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618 Fibonacci Retracement

Power of Candlesticks (AUDCAD analysis)Hey guys, today i want to show you the power of candlestick combined with structure. Here is the 4H chart on AUDCAD, and the price is coming back to retest the 618 level of the bigger daily impulse; this level also lines up with a structure (that you can see if you scroll the chart). With this two level i was able to draw a box where i can search for shorting opportunities down on lower timeframes, and that is what happened. As soon as price reached this zone it stopped its upward move and gave us a strong selling pressure signal (pinbar) followed by an engulfing candle. In order to get the real power of candlestick you can sometimes combine 3-4 candles together and see what's coming out. In this case on the right i've drawn the result and it shows us very strong sellers. At this point, knowing the level it's so much important i want to short at the first retracment. Stops above highs, first target at 1,5:1 RR and second target to be determined. If you have questions or you want to share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
1
Candlestick Power (AUDCAD analysis)Hey guys, today i want to show you the power of candlestick combined with structure. Here is the 4H chart on AUDCAD, and the price is coming back to retest the 618 level of the bigger daily impulse; this level also lines up with a structure (that you can see if you scroll the chart). With this two level i was able to draw a box where i can search for shorting opportunities down on lower timeframes, and that is what happened. As soon as price reached this zone it stopped its upward move and gave us a strong selling pressure signal (pinbar) followed by an engulfing candle. In order to get the real power of candlestick you can sometimes combine 3-4 candles together and see what's come out. In this case on the right i've drawn the result and it shows us very strong sellers. At this point, knowing the level it's so much important i want to short at the first retracment. Stops above highs, first target at 1,5:1 RR and second target to be determined. If you have questions or you want to share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
2618 on EURJPY!!Hi guys, Yen pairs lately have been very bearish, keep creating lower lows and lower highs. In cases like this we only want to get involved in a bearish trade, like this one. Price is up to retest a previous level of 4H structure and it's finding difficulties breaking through. You can see it tried to break twice and failed, thus creating a double top: the most interesting part though is the break of structure to the downside that somehow confirms our bearish bias. So you can use, according to the 2618 strategy, the 618 retracement of the impulse that broke the neckline. Stops above the highs, targets as illustrated above. If you have any question, or you want to share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2618 on EURJPYHi guys, Yen pairs lately have been very bearish, keep creating lower lows and lower highs. In cases like this we only want to get involved in a bearish trade, like this one. Price is up to retest a previous level of 4H structure and it's finding difficulties breaking through. You can see it tried to break twice and failed, thus creating a double top: the most interesting part though is the break of structure to the downside that somehow confirms our bearish bias. So you can use, according to the 2618 strategy, the 618 retracement of the impulse that broke the neckline. Stops above the highs, targets as illustrated above. If you have any question, or you want to share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Bunch of clues on EURCADHi guys, i've already published few days ago an idea on this pair. Unfortunately we weren't able to take advantage of that idea, but now price has given us a second chance. It has came back to retest the daily structure level (that also lines up with the 618 retracement and a round number) and has formed a nice pinbar showing us some buying rejection. The divergence on the RSI additionally confirm our view. Stop below the low, (conservative) targets as illustrated above. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Another long opportunity on EURCADHi guys, i've already published few days ago an idea on this pair. Unfortunately we weren't able to take advantage of that idea, but now price has given us a second chance. It has came back to retest the daily structure level (that also lines up with the 618 retracement and a round number) and has formed a nice pinbar showing us some buying rejection. The divergence on the RSI additionally confirm our view. Stop below the low, (conservative) targets as illustrated above. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Lots of clues on GBPCHFHi guys, today i want to bring this analysis i've made on GBPCHF. As you can see we're in a daily structure zone (blue rectangle) and price is having some difficulties breaking through. Actually it's created a nice double top with RSI divergence (down on the bottom) right at this level, that's also lining up with the 618 retracement and a psychological number (1,2600). Also, there's a Bat pattern that's just completed and it's a good confimation of the sell signal. Stops would go above X, targets as in the picture above. If you want to share your view, or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
4
Double Top at market on GBPAUDHi guys, this morning we could have a chance to get involved in this trade. Now i'm going to explain you why: first of all, the big yellow box represents a daily structure level, this level happens to line up pretty well with the 618 retracement of the bigger daily leg. In this cases i seek for trading opportunities down on lower timeframes: on the hourly chart you can see we have a double top forming right now, with RSI divergence. An additional clue could be the psychological level price is testing (1,6700). I'm waiting to see how the next candle will be. Keep you updated. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Double Top on GBPAUDHi guys, this morning we could have a chance to get involved in this trade. Now i'm going to explain you why: first of all, the big yellow box represents a daily structure level, this level happens to line up pretty well with the 618 retracement of the bigger daily leg. In this cases i seek for trading opportunities down on lower timeframes: on the hourly chart you can see we have a double top forming right now, with RSI divergence. An additional clue could be the psychological level price is testing (1,6700). I'm waiting to see how the next candle will be. Keep you updated. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Possible Reversal Zone on GOLDHi guys, today i want to bring you my view of gold. It's been in a recent uptrend and it's creating new highs but i think this could be a bigger retracement of the downtrend in the big picture (weekly). By using a simple AB=CD harmonic pattern and two Fibonacci levels i've managed to create a small reversal zone where price actually is right now. Here we have two different AB=CD harmonic patterns, a 618 retracement and a 1.618 extension. The RSI is in overbought condition. All these conditions together make me think it could be a nice shorting setup. If you want to share your view, feel free to comment below. Otherwise, see you in the next chart!
FX:XAUUSDShort
by Roker1
Reversal Zone on GOLDHi guys, today i want to bring you my view of gold. It's been in a recent uptrend and it's creating new highs but i think this could be a bigger retracement of the downtrend in the big picture (weekly). By using a simple AB=CD harmonic pattern and two Fibonacci levels i've managed to create a small reversal zone where price actually is right now. Here we have two different AB=CD harmonic patterns, a 618 retracement and a 1.618 extension. The RSI is in overbought condition. All these conditions together make me think it could be a nice shorting setup. If you want to share your view, feel free to comment below. Otherwise, see you in the next chart!
FX:XAUUSDShort
by Roker1
4
2618 trade setup on EURNZDHi guys, this evening i want to share with you a nice setup on EURNZD. The black line represents a daily structure level that should act as support: indeed, price failed to break that level and instead it has created a double bottom with RSI divergence. Then, price also broke to the upside the neckline and it's now pulling back to 618 retracement that seems to hold. According to the 2618 strategy we can buy here and have our first target at the retest of the highs, with stops below 1,52 level. Target2 to be determined. If you want to share your view or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
2618 on EURNZDHi guys, this evening i want to share with you a nice setup on EURNZD. The black line represents a daily structure level that should act as support: indeed, price failed to break that level and instead it has created a double bottom with RSI divergence. Then, price also broke to the upside the neckline and it's now pulling back to 618 retracement that seems to hold. According to the 2618 strategy we can buy here and have our first target at the retest of the highs, with stops below 1,52 level. Target2 to be determined. If you want to share your view or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
2
Structure Play! (EURCAD analysis)Hi guys, i wanted to share with you this simple structure play. If you zoom out or if you give a look at the daily chart, you'll see that we are now testing a key structure zone on the daily. Therefore i use to lower a timeframe in order to catch an inversion with nice risk to reward ratio. This level also lines up pretty well with the 618 retracement and the psychological number of 1,4100. Plus, we've got RSI divergence and RSI overbought at this time. The clues are enough for me to take this trade, i'm waiting a pullback in order to get a better risk to reward ratio. Stop below the lows, targets as illustrated above. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Structure Play on EURCADHi guys, i wanted to share with you this simple structure play. If you zoom out or if you give a look at the daily chart, you'll see that we are now testing a key structure zone on the daily. Therefore i use to lower a timeframe in order to catch an inversion with nice risk to reward ratio. This level also lines up pretty well with the 618 retracement and the psychological number of 1,4100. Plus, we've got RSI divergence and RSI overbought at this time. The clues are enough for me to take this trade, i'm waiting a pullback in order to get a better risk to reward ratio. Stop below the lows, targets as illustrated above. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Consolidation Breakout on EURJPYHi guys, today i want to share with you this simple consolidation pattern called triangle: it basically consists on one trendline and one horizontal structure level converging at the same level. Price is making lower highs and equal lows. As you can see on the chart above though, price has actually broken to the upside this trendline, also breaking the double bottom's neckline (giving us a 2618 entry technique). Plus, the black line represents an important daily structure level, and on the daily chart the RSI is in oversold condition. All these conditions together make me think it could be a nice spot to go long here. I'm waiting for the completion of the 2618 in order to enter long. Stops below the lows, target1 at the retest of the highs, target2 at the top of the triangle. If you have any questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Time for a Big Reversal? (EURAUD analysis)Hi guys, here we are on the 4H chart on EURAUD, i've been watching it for quite a bit now. As you can see price is now testing a key resistance level that also lines up with the 618 retracement of the previous leg. As soon as price came to that zone, it got immediately rejected by some selling pressure. I'm selling at 1,413s level, with stops just 2-3 pips above 1,4200. Target1 would go around 1,4050. If it breaks the head and shoulders neckline it could go all the way down to 1,3900 and even further. I'll keep you updated. If you want to share your view, or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Time for a Big Reversal? Hi guys, here we are on the 4H chart on EURAUD, i've been watching it for quite a bit now. As you can see price is now testing a key resistance level that also lines up with the 618 retracement of the previous leg. As soon as price came to that zone, it got immediately rejected by some selling pressure. I'm selling at 1,413s level, with stops just 2-3 pips above 1,4200. Target1 would go around 1,4050. If it breaks the head and shoulders neckline it could go all the way down to 1,3900 and even further. I'll keep you updated. If you want to share your view, or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1