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Fibonacci Retracement

Ethereum (ETHUSD) Resistance - Expect at $240This is a daily chart, of ETHUSD on Kraken. We see a relatively bullish uptrend as of late, but I expect resistance to be hit around the $240 level. Why? A few reasons. Firstly, we can see a cluster of historical resistance and support around those levels. Makes sense for price to be tested there again. Secondly, the $240 level is right around the 0.382 retracement, if we draw a Fib from the high pivot around $364 to the low pivot around $165. 0.382 is a frequent area of resistance. Do you have different potential areas of resistance, based off of different analysis, i.e Gann, etc? Anyway, let's keep our eyes peeled.
KRAKEN:ETHUSDEducation
by realcapmillen
The Key Fib Levels of 0.618 and 0.786 + Volume ProfileHere's a chart that nicely illustrates how the 0.618 and 0.786 levels are frequently used as reversal points by the market. Price is ping-ponging back and forth between these key levels, and we can also see an almost full Volume Profile (parabolic in shape). The shape of this VP tells us that all the prices within this given range have been discovered, with the middle areas being the places where the most buying and selling has occurred. This is a sign of a normal and healthy range. So, we have the Fib levels working in unison with Volume Profile to paint a picture of a ranging market.
NYSE:MSEducation
by realcapmillen
No Longer Random: Here's Why I Believe in Fib Ratios & HarmonicsI am going through a book on Harmonics and Fibonacci ratios (The Harmonic Trader by Scott Carney), and I'm seeing for myself how these ratios can be used as key areas of reversal. I used to believe that day-to-day price action was random, but after looking at several charts for myself, I now reject my old belief and concede that price action is greatly tied to key Fibonacci levels and conforms decently to harmonic patterns. The key levels I highlight here are - 0.382 - 1.618 In the first leg, we draw our Fib off of the pivot around the $51 level to the pivot high around the $70 level. Here, we can see a reversal off the 0.382 level almost 100% cleanly. In the second leg, we draw our Fib off that same pivot high around the $70 level to the pivot low around the $63 level. Here, we see a reversal off of the 1.618 extension level, another key reversal level. In the third leg, we draw our Fib off that same pivot low around the $63 level to the pivot high around the $76 level. Here, we see a test of the 0.382 level, again. But wait, there's more. We can also draw an AB=CD harmonic using the following levels. - A: Pivot low around $56 - B: Pivot high around $70 - C: Pivot low around $63 - D: Pivot high around $76 The AB leg is roughly the same length as the CD leg. As you can see, AB=CD reversal also happens to be in that same 1.618 area. All of this works together in unison. Amidst all of these reversals off these levels, here's my Golden Rule : Use market structure as confirmation of these reversals. Look for 'M's (double tops) and 'W's (double bottoms), as well as bullish/bearish candles when appropriate, to confirm the direction of the reversal. Don't blindly trade solely off of levels. I didn't cover them here, but I also love seeing reversals off of 0.618 and/or 0.786 levels. Those occur very frequently, too. Just gotta train your eyes.
NYSE:ADCEducation
by realcapmillen
Roles of confluence zonesIt has been a very interesting move from bitcoin, after a drop to touched the $10095 region, the price was immediately moves back to claim again the support around $10300 region to produce a long shadow on daily candle. This action could be a good representation of the bulls making their best effort to defend the $10000 region as a huge psychological support. And looking at the chart that I've shared, the green dotted line is the resistance trend line if I want to exclude the bull trap region on previous action (body to body connecting method). And the second thing is the white region, those 2 white regions are the confluence zone between the fibonacci retracement and the fibonacci extention which I believe will act as a huge resistance for swingers. The first resistance zone is around the $10750 - $10800 region which is moving align with the green dotted line as resistance trend line. The second resistance zone is the confluence zone between golden ratio and the 1.1 fib extention. My bias here is remain the same as before with a push to the down side for the big picture. but, I see a possible push to the first resistance zone with a bull trap region producing until the 2nd resistance zone if the $10300 region can defend the current price from further drop.
BITFINEX:BTCUSDEducation
by julio24albert
Ethereum : Equilibrium on market and dominance on bitcoinHello fellas, Finally we get some moves on BTC and once again our analysis has met the precision here with a drop. I've warned you about the bull trap region and possible drop. At the time I made this post, the bitcoin dominance is standing at around 69.4% which is extremely high and not ideal for me. So, I believe in the near future, the dominance will throw over from current level and we will see a drop on bitcoin too. The biggest question is, what could happen on altcoin market? will it follow the bitcoin's drop? or will it moves against bitcoin? Personally, I really think that current price of altcoin is pretty low and most of them has already touched the historical low. I really can't imagine if the price of that altcoin will drop from current level, it will be such a hell. I use only the logical think to represent my view on current market. Just imagine if the dominance of bitcoin decrease, this will mean there will be a money outflow from bitcoin to keep the equilibrium play in this major market and if there is a huge outflow from bitcoin investment, I do believe the money from big investors which is known as whales in crypto industry will fill in the altcoins space to help bitcoin decrease its dominance. This phenomenon will cause a negative correlation between bitcoin and the altcoin. I choose to pick ETH as my weapon on this possible bullish scenario on alts because Ethereum is the 2nd largest crypto in this universe just under bitcoin in its rank based on market volume. I do believe in its project too. And from the technical side, it is moving align too with my above statement. currently the price is playing in the break out cycle both on diagonal and horizontal levels and based on the RSI and MACD, I see the price is gaining strength with its bullish divergence on daily based. I need to see 1 more drop toward the white region and if this level can hold on the price, I will open a long position from there. This will be a beautiful trade if I have all the confirmation is being met and you will feel how satisfied is with this profit.
BITMEX:ETHUSD.PEducation
by julio24albert
Bitcoin : key levels and significant resistance trend line.Hello fellas, Happy monday and have a good weeks ahead. a new week, new passion and I hope a new extra profit for us! let's talk about the key levels for bitcoin which will cover the support , resistance and the correlation with the fibonacci levels. As you can see, that the weekly candle is about to close in less than 2 hours when I made this post and the newest weekly candle close isn't significant at all for me. currently the weekly candle is forming an unknown pattern making it very random and neutral. That's why, I am not trying to explain my bias in this post. I just want to share about the analysis of price action and key levels that I've found interesting If you see my chart, I've shared 2 colored region which the grey region represent the key support and the blue region represent the key resistances. Each of this key levels here is moving align with the fibonacci levels. and I want you to highlight the period after November 5th, 2018. First action is at May 13th, 2019 the price has already broken up of the resistance zone and on June 3th 2019 the resistance zone retested and produced a bounce before another break out. Second significant action is at June 24th, 2019 candle. A really nasty wick has occured after the price tried to breaks the 50% fibonacci retracement and ended up getting rejected. After that the price was trying to break out of this 50% fibonacci levels again and always got a rejection toward the upside and it formed a shooting star candle. and for me, this action is very significant and has proven this region as a heavy region. Another highlighted thing that I want to share is the green line. after a break out at April 2019 (yellow sign) I haven't seen any retest toward this previous resistance that is now become support as well (remember my 3 phase break out strategy). Ideally, before the end of the year, I really wish that bitcoin will test this green line again as support. Thank you.
BITFINEX:BTCUSDEducation
by julio24albert
Bull Trap : Characteristics when the price is close to the APEXHello there my fellas, welcome back to my Sunday update about bitcoin! Well well, it has been a very interesting play for bitcoin for now. The condition is this, The price is moving very close to the upper line of the huge descending triangle (green line) and of course if we look at lower time frame, it looks like the price is going to break this resistance trend line. I am thinking of it more like a possible bull trap moves if it breaks the green resistance trend line on lower time frame and I believe it will only produces a long wick to the upside. Yes, maybe it is a very random statement for most of you because we have seen a strong volume and strong dynamic support that has defended the price really good. But, let's think like we are the whales who want to open a short entry because we see a huge descending triangle in play and the price in higher time frame view is losing a lot of strength! As a whales, I will definitely try to 'kill' the shorter in lower period of trading window. Why? because I want to get a short entry at higher rate so my risk to reward ratio will be better. The second reason is because the price is moving very close to the APEX of huge descending triangle, I am very sure there will be a lot of faking out moves to represent the war between the bulls and the bears! I believe the price will touch again the $10500 region as it is the golden pocket region or we can considering the area between the $10650 - $10700 as the last region for the long wick to the upside because it locates right at the 78.6 fib level and the previous swing high. Thank you and the daily view will be shared on update section.
BITFINEX:BTCUSDEducation
by julio24albert
2
Dynamic Resistance and Phase 2 of break out strategy.Hello fellas, Do you remember when I said that is a probability for EOS to touch the previous support that is now become a resistance as a possible action for phase 2 break out strategy? Yes, I believe that scenario is going to happen before a major drop and still I am expecting a rejection at retested region for phase 2 confirmation. But, as a day trader that is not very wise to just wait the price at the resistance to enter the big short when we see a possible spike toward the upside as the confirmation of wave 5. That is why I am interested in entering long position for this alts! The reason is : 1. The dynamic resistance on 2 hours chart is holding the price really good. 2. Based on elliot wave count, there is 1 more possible wave up 3. The momentum of bitcoin which will spike higher. It will affect the price on alts with USD pair and will have a positive correlation. With sacrificing not more than 4% and a potential return of more than 9%, I think this set up is pretty good. I divide 3 take profit region: 1. at the tiny golden pocket which I represent with yellow region 2. Previous swing high 3. Slightly under the 2.618 fib extention levels which has a confluence pattern with previous major support that is now become resistance to be tested. Thank you
BITFINEX:EOSUSDEducation
by julio24albert
EOS : Death cross and phase 2 of break out strategyHello fellas, Let's discuss this beautiful EOS. Let's get to the point. I use bitfinex exchange to analyze current moves. From the chart that I've shared, there is a white support trend line that has already held the price since December 7th, 2019 and then it has broken out since August 14th, 2019. And since this break out, the price has never retest again the white trend line as confirmed resistance. I believe the last 11 days rally is a part of phase 2 break out strategy which will end up at the white trend line as confirmed resistance. In other side of fibonacci view, we can see the golden pocket zone is moving align with this previous support trend line. and when the price touch this golden pocket zone, I will be very interested to enter short position for EOS. My targeted area for take profit will be on previous swing low which is around $ 3.2 will produce a good rr. The risk to reward is pretty affordable with sacrificing 2% loss to catch the significant 23% profit. Thank you
BITFINEX:EOSUSDEducation
by julio24albert
The Precision, 5th truncated wave and Next possible stopHello all, It has been a very volatile day in the market, A huge moves has occured in today's market and I saw a lot of drama occur. But, once again our yesterday's scenario is going really well with 5th truncated wave at the upper line of the triangle. Back to the 4 hours chart which is becoming the best benchmark for swing traders. in this specific period, you can see the yellow trend line which become the broken resistance previously and until now, I haven't seen any proper retest toward this resistance again that is now become support. Usually, after a major trend occur to the upside, we will try to find a support for possible place to catch the reversal. I use the fibonacci levels to find supports and in this case, I really don't think that the golden pocket on fibonacci retracement can hold the price considering the fact that bitcoin is moving inside a huge descending triangle. In my opinion, The price should touch again the major support on around $9400-$9000 region where this horizontal support will find an alignment with the yellow line which now become a support trend line. and if this breaks, you will see a very very nasty drop from bitcoin. Right now, I want to stay idle and watch the wild volatility that occurs in the market.
BITFINEX:BTCUSDEducation
by julio24albert
Elliot wave perspective on BTCGood afternoon all of my fellas, How are you doing? did you catch the last awesome bulls? I hope you are doing so. Let's get to the point of today's bitcoin analysis! In this podcast, I will cover the daily movement, intra day and scalp opportunity on bitcoin. Based on this chart, I show you 2 support and upper line movement the green dotted one and the green line. The different between this 2 line is based on how I connect the price. the green line I use the wick to wick connecting method which doesn't exclude the bear trap and bull trap region. the green dotted line, I use the body to body connecting method which exclude the bull trap and bear trap region. Based on those 2 line, It is clear that bitcoin still has the room to grow to the upside of the upper line. And based on my opinion, it can be at the golden pocket region around $11100 region which in fact has a confluence with the upper line of the triangle. And for smaller time frame view, I will give you an explanation on update section.
BITFINEX:BTCUSDEducation
by julio24albert
Room to grow, support and resistance for bitcoinFor all of you who has opened a long position since my last signal should be in an amazing profit by now. That's why congratulation for all of you my baby. here we come with another view on bitcoin based on daily chart. First, the last volatility is just amazing and if you have seen my previous analysis about bitcoin, you should have opened long position since $9500 region. Right now, the price is trending inside the huge descending triangle and I clearly see the potential of the price to fill the empty room toward the upper line of the triangle. but, looking at the size of current daily chart, it has a huge possibility for bitcoin to have a spike toward the golden pocket zone or even at the 78.6% fib retracement region before another drop to the downside. Looking at the MACD indicator right now, the histogram has a significant ticking up to the upside and to the positive side. if this condition can hold until the daily candle close, I firmly believe that the price will fill the empty room toward the upper line of the triangle. Currently the price has already claimed back the dynamic support on daily chart and this is a pretty good sign for me. Thank you I will keep on updating about bitcoin's current moves.
BITFINEX:BTCUSDEducation
by julio24albert
1
EUR/USD UPTRENDING !!*-BROKE ASCENDING TRENDLINE *-DOUBLE BOTTOM FORMATION SIGNALING A TREND CHANGE *-PRICE IS ABOUT TO CREATE A NEW DESCENDING TRENDLINE *-I AM EXPECTING A FURTHER MORE SMALL PUSH TO THE DOWNSIDE TOUCHING THE SUPPORT AND FIBONACCI RETRACEMENT *-PRICE MIGHT ALSO CORRELATE WITH 50 EMA *-WAITING TO SEE SOME PRICE ACTION/CANDLESTICK PATTERNS ON MY POCKET BEFORE ENTERING A LONG TRADE *-BE CAREFULL OF NFP THIS FRIDAY *-ITS BETTER TO CLOSE ALL OPEN TRADES BEFORE NFP #tradesafe #education #bestsetup #learn #freecontent
Education
by theforexdaddy
The "Pulse" of an asset times Fibonacci: Golden Ratio of GrowthLTC in a perfect example of "Golden Ratio of Growth". Each extension is 1.618 times the previous extension. Most things in Nature which Grow, do so by this Ratio. Impulse was from the Bottom of Despair. Ripples were all grown with perfect Ratio. Retraces will be of much similar proportions. . . Ordered Chaos every Wave is born from Impulse, like a Pebble into Water. every Pebble bears its own Ripples, gilded of Ratio Golden. every Ripple behaves as its forerunner, setting the Pulse. each line Gains its Gravity. each line Tried and Tested. each line Poised to Reflect. Confluence of 2 is Dependable. Congruence of 3 is Respectable. Coincidence of 4 is Worshipable. every Asset Class behaves this way. every Time Frame displays its ripples. every Brain Chord rings these rhythms. He who Understands will be Humble. He who Grasps will observe the Order. He who Ignores will behold only Chaos. Ordered Chaos . . . want to Learn a little More? can you Spend a few Moments? click the Links under Related.
COINBASE:LTCUSDEducation
by EuroMotif
1
GOLD - Daily - Multi-Timeframe Analysis Series 1GOLD has a correlation to the strength of USD, as a risk-off asset investors seek haven in the event of Dollar weakness (USD falls > GOLD rises). I'm sure there's more to it than that, be sure to check it out online for yourself. Comments The Daily timeframe is looking very clean when it comes to price action. Having formed bearish MACD Divergence between 4th January - 20th Feb, we have since seen this break down on the the lower timeframes. What concerns me about shorting this just now though is the Daily 50 EMA which seems to be propping up price at the region of 1300. This is the same region we had a minor rejection on the Weekly timeframe too. The two red arrows highlight the potential for 2 shoulders, one left and one right, which could be an indication of a bearish Head & Shoulders pattern forming. This adds a lot of confluence to our overall bearish sentiment, and could be the markings of further consolidation which we referred to in the earlier lessons. A double top on the Daily would be a prime signal for a sell-off cascading up the higher timeframes. This may not happen if we see more selling pressure. Let's see what this next week brings! Key Note Head & Shoulders patters can be traded as is or used for overall market sentiment. In their nature, they are consolidation / reversal formations.
FX_IDC:XAUUSDEducation
by robdee4x
DXY - Monthly - Multi-Timeframe Analysis Series 1Continuing with another episode of Multi-Timeframe Analysis Series 1, I'd like to break down the DXY. The DXY being weighted as follows: EUR - 57.6% JPY - 13.6 % GBP - 11.9% CAD - 9.1% SEK - 4.2% CHF - 3.6% As you may imagine, there's a lot more interest in using the DXY for a correlation / confluence tool when trading the EURUSD. The EURO equates to over half of the overall weight of the index, meaning there's a majority interest in the EUR vs USD. We can use this to our advantage, alongside the USDOLLAR INDEX, to add positive or negative trade factors when considering positions across USD pairs and commodities. Comments Looking at the Monthly timeframe we appear to be stalling between the 61.8% retracement of A>B as indicated on the chart. Price is showing high test candles at this level, as well as a potential rolling double top (continuation formation). Given the circumstances of this in its current form, 94.00 could easily be on the cards as we move into the second quarter of 2019. Key Note At time of writing this, it's the current monthly candle cannot be considered an indication of direction just yet as it hasn't fully formed (being the 24th of the month).
TVC:DXYEducation
by robdee4x
3
Example of FibbyTenths indicator on DOGEBTCI recently put out an indicator entitled "FibbyTenths" and wanted to show a nice example of its usage. Here it is on DOGEBTC on the 1D chart. What are you looking at? Line 1.000 (pink) is a baseline from which all other levels are calculated. To get the 0.618 line (for example)= Baseline * 0.618. Pretty easy. As you can see, there are numerous examples of the price reversing direction from, or rebounding off, the 0.618 and 0.236 lines.
Education
by Quicksilver80
[DXY] How to use Fibonacci IndicatorHi guys ! This a simple chart with a explicit Fibonacci Indicator. Many people asking me how to use it, it's easy, have a look. Story : Fibonacci was an Italian mathematician (1175 - 1250). He discovered this number sequence like this: Each numbers is calculated by adding the two previous numbers, for exemple : 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89... The special thing in this sequence is that every numbers is 1.618 of previous and 0,618 of next one. And as you know, 1,618 is the "Gold number" . (Hope my english is not too bad haha) 1 - Choose a higher and lower price (downtrend) or lower and higher price (uptrend) 2 - Fibonacci will retrace different line at 23.6, 38.2, 50, 61.8, 78.6 and 100 % 3 - Theses line will be the next supports / resistances in the correction / bounce You can use it to place the best order (BUY or SELL) and make more profit. Ask me for any questions ! Thanks for your time.
TVC:DXYEducation
by AnthoXBT