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Fibo

JAPAN hit by covid cases and the economy contracted 1,2%Japan GDP growth drops 1,2% YoY, and it is followed by a increase in covid cases In the chart we can see: 76,4% FIbo could be the next support, because has already been tested the line after the breakout occured at 9AM GMT, and the top line of descending channel was tested twice after that, followed by bullish candles crossing EMA MACD and Signal is already above de 0%, and we can look at RSI, and it seems to be strong signal above 50
Long
by AFCapital21
Crude oil correction is over, time to go longHi traders, Today we want to talk about crude oil. We forecast that the correction of the oil initiated on March 2022 is over and we already have started wave III in the cycle degree (orange). These are the 2 main reasons 1- The expected minimum level for the WXY correction was reached (87.086). We can see clearly that the price has bounced from the Inflexion Zone, the green area. Therefore, we do not need to go further down to consider the WXY structure complete 2- The RSI trendline has been clearly broken. It is one sign that the new bullish cycle has started. We cannot discard the option that oil makes another low, but we are quite sure the inflection zone will be respected and therefore, crude oil correction is going to end above the 60 USD level. The last confirmation to ensure we are in the new bullish cycle is to break the highs made in march 2022, but it can take some time for that to happen and, meanwhile, we can take some long position trades trading the lower degree cycles (or Timeframes) structures. Ideally, you bought Crude oil in the inflection area, but in case you did not, once the price breaks the 94.039, which is the last high created in October, we will be looking for another long opportunity if a clear corrective structure is detected. We will keep you updated. Always keep in mind that risk management is, at least, as important as the entry-level or the SL. Remember the quote “If you do not manage the risk, you will not have any risk to manage” The market is always repeating the same type of defined structures. There are only two main wave types: the motive wave and when the motive wave ends it starts a corrective wave. Within them, there are only 3 motive waves structures (Impulse, leading diagonal, and ending diagonal ) and 5 main types of corrective structures (ABC, WXY, Flats, triangle, WXYXZ (triple correction)) Learning them and being able to spot them in the price action graphs will completely change the way you trade as these structures will provide entry point areas, invalidation levels, and targets for the trade. Have a safe and profitable trading day Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it is only the explanation of what we are going to do and it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:WTICOUSDLong
by TradingtheRightSide
SP500 Short OpportunityHi traders, SP 500 is in a corrective cycle that started at the beginning of 2022. We do expect further down to end the WXY corrective structure. This will create new lows and it will break down the 3480 level. Considering that, we can take advantage of it by trading the end of B in the intermediate degree (blue) and riding the whole wave C before ending the corrective cycle WXY of wave 2 and starting the new bullish cycle. Short potential idea: Entry: 4144 SL: 4442 Target: 3210 Risk: max 2% of your account Always keep in mind that risk management is, at least, as important as the entry-level or the SL. Remember the quote “If you do not manage the risk, you will not have any risk to manage” The market is always repeating the same type of defined structures. There are only two main wave types: the motive wave and when the motive wave ends it starts a corrective wave. Within them, there are only 3 motive waves structures (Impulse, leading diagonal , and ending diagonal ) and 5 main types of corrective structures (ABC, WXY, Flats, triangle, WXYXZ (triple correction)) Learning them and being able to spot them in the price action graphs will completely change the way you trade as these structures will provide entry point areas, invalidation levels, and targets for the trade. Have a safe and profitable trading day Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it is only the explanation of what we are going to do and it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:SPX500USDShort
by TradingtheRightSide
How to use Fibonacci Retracement ⁉️ ‼️ Forex traders use Fibonacci retracements to pinpoint where to place orders for market entry, taking profits and stop-loss orders. Fibonacci levels are commonly used in forex trading to identify and trade off support and resistance levels. After a significant price movement up or down, the new support and resistance levels are often at or near these trend lines . Usually the price retracts to 50% or untile OTE (0.62, 0.705, 0.79) before another impulse movement occurs.
OANDA:XAUUSDEducation
by Snick3rSD
XAUUSD Fibo retracament 38,2; 23,6; 0,523,6% we have the main resistance 38,2% we had the last support that already is the new resistance, and the 50% the support, with some shadows candles testing it. If 0,5 is crossed this have a big probability of being the next resistance. We believe two options of testing the support and resitance, however the 0,382 seems to be a strong resistance, tested several times, moretheless the 0,5 zone will be tested again Also if you look at 1H tf you'll see the EMA had also crossed the bb middle line, resulting in a short position for Gold
OANDA:XAUUSDShort
by AFCapital21
Simple forecasting with Fibonacci. What to do?I have plotted the monthly, and weekly and also zoomed in on the daily time frame to get a better view of it. The zone marked are zones that CLUSTERS the daily fibo together with weekly and monthly. There are 4 things to do before you place a trade on it. 1) Wait and let the market touch or come inside the marked zone 2) Wait 3) A bullish candle needs to close above the marked zone 4) Wait for a pullback which I prefer or you can instantly enter the market. If there is no bullish candle that closes above the zone and continues breaking the zone, expect it to go lower. Don't guess, follow what the market tells you to do. You can swing this trade all the way to 2026.
TVC:DJILong
by Muhammad_syafiee
10
Divergence Critical position on AUDCAD. the trend is actually bullish but instead we shorted. why? because, mitigation on the recent supply zone is stronger compared to the buyer side. alternatively, the formation is also divergent by RSI as well as AO. most of the time, you will see when a higher high is form there is a new trend to the upside but at some conjunction where this phrase is invalid, is where this kind of setup is brought up. However, we cannot solely depend on one perspective and for a better risk management i would like for it to drop and make a potential retest to the current price level. thanks.
Short
by Lavimystic
USD/CAD Long from Dynamic Support 61.8% Fibo 200 Sma BUYUSD/CAD inside a Bullish channel, in the last sessions the price had a Pullback on 61.8% Fibonacci level, placed in confluence with the dynamic trendline from the channel ( working like Dynamic Support ) and the 200 Moving average. The price after the rebound on these points jumped strongly upster following the Maintrend. The stochastic is in Bullish Divergence in Oversold scenario Plus the RSI already upster. All these clues following the General situation of the market and in particular of the Dollar give us the Bias for the price to continue to rising.
Long
by FOREXN1
6
EUR/NZD:SHORT from Fibo Levels , POC Volume and Double TOP -SELLThe EUR/NZD it's for a long time in Downtrend, In the last sessions had a Pullback into the Area of 50% 61.8% Fibonacci where placed the Volume Point of Control from the previous Swing high and, this reaction may be made also by the presence of Dynamic trendline and by the 200 SMA. The scenario is a Typical Swing trading setup with a divergence on the Stochastic indicator in Overbought meanwhile the RSI is still bearish. The DIvergence on RSI is made by a local Double TOP made by the price on the chart. Our bias is for a continuation of the Downtrend.
Short
by FOREXN1
9