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Fibonaccichannels

ETH/BTC Fib channel: lots of growth still possible Ethereum (ETH) has been running against Bitcoin (BTC) since the beginning of 2020 which is likely due to the much greater pull back from all time highs (ATH's) in 2017. However, developments in ETH may make it a more profitable investment in the 20's. There is room to the upside of the channel without a parabolic breakthrough as ETH has tested the top only to pull back over the last several days since publish. retracement is also possible, but ETH is also running against the US dollar and the aroon up and down is still looking strong. The average range of the two assets have been increasing which is essential during bull/bear runs.
Long
by BigSkyCrypto
Natural Gas Price breaking up back inside to the Fib Triangle( see link on chart ) Price on natural gas has to climb back up through the upper resistance of the Blue triangle so bulls get more chances to square up after the gap we had last Friday sending the price to test the two different resistances above it - green and if breaks through that red line to follow where 50 MA on daily is currently looking at - Failing to keep price above the down sloping resistance of the triangle will send us down to the parallel resistance bellow it . Weather forecast as we go towards the end of the week will determine how price will move around these resistance / support lines.
OANDA:NATGASUSD
by django2
MASSIVE Move Incoming For Crypto - PART IIIHello Traders. I have focused primarily on forex as of late as it has become ever more clear that Bitcoin intended to have a period of consolidation. Now, I will preface here by saying BITCOIN THE KING has been my first love in trading. I learned from crypto, and am as close to a perma-bull as one can be in this game, and still be successful. THAT BEING SAID, Obviously Bitcoin is cyclical in nature. How long will this continue? There's no telling. Our Fibonacci analysis predicted the MASSIVE breakout from 4k with exact precision. IF, and I mean IF, Bitcoin continues on the path it has been on for some time, what is projected here is very very possible. Actual targets for the next bull run...almost impossible to say. I think we can all agree that if you believe in this tech, $20,000 will be a laughable number in retrospect. I have included everything on the chart needed to express my thoughts. Now, it's really hard to say where exactly we are in the process, but two things are obvious here; 1. THIS IS NOT THE BULL RUN. WE ARE IN PRE-BULL TERRITORY. 2. This cycle has been completing ROUGHLY 30% faster than the previous one. This can be attributed to multiple things...more adoption, savvier traders, more users on the network, etc. If anything, it's only logical that we should be moving faster than before. There are a million and one "hot shot" analyses on Tradingview for Bitcoin. I've refrained from posting this a while to sit back and observe, and cool off a bit from the wondrous breakout we had from the low. I hope you have all done the same, and I hope everyone made some money. There are more opportunities coming, friends. Moving forward, it's possible we breakout directly from here, or we break down and make another nice low around 7-8k. I lean towards a breakout directly from 10k, but again, it's hard to tell exactly where we are in the cycle. Remember - MARKETS RHYME, THEY DON'T REPEAT In closing, ANYONE who says they know what will happen, is full of it. This chart is simply my expression of what I've been thinking for some time....as far back as early 2018. This is the home stretch, boys. Keep your heads cool, practice good RRR/trading habits, and you will be just fine. Good luck traders.
BITSTAMP:BTCUSDLong
by vox-populi
4
GOLD : TECHNICAL ANALYSIS BASED ON DAILY TIMEFRAME, 16-06-2019 Current view showed gold was tried to break resistance on prices 1358.08 but it pullback price and ran into resistance on prices 1340.80 . Candlestick closed with shooting star pattern which is long upper shadow that indicate price maybe start falling. Gold futures gave up much of their earlier gains on Friday, with strength in the U.S. dollar prompting prices for the precious metal to post only a modest gain for the session, down significantly from their highest intraday level in 14 months. Prices eased back from the session’s best levels with the dollar on track for a gain on the week, putting some pressure on dollar-denominated gold prices. The ICE U.S. Dollar Index DXY, +0.45% rose 0.6% Friday, set for a weekly rise of 1.1%. Gold for August delivery GCQ19, +0.06% climbed 80 cents, or nearly 0.1%, to settle at $1,344.50 an ounce. Most-active contract prices settled at their highest in a week, but were still 0.1% lower than last Friday’s settlement of $1,346.10, FactSet data show. Prices had climbed to as high as $1,362.20 during Friday’s session, which was the highest intraday since April 2018. My forecast on gold prices for next week (17 - 21 June 2019) is gold will short to next support area. NOTE : This is just trading idea with others. Not recommended to follow as a signal. Trade as your own risk.
TVC:GOLDShort
by jaythegoldhunter
Those Dang Kids & Their Electric Money... - GOLD! (XAU)Hello friends! Ok, so, Gold has been really, really frustrating the past week or two. It seems content to spiral around this area for a bit. I developed a personal vendetta against XAU over past days and decided it was time to crack the code on this guy. So, what we've got here is essentially a nice mix of fib tools I've put together to give us an idea of just what the heck is going on. Gold had a pretty decent wave up from last fall to March of 2019, now seems to be looking quite bearish or weak at least. I'm not going to pretend to know the first thing about the Gold industry because, I really don't. I trade only the charts. The charts have always been good to me, which is part of the reason Gold has frustrated me so much as of late. Finally though, I think we have things under control here. Gold is still technically trading in an uptrend from a Fib channel perspective. Now, I wanted to account for the zig zag pattern gold has been printing on it's way down from the high near $1340. You can see, that it has been identified here that we have a Fib speed fan causing this strange price action. Then, we've got the Fib circles. These really came in handy here, because this nice dynamic tool allowed me to really get some insight into this price action. You can see, that we are trading downwards in the channel highlighted green. Looking at previous Fib circles, it's obvious a breakout from that would be a great long opportunity. Overall, this chart speaks well for itself. The trade plan is all there, and I think we've got some good insight now into why Gold has been behaving this way. I won't drag the text portion of this analysis out, because I don't want to make things confusing. if you want to see the trends I used for my drawing tools you can just zoom out. Look for a break of the red 0.382 Fan line to go short. Look for a break out of the green 100% Fib circle to go long.
OANDA:XAUUSD
by vox-populi
1
Bitcoin Just Can't Stop Breaking Out - BITCOIN! (BTC)Hello Friends, Traders, Everyone... In our last analysis, I called for a first target @ $9100, and a second for a test of $10k. Soon after, we had a strong bounce from the fib channel support, a move which seems to have taken a slight pause here just shy of the first target - there are a lot of Fib extensions currently in play, it can be argued that target 1 has probably, at this point, been hit. We have just exactly touched the 127% level from the second highlighted impulse wave on my previous chart, and though I still think easily $9100 will be hit soon, taking profits here is of course, not the wrong answer. So, now to today. I wanted to see if I could help explain why we seem to have paused here, and it didn't take very long for Fib to help uncover the culprit. It seems that, Bitcoin currently rests JUST under the 0.5 FSRF resistance, having violated it already, this resistance is still somewhat intact. This fan, namely the 0.618 level, was also responsible for the retracement we had around the first test of $7k just weeks ago. Now, traditionally the 50% fib level is not too strong of a support/resistance line, and I expect for sure we will at least push through this resistance before we run into the 0.382, which happens to be just over $10K - or past our macro 162% ext target of a 10K test. Here, I will plan on a push through as btc seems as strong as it literally has ever been (including the 2017 bullrun) and that push towards 10K. Make no mistake, that's pretty likely. The resistance from the fib uptrend channels drawn from years of price action, is much higher, and as far as Fib Channels are concerned, we're in the middle of wide open ground right now, nothing in the way until upwards of $12K. So I would assume that, Bitcoin will look for another resistance near $10k. Because we are currently pausing at the .5 fan level, I'd guess will go for that next .382 level, which would give some resistance at around $10.2k - $10.4k area. Now, that's the most likely scenario in my eyes. Alternatively, if this resistance proves to be enough to trigger a retracement from $8800, do not be shocked by another test of $7900 - $8100. I deleted it for reasons of clutter, but that area is roughly the 62% - 79% retracement level for the current impulse wave. Now, we have to retrace at some point. This is normally where I would start advising extreme caution to avoid maybe, a larger retracement from a macro perspective, or even one from the entire last 2 months, if that could be considered one single impulse wave. Now because, on many lower time frames, we have had numerous retracements, some quite large (flash dump from the 17th anyone?) I would say, the risk of this happening is low. That of course, is no reason to just run around commando with no stop loss. So to summarize, I have taken some more profits here counting this as target 1. Hey, sometimes we overshoot :) No harm in securing profits. Now, onwards towards low $10k area, or a retrace that probably would bounce off $8k, and there we can reevaluate. Good luck, traders! Previous Analyses:
BITSTAMP:BTCUSDLong
by vox-populi
Lite the Way - LITECOIN! (LTC)Hello Traders! Litecoin continues to, of course, follow the bullish trail blazed by King Bitcoin. In our last analysis, we looked for two targets - $114 and $135. Our first target, has been hit :) Now, after the first smaller impulse wave on the 4h, we had a nice pretty 62% retracement. Most frequently, the 127% extension is the safest target for any retracement based trade. We have reached that. The reason that, I am posting a new chart here instead of updating the old one, is because I want to be able to retroactively view how we do react to the Fib Resistance Fan. So, now LTC is at the 0.618 resistance going by the fib tool. When BTC broke this level, there was a retest of it, as support, and we then got ANOTHER $1400 move up. At the time, that was about a 20% move. If LTC has a similar reaction to a breakout, we can expect this to push us straight towards our second target $135. Alternatively, if LTC DOES retrace here, I have placed a likely zone to look for more long opportunities. The yellow box there, is the 62% - 79% retrace zone for the CURRENT impulse wave. Just something to keep in mind, if we do start to retrace here. There are MANY targets much higher, of course, but with these analyses I am just focusing on the information swing traders are looking for. I will keep this analysis short, because truly, anything I have to say about what's going on lately, has been said in my Bitcoin analysis. Good luck traders! Previous Analyses:
COINBASE:LTCUSDLong
by vox-populi