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Fibonacci Confluence

XRPUSD Triangle & Fib confluenceXRPUSD has been consolidating in a triangle since the ATH. It is now nearing the point of the triangle and I expect it to break to the upside. I am basing this on the strength of the previous bounces when price has hit the bottom of the triangle and the fact that the prevailing trend is very bullish. The point of the triangle corresponds with a level of triple confluence on the fibs, so this will act either as strong support or resistance. A bounce or breakdown through that level is likely to be important. If it exits the top of the triangle there is another, larger triangle to consolidate within. I expect it will retrace then make an impulsive, bullish wave. I invite any comments, Jack
BITSTAMP:XRPUSDLong
by jackjamesholmes
14
EURGBP - H1 - Short OpportunityFollowing on from successful short and a big move down after breaking through the neckline of a H&S pattern up at the recent highs, I'm still favouring a little more movement to the downside on this pair when the recent fundamentals are also taken into account. After the most recent move down, we have been consolidating in this sideways market for a few days. We seem to have broken and closed below the lows of the consolidation 'range' this morning and I would take this as a sign to get Short this pair upon a retest of that resistance line. Pretty much at market at the time of typing this up, and will likely be entering at the close of this hourly candle (provided we don't close back up above the line - seems unlikely though). For targets, I'd initially be looking to hit that zone of Fib confluence down with a 127.2%, 161.8% and bigger 127.2% extension all lining up in a similar area - I'll be shooting for a touch of the 0.8700 flat handle before closing half of the position. My second target will be a little lower down around the 0.8575 - 0.8600 level which is around the 161.8% extension of the same move we are using above, and also an area of relatively high activity looking left back through the charts. Let's see whether or not this plays out over the coming days!
Short
by bmck1
GBP/USD - Cypher formation Pro-TrendHello everyone! There is a potential opportunity here on GBP/USD, when the cypher will be complete. On the Daily timeframe (sx) we can see the price go through some important support levels, and one of them, now turn to resistence, will be in the area of the cypher's D point. We also broke the last one on our left, and that is a possibile confirmation that the price want to go lower. On the 4 Hour timeframe (dx) we can add some extra filter to the Cypher. We have the 38.2% of the last impulse move on the Daily timeframe, plus 2 extra filter on the 4 hour: A Fibonacci extension of A-B and an inversion of B-C, all pointing in the same area. We can use the PRZ for a trend continuation trade, based on the daily analysis, or we can just trade the cypher in the "classic way" with a first target at a 38,2% and the second at 61,8%. What do you guy think?
Short
by Michele_Pierro
NZDUSD Continues South After Taking a BreatherNZDUSD is currently struggling around the Resistance level around 0.734 It is possible that the Kiwi Soars forming a Double top formation, but It has a small probability to occur under this current situation. NZDUSD is expected to continue going south, after finishing its current retracement, reaching a lower high of 0.734, which is no more than the 0.618 Fibonacci Retracement level of the previous move south. The current Bearish pin bar shows the weakness in the Bulls, and the Bears are in CONTROL for the next big move. the price is at a great place to start a Sell trade. More conservative traders can wait for more confluence. Traders are adviced to make an initial take profit TP1 = 0.7123 , closing 50% of their trade. Meanwhile, TP2 would be around 0.7047.
Short
by adamwillis
USD.CAD - Bullish Cypher Setup - 1.2617On the USD.CAD 4h chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup. The price reversal zone on this pair is between 1.2617 & 1.2467 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Fibonacci Confluence - 78.60% - 1.414% & 1.618% Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets at around 1.3097 Stop loss would be placed below X leg structure support. Website: www.UKForexSignals.com Instagram: www.Instagram.com Instagram: www.Instagram.com Twitter: www.Twitter.com
Long
by UnknownUnicorn180388
2
GBP.JPY - Bearish Cypher Pattern - 156.162On the GBP.JPY 1h chart we have a potential short opportunity at the D leg completion of a bearish Cypher Pattern The price reversal zone on this pair is between 156.162 & 156.658 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Fibonacci Confluence: 78.60% & 1.272% Potential targets for the Cypher Pattern placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets at around 154.057 Stop loss would be placed above X leg structure resistance Website: www.UKForexSignals.com Instagram: www.Instagram.com Instagram: www.Instagram.com Twitter: www.Twitter.com
Short
by UnknownUnicorn180388
NZD.USD - Bearish Cypher Pattern - 0.6841On the NZD.USD 15 min chart we have a potential short opportunity at the D leg completion of a bearish Cypher Pattern The price reversal zone on this pair is between 0.6841 & 0.6861 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Fibonacci Confluence: 78.60% - 127.20% & 161.80% Potential targets for the Cypher Pattern placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets at around 0.6765 Stop loss would be placed above X leg structure resistance Website: www.UKForexSignals.com Instagram: www.Instagram.com Instagram: www.Instagram.com Twitter: www. Twitter.com/Tom_H_Official
Short
by UnknownUnicorn180388
11