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Fibonacci

Visa (V): Pullback Incoming After New All-Time HighsVisa ( NYSE:V ) has reached our anticipated wave 3 target, a significant milestone for this stock that has consistently delivered strong performance. Recently, regulators in the EU have begun probing Visa and MasterCard’s fees, assessing their impact on businesses. While this could pose some risks, Visa’s overall trajectory remains promising. The stock has been setting new all-time highs consistently, but with the potential completion of wave ((v)) and wave 3, we are now looking for a pullback. This correction could offer a great opportunity to open new long positions. Our target range for the pullback is between $280 and $260, though the exact level remains uncertain. Before this, there could still be further upside, with a potential minor retracement between $311 and $325 that would support a bearish short-term outlook. We are monitoring this closely and have alerts set to act when the time is right. Visa remains a long-term performer, but patience will be key to capitalizing on its next move.
NYSE:VLong
by freeguy_by_wmc
CADJPY at strong resistance in the Daily chartHistorical context: +60% up since 2020 The CAD/JPY pair has demonstrated a remarkable upward trajectory since March 2020, recording an impressive increase of over 60%. This surge can be partly attributed to Japan's prolonged monetary policy, which maintained negative interest rates while many other countries raised their rates to combat inflation following the pandemic. Recently, the Bank of Japan signalled a significant shift in its monetary policy, indicating its intention to begin raising interest rates. This development has provided a boost to the Japanese Yen. The current pullback represents the sharpest decline observed since the onset of the uptrend in 2020, potentially signalling a change in market direction. This analysis will delve into the recent price action, loss of key support levels, and critical areas to monitor. Technical Perspective: Key Indicators Break Below the 200-Period Moving Average The recent breach below the 200-period moving average signifies a weakening uptrend. This movement suggests a potential reversal in the prevailing direction, accompanied by increasing selling pressure. The 200-period moving average is often regarded as a critical threshold separating bull markets from bear markets, making a drop below this level particularly significant. Accelerating Downward Movement The decline observed between 10 July and 5 August marks the steepest drop in CAD/JPY since 2020. Most notably, this downturn has effectively engulfed all gains made by CAD/JPY over the previous 12 months. The acceleration of this downward movement underscores significant selling interest in the pair. Fibonacci Analysis and Price Structure Following the breakout of the SMA200 on the daily chart, the price has retraced to the 50% Fibonacci level of the recent downtrend. The 50% level is often viewed as a critical area of interest that can present opportunities aligned with the primary trend. The confluence of the 50% level with the 200-period moving average marks a pivotal point for sellers at this juncture. Possible Sell Scenario Given the breach of the 200-period moving average and the prevailing price structure indicating a potential reversal, a selling opportunity may arise if the pair continues to exhibit weakness. A sell signal could be triggered if the price breaks below the uptrend line on the daily chart (highlighted in black). Initial targets for this sell-off could include the 23.6% Fibonacci level at 105.7, with an extended target around the 103.00 region. A stop loss should be established if the price demonstrates a clear breakout above the range defined by the 50% Fibonacci level and the SMA200 on the daily chart, situated around 111.20. The CAD/JPY pair is beginning to exhibit signs of exhaustion following a prolonged uptrend. The breach below the 200-period moving average and the testing of Fibonacci levels suggest a potential period of correction or reversal ahead. Close monitoring of price action around the 108.229 and 110.258 levels will be crucial in validating any potential short entries. Disclaimer: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK.
Short
by Marketscom
ETH through prism of Fib and Elliot wave theoryHello everyone. Today I will talk about ETH, the one ALT to rule them all. It is best if we look at the big picture and forget about day-to-day movements, news and all the other noise. Let us just look at the chart through basic Fibonacci levels paired with Elliot Wave Theory. First lets go through Elliot waves. Wave 1 started in 2017, first bull run. Wave 2 was in 2018, bear market. Wave 3 2019-2022, bull run. Wave 4 was short bear market in first half of 2022. We are currently in Wave 5. I have added to this chart Trend-based Fib extensions to help predict the possible top. Wave 3 ended just below 3.618 Fib extension. I like to be more on the conservative side so I will be looking for this run to end at max 2.618 Fib extension, which currently projects a price of 13k USD per ETH, making it a potential 4x profit. Remember, this is not a financial advice. This is just my thinking, shared with you. If you like my work, give it a boost and check my other ideas. If you find value in them, subscribe. Good luck!
COINBASE:ETHUSDLong
by carefulCheese32259
GOLD → Fundamental Swing. What to expect from gold?FX:XAUUSD updates the low to 2643. The reason - change of fundamental background and outflow of funds to safer assets... But, Powell supported the metal by lowering the US interest rate.... Overall, the fundamental backdrop for gold has changed to negative. The impact is not short-term and can only increase further, but the metal will be supported by the Chinese market and the Middle East conflict. Yesterday gold strengthened to 2710, testing key resistance on the back of 0.25% interest rate cut. Powell gave a hint that the Feds are generally willing to continue the easing course. The environment is quite interesting... Technically, gold is in a local descending channel and below 0.5 Fibo. If the bears keep the 0.5 - 0.7 fibo zone under their control, gold may continue to weaken towards 2650 - 2600. Resistance levels: 2696, 2714, 2720 Support levels: 2685, 2652 Technically, after a busy week, the metal may go into a consolidation phase, for example in the area of 2714 - 2685, but it is still worth paying attention to resistance and support from which strong moves can be formed... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
6
Bitcoin BTC price decides where to go nextAlmost all indicators are at extremely critical and decisive points: 1️⃣ CRYPTOCAP:BTC - $68300 2️⃣ BTC.D - 59% and continues to update local highs 3️⃣ USDT.D - 5.25% on the verge of a breakout or rebound upwards 4️⃣ Fear and Greed Index - 73 (greed) 🐳 Blue scenario - a sharp exit from the correction channel and movement towards $77-78k. 💔 Red scenario - correction OKX:BTCUSDT to $64000, and maybe even to $ 61k Vote which scenario you think is more likely. We will supplement this idea with interesting charts and our own opinion after we have 100+ votes.
by P_S_trade
2
NQ Power Range Report with FIB Ext - 11/8/2024 SessionCME_MINI:NQZ2024 - PR High: 21230.75 - PR Low: 21202.50 - NZ Spread: 63.25 No key scheduled economic events Floating auction in new ATHs - AMP Futures margins restored to normal Session Open Stats (As of 1:55 AM 11/8) - Weekend Gap: -0.13 (filled) - Gap 10/30/23 +0.47% (open < 14272) - Session Open ATR: 313.43 - Volume: 22K - Open Int: 270K - Trend Grade: Bull - From BA ATH: -0.1% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 20954 - Mid: 19814 - Short: 17533 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions. BA: Back Adjusted BuZ/BeZ: Bull Zone / Bear Zone NZ: Neutral Zone
CME_MINI:NQZ2024Long
by mv3trader5
Welcome back donald trumpIn this chart, I have conducted a technical analysis of Gold Spot against the U.S. Dollar (XAU/USD) on the 4-hour timeframe. The analysis highlights key areas of interest: Supply Zone: Marked in purple, this region represents a potential area where selling pressure could resume. Historically, prices have shown resistance here, suggesting that traders should monitor this zone for possible reversals or selling activity. Retracement Levels: I've used Fibonacci retracement levels to assess potential pullbacks. The 0.5 (2,696.90) and 0.382 (2,684.38) levels are particularly notable as possible points where the price may find support or resistance. Target Area: Indicated by the arrow pointing downward, this is the level where I predict the price could head next if the supply zone holds and selling pressure intensifies. This represents a personal target based on my analysis and not a trade signal. "Hope for the Best" Label: Positioned just below the supply zone, this label reflects the sentiment of uncertainty as the price approaches this resistance area. It serves as a reminder that market movements can be unpredictable. Welcome Back Donald Trump: In a broader context, the market may also be impacted by political events. With Donald Trump winning the 2024 U.S. presidential election, there could be shifts in economic policy, which might influence precious metal markets and investor sentiment in the coming months. Keep an eye on these macroeconomic factors as they may play a role in future price actions. This analysis is shared solely as my interpretation of market data and is not financial advice or a trade recommendation.
ICMARKETS:XAUUSDShort
by rajpatel95133