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618 Fibonacci Retracement

USOIL for a retest of the support 🦐USOIL after our last week's amazing profit started a string retracement move. The market tested the upper trendline of a descending channel exactly at the 0.618 Fibonacci level According to Plancton's strategy, if the price will break below the support structure, we will 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.
TVC:USOILShort
by InkyGrip
9
GBPUSD | Perspective for the new week | Follow-up detailsWith over 300pips in our kitty as predicted in my last publication (see link below for reference purposes); the Price is back at around $1.38ish - a level I advised that we add sell position ( see previous publication). The successful Breakdown of Key levels on the 18th of July 2021 emphasizes a risk of further decline in price for the Pound in the coming week(s). After almost a week of selling frenzy, the Pound experienced a phase of recovery during last week trading session to test $1.37800 with a Double Top structure appearing right at our Key level hereby supporting my Bearish expectation on this pair. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Trendline | Reversal pattern (Double Top) Observation: i. $1.37550 (Demand zone) which held price "supported" for 15 days was finally broken to the downside on the 18th of July 2021 to impress the dominance of sellers in the market. ii. The Breakdown followed by a complete retest of this Key level will strengthen my bias for a sell in the coming week. iii. Double Top: The appearance of an extremely bearish technical reversal pattern at the Key level after the price reached a peak two consecutive times ($1.37800 & $1.37750 respectively)points at risk of further decline as a breakdown of Neckline @ $1.373000 confirms completion of a reversal set-up. iv. It is worthy to note that the Double Top structure shares a confluence with a 61.8% retracement of AB leg and Bearish Trendline with a high probability of transitioning into a Harmonic (AB = CD) pattern with parameters explained below; a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is currently at 61.8% Fibonacci retracement (with a possibility of retracing into 78.6%) 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 @ $1.34800 area. v. Below $1.37550 remains our yardstick to sell the GBP in the coming week(s). vi. Breakout/Retest of $1.37300 and $1.36900 shall be our two opportunities to add to the existing position... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:6 Potential Duration: 3 to 7 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 commodity trading, CFDs, stocks 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
USOIL on a retracement move 🦐USOIL after the recent high has started a retracement move. The market is now testing the 0.618 Fibonacci level over an important structure and according to Plancton's strategy if the price will break below the minor support area we will 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.
TVC:USOILShort
by InkyGrip
4
Bitcoin Reversal At $27,500For quite some time now "everyone" seems convinced of Bitcoin prices in the low to mid 20 000's. Some even anticipate lower dips than that. I certainly don't exclude that, buy given how undramatic this break below $30 000 has been thus far, there is good cause to expect a price reversal soon. Here's why. My previous theory of an ABC move is still very much in play - one in which we'd be in the midst of completing the A-wave. As Elliott waves normally tend to nicely coincide with fibonacci levels we can clearly identify that a potential A-wave bottom would align with the 618 fib on the weekly chart. What further adds to this theory is the aforementioned fact that Bitcoin behaves in a "civilized" manner under $30 000, counter to what most technicians had anticipated. Most traders predicted a free fall below $30 000 due to the utter lack of resistance between 20 000-30 000, with the vague exception of ~$24 000. If Bitcoin can remain tidy and steady below $30 000 and not panic, chances are increasingly strongly in favor of an A-wave completion at the 618 fibonacci - which would also align with the support of the descending channel. And, most importantly, when everyone expects Bitcoin to plunge, chances are it won't. THAT'S when we shall look for difficult-to-spot reversals such as this. Our previous B-wave targets here on Trading View stand at ~$46,500.
BITSTAMP:BTCUSDLong
by LongLifeTrading
GBPJPY on a lower high lower low 🦐 GBPJPY on the 4h chart is moving in a descending channel. The price after the recent low at 151 level retraced exactly at the 0.618 Fibonacci level and currently is testing the weekly support. According to Plancton's strategy if the market will break and close 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.
Short
by InkyGrip
6
NZDCHF testing the 0618 🦐NZDCHF after the last bearish impulse got rejected by the trendline and started a retracement to the 0.618 Fibonacci level. According to Plancton's strategy, If the price will provide us a sign of inversion, we will 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.
Short
by InkyGrip
2
GBPCHF a turn at the 0.618 🦐GBPCHF on the 4h chart has retraced at the 0.618 Fibonacci level near to a resistance zone. According to Plancton's strategy if the market will satisfy the conditions we will 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.
Short
by InkyGrip
16
NZDJPY a bearish move? 🦐NZDJPY after the last bearish impulse retraced with a spike at the 0.618 Fibonacci level. The price retest the resistance area at the 78.100 area and now is moving to the support direction. According to Plancton's strategy if the price will break below we will 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.
Short
by InkyGrip
8
SILVER a turn at the 0.618 🦐SILVER after the last bearish impulse retraced at the 0.618 first and then retested the 0.5. Now the market is approaching daily support and according to Plancton's strategy if the market will break below we will 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.
TVC:PLATINUMShort
by InkyGrip
8
GBPCHF a turn at the 0.618 🦐GBPCHF after the last impulse reached the resistance and got rejected. The market retraced at the 0.618 and now is looking for a reversal. 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
28
GBPNZD | Perspective for the new week | Follow-up detailsWe are yet to take advantage of the Bearish tendency since my last publication on this pair as we await price action to do a complete rejection of the Bullish trendline identified on the publication (see link below for reference purposes). Like the setup identified on our GBPAUD, we have a similar pattern here too as price action transitions into a Descending Channel Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Channel | Reversal pattern (retracement) Observation: i. A successful Breakdown of NZ$1.98500 on the 23rd of June 2021 after hitting a peak @ NZ$1.99600 is enough reason to expect a Bearish momentum. ii. The Impulsive Breakdown was followed by a rejection of the same level at exactly 61.8% retracement (NZ$1.98500 area)on the 30th of June 2021 to respect Descending channel. iii. The momentum initiated within the channel at the inception of the retracement move (25th June 2021) in the direction of the Bullish Trend declined as price successfully broke down both the Key level & Trendline on the 2nd July 2021 to give further significance to my Bearish bias. iv. I look forward to a possible climb to retest Key level (New Supply level indicated on the chart) in the coming week before the risk of further decline. v. A further plunge below NZ$1.96000 (Breakdown/Retest) welcomes an addition to the existing position... Trade consciously!😊. Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 2 to 7days 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 commodity trading, CFDs, stocks 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
EURJPY a turn at the 0.618 🦐EURJPY after the last bearish impulse close the week with a retracement at the 0.618 Fibonacci level. The market tested the 132.500 and now turn over a support. According to Plancton's strategy if the market will break below we will 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.
Short
by InkyGrip
4
EURJPY | Perspective for the new week | Follow-upJust like the situation on our GBPUSD, we experienced a 300pips move in our direction since my last publication on this pair (see link below for reference purposes) and with the present market structure, it appears we are at another juncture that "screams" for a selling opportunity. Even as a momentary price increase is envisaged on this pair considering the pressure from the bulls during last week trading session and this might lead to a break out into Y132.500/133.000 level before a decline happens. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Trendline Observation: i. Even as we are in a long term Bullish situation, "quick sells" from participants who took advantage of the Bullish run appears to be happening at the moment and I suspect that the price might decline to around the Y129.000 area before the rally begins... Why? ii. The significant Breakdown of Y132.350 (my new Key level/Trendline) on the 17th of June 2021 which appears to be followed by what looks like "rejections" of this same level between 23rd and 25th of June 2021 points at the possibility of diminishing Bullish momentum. iii. While looking forward to entry opportunity below Key level, I foresee a transition into a Harmonic pattern (AB = CD) in the coming week with parameters explained below; a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg currently falls at 61.8% with the potentials of extending to 78.6% 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 @ Y129.000 area. iv. A Further plunge below Y131.000 (breakdown/retest) might welcome an addition to the existing position. v. CAUTION: It is important that I state here that the overall perspective to this pair is Bullish (see weekly chart) and if the price remains above Key level, the whole narrative shall be rendered invalid and a Bullish perspective shall be immediately adopted at Break above/Retest of Trendline... Trade consciously! 😊 Trading plan: SELL confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:5 Potential Duration: 5 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 commodity trading, CFDs, stocks 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
Gold testing a crucial 0618 🦐Gold on the daily chart reached the weekly support as expected from our previous analysis. The price closes the week around the 0.618 Fibonacci retracement level near the ascending weekly trendline. We can expect at the beginning of next week some retracements to the upside around the 1810 area. The commodity will be on our radar to check a new opportunity at the inversion 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
16
CADCHF turned at the 0.618 🦐CADCHF on the 4h chart bounced over the weekly support at the 0.618 Fibonacci level. The price is testing the descent trendline over a minor support near to the 0.382. According to Plancton's strategy if the price will satisfy the conditions 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
2
USDJPY | Perspective for the new weekWith over 500pips run since my last publication on this pair ( see link below for reference purposes); the Bullish momentum appears to be very strong considering the significant Breakout of the Supply zone on the 29th of May 2021. The Greenback continued to push higher as the price hangs just above the Y109.000 level. In this regard, I shall be looking forward to a rally continuation as anticipation of a transition into a Harmonic (AB = CD) pattern remains high. Tendency: Uptrend (Bullish) Structure: Breakout| Supply & Demand | Harmonic pattern (AB = CD) Observation: i. Bullish momentum that began in January 2021 is still in course as we witness an accumulation phase in the last 2 months (observe weekly chart). ii. The Supply zone which held the price "Resisted" for 29days was finally broken on the 29th of May 2021 to give Buyers the momentum it requires to push for a rally. iii. Since the Breakout, the price has remained "Supported" at Y109.200/109.500 (duration of two weeks) hereby providing the Buyers with a safe haven for future buying opportunity from this zone. iv. With this set-up, I am looking forward to an ABCD pattern transition with parameters explained below; a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is at 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 @ 111.000 area. v. Buying opportunity remains above Key level @ Y109.500 as any situation below this level renders this narrative to be invalid... Trade consciously! :) Trading plan: BUY confirmation with a minimum potential profit of 130 pips. Risk/Reward : 1:7 Potential Duration: 2 to 5 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 commodity trading, CFDs, stocks 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.
Long
by darcsherry
2
GBPJPY test the 0.618 🦐GBPJPY after the last bullish impulse is slowly retracing inside a descending channel. The price has now reached the previous resistance now turned support exactly at 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