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Fibonacci Extension

Will BTC continue its dump or it'll surprise everyoneHi dear community members, my lovely and loyal followers, I hope you are fine and make good trades. I haven't published analyses for 2 months coz I expected #BTC to dump towards 26.5-27K as I mentioned in my tweets/ which you can check on my previous publications. BTW I warned about this dump back on June 24th when BTC price was 31500/ almost at the top/ but I didn't expect that BTC will go below 26K in any case we haven't seen daily candle close below it)). Now I'm looking at daily timeframe and as you see BTC cleared/swept all SSL and felt all imbalances below 28.5K, even it took out previous major swing low/EQL/ below 24.7K and hit daily bullish OB. If we measure the recent move from 31,850 to 24.7K it is below 100% projection of previous move from 31059 to 24.7K. I'm sure BTC bottomed on August 18th at 24.5K and after some types of consolidation between 25-28K, which will last about 2-4 weeks, BTC will start its major impulse move towards 37-38K even higher. I marked upcoming move with pink line. I also mentioned the most critical level on the chart /RED zone/, which has to be respected by bulls in the worst case to provide upcoming bullish movement otherwise game is over for bulls.
Long
by ergal91
As Deflation Hits the Economy The Price of TIPs Should FallEarlier in 2022 I got some Bullish Exposure to Deflation by positioning Bearishly against TIPs (Treasury Inflation-Protected Securities) as can be seen here: Fast-forward to today and we can now see the CPI declining and the TIPs declining even faster, This ETF Tracks the price of these TIPs and we can see that it is breaking through support even though the CPI has only retraced half way. If the CPI continues on this path and the Bond Market continues to price in Long Term Deflation, we should then see the pricing of this TIPs based ETF come down crashing in a big way. If that does happen, I would target at least the 1.618 Fibonacci Extension.
AMEX:SCHPShort
by RizeSenpai
1
INVERTED Bitcoin Analysis: A Tactical Blueprint to $250K In this analysis, we examine three INVERTED schematics of Bitcoin’s price dynamics— one monthly and two weekly charts. The first schematic, an inverted monthly timeframe, illustrates a remarkable adherence to the support and resistance levels through opens/closes/wicks, showcasing pivotal turning points on a Monthly Timescale. These two weekly charts on the right reveal well-ratioed price movements, suggesting a degree of proportionality and predictability in Bitcoin's price behavior. This symmetry highlights the robustness of my technical analysis and the self-fulfilling nature of these levels. Please refer to my other 250k Bitcoin Target Ideas linked below.
CRYPTO:BTCUSDLong
by MichaelBsul
2
DXY LONG/ BUY🔰 Pair Name : DXY 🔰 Time Frame : 4H 🔰 Scale Type : SMALL/ MID Scale 🔰 Direction : LONG/ BUY 📈 Hey there, fellow traders! Let's delve into some pure technical analysis regarding the DXY: 📊 DXY has executed an intriguing move by breaking through the 4-hour supply zone, which has now transformed into a 4-hour demand zone. This shift indicates some interesting possibilities. From a Fibonacci perspective, the price has convincingly breached the 100% Fib level. 📉 Looking ahead, this development suggests that DXY might be setting its sights on the 127% Fib level in its journey. And that's not where the story ends – a subsequent move towards the 161.8% Fib level seems to be in the cards. 🔄 But wait, there's more! A potential retest of the 100% Fib level might be on the horizon after the solid breach of the 127% level. This intricate dance of levels could play a significant role in shaping DXY's path. 📊 As always, remember that the market is a complex beast, so stay vigilant and let's see how these technical indicators align with actual price action. Keep your strategies sharp and your trades calculated! Happy analyzing! 🚀💹 #DXYAnalysis #TechnicalInsights
TVC:DXYLong
by Moon_SmartMoney
BNB/USDT 1D Chart ReviewHello everyone, I invite you to review the BNB chart taking into account the one-day interval. We can start by marking the local triangle with blue lines, as you can see we are approaching the exit of a specific product. Let's start by marking the support spots for the price and we see that the price stays just below the support at $240.72, then we have a strong support zone from $235 to $228, however if the price goes lower, we have the next support at $220. Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that first the price has to break the zone from $244 to $248, then there is the second zone from $251 to $255, and then the strong resistance at $261. The CHOP index indicates that there is a lot of energy to move, while the RSI moves around the middle of the range, which in combination with the STOCH indicator, we can see the price rebound.
by cryptodailyuk
🥇GOLD - price corrections before a trend-following decline Gold finally breaks the lower boundary of the bearish channel. The market is forming a 0.6% impulse drop and the price is testing 1914.4. Technical pullback may fix the price in the zone for selling after which the fall will continue TA on the high timeframe: 1) Breakout of the range support forms a strong impulse. The way is open for a decline to 1892 2) Price forms a retest of the liquidity area. High chance of a rebound TA on the low timeframe: 1) Channel support is finally broken. Price formed an impulse to 1913 after which we see a correction to retest the previously broken support 2) Most likely the price may test the old flat - 1923.8, form a false breakout and continue its fall in the direction of the trend. 3) It is worth paying attention to the level of 1923.9, 1930.9 to look for sell signals. Key resistance📈: 1923.9 Key support📉: 1913, 1900
OANDA:XAUUSDShort
by AndeWave
10
Magic of Fibonacci Levels ✨In the realm of technical analysis, few tools capture the imagination of traders as effectively as Fibonacci retracements and extensions. Derived from the famous Fibonacci sequence, these levels offer insights into potential price reversals, extensions, and trend continuation points. In this article, we'll delve into the world of Fibonacci levels and explore how to use them to enhance your trading decisions. Understanding Fibonacci Retracements: Fibonacci retracement levels are like hidden treasures ✨ along a price trend. These levels, calculated from a swing high to a swing low, create horizontal lines that indicate potential support and resistance levels. The most common retracement levels are 23.6%, 38.2%, 50%, 61.8%, and 78.6%. How to Use Fibonacci Retracements: Identify a Trend: 📈📉 Begin by spotting a clear trend, either upward or downward. Select Swing Points: 🏞️ Locate the pivotal swing high and swing low within the trend. Plot Fibonacci Levels: 📏 Put those retracement levels on your chart, and watch as they highlight potential support or resistance areas. The Application: Support Levels: 💪🛡️ During an uptrend, traders often see retracement levels as potential buying zones. Resistance Levels: ☔ In a downtrend, these levels can be seen as possible areas to consider short trades. Understanding Fibonacci Extensions: Fibonacci extensions act like a crystal ball 🔮 projecting potential price targets or levels where the trend might extend. Extension levels include 161.8%, 261.8%, and 423.6%. How to Use Fibonacci Extensions: Identify a Trend: 📈📉 As with retracements, spot a well-defined trend. Select Swing Points: 🏞️ Determine the significant swing low and swing high within the trend. Plot Fibonacci Extension Levels: 📏 Add those extension levels to your chart, projecting potential price targets. Few examples : The Application: Projection of Trend Continuation: 🚀 Fibonacci extensions hint at where a trend might continue in its existing direction. Price Targets: 🎯 Traders often utilize extension levels to pinpoint potential price areas before a reversal might occur. Conclusion: Fibonacci retracements and extensions are like wizardry in the trader's toolkit. By grasping these levels and their applications, traders can create more informed strategies for entry, exit, and target levels. Remember, while Fibonacci levels are magical, they work best when combined with other technical indicators and chart patterns. As with any trading strategy, practice, experience, and risk management remain essential. With careful consideration and diligent analysis, Fibonacci levels can sprinkle a touch of enchantment to your trading endeavors. 📊✨
Education
by Yaroslav_Krasko
💱 EURCHF - A reversal pattern. What to expect from it? EURCHF is forming a reversal set-up. Against the backdrop of the global downtrend, this doesn't tell us much, but if the price overcomes the resistance, a quick trend reversal could be in order TA on a high timeframe: 1) Strong bearish trend 2) Price continues to fall and test the bottom 3) Liquidity area that may be of interest to the market is above 0.96500 TA on the low timeframe: 1) A reversal setup is being formed relative to the 0.95987 level. 2) Consolidation between H&S base and 0.95897 support is possible, after which growth may follow 3) Bullish momentum may reach 0.96770 as this area is a global liquidity area. Key support📉: 0.95987 Key resistance📈: 0.96500
Long
by AndeWave
6
BNB/USDT 4HInterval Review CHARTHello everyone, welcome to the BNB to USDT chart review on a four-hour timeframe. We will start by selecting the uptrend channel in which the price is moving at the lower border, locally we can see that we managed to get out of the downtrend line at the top. When we lay out the Fib Retracement grid, we see that the price stayed in the strong support zone from $241 to $236 and has now moved above it, however, when the direction of the price changes and the zone is broken, we still have very strong support at $229 and then level of $221. Looking the other way, we see a third approach to resistance at $245, then we can see a rapid rise to a strong resistance zone from $248 to $251, when it breaks out higher, we have resistance at $255, then at $261 $. The CHOP index indicates that there is energy to be used, the RSI is moving in the upper part of the range, and what's more, we can see that downward movements on the indicator give a larger correction than upward movements. On the STOCH indicator, we are approaching the upper limit, which may also affect the upcoming price rebound.
by cryptodailyuk
🥇GOLD - Consolidation below the support. Fibo retest GOLD after retesting the support area of the uptrend forms a false break of 0.5 fibo and declines, updating the local minimum at the beginning of the trading session. The market is forming consolidation below the previously broken support TA on the high timeframe: 1) Price in range, resistance was tested earlier 2) Price failed to make a new high on a retest of resistance 1984 3) Price is forming liquidity areas TA on the low timeframe: 1) A decline is formed after a retest of broken trend support 2) Price declines to 1950 and forms a retest of 0.382 fibo. 3) Most likely the market is looking for the area of local liquidity and forms consolidation of the potential for possible movement in one or the other direction 4) It is possible to decline from 0.382 fibo, or growth from 0.5 fibo. Key support📉: 1948 Key resistance📈: 0.382 fibo and 0.5 fibo
OANDA:XAUUSDShort
by AndeWave
17
GBPAUD long bias monthly perspective from daily charthi, there is an uptrend on this asset. price swinging upper 0.61 fib extension level, thats nice cuz price now above the 0.61 fibonacci retracement of 3 years. thats sense bulls are on control. i think price will range at upper level at august which 1.95-2.00. if needs a demand i think the changed 1.9 level is will be work as key. it has a nice bullish candle from price. high volume level of the trend inside of trend is at 1.9 level. i ll looking for gbpaud's bullish signal this month.
Long
by firatbicer
Mastering Elliott Wave: The importance of channelingI wanted to share my thoughts on the significance of using channeling technique in Elliott Wave theory when analyzing charts. To begin, we draw what we call a "base channel," starting from the beginning of wave 1 and extending it to the end of wave 2. This initial channel provides us with a foundation for analysis. The following occurrence of an impulsive breakout beyond this channel signals the initiation of wave 3. At this point, we create a new "Acceleration Channel" to track the movement of wave 3. If this newly drawn channel is breached to the downside, it suggests the possibility of a correction for wave 3 underway. As seen in the picture, the original base channel we drew earlier now acts as a support level for wave 4, accompanied by consolidation around Fibonacci levels. This observation has been witnessed numerous times in the past. When the corrective channel experiences a breakout with above-average volume, it serves as a signal indicating the completion of wave 4. This event provides an opportunity for us to establish Fibonacci targets for profit-taking. In this particular example, I have chosen to draw the corrective channel only on the final leg of the ABC correction, enabling us to catch the breakout at an earlier stage. A more conservative approach, however, would involve waiting for the breakout to occur after wave B has been surpassed. Hope this was helpful for those wanting to learn more about channeling and Elliott Wave.
TVC:GOLDEducation
by Ingvar77
🥇 GOLD - Retest on the back of the news could break resistanceGold is forming a quiet growth. Surprisingly, there is no violent reaction to the news, but at the same time the situation is still unstable. Today will be known data on employment and gdp. Keep an eye on the news! TA on the high timeframe: 1) Price forms a flat resistance retest. 2) This quick retest implies that the market is ready to continue rising. 3) Price is approaching the liquidity zone. A bullish impulse may be formed when this zone is broken through. TA on the low timeframe: 1) Price is moving in fast volatile moves, but note that a large position is being gained due to the fact that a drop and rise is being formed on increased volatility, but at the same time price continues to strengthen. 2) A retest of 1983.6 may form a pullback, but not a big one. 3) Price is still far away from the resistance breakout and in this case it will have to form a pre-breakout consolidation or a quick retest of the resistance area 4) Growth is the priority. But it is possible that the growth will occur after a pullback Key support📉: 1973, 1963 Key resistance📈: 1983.6
OANDA:XAUUSDLong
by AndeWave
14