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618 Fibonacci Retracement

EURAUD | Perspective for the new weekThe first observation on this chart is the Descending channel drawn by connecting the lower highs and lower lows of price action with parallel trendlines emphasize the prevailing trend that began in October 2020... It appears the price is willing to respect this channel in the coming week as a Breakdown of AU$1.545000 level followed by rejection is a clue supporting a Bearish bias. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Harmonic pattern (AB = CD) | Descending Channel Observation: i. In the last 21days, the AU$1.54500 level has been a major determinant of the direction of price action. ii. A breakdown of AU$1.54500 on the 10th of March 2021 followed by a continuous rejection of this level in the last 9 days is a clue that structure might transpose into a harmonic (AB = CD) pattern (see parameters below) in the coming week(s). a. Leg A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg makes a 61.8% Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move @ AU$1.50000 area. iii. In the coming week, I shall make the level @ AU$1.54500 a yardstick for downtrend continuation. iv. Pleased note that a significant Breakout of the Channel shall render this setup invalid. Trading plan: SELL confirmation with a minimum potential profit of 400pips. Risk/Reward : 1:4 Potential Duration: 7 to 15 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
4
NZDJPY looking for recent highs 🦐NZDJPY after the recent highs retraced at the 0.618 Fibonacci level. The market from there started to range between 2 structure. Currently the price just break above and if the Plancton's strategy will be satisfied we can set a nice long 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
5
EURNZD will starts a new impulse? 🦐EURNZD is moving below a weekly resistance. The market after the last impulse retraced at the 0.5 Fibonacci level over a minor support with a spike that touches exactly our beloved 0.618. According to Plancton's strategy if the conditions will be satisfied we can set a nice long 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
GBPJPY bounced at the 0.618 🦐GBPJPY is moving inside an ascending channel. The market after the last impulse retraced at the 0.618 Fibonacci level and currently is breaking above the resistance structure. According to Plancton's strategy, if the conditions will be satisfied, we can set a nice long 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
AUDJPY on a bull flag 🦐AUDJPY after the recent highs retraced until the 0.618 Fibonacci level. The market from there started a new impulse until the weekly resistance. Currently, the price is consolidating below a minor resistance inside a bull flag and is attempting to break above. According to Plancton's strategy, if the price will break above, we can set a nice long 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
2
GOLD at a crucial confluence 🦐GOLD after our last profit reached the expected support at the 1685 level. The market is now over a weekly support near to the trendline of the ascending channel. Moreover, the weekly support is exactly at the 0.618 Fibonacci level. We can expect for next week 2 possible scenarios. IF the market will break below we will set a nice short order. IF more likely the price will invert the bearish trend we will be ready to check for a nice long order according to Plancton's strategy. --–– 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
OANDA:XAUUSD
by InkyGrip
28
AUDJPY bounced at the 0.618 🦐AUDJPY after the recent highs retraced until the 0.618 Fibonacci level. The market from there started a new impulse until the weekly resistance and currently is attempting to break above. According to Plancton's strategy, if the price will break above, we can set a nice long 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
GBPNZD will bounce at the 0.618 🦐GBPNZD after the last impulse started a choppy retracement until the 0.618 Fibonacci level. According to Plancton's strategy, if the price will break above, we will set a nice long 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
4
CHFJPY | Perspective for the new week | UpdateThis is a follow-up on my previous publication as we are yet to find a headway (see link below for reference purposes)... Recall, I mentioned in my last publication that we are in a long term uptrend situation on this pair. However, it appears the price is going through a corrective phase that might incite the much-expected rally in the nearest future. In this regard and despite Bullish expectations, I am looking for a "quick" counter-trend opportunity with hopes of a rally in sight. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Harmonic pattern (AB = CD) Observation: i. Since the 16th of February 2021, Bears have been engaging the charts as I expect a transposition to a Harmonic pattern (AB = CD) this week. ii. ABCD pattern with parameters explained below; a. Leg A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is currently hovering around 61.8% (with a possible 78.6% in the future) Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move @ Y115.500/115.000 area. iii. My Key level @ Y117.300 shall be my yardstick for Bearish expectations in the coming week as any spot below this level is good for me! iv. This been said, I am advising that taking this trade requires utmost attention as we are generally on an uptrend and factors that might disrupt this set-up giving way for an immediate rally continuation can happen anytime... trade consciously :)! Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:3.5 Potential Duration: 4 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
1
EURCHF breaks the resistance 🦐EURCHF after the last impulse bounces over the 0.618 Fibonacci retracement a few times and the price now breaks above to the monthly resistance. According to Plancton's strategy, if the conditions will be satisfied, we can set a nice long 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
4
GOLD will retest the weekly support 🦐GOLD after the bounce over the weekly support bounces at the 0.618 Fibonacci level. The price is now turning into a bearish move and according to Plancton's strategy IF the market will break below we can 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
OANDA:XAUUSDShort
by InkyGrip
10
USDCNH | Perspective for the new week | Follow-upWe saw the price decline and move over 1,000pips in our direction since my last publication before the rally began during last week trading session (see link below for reference purposes). Despite the general perception that the USD is on the verge of a rally due to the sudden & rapid rise that appears to be running ahead of itself during last week trading session, I am of the opinion that we are at a juncture in the market where the structure/pattern is "screaming" risk of further decline for the Greenback in the coming week(s). Even though there is room for a possible rally into the major Supply area @ Y6.5100 area, my bias still remains Bearish! Tendency: Downtrend ( Bearish ) Structure: Harmonic Pattern (AB = CD) | Breakdown | Supply & Demand Observation: i. Since the beginning of the year (2021), Buyers have found it difficult to break the Y6.51000 barrier thereby leaving clues of strong selling pressure at this zone. ii. Continuous rejection of the Y6.51000 area followed by a complete Breakdown of Key level (Y6.4600/6.4400) at the beginning of the month (Feb 2021) is a sign emphasizing the strength of sellers. iii. I am of the opinion that the rally that began on the 15th Feb 2021 is a Correction of the Impulse leg AB (expressed on the chart). iv. Last week trading session saw price close at Y6.4600 area - exactly 61.8% retracement of AB with the possibility of extending into the Major Supply zone @ 78.6% retracement (appearing to be a rejection of key level) before the decline begins. v. The setup evolving at this juncture might transpose into ABCD pattern parameters explained below; a. Leg A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is currently hovering at 61.8% (with a possible 78.6% in the future) Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move. vi. It is hereby required that we become patient and wait for a strong Reversal pattern on lower time frames for confirmations... Best of luck and Trade consciously! :) Trading plan: SELL confirmation with a minimum potential profit of 1,000 pips. Risk/Reward : 1:3 Potential Duration: 7 to 14 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
6
EURCHF breaking the monthly resistance 🦐EURCHF on the daily chart after the last impulse started a range between the daily support at 1.07500 and the 1.08600 level. The market bounces over the 0.618 Fibonacci retracement a few times and the price attempts to the monthly resistance. According to Plancton's strategy, if the conditions will be satisfied, we can set a nice long 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
10
USDCHF can bounce over the 0.618? 🦐USDCHF after the last impulse until the monthly resistance retraced back to the 0.618 Fibonacci level. From there the market bounce and now testing a minor resistance. According to Plancton's strategy, if the conditions will be satisfied, we can set a nice long 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.
by InkyGrip
34
GOLD at the 0.618 fibonacci🦐GOLD on the 4 h chart is moving inside a descending channel. The market after the last rejection retraced until the 0.618 Fibonacci level. According to Plancton's strategy if the market will break above we can set a nice long 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
OANDA:XAUUSDLong
by InkyGrip
6
Rising ETF's - 401K optionWith the drop from profit taking in medical cannabis / HEMP CBD ETF's just looking to compare MJ, TOKE and THCX as some of top ETF's in this sector. Did you know you can trade ETF's in 401K fund? Ask your investment holder about this option, as ETF/ETP's are like Mutual Funds, but offer typically lower fee's and entry/exit like a stock. * With recent pullback all nearing golden ratio retracement 0.618. * All 3 have shown similar RSI * THCX was most up on close 2.12 over MJ, TOKE * Legalization expanding, medical benefits of CBD as well and now we're past initial market cycle of segment IPO's and into longer term profit cycle and secondary market investing. * Profitability for most still on-going issue for as they weather early start-up issues (mite/disease/energy/waste/cash flow vs multi-state/country operations growth) * Await Genomic (CRSPR Cas9) improvements in next 1-2 years with improved resistance to spider mite attack with optimized benefits without crop loss risks of past half-decade by all the large growers. * Nicotine reduced crops (Twenty Second Century Growth IP) NYSE:XXII XXII
T
by Pokethebear
GBPCHF a bounce at the 0.618 🦐GBPCHF after the last strong impulse started a slow retracement move until the 0.618 Fibonacci over the previous support. According to Plancton strategy, if the conditions will be satisfied, we can set a nice long 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
10
AUDCHF a bounce at the 0.618 🦐AUDCHF on the 4h chart after the double top at the weekly resistance retraced into a descending channel . The price after breaking below the minor support touches the 0.618 Fibonacci level and now testing the weekly resistance. According to Plancton's strategy, if the market will break above, we can set a nice long 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
6
USDCNH a turn at the 0.618? 🦐USDCNH after the last bearish impulse retraced until the 0.618 Fibonacci level. The price is now testing the support over a trendline and if the market will break below, we can set a nice short order opportunity. --–– 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
24
GBPCAD bounces over the 0.618 🦐GBPCAD on the 240 min chart after the last impulse retraced back until the 0.618 Fibonacci level. The price from there started a new impulse to the upside and now is consolidating below a monthly structure. IF the market will break above, according to Plancton's strategy, we will set a nice long 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
10