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Fibonaccichannels

YFI is so underrated 🔥 💥Hi everyone 👋🏽 🕊 Wish y'all have a profitable lifestyle 🍀 📌 YFI /USDT - Daily Chart - Heiken-ashi 📌 PRICE ACTION - Fibbo channel - Double bottom - Triple bottom 📍 YFI looks it might have a breakout from this zone. 📍 Yearn Finance is one of the most underrated projects available in the market and I think YFI is not respected enough ✍🏼 In the chart I see a triple bottom forming in daily time-frame which can be a very bullish signal. ✍🏼 The descending trend line is above the price and looking very powerful but once price manages to break it we may see a pump in the future ⚠️ I wait till the price touches the descending trend 🧐 What are your thoughts about YFI and Yearn Finance project? THIS IS NOT A FINANCIAL ADVICE Good Luck NP Trader
Long
by C_EWAVE13
3
Solana reaches major Fib Channel Target (compare BNBUSD)This is basically a quickpost. The blue anchors show where both BNB and Sol have the fib log channels swing lows and a swing high point to define the fib log channel. Sol just closed at the op of the fib log channel 2 line. That is a very significant long term target after popping up out of a rising wedge. By my estimation most of the profits have already been made by going long. BNBUSD shows how powerful resistance at these levels can be. There is a lot of clear bearish divergence on the MACD histogram and the volume and gravestone candle spell reversal. Yesterday's candle was already down over 17% from the high. To me that loudly states a lot of profit taking at the 2 line of the fib log channel And just for the sake of the interested, here is your standard fib retracement. The golden pocket is often referred to the area between the 0.618 and the 0.65 retracement levels but I find that when doing retracements and extensions the 1.618 to 1.65 range works very well for targeting. And here he see it hit perfectly. I don't know what your trading system tells you. But mine says the upside is mostly gone. Personally, I am not touching Sol in the near future. I have clearer entries on other tokens and coins that I think are closer to trending. In other words, I suspect this will chop around quite a bit. It is still pretty early but I would be watching for something like the chart below to play out. Fractal ABC corrections all over the place that could be played out technically for those interested. Of course, not financial advice and I am not a CMT.
BINANCE:SOLUSDShort
by This_Guhy
11
How to Draw Fibonacci Channels Fibonacci Channels are used to determine fibonacci support and resistance levels within an identified trend. These channels can easily be drawn in both uptrends or downtrends to find potential areas where price action could change. Uptrend When drawing a Fibonacci Channel on an uptrend, a clearly identified trend needs to be established with higher lows being created. To draw the channel, first select the two low points on the trend, and then the high point in-between them. After the channel is drawn, the Fibonacci levels calculated can be used to help speculate price action by watching these areas as support or resistance. Downtrend When drawing a Fibonacci Channel on a downtrend, a clearly identified trend needs to be established with lower highs being created. To draw the channel, first select the two high points determined by the trend, and then the low point in-between them as shown below. Do you use Fib Channels? If so, share your ideas in the comments below!
Education
by TradingView
133
DOGE/USDT Algo roadmap !!BINANCE:DOGEUSDT Hello Trader, good mood and profitable trades If you're new in the game, check out my previous analysis Altcoin session is comming, SC /USDT roadmap, BTC fractal , HOT/USDT and LTC/USD This chart is a combination of 2 Fib channel, and Fib retracement. Confluence areas of the fibs are key price zones to watch... and act as targets !! I will post updates as price action progresses Remember that things can change too . If you like this idea , support me with likes and comments !! Dyor and trade save !
by TR7z
18
SC/USDT Algo roadmap !!Hello Trader, good mood and profitable trades ! If you're new in the game, check out my previous analysis Altcoin session is comming, BTC fractal , HOT/USDT and LTC/USD !! This chart is a combination of 2 Fib channel,Fib retracement and Fib time. Confluence areas of the fibs are key price zones to watch... and act as targets !! I will post updates as price action progresses TRIGGER: breakout whit confirmation on LTF or bullback Remember that things can change too . If you like this idea , support me with likes and comments !! Dyor and trade save !
Long
by TR7z
4
Quickpost Beware FOMO into BNBAs I see it BNB is about the end of its run in terms of time. I am a fan of using fib channels to chart out large movements and to try and see when the majority of a move is done and in general around the 2 level of the Fib I would expect to see some topping behavior. On a weekly chart we could definitely see some wicking through the 2 level that could get many people looking for more continuation. I personally am going to close my BNB position and putting it into something that is undervalued. Given how quickly the price action came up I would expect a relatively quick top. After we top a return to the 1 line over the next year or so would be a very natural. One thing I am going to be looking for is the pregnant VSTOP on the daily close on the daily time frame. When you start to see pregnant VSTOPS it is a sign that price action is moving very quickly and it is a sign that the trend will be reversing soon or will need a month or so of consolidation. I'll be out around $700ish
BINANCE:BNBUSD
by This_Guhy
6
Quickpost: DashBtc looks great on the monthly chartDash continues to show strength against the dollar and against bitcoin and so it becomes just a matter of time before lift off. The bollinger bands show where we may get some stalling as Dash moves up. Resistance at the baseline is to be expected, and likewise it will take a long term continuation pattern to get us through the bollinger band and to the blow off top that will signal the end of Dash's season. The RSI has shown a technical double bottom. In our current instance with a lower low on the price action could be considered some subtle bullish divergence. If we do assume a double bottom then we are looking for the RSI to move upward, and that means Dash has to go upward. The price action has given us a lower low since December 2019 but both the Stochastic and the Stocastic RSI are showing higher lows. This suggest Dash will get some movement to the upside against bitcoin in the next couple of months. Things should really get moving when the K and the D get above 20 on the stochastic. On the weekly chart we can see downward sloping resistance has turned to support and this is where we see dash consolidation. Very pleasing to the patient. If I had to pick where we would expect DashBtc to have a major stall against BTC it would be at the 2 level of this fib channel. Maybe the 1.786. Sets up a massive inverse head and shoulders on DashBtc like the one we have been dealing with on ETHBTC.
Long
by This_Guhy
2
how to apply fib channels and auto fib channels studyThe Fibonacci Channel is a technical analysis tool that is used to estimate support and resistance levels based on the Fibonacci numbers. It is a variation of the Fibonacci retracement tool, except with the channel the lines run diagonally rather than horizontally. The tool is used to aid in identifying where support and resistance may develop in the future. If the uptrend is expected to continue, the 100%, 161.8%, and other higher levels are potential price targets. The same concept applies to downtrends if a downtrend is expected to continue In an uptrend, the zero-line is like a normal trendline, helping to assess the overall trend direction. If the price falls below it, it may need to be adjusted based on more recent price action, or it could signal that the uptrend is over and that the price is breaking lower. Similarly in a downtrend, the zero-line also acts like a trendline. When the price is below it, it helps confirm the downtrend. If the price moves above it, the indicator may need to be redrawn or the price is moving higher out of its downtrend Difference Between Fibonacci Channels and Andrew's Pitchfork Both these indicators attempt to predict future support and resistance levels based on price levels from the past. Fibonacci channels attempt to do this with percentages of a selected price move. Those percentages are then projected out into the future. Andrew's Pitchfork is simpler in some ways as the angled lines are based on three price levels selected the trader and then extended out into the future. Step By Step Applying Fibonacci Channels Auto Fib Channels ʙʏ DGT ☼☾ LINK to Auto Fib Channels ʙʏ DGT ☼☾
Education
by dgtrd
178
BTC at resistance but in uptrendThe title says almost everything. The uptrend has been established again, currently price has hit the 59381USDT resistance and bounced back but didn't drop below the support at 58023 so we can say it's into a small channel. If it goes up in 12h chances are that price enter again the big fibonacci channel you see on the background, if it take more we'll need much more volume to do so. If BTC enters and stays there by the end of April it goes at at least 80K. However, it has still to deal with the 61K resistance. I'm not showing the Ichimoku cloud to not mess up too much the chart however it's positive at 1h and 4h and at 15min the chart is in the cloud but over the support. I only up BTC moves slow and quiet so that market is ok.
by Shotokhan
Gold: Massive Bull Flag on DailyGold has been stuck in this falling channel (Fibonacci channel on my chart) since topping out on August 6. Pay attention to 0.618 Fibonacci level which is coloured in red - I'm talking about the channel, not horizontal Fib retracement! This red shaded Fib channel acted many many times as resistance, then we saw a fakeout, then resistance again and now it looks like this exact Fib channel is acting as support. I'm very confident that Gold is forming a big bull flag and it will break upward very soon. My target is 2143 Press Like and Follow to get updates on this idea if things change.
OANDA:XAUUSDLong
by LaminarM
2
Silver and AGQ Looks like a buyGreetings! Precious metals and therefor AGQ look attractive on several time frames for both traders and investors Here is a quick run down of why I am in AGQ as of today (p.s. this isn't financial advise, it is why I do what I do): Price action just retested previous horizontal resistance as support at 39.5 popped below the daily bollinger band and is recovering. retested the 300 daily EMA as support and the 9 seasons rainbow is suggesting we are crazy oversold This reinforces my notion in the chart below that the flag pole created a falling wedge and we can reasonable suspect to see price action continue its way up the flagpole with this consolidation either bisecting or trisecting the total move. It is nice to see the flagpole hypothesis backed up with lots of bullish divergences as the chart shows below, with a rough target for silver futures. A broader look at silver futures shows that price action has just completed a consolidation between the 0.5 and 0.382 fib channels levels and if the flagpole performs it gets us into a nowhere land and between the 0.618 and 0.786 retrace level. That is a pretty wide level but, as an optimist, I hope for overperformance. The volume situation is looking absolutely lovely for blast off. The Volume Profile Visible Range is definitely something that you can use to see whatever you want so I use it with the Average true range (set to log scale here) to help me find an absolute low in volatility to help set the chart. After setting the chart properly I can then look at what price action would be doing. The Value area is set to contain 68% of price action and the fact that price action has found support on top of the value area, by interpretation, suggests we confirmed the first up-leg in this bull market. These are going to be heady times for precious metal bugs as there is a good chance that this move will set up a multi-year consolidation pattern as we see happened between 2004 and 2006 and them massive continuation and with all the quantitative easing going on I would expect a quicker consolidation this time around. Out of everything in this post what is below is the furthest reach but it is still exciting to see a potential inverted complex head and shoulders on silver futures divided by nasdaq futures. Hell, even if I am wrong and price action just returns to the neckline this is a great chance to buy silver against equities. The linked idea from yesterday has much of the same analysis as here but on gold. The other linked idea shows where I used a lot of the same patterns I did in this idea to nail the bottom on SPXUSD during the great dip of 2020. I have gotten pretty good at identifying these lows and getting good entries, the problem for me now is holding them closer to investments as opposed to trades. If you follow me you will see I now use the volatility stop and fib channels to help me make sure levels are met, but that isn't applicable to this post yet.
AMEX:AGQLong
by This_Guhy
2
ETH Retest of ResistanceThe last month ETH and other alt coins have been lacking BTC, It seems that ETH is now trying to catch up. On November 6th ETH broke through the trend line that has acted as both support and resistance since the beginning of August (white 1.0 line in the fib. channel). There has been some accumulation above the trend line for the last 10 days which shows strength of the breakout. Yesterday ETH has retested the trend line and has since shown a decent bounce. If ETH find support here, it could continue to the upside, possible taking out the local highs. Profit Taking Levels: 488,95 -> Local Highs (Sep 1) Around 585 -> Fib 2.618 Stoploss: 425 -> Break of Trend Line
COINBASE:ETHUSDLong
by bjimmyd
Gold - Hold it or fold it?To answer the title - both. It's always good to hold gold as a core, however, it may be time to start thinking of hedging or perhaps trimming up some tactical positions. Gold is getting a little extended here on a monthly time frame. For a pullback, if there is one, I'd look to the original breakout point which sits at 1831.7. Of course there is the argument for the current global political climate especially with everything going on, but if there is one lesson I have learned: just trade whats in front of you. Seasonality of course remains generally positive into the end of the month and a little into September, so just keep that in mind too. I linked the seasonality part in the related ideas below.
COMEX:GC1!Short
by GlobalMarketSignals
5
BTC FibonacciChannel+Elliott Waves-Wave3 $8200 to $18000 May26thTrying out Fibonacci Channels, Elliott Wave counts, with Fibonacci Extensions and Retracements correlations for price and date targets Estimates: Wave 2 finishing around $8200 (50% of wave 1) Right around the halving Wave 3 finishing around $18000 (161.8% of Wave 1) Date target May 20th Wave 4 and 5 are questionable and dependent on Wave 4's behavior Estimating wave 4 corrects 38.2% of wave 3 around beginning of July (Error in image, fib retracement tool reversed) and finishing Wave 5 around $22000 around August 20th
COINBASE:BTCUSDLong
by KondrackiKarl