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618 Fibonacci Retracement

DiNapoli analysis on bullish EURUSD for coming week!Hey Traders, This is my take on EUR/USD and my first analysis here where I try to show some of the tools I use to trade and make Market Predictions with as much Accuracy as possible. Feel free to comment and follow me if you like what you see and want more of it :) Ok, here we go:.. 1. We have a rejection of the Big Confluence Area I marked on the Chart (these Areas usually dont get hit when they work because of High Frequency Trading that is going on today) 2. The move started right after a bullish Grabber was formed on the MACDP line of the 4h chart, this told me that a breakout of the channel would be a high chance!! 3. The minimum Target would be COP at 1.125, this would also be Daily Overbought level and it would form the right shoulder of a H+S Pattern that could lead to further action, but more to that later. How should we play it? I would not jump in right at market open but look for smaller retracements on lower TFs, in fact I would and will try to enter long at a level that will most likely get cleared out before we move, something like a low where stops should be or a retest of the Downchannel. Your stop in any case would need to go below the bullish Grabber on 4H Chart!! Enjoy and lets make some pips :) One warning, should this setup fail, dont expect the fib levels at 10.2 - 1.105 to hold for long, as accroding to my experience this is already bounce from that level. Today they get frontrunned a lot when they hold and when they get hit, it almost certainly means they will break and stops below get collected!! Ok, now a happy weekend to all
Long
by Fibtree
DiNapoli Trading on GBP/USD 400Pip move expectedAs you can see in the link below I have expected price to test and bounce from this area 6 days ago. I just saved it private for me because I only decided this weekend, that I would start sharing my whole arsenal of trading strategies and methods here on Tradingview. I fully expect a move to the OP (1.48) this time as the combination of the 0.618Fib level and the big Trendline is pretty strong and the most recent developments with Davids EU deal should help further. Also I think that these developments came too late on Friday and are not fully priced in yet and could cause some early volatility at market open on sunday. 1.48 is also a important retest of lows that go back to middle 2013 How to play it? Either enter right at market open but I'm pretty sure you would have to live through at least one retrace, even if not right away. Or let it run a bit without you and enter on possible retracement on lower timeframe. In any case before Friday your stop, if you wanted to bet on a further upmove in Cable, would have needed to be under 1.41 but now you can do the same bet with a stop under the recent structure( around 1.424). Cause it is total clear, and I mean TOTAL CLEAR! that if it takes out this structure now it will move and take out the low and continue into 1.30s. Enjoy and lets make some pips!
Long
by Fibtree
EURUSD TWO TRADE SET UP PLANTrade Set up 1: Buy EUR after it breaks 1.0992 level and Targeting 1.1256 SL will be the origin of the bullish candle that breaks the 1.0992. Trade Set up 2: Wait EUR comes into the AB=CD and the 0.618 Level which complete at the same Level: 1.1256 SL recommend to be above 1.1400 ( the 1.618 ext) This Trade reminds me of the last year's GBPUSD trade an AB=CD correction that ends at the HTF 0.618 Place. You can take either one or both. Trade what you see, cheers for 2016
Short
by tntsunrise
11
Short again on AUD/USDAnother short set up on AUDUSD since downward momentum on the previous set up (idea linked) failed is on offer. The present set up comes after a deeper pull back, organic in a sense, into the 50 ema which also lines up with a previous level of support (~0.7250), now acting as resistance, and the 0.618 FIbonacci level. Price closed as a high test bar. Oscillator convergence is visible. entry - below low of high test bar stop loss - above high of high test bar target - at or below previous low
Short
by amanpaulbhogal
A sell-off may continue on the S&P500, Nasdaq 100 and UK100On the S&P 500 and NASDAQ100 indices, closing as a high test bar in the resistance zone, and a bearish engulfing bar on the FTSE100 (UK100) stock index, a sell setup is in order suggesting potential bearish continuation on these three (CFD) indices, following the recent sell off on major indices. 1. S&P 500 The rejection/resistance zone on the S&P 500 comprises the following: - retest of the 50 ema; - retest of ~2011; and - 50% retracement, and close below. Oscillator convergence, as shown on the chart, is seen as an additional argument to enter a potential continuation of seller based momentum in this index. entry - below high test bar stop loss - above high bar target - previous low or lower 2. NAS100 Since the major global indices demonstrate price behaviour correlation, an almost exact set up as on the S&P 500 is also forming on the NAS100. entry - below high test bar stop loss - above high test bar target - previous low or lower 3. UK100 The FTSE100 is in a very clear down trending environment. Three key reasons of a potential continued price decline are: - close as a bearish engulfing bar; - a strong bout of resistance at ~6250; and - rejection of the 20 ema. entry - below low of bearish enguling bar stop loss - above high of bearish engulfing bar target - at previous low or lower
FX:SPX500Short
by amanpaulbhogal
3
Long Pound-KiwiWith the following noted a long scenario appears to be in play: - bullish reversal bar (near resemblance to bullish pin bar/low test bar) - resistance becomes support (at ~2.3260 which stands out as a weekly level dating back to November 2009 ) - retest of 20 ema and close above - trend line support (third touch) - Rejection of 0.618 Fibonacci level and 50% retracement line, and close above - Stochastic and RSI convergence entry - above high of today's bar stop loss - below low of today's bar target - previous swing high or higher
Long
by amanpaulbhogal
AUDNZD DAILY SHORTIM ALREADY SHORT IN THIS PAIR BUT IF PRICE RETRACES AND TAKES ME OUT OF THE TRADE THEN THE NEXT LEVEL I'D LOOK TO SELL IS AT MY CLUSTER ZONE/SELL ZONE. IVE GOT LOADS OF CONFLUENCES AT THIS LEVEL WHICH ARE THE 0.5 AND 61.8 FIB, SUPPORT TURNED RESISTANCE STRUCTURE LEVEL, MAJOR TRENDLINE, DYNAMIC RESISTANCE (50 MA) AND A NICE PSYCHOLOGICAL ROUND NUMBER (1.03000). Another confluence is this trade setup is in line with the fundamentals because the RBA (reserve bank of Australia) said there is a possibly there could be another rate cut in the period ahead.
Short
by remelthomas
1
EUR/GBP 4 hour chart 3 drives pattern A successive cycle imitating the 3 drives pattern is in formation on the EUR/GBP 4 hour timeframe. Stochastic divergence, usually leading to a deeper pull back in a trend, has given the following confluence for the resumption of an in trend phase to the downside with price pulling back into: resistance at 0.7290; 50 and 20 ema; 0.618 Fibonacci level (very close to 0.7290); and trend line (third touch). An entry can be taken below the previous 4 hour bar, or once the current bar has formed as a bearish reversal bar, ideally an undersized or inside bar, giving additional confirmation to a sell setup.
Short
by amanpaulbhogal
AUD/CHF shorting signsSimilar to AUD/CAD, AUD/CHF is setting up for a short opportunity with the following in view: - inside bar following high test bar in pull back to 50ema - price rejection at resistance at ~0.8210 - price retraced to 0.618 Fibonacci level which coordinates well within proximity of resistance at ~0.8210 - Stochastic and RSI in overbought territory - Stochastic and RSI hidden divergence (bearish trend continuation) entry - below inside bar stop loss - above mother bar (above previous high test bar) target - previous swing low at ~0.7830, or lower
Short
by amanpaulbhogal
Selling a weak EUR/USDIn its prominent down trend, price continues to have pronounced consecutive cycles below the 20 ema pushing EUR/USD lower. Today’s bearish reversal bar bumped just shy of a past level, now acting as resistance, at 1.2500, and closes below 20 ema and 0.618 Fibonacci level. If a short trade does not trigger a re-entry can taken at the test of 50 ema and/or 1.2500. Entry – below today’s reversal bar Stop – above today’s reversal bar Target – once triggered, will let the trade run for price to rendezvous at 1.2000 where it’s been before Reverse set up of the same nature on USD/CHF.
Short
by amanpaulbhogal
Hourly cycle predictability on EUR/USD In view of price action on the daily time frame, EUR/USD has demonstrated a lower high with a rally back into the daily time-frame's falling trend line with the possibility of heading into ~1.2885 where the recent daily high sits. A violation of this high, though unlikely, could see a change in trend in EUR/USD. Until then, as indicated by price action behaviour, advantage of a potential rise back to 1.2885 can be taken by looking for a long predictable intraday opportunity on the hourly time frame. Previous retests at the bottom of the rising trend channel on the hourly timeframe occur alongside previous levels and, repeatedly, the 0.618 Fibonacci level. Furthermore the 50 ema could catch up in the buyzone to a confluence of these factors foreshadowing a move to the upside. entry - above low test/bullish reversal bar at bottom of hourly trend channel stop loss - below trend channel, 50 ema or low test/bullish reversal bar at bottom of hourly trend channel target - top of hourly trend channel (be cautious of price action reaction to falling trend line of daily time frame (in yellow)), and resistance at 1.2765 on the hourly timeframe
Long
by amanpaulbhogal
1