Get started

618 Fibonacci Retracement

USDCHF is showing us weakness!Hi guys, i'll briefly explain why i'm shorting this pair. The black line that you see represents a 4hr structure level; the yellow box represents the reversal zone based off of the daily chart. As the price reached this two level it started to slowing down. In addition, it gave us some signals that maybe wants to go lower: the first indecision sign is provided by the pinbar that you see highlighted with the red arrow, and it's also been followed by a red candle that closed below the previous opening. Also, the level lines up pretty well with the 618 retracement of the impulsive move down. Rsi divergence tells us that the upward momentum is running out of fuel. Stops above the highs, target1 at the 382 retracement of the previous move, target2 at the 618. If you want to share your idea about this or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Bunch of clues on GBPNZDHi guys, here on GBPNZD as you can see we have a nice double bottom (with RSI divergence) right at the completion point of the Cypher pattern. Besides, this level is also a level of structure that lines up pretty well with the 618 retracement of the bigger leg. The last bullish candle is the final sign of a possible reversal. We'll see. Stops below the low, target1 at the retest of the highs, target2 to be determined (right now i think at the second cypher's target) If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
3
Structure Exposed!!Hi guys, this is a simple structure trade: you can see price is coming back to retest the former resistance that once broken should turn into support. This is also lining up pretty well with a 618 retracement and a psychological number (1,40). You can see also a pin bar just formed with OVERSOLD condition. All those clues together make this trade a nobrainer. If the current candle will reject again that level i think i'm going to buy. Stops obviously below the pin, target1 and 2 with 382 and 618 retracement. Always look left. Structure leave clues! If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Structure Exposed!Hi guys, this is a simple structure trade: you can see price is coming back to retest the former resistance that once broken should turn into support. This is also lining up pretty well with a 618 retracement and a psychological number (1,40). You can see also a pin bar just formed with OVERSOLD condition. All those clues together make this trade a nobrainer. If the current candle will reject again that level i think i'm going to buy. Stops obviously below the pin, target1 and 2 with 382 and 618 retracement. Always look left. Structure leave clues! If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Gold is about to fall?Hi guys, i don't trade gold yet but i want to apply some of my structure analysis here for i think this could be interesting. As you can see price is now testing a resistance zone, that also lines up with the 618 retracement of the bigger daily leg. On the bottom of the screen you can also see some divergence on the RSI. At the moment price is also showing some rejection in a form of an engulfing candle. Risk to reward is very nice. If you are conservative you can wait for additional confirmation, like a break of the trendline. If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
FX:XAUUSDShort
by Roker1
6
2618 on AUDCADHi guys, few days ago i've published a shorting opportunity on this pair. But that doesn't mean we can't change our mind. In this particular case, i've missed the short entry but that was in fact a counter trend trade. Now price has retraced back right on the previous resistance that was broken and that could turn into support (black box). Since we have a double bottom, with Rsi divergence, broken to the upside, i think this could be a good spot to long this pair (using the 2618 strategy). Stops below the lows, target 1 and 2 as in the chart above. If you want to share your viewpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Long opportunity on AUDCADHi guys, few days ago i've published a shorting opportunity on this pair. But that doesn't mean we can't change our mind. In this particular case, i've missed the short entry but that was in fact a counter trend trade. Now price has retraced back right on the previous resistance that was broken and that could turn into support (black box). Since we have a double bottom, with Rsi divergence, broken to the upside, i think this could be a good spot to long this pair (using the 2618 strategy). Stops below the lows, target 1 and 2 as in the chart above. If you want to share your viewpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
GBPUSD at a decision point! Will it hold?Hey guys, today i want to bring your attention to GBPUSD. As you can see, looking left, there are multiple structure level that acted as supports or resistances. This level also lines up with the 618 retracement and a psychological number. So i'm going to look for a double top or a simple candlestick formation right there. I'll keep you updated. If you want to share your standpoint, or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
Flag Pattern on AUDNZDHi guys, here on AUDNZD we have no structure looking left on the higher timeframe. In cases like this i start looking for simple pattern formations, like flags, triangles and wedges in the trend direction. On the chart above you have what could be considered a flag pattern that's been broken to the upside. Price is now retracing back and giving us a better risk to reward ratio. Stops below the previous lows, target1 at the retest of the highs, target2 to be determined (could go very far). If you want to share your viewpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Flag pattern on AUDNZDHi guys, here on AUDNZD we have no structure looking left on the higher timeframe. In cases like this i start looking for simple pattern formations, like flags, triangles and wedges in the trend direction. On the chart above you have what could be considered a flag pattern that's been broken to the upside. Price is now retracing back and giving us a better risk to reward ratio. Stops below the previous lows, target1 at the retest of the highs, target2 to be determined (could go very far). If you want to share your viewpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Flag pattern on EURUSD (TCT trade)Hey guys, in this pair price recently broke and closed above the previous resistance area. Therefore we're looking to get on the trend as soon as we can. When such big impulses happen, there's usually no space for deep retracements, and so we need to use some simple patterns (flag, triangles) in order to catch the move higher. In this case you can see a flag pattern already broken. Wait for a retest of the trendline or a 618 retracement and then you can buy. Target1 at the retest of the highs, target2 to be determined. Let's see. If you want to share your viewpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Structure speaks to us! (EURAUD analysis)Hi guys, this time i want to share with you a simple structure trade, in order to let you understand how i analyze markets so that i can find the best opportunities. I utilized two charts in this case for you have to get the reasons behind this thought process. In the left hand side of your screen, there's the 4HR chart, and you can see price has created two consecutive new structure high, that is the definition of an uptrend. Now, in order to get on the trend we must wait for price to come at our comfortable zones (where we can exploit the market): in an uptrend there are two levels to be careful of, the first is the broken resistance that could become support, the second is the previous support. Right now price is sitting right in the previous support zone and it seems to be forming a double bottom (with RSI divergence) that could give us a nice trading opportunity. Also, notice that there's the 618 retracement and a psychological number lining up in this yellow box. Definitely keep an eye on that. I'll update you in case of entry. If you have any question, or you want to share your viewpoint, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Bunch of different clues on AUDNZD!Hi guys, i want to explain to you why i'm going to short this pair if price pulls back a little bit more. As you may know audnzd -0.12% has been moving upward without interruption: both in the daily and 4hr chart Rsi is in overbought condition, and this tells us that market is overextended and there's maybe some room to retrace and let the trend breath. Obviously i don't trade based off of only RSI , but it gives me a good indication of what the market could do. In this case we have different clues pointing in the same direction. First, we have structure at the black line level, together with a psychological threshold (1,0900): at this level you can see price has created a shooting star and then a nice engulfing candle. Also, there's a 618 retracement of the bigger daily leg that happens to be right at this level. With all those clues together i think there's no doubt. I'm going to short at the 1,09 level, with stops above the highs, and target1 at a 1,25:1 RR. Target2 to be determined more accurately. Good trading! Feel free to comment below for any kind of questions or if you want to share your view. Otherwise, see you in the next chart!
Short
by Roker1
Cypher Pattern on a trend continuation trade GBPUSDHey guys, this is a Cypher formation that's already completed on the hourly chart. It's in accordance with the higher timeframe trend and so i'm going to use it as an entry reason for a trend continuation trade. The black line represents the previous support that's recently been broken and that could become resistance now. Also, its completion lies right near the 618 retracement of the bigger impulse leg and the RSI has already gone in overbought terriotory. First target at the 618 retracement of AD, and second target as an extension. Stops above X. If you have any question, feel free to comment below. Otherwise, see you in the next chart.
Short
by Roker1