accordingly? >> Please leave your thoughts on this idea. 😉 Safe tradings, folks! 📈✅
Long
by B4Baggio
2
$SPY Approaching Symmetry.Do you believe in symmetry? Do you use Fibonacci levels? If so, you may find this confluence of Fib levels and their relationship to symmetry interesting. The S&P 500 represented by $SPY is approaching a full re-tracement of the 2020 Covid induced selloff. Moreover, the key 1.618 Fib level from that sell off was breached today, albeit hardly. The Fib trend extension level 2.272 from the fall sell off represents the full re-tracement of the Covid selloff. Coincidence?
AMEX:SPY
by Breakout_Charts
1
DJ30 will Fall to 32200 the Upcoming Week - Part 4 (Beauty)Now for the final part of the analysis of the market trend and the forecast that it would fall this week. Do you believe in horoscopes? or God? Perhaps, this post could make you change your mind about one of them. The market movement is controlled by the mystic Fibonacci sequence. Whether it is by inherent design of mass action or due to the collective following a common myth, I am not sure. Maybe I should read more about it. However, what is for sure is that whenever I use my favorite tool, the Fibonacci Spiral (aka. Golden Spiral), everything fits perfectly. If we look at this chart, I traced almost all the market movements in the monthly chart and they all offered to perfection the historic support and resistance of other trends, as well as future ones. Now, I traced the current trend as if it would end this week with the red spiral, and as you would guess, it fits perfectly, which is a strong indication of a market correction this week , since it would get more complicated later if it doesn't happen. To know the magnitude of the hypothesized correction, I drew the trend line I believe is the most likely to offer support (check the previous parts of this analysis) and traced from the current point another spiral to the line in the current month. The intersection point is nearly 322000, the point I already forecasted from previous analysis -- and it fits also perfectly. Here you go, a slightly irrational analysis based on symmetry, beauty, and abstraction, which, for me at least, is the most convincing of all. P.S. If I am wrong and it doesn't happen this week, then it should happen in 2 weeks -- still within this month. P.P.S. When the correction happens, it should have a more massive effect on NASDAQ, which could trigger a bearish market. That's still to be seen. P.P.P.S. As it is usual, TradingView messes with Fibonacci when aspect ratios are changed. For the correct;y fitted one, please check the photo below (use "Open image in a new tab" or so):
CAPITALCOM:US30Short
by MontyMacht
3
CTSIBTC is creating a symmertical triangle 🦐📐The price is testing the upper resistance of symmetrical triangle. IF the price will have a breakout and test the current resistance as new support, According to Plancton's strategy (check our Academy), we can set a nice 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.
Long
by InkyGrip
9
Where will this bull run end?Utilizing Elliot Wave theory we can derive a 5 wave pattern that gives us two targets using two methodologies. The first most simple is to take the magnitude of wave 1 and project it from the beginning of wave 5 which gives us a target of about 3999. The second methodology uses a combination of points from waves 3 and 4 to project several Fibonacci levels and the nearest equates to about 4005, this is the level to watch very closely b/c if we break it there could be a lot more upside and if it acts as resistance we could be in for a correction. It should also be noted that MFI on SPY futures reached a maximum of 68.97 in the past several months and I believe we are at about 66 now, whether the 69 level breaks will be interesting, Please leave any comments and questions.
CME_MINI:ES1!
by TNasr
Charts have been messing with me lately...The fact that DXY kept showing higher highs had bothered me for a while. Suddenly I realized, I made the error of trying to compare charts with each other, because in the end a lot of confusion struck my mind. Its funny that I have not seen this chart in the first place, but when I saw it I was flattered by the fact that measurements of the rallies within the recent pullback, is a perfect example of the Fibonacci sequence: The three rallies can be measured down to 13%, 8% and 5% advances. 13, 8 and 5 are numbers in the Fibonacci sequence. The last 5% advance shows a perfect butterfly pattern, with a perfect ab=cd, in which both price and time are equal to 200% AB. This alone is a strong signal. Target: A I hope most of you guys already knew all of this in advance but somehow missed to share it with me through the comments below, but lets make sure the recent performance does occur again, shall we!! Good luck to all trading AUD/USD
Short
by MikulovicFOREX