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618 Fibonacci Retracement

BTC to 28k according to these 4 signsThere are 4 patterns/indicators that suggest that BTC could drop further to between 28k -> 27k. 1. Head and shoulders. - It is common for the drop following a head and shoulders to be roughly the same as the rise from the neckline to the top of the head. This was 39%. If we take 49% down from the neckline, this results in a price of 28.5k 2. Previous support - On its way up to its high of $65k, the price of BTC dropped from 41k to 28.7k. It is possible that we could bounce back off this line as a line of support. 3. The 0.618 Fibonacci retracement. - Drawing the fibonacci retracement lines from the March 2020 bottom at 3,858 up to the high at 64.9k, we can identify the 0.618 'golden-ratio' fibonacci retracement to be at 27.2k. A wick down to the 0.618 is not uncommon 4. In addition - the EMA cross is approaching with the 50 and 200 converging in a few days time. This is typically a bearish indicator. Note: I do not believe the bull market is over. The market is still making higher lows, and a drop to the 0.618 is no exception to that. Even a drop to the 0.702 would not invalidate the bull market case.
COINBASE:BTCUSDShort
by Nadnerb217
EURCHF testing a weekly support 🦐EURCHF is trading between a daily support and a weekly resistance. The market after the last bearish impulse retraced at the 0.618 Fibonacci level and then tested the 0.5 before closing the last trading day above the support. 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
What Happens in the Next Few Weeks?First off, check out my new VWAP script I wrote that allows you to use multiple VWAPS on multiple time frames at one time (used here with the black lines). If we keep this momentum, we could see a slight dip to the 2.3 levels to re-test the VWAP as support. Using the Volume Profile, we can see that the Point of Control is around 3.2 which is the first major resistance we have to break through. 3.2 also happens to be the .618 Fib which plays nicely if you are a confluence trader. Most likely, we will reject 3.2 and bounce in between the .618 and .5 levels for a bit and create another short term accumulation. Then we break 2021 highs and go straight to the moon. Let me know your thoughts and any other types of analysis you guys are doing.
Long
by Danimal69
USDCNH | Perspective for the new week The price moved against expectation as it continues to find lower lows in the last one month (you might want to see the link below for reference purposes); As part of China’s move to create awareness of its digital Yuan, authorities in Shanghai is planning to distribute $3 million worth of the central bank-issued currency among residents of Shanghai in the form of a lottery. Coupled with the appearance of a Descending Channel, this development appears to give a level of cynosure for investors as I anticipate a risk of further decline for the USDCNH pair in the coming week(s). Tendency: Downtrend (Bearish) Structure: Supply & Demand | Channel | Breakdown | Harmonic pattern (AB = CD) Observation: i. Since late March 2021, the price has been caught up within a Descending channel as the Greenback experiences risk of further decline in the nearest future. ii. As represented on the chart, connecting the lower highs and lower lows of price action with parallel trendlines reveals a downward trend that appears to hold following the Breakdown and retest of Y6.41000. iii. Below the Key level @ Y6.39600 remains a yardstick for entry opportunity as I look forward to a transition into a Harmonic pattern (AB = CD) 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 the possibility of a 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 @ Y6.32000 area. Trading plan: SELL confirmation with a minimum potential profit of 550 pips. Risk/Reward : 1:4 Potential Duration: 4 to 8 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
2
NZDUSD | Perspective for the new week | Follow-upWith approximately 300pips move in our direction since my last publication on this pair (see link below for reference purposes); It appears we are at a juncture for a trading opportunity in the market as I suspect a risk of further decline for the Kiwi as Breakdown/Retest of Neckline which is also my Key level @ $0.71500 becomes imminent. The US Bureau of Labor Statistics reported on Friday that Nonfarm Payrolls rose by 559,000 in May and despite figures reported to be below expectations, the Greenback appears to be on the verge of soaring in the nearest future. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Harmonic pattern (AB = CD) Observation: i. The $0.7300 area appears to be a very strong supplication area since the beginning of the year 2021 as an attempt from buyers to break above this level in February was followed by an emphatic bearish run that lasted a whole month! ii. It is also obvious that the $0.73000 level became a stalling zone (approximately 61.8% retracement of AB leg) for the correction of the Impulse leg AB as it was met with multiple rejections hereby emphasizing the strength of sellers at this juncture. iii. In this regard, I shall look forward to a transition into an ABCD 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 the possibility of a 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 @ $0.67500. iv. The Breakdown of $0.71000 (Demand zone) in March 2021 reveals that sellers are beginning to creep in at this level for future investment in the Greenback. v. This critical observation led to the identification of a New Supply level of around $0.72000/0.71500 for a future selling opportunity. vi. Conscious trading shall anticipate a Breakdown/Retest of Key level @ $0.71500 in the coming week for confirmation. 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 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
GBPCHF a turn at the 0.618 🦐GBPCHF after the recent impulse created a slow retracement inside a descending channel. The price touches the 0.618 Fibonacci level test the resistance and got rejected. 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
2
XAUUSD | Perspective for the new week | Follow-upWith over 1,700pips in our direction since my last publication (see link below for reference purposes) - strong bullish momentum continue to persist as buyers don't seem ready to give up additional gains. The bulls may push the price further up should the bears find it difficult to break down the Demand zone/Trendline @ $1,888 in the coming week. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Trendline Observation: i. The break above Key level @ $1,900 during the course of last week trading session opened the possibility of a rally continuation. ii. The line drawn under pivot lows (Pivot I & II) is a visual representation of the prevailing direction of price action in the last couple of weeks. iii. On the 25th of May 2021, we experienced price breaking above $#1,888 (a level that rejected price for 7 days) to confirm an uptrend continuation. iv. The breakout of $1,888 was followed by a sharp rejection of this same level to form a new level for Demand (61.8 retracement). v. The area above Key level @ $1,900 shall be a yardstick for buying opportunity in the coming week(s). vi. CAUTION: Should price break down the Demand zone/Trendline @ $1,888 then we shall be looking at a possible nosedive in price action. Trading plan: BUY confirmation with a minimum potential profit of 2,000 pips. Risk/Reward : 1:4 Potential Duration: 1 to 4 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.
OANDA:XAUUSDLong
by darcsherry
Dow moving higher 🦐DOW after the test of the lower support started an impulse. The price retraced at the 0.618 Fibonacci level and currently testing a minor resistance. According to Plancton's strategy if the market 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.
FOREXCOM:US30Long
by InkyGrip
2
SILVER on a retracement move 🦐After the rejection of the monthly resistance Silver retraced at the 0.618 Fibonacci level. The market attempts to break above but got rejected also by the minor resistance and now is testing once again the support area. 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.
SAXO:XAGUSDShort
by InkyGrip
4
SP500 looking for a lower low? 🦐SP500 after the recent low retraced to the upside until the 0.618 Fibonacci level. According to Plancton's strategy if the conditions will be satisfied 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:SPX500USDShort
by InkyGrip
14
CHFHUF for a lower low 🦐After the test of the 0.618 Fibonacci level at the 330 area, CHFHUF has turned into a bearish scenario. The price is now testing a weekly trendline above a 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.
Short
by InkyGrip
Bitcoin - Areas of Support - Fib Confluence Bitcoin is looking quite nice at this point, although further downside is always a possibility, the market is showing signs that the selloff may be easing. Bitcoin is currently sitting at both the 61.8% and the 50% retracement off major pivot levels, as well as a bullish divergence on the 4 hour Daily: 61.8% Daily: 50% 4 Hour Bullish Divergence: These are all good signs, I would consider this a good long entry point, be aware that further downside is still possible, failure to get a reversal going at these levels could signal a move lower to potentially the $34,000 - $38,000 USD, at which point, all other things being equal would represent A GREAT ENTRY POINT. -TradingEdge P.S. Bitcoin appears to be following the move lower I forecast several weeks ago, I recommend you give it read.
BITSTAMP:BTCUSDLong
by Profit_Link
NZDCAD | Perspective for the new weekThe dailly chart (see below) suggest that the Bears continue to take control of the prevailing direction of price action despite the 100pips Bullish run during last week trading session; I noticed that price has been caught within a Descending Channel since the beginning of the month with structures that support the tendency of respecting this Channel and even breaking it further down in the nearest future. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Trendline | Channel | Harmonic (AB=CD) Observation: i. TRENDLINE: The line drawn over pivot highs (indicated on the chart as Pivot I, II & III) appears to be a visual representation detailing the prevailing direction of price action over a period of 2 weeks. ii. The handing over of the baton from Buyers to Sellers on the 12th of May 2021 is represented on the chart with a successful Breakdown of Demand zone which held price "supported" for 11days. iii. It is observed that last week session was characterized with emphatic Bearish and Bullish run (a correction of AB leg). iv. If we also look closely, a Breakdown of Descending Channel @ CA$0.87000 last week appears to be a clue that participants are anticipating the risk of further decline for the Kiwi. v. In this regard, I predict an ABCD pattern transition with expected parameters explained below; a. Leg A-to-B appears to be in harmony with the C-to-D leg. b. The B- to-C leg falls within 61.8/78.6% 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 move @ CA$0.86000 area. vi. For me, Below the Key level @ CA$0.87750 shall be a yardstick for sell confirmation in the coming week as price action is been monitored... Trade consciously! :) Trading plan: SELL confirmation with a minimum potential profit of 180 pips. Risk/Reward : 1:6 Potential Duration: 2 to 6 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
USDJPY testing the descending trendline 🦐USDJPY is testing the descending trendline. The market after the last impulse retraced until the 0.5 fib level with 2 spikes touching the 0.618. 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
6
GBPUSD looking for new highs 🦐GBPUSD on the daily chart after the perfect double bottom broke the descending channel with an impulse and retraced until the 0.618 Fibonacci level. 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. Leave a comment that is helpful or encouraging. Let's master the markets together
Long
by InkyGrip
11
BTC Crypto Hype III - The top is set - 618 play !!Hello trader, good mood and profitable deals! If you're new in the game,and you are interested in my plan, check out my previous analysis : BTC fractal analysis! bigger correction is comming ? Altcoin session is comming !! BTC Crypto Hype - MA fight !! BTC Crypto Hype II - Fractal play !! As I have mentioned before, I believe that the BTC rally has come to an end, at least for this summer . The rally ended at 65k at the 2,618 (from 20k - 3k, correction of the 2017 rally) and dumped to 47k, the 1,618 From here we saw a strong bounce, how else could it be, to 618 of the previous move. the mass was bullish again, the bulltrap was set. will continue to trade the 618 game until it fails. After the next correction I will go SHORT. Target in the chart I would like to mention that all I post are just options and my own opinion ! Always trade with SL, and do not risk more than 1% of your portfolio (max 3%) per trade. Discipline is the key to success ! Unfortunately, my english is not so good and I work with google translate, but if you have any questions I will be happy to answer them . If you like my posts smash the like button, comment or follow me. Dyor an trade save !
KRAKEN:BTCUSDShort
by TR7z
20
AUDUSD a turn at the 0.618 🦐AUDUSD our last analysis reached the support area at the 0.77 area. The price tested the 0.618 Fibonacci level exactly at a weekly resistance and then starts to move below at the lower trendline of the ascending channel. 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