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USDTRY: WeeklyAs you see, current bullish move was already predictable from October 2019 using TD (DeMark) breakout projection no. 2. Now, price is facing very strong support - May central pivot range (CPR), May Camarilla S3 reversal level, yearly classic S2 pivot, yearly Fibonacci S3 pivot (did not plot the last 2 to have it more clear - but they are there) all at same point, confluence with May S3 reversal level. If this level holds and price is rejected, what is also possible, it will bounce up and continue in uptrend or range above monthly CPR. If price breaks through monthly pivot range, as it is moving quite decisively into it and we have got that weekly pin bar reversal on top, short trade may be taken to former yearly roof R4, now support. At any case May CPR (I highlighted it black) is a fulcrum which holds the price now. If it is pierced through, that is it. After reaching highs, Turkish lira makes those descending ranging tails. What might be a scenario here. But there is a concern - price missed April pivot and April CPR, did not even test those. Such things occur at the onset of strong trends. Next month (or be it a day, week, depending on chart) price pulls back to the pivot and continues higher. So it is very important what happens at May CPR (that highlighted black zone). Price should move lower and touch S3 - May pivot. Then we will react depending on how it will behave after that. S4 is May floor. May roof R4 was pierced, that should be noted too. THIS IS NO FINANCIAL ADVISE. FOR EDUCATIONAL PURPOSES ONLY.
by ICFX
1
👨🏻‍🎓 The Fibonacci levels 👨🏻‍🎓 😊Guys, we are smoothly approaching the completion of the Technical Analysis section.👨🏻‍🎓🙌🏻 🧐Today I want to introduce you with Fibonacci levels. 💪🏻Let's start 💪🏻 👨🏻‍🎓 Leonardo Fibonacci is a great mathematician who lived in the XI century. ☝🏻 👉🏻The scientist deduced a number of natural numbers, which later began to bear his name. Each number in the series was the sum of the two previous numbers: 1 + 1 = 2; 1 + 2 = 3; 2 + 3 = 5 etc. The result is a series of numbers: 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, etc. Fibonacci numbers have some properties: 📌Division of any number of the series into the subsequent tends to 0.618 (the golden ratio in ancient Greek and ancient Egyptian cultures); 📌dividing any number of the series by the next + 1 tends to 0.382; 📌dividing the subsequent number of the series by the previous one tends to 1.618; 📌division of the number of the series by the second number preceding it tends to 2.618. Fibonacci numbers are often used not only in technical analysis, but also in physics, astronomy and other disciplines.💪🏻 ☝🏻 The technical analysis usually uses the number 0.618 or 61.8%, 0.382 or 38.2%, as well as the psychological half (middle) of 50%. ✔ Very often, based on these coefficients in the technical analysis of the market, Fibonacci lines, Fibonacci levels and Fibonacci periods are built. Fibonacci lines are built relative to significant highs / lows and represent support or resistance lines, from which they make a purchase or sale. Fibonacci numbers - the magic of numbers that works in everyday life. But it works with varying success in trading. ⚡ Please note, that the number of Fibo level workouts is much less than the number of failures. The same applies to other types of levels and various methods for constructing them. 💥 You can simply draw arbitrary horizontal lines on the chart, and ... oh that's mystic... they will also be worked out both in the past and in the future. 💥 🌞🌞My dear, if you have questions about the topic or you want me to continue the topic of TA, write about this in the comments✍🏻✍🏻✍🏻 Stay with me💋 Your Rocket Bomb 🚀💣 Below are links to previous TA ideas👇🏻👇🏻👇🏻
BITSTAMP:BTCUSDEducation
by RocketBomb
6
Short term Tezos play up to $2.66 then back down to $1.98.This is just my calculations using Fib circles and Fib lines to guide me on the possible next few weeks' outcome for Tezos. This is just my opinion and not meant for trading advice. Please do your own research and understand that this market is extremely volatile. Given that the Bitcoin halving is just weeks away I believe we could see a move to the upside with Tezos. Now, could we go lower with Tezos in case Bitcoin falls another couple thousand dollars to the $4400 range? Yes, this can happen and if so Tezos will go lower as well. Please be cautious. Note also that we are about to come in contact with the 50-day moving average and when this happens Tezos usually has broken above the 50.
BITFINEX:XTZUSDLong
by altcoinb
PRU and their LinesWARNING: This is Probably crazy enough to Work A ) When the yellow line is descending or ascending, and the strong trend line (White Line) is rising, and the bottom dollar trend line(Green Line) is rising, if the green line passes the middle White line first, it followed the red arrow. B ) When the yellow white and red lines are ascending, and the middle white line crosses with the yellow line... It followed the green arrow. I went back to similar movements, and mapped out similar lines, with similar time lines. I know it's weird, but I like to draw lines on charts. Sometimes I don't even know what the company does.. But their lines talk to me
NYSE:PRU
by CadillacPat