Novi_Fibonacci

Novi_Fibonacci Mod Updated 

OANDA:USDCHF Bears have started the week off hot with Price having dropped 1.16% at the time of publication since Market Open. This price decline has seen a Breakout and fresh low after price has been caught in a Bearish Triangle Pattern, formed by Lower Highs into a Support Level. 1) Price has been trading well Below the 200 EMA. 2) After Price makes contact...

Novi_Fibonacci Mod Updated 

Here we can see COINBASE:ALGOUSD is about finished forming a Continuation Pattern, the Bullish Wedge! Price has made an impressive .50 increase since Trump taking office but has slipped into quite a steep Consolidation Phase where Price has made run for the 88.6% Retracement and seems to be filling out the rest of the "Point" of the Wedge! Accompanying the...

Novi_Fibonacci Mod

We can see FX:GBPUSD retrace a tad further up to the Volume Imbalance that was created over the weekend of April 4th - 7th. After Price made its High @ 1.3207, it was immediately rejected back down below the Past Level of Support that is now showing signs of Resistance! - Following that Higher High not only resulted in a Lower Low but also sent the RSI under 50...

Novi_Fibonacci Mod

First, In the Higher Timeframes (4Hr - Weekly), we can see that USDJPY is traveling down a Descending Channel since Jan 10th. Price tried pushing higher in March but ultimately fell back within the Channel beginning of this month (April) resulting only in a False Breakout but also creating a Fair Value Gap from 148.698 - 147.429. Now down on the Lower...

Novi_Fibonacci Mod

On the Technical Analysis stand-point, FX:AUDUSD has been Consolidating in an Ascending Channel since the beginning of this year after having a sharp decline which started in October last year. Now the past 6 Months, Price Action seems to be forming a strong Continuation Pattern, the Bear Flag! Based on the Retracement from the Swing High @ .6942 to the Swing...

Novi_Fibonacci Mod Updated 

OANDA:EURJPY Long Opportunity Price has made a Breakout of the Falling Resistance of the Pennant Pattern it has been forming the past couple of weeks. The Breakout meets all the requirements needed to be validated as a True Breakout! With Price trading above the 200 EMA, this adds more confirmation that the Bulls are in-control and we can reasonably expect to...

Novi_Fibonacci Mod

OANDA:USDCHF has been in a Correction Wave since the beginning of January and we now see that Price may have finally found Support at the 1.809 Fibonacci Extension Level of the Correction Wave. With both Lows in March finding Support at the 1.809 Fibonacci Extension Level, Price is beginning to form what looks like a Reversal Pattern, the Double Bottom! **...

Novi_Fibonacci Mod Updated 

Lets break down what COINBASE:HBARUSD may be setting up for a long-term scenario! We saw a impressive Bullish Rally from beginning of November 2024 that facilitated a Breakout of the April 2024 High @ .1842 to then create its All Time High @ .4010. With this Price Action going from a Significant Low to create a new Higher High, we can apply the Elliot Wave...

Novi_Fibonacci Mod

COINBASE:ADAUSD has some very interesting Price Action happening with the decline starting from beginning of December 2024 forming what looks to be a Descending Channel with the potential to become a Bull Flag! With a Bull Flag being a Continuation Pattern, we can expect a higher probability of a Bullish Break to this Channel to continue in the trend it was...

Novi_Fibonacci Mod Updated 

OANDA:USDCHF is exhibiting a Rounded Top Pattern suggesting further decline is coming Price is currently Breaking Confirmation of the Pattern - RSI Below 50 - Bearish Volume Building Waiting for a Break and Close to Validate a True Breakout Once Validated, we can look for a Break and Retest Trade Set-up for Shorts from the .898 Area to take down to the Range...

Novi_Fibonacci Mod

OANDA:USDCAD has been trading in a Sideways Consolidation for 2 months now and last week finally delivered a Breakout! After the massive rally to 1.47926, price immediately plummeted down to not only fall back into the Consolidation Range but to then Breakout of the Support of that Consolidation. This Breakout is followed by massive Bearish Volume on top of RSI...

Novi_Fibonacci Mod

FX:GBPUSD ended last week with a Bullish Price Breakout of the Ascending Triangle that it fell into after breaking down below Support-Turned-Resistance and finding Support at the October 2023 Lows last month. Overall indicators suggest we could be experiencing a Valid Breakout of this pattern due to: 1) Strong Breaker Bar with Close outside of Range 2) Based on...

Novi_Fibonacci Mod

OANDA:GBPJPY has formed the Bullish Reversal Pattern, Inverse Head & Shoulders! Price has broken up above the Down-sloping Neckline to confirm the pattern. Once the Break is Validated by retesting the Neckline and is Supported, the pattern could deliver a good buying opportunity around the 188.5 area to take up to the February Resistance Level and potentially...

Novi_Fibonacci Mod

Based on the Aug. 5th Low (A), Aug. 15th High (B) & Sept. 16th Low (C) we are able to project an Up-trending Andrew's Pitchfork. After price makes a Fibonacci Retracement to the Golden Ratio (61.8%) of the Pitchfork Range, price falls to the Previous High or Point of Interest finding support to then rise and stall out at the Linear Regression or True Trendline of...

Novi_Fibonacci Mod Updated 

There's some big tells in what COINBASE:HBARUSD could potentially be getting ready to do so lets break it down on the Daily Chart! Since the High on Dec. 3rd @ .392, Price has steadily been forming what looks to be a Descending Triangle while finding Support in the ( .25 - .23 ) cent range. Bearish volume building and RSI going from Overbought to currently...

Novi_Fibonacci Mod

FX:USDJPY starts 2025 in what appears to be a Falling Wedge, but following the 50% Fibonacci Retracement based from the Low @ 148.639 to start December 2024 to the High @ 158.874 last month, Price seems to may be ready to setup for a Bullish Break of this Pattern. To see if FX:USDJPY has truly Broken Out of the Falling Wedge, here are some signals: 1) While...

Novi_Fibonacci Mod Updated 

Last week we saw FX:GBPUSD attempt to Break Above the 1.25 Resistance Zone that its been struggling with since November 2024 and was sent back down underneath following the Fed's decision to Hold Interest Rates. We can see that Price so far seems to be following a Head & Shoulders layout where Price now is declining down to the Low that formed the "Left...

Novi_Fibonacci Mod Updated 

Price has rallied quite a bit for OANDA:USDCAD since its last visit of the Rising Support @ 1.34189 and we currently see Price showing quite a bit of exhaustion at the March 2020 Highs @ 1.44664! This exhaustion comes in two Reversal Patterns: Advance Block - 3 Candlestick Reversal Pattern + (Bearish Confirmation Candle) Hanging Man - Single Doji Reversal...