Trading Consolidation Profitably In Forex Markets With FibonacciTrading Consolidation Profitably In Forex Markets With Fibonacci and Harmonic Patterns (A Fibonacci Confluence Tutorial)
Hi Traders, In this videos we look at how to trade consolidation periods profitable using fibonacci and harmonic patterns. Apart from using support and resistance, trend lines and channels, we can use the power of fibonacci ratios. Best thing about fibonacci ratios is that we can pre-define targets or make a fairly accurate prediction about market's move. We can can quantify trades in advance. Fibonacci is one the main tools that I use in my confluence trading. Fibonacci is the first tool that pick to start my analysis.
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Fibonacci Cluster
USDCHF Testing a trend line, forming a bat pattern, bullish?Traders, please at first, support this idea with your Like and any Comment, thanks.
Analysis:
USDCHF has been falling hard and is still downtrending. However a long term weekly trend line had just been crossed. Last week the market closed below it and it is possible that it may try to rest it.
However we also a bat pattern completing in the blue zone.
So possibility is:
1. Another bearish day on Monday to go to that blue zone
2. Come back up to restest the trend line and get Bat Pattern target at 38.2 Fib Retracement.
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Trade Confluence Zone On EURAUDTraders,
There is a confluence region in the blue zone. The weekly trend line is broken. So now price can either go up to retest the trend line and then fall into the blue zone or go to the blue zone directly. Either way we can take a long position with 38.2 FIB as profit target. Overall this pair is destined to go down in medium to long term.
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if you like the idea please put like button, this will be the best thanks.
If you have any questions or trading ideas you can post them in comments!
Thank you for your support, I appreciate it.
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UADCAD This Bat Pattern Can Give Us 80 Pips Going LongUADCAD This Bat Pattern Can Give Us 80 Pips Going Long
1. Caution: On weekly timeframe the bollinger bands are getting squeezed. So a breakout can be expected. We have to be careful of that.
2. There is a bat pattern completion in the blue zone which also confluences with 200SMA on weekly chart.
3. So if the price falls into the blue zone, we can have a long opportunity for short duration targeting only adjusted 38.2 fib level as profit level. That is close to 80 pips but can be more or less after adjustment.
EURUSD Another Opportunity To Add To Long PositionsEURUSD Another Opportunity To Add To Long Positions:
If Price reaches this confluence zone, we have good opportunity to go long.
However it must first invalidate ALT Bat pattern 38.2 Fib level @ 1.11190
Confluence of:
1. ALT Bat Pattern 61.8 retrecament target @1.10643
2. 4h Cypher Pattern 78.6/127.2 @ 1.10740
As the EURUSD is shifting its trend, we are looking for full targets and roll up.
Fib 50 retracement and bearish movePrice is forming a small downwards trend to a pre-existing major ascending trend line.
The minor small pink trend line has a bearish bar forming outside.
RSI is close to the over bought.
I would like to sell the position down to the trend line. The projection of the trend line coincides with numerous levels of Fibonacci confluence.
GBPUSD Consolidation Gave Some Of The Best Trading OpportunitiesGBPUSD Consolidation Gave Some Of The Best Trading Opportunities
1. Most of impulse legs had 50 or 61.8 retracements
2. These led to 1.618 Fibonacci Extensions and confluences with 0.886 generating harmonic patterns
3. Usual targets for all these patterns have been at least 38.2 Fib levels.
EURUSD Trend Shift On Higher Time Frame, Huge Rally Expected?EURUSD Trend Shift On Higher Time Frame, Huge Rally Expected?
1. EURUSD has been forming Lower Lows from point X to all the way to point A. However at point A it created a divergence double bottom ending down trend.
2. Point B was created at 50% of XA.
3. Last week's rejection at 61.8AB (1.09885) is a possible confirmation of Higher Low at point C If that level holds next week, we have a confirmation of trend change
4. The next target for the price will be point C.
5. If C is broken we are looking at point D where Bat Pattern completes.
EURAUD Bullish Fibonacci ConfluenceEURAUD Bullish Fibonacci Confluence
Technically it is not a BAT pattern however it has a confluence of 1.618 and 0.886 Fibs creating a good confluence.
H4 chart has 20SMA at the same area making confluence stronger
We have a cross trend line adding to the confluence
DOLAR/PESO ARGENTINO USD ARS OBJETIVO ALCISTACompresion de volatilidad demasiado elevadad desde hace varios dias ya.
Formacion de banderin (chartismo). Zona del 38.2 (fibonacci) consolidado como piso teorico.
Si quiebra la figura podria darse un posible trade alcista. ZONA TEORICA TARGET PRIMARIO: 71.45 - 77
Zona de clusters en 67.20 y 71.45
TP 1: 67.20
TP2: 71.45
TP3: 77
Bitcoin - There's Levels to This! Fibonacci & Cluster AnalysisThis is a 1-hour chart of BTCUSD on Bitstamp.
From the high this past July to the current price, it is clear that price is pivoting back and forth between key levels.
Those key levels are:
- 0.382
- 0.5 (not a Fib level but still a useful level of support/resistance)
- 0.618
- 0.786
- 0.886
From the Fib off of the high around $13.9K to the low around $9K, we see clustering around the following levels:
- 0.382
- 0.618
From the Fib off of the low around $9K to the high around $12K, we see clustering around the following levels:
- 0.786
- 0.886
From the Fib off of the high around $12K to the low around $9.3K, we see clustering around the following levels:
- 0.5
- 0.382
I think it's paramount to study and trade off of levels.
Use levels along with price action, market structure, volume, and location.
Otherwise, if you just rely on indicators, you are simply guessing where price could go. Indicators tell you about the PAST.
It's time to get smarter with our trades.