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Retracement

ADAUSD Chance for Double BottomImportant things to note: BTC retracting has started. I do not see BTC going past 46k. ADA chance for double bottom on 1D Double Bottom would produce a target of 2.62. This would smash the resistance level. Pattern would also create a cup for further targets. Important dates: BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24. The BTC FOMO buying finally subsided and now we get to see the retracement we were looking for. I do not see BTC going past 46K and I would like to see it stay above the 50MA on the 1D chart. ADA's retracement depends on BTC at the moment. Right now we have many options but the one I would like to see the most is the double bottom pattern on the 1D chart. Typically, you will see patterns be created on the lower time intervals and repeated on the higher time intervals. We have already seen a double bottom on the 1h, 4hr, and now I would like to see it on the 1D. This is the same for any pattern really. I want to see this pattern complete for a few reasons. First, it would signal a long term reversal (we already saw that coming however). Next, it would produce a target at a level higher than the resistance we need to get past at the moment. Third, it would create a cup which gives us potential for a cup and handle. I have already seen a cup form on the 4hr so I would not be surprised if we see one on the 1D as well. Anyways, I just noticed it and I wanted you all to be aware. This is what I am looking for. If I do not get it, I hope someone creates a meme out of this called "the pattern you want vs the one you get" LOL. I will continue to keep and eye on ADA and update you all accordingly. Thanks again! I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it. Tell me what you think? This is not financial advice. DYODD.
KRAKEN:ADAUSDLong
by mysticalwalrus
20
GBPUSD - Trend Continuation Or Bullish Movements?Hi Traders! The market is, on this Timeframe, in a Downtrend. In our view, there are two possible scenarios of how the market could move: It reaches the Weekly Resistance, then it turns back down --> Down It reaches the Weekly Resistance, retraces and shoots further up --> Up However, we have these technical factors which could affect the price: Weekly descending Wedge Weekly Resistance @ 1.37 Daily Resistance Area Potential 4-hourly Trendline Potential developing Divergence If you have anything to add or a different point of view, feel free to comment! Thanks and successful Trading :-)!
by swissmoneymakers
EURUSD short retracement? 04.10.2021It is Monday early trading, but this might be a good opportunity according to the H4 chart for the short-term/daily move. The long term seems quite different though but a short-term retracement is more likely to happen. Note: The market was falling recently due to dollar strengthening. The only problem today is that it is Monday and volatility is not so high, causing less probability for generating trends. Will stick however to the long for now with caution until the fibo 61.8 % of the move as indicated by the level.
Long
by UnknownUnicorn5944879
1
More selling opportunities on EURUSDOn Friday we closed our short positions on EURUSD. Now, we expect a pullback to 1,1650 and from there, we will be looking for more selling opportunities. We will be watching out for a reversal candlestick formation in order to make an entry. This time our target will be price reaching and breaking below the previous low at 1,1563. We're not entering a trade at current price levels, but instead, we are waiting for higher price values so we can have a better ratio! In our next analysis we will be sharing with you the levels below 1,1563.
Short
by ForexTrendline
14
Wait for the opportunity to sell with CADCHFH1 time frame. Structure: Uptrend. The price moves in an ascending channel with a wide range. There is now a divergence signal and the key level is at 0.73000. Wait for the confirmation of the downtrend and the appearance of a sell signal, then you can sell with CADCHF. The profit target is the support line of the price channel, price zone 0.72400. ----------------------------------------------------------------------------------------------- Wish you all have a good trading day!
Long
by tradafx
ADAUSD Time For A Small PullbackImportant Things To Note: Price has had a significant price increase due to the BTC squeeze. We are in a bull trend now if it isn't obvious by now or you haven't been following me. Before price moves ahead it will retrace with a few options. Minor price target of 2.37. Major price target of 2.51. Resistance 1 at 2.30. Resistance 2 at 2.45. Retracement for handle range 2.20-2.16. Retracement for normal pullback 2.09. Retracement for slightly higher low bounce 2.98. Retracement for overcorrection 1.91. Price will retrace before moving towards price target. If handle is formed major target is in play. (Calculated by depth of cup added to top of cup) So now that we have had a bull rally due to the BTC squeeze, we are due for some retracement. If you don't know what I mean, you probably heard me mention that contracts expire earlier today, and if BTC pushes, it will force the shorts to cover their positions. This is what made the price increase so fast. Before ADA can reach the minor target or the major target it will need to retrace. We have a few options for retracement. First, we can retrace to form a handle between the range of 2.20 and 2.16 for the bottom of the handle, in which case our major target of 2.51 will be in play. The next option will be a normal retracement down to 2.09 in which case our minor target will be in play after retracement occurs. Next, we have a slightly higher low retracement followed by a bounce at the 2.98 level. Lastly, we have the overcorrection retracement which will occur at 1.91 and accompanied by an even greater bounce. These are the options I see ahead. Ideally, I would like to see the handle form, but if any of the other options come into play, that is fine as well. Remember we are in a bullish trend until proven otherwise so don't panic during the retracement. This is completely normal. This will likely occur the majority of the weekend, however I see another bullish weekend ahead. I will continue to watch ADA and update you all accordingly. Thanks again for all the support! I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it. Tell me what you think? This is not financial advice. DYODD.
KRAKEN:ADAUSDLong
by mysticalwalrus
44
potential short position on Gold Spotwe foresee that gold still in bearish pressure in Higher Timeframe now price is stuck in suppy area and previous liquidity pool area which mean there a prob to bouncing confluence with fib retracement 38,2 at daily chart and 61,8 at h4 timeframe our 1st scenario gold free fall to last strong support at 1722 (confluence with 161,8 fib) alternative scenario gold will move up to area 61,8 fib daily retracement (1776) then bounce back to 1722 make sure to get confirmation like candlestick formation with other cofluence (Trendline, SnR, Chart Pattern) happy trading
OANDA:XAUUSDShort
by berli86
NQ Power Range Report with FIB Ext - 10/1/2021 SessionContract - CME_MINI:NQZ2021 - PR High: 14712.75 - PR Low: 14687.00 Evening Stats - Gap: = N/A - Session Open ATR: 220.88 - Volume: 57k - Open Int: 225k - Trend Grade: Neutral - From ATH: -7.0% (Rounded) Key Levels (Rounded - Think of these as a range) - Long: 15819 - Mid: 15247 - Short: 14676 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
CME_MINI:NQZ2021
by mv3trader5
A possible retracement on EURUSDIn our analysis from yesterday we shared with you why is not a good moment to sell. Today we stay aside of EURUSD, and we're focused on other instrument with more potential. Here we can see price slowing down and loosing strength in this downside move, which means we should be looking at a retracement pretty soon. We're not expecting a full reversal, therefore we won't be looking for buying opportunities. A possible pullback would mean a good levels to sell again. So be patient and don't rush into short trades right, especially if you haven't made any profits on this move so far. Good opportunities require patience!
by ForexTrendline
16
ES at 0.62 Fibo: Lower Soon?!Note the consolidation zones along the S/R line reaching back coincide with the Fibo retracement 0.618 level; bull/bear battle zones, likely rejection zone. Overbought condition, indicators pegged, but can always squeak higher ofc. A move lower is likely imminent, Whether it proves to be a higher low and price returns to lofty valuation, or a real correction, TBD. Thursday's nutty wild bull price action feels like a blowoff top, confirm it Friday IMO. Fade the Gap didn't play on 9/23, perhaps it will 9/24? Looks like a Pumpndump forming atm. Watch for short covering in Power Hour Friday! Trade with caution! GLTA!
CME_MINI:ES1!Short
by DaddySawbucks
23
FIGS, On the way to 70 USD! Who wants to miss the chance?FIGS is going to bring us a considerable profit !. How much? lets follow the idea. FIGS reacted nicely to strong support (34.13 USD) formed by two different types of Fibonacci after an abc form of correction shown on the chart. A considerable up ward move started after the mentioned correction which seems to be the wave 1 of a new 5 leg up going wave. After that, price retraced 61.8 % of the last move. This minor decline maybe the wave 2 of the up going wave cycle. If true, the golden wave 3 move has recently been started. Mentioned up going wave cycle which is itself a wave 3 of a larger cycle Elliott wave can push the price at least up to around 70 USD. It is worth to note the broken down trend line acted well and nicely as strong support twice which suggests this dynamic support is a strong and valid one. please note the beautiful bullish reversal in stochastic indicator exactly at the support. Amazing one ! Like always , despite of all these bullish signs we have to trade objectively. So we set our stop loss carefully in the case of opening a long position. Long trade: opening price : Current prices Mid term target: 70 Stop loss : 39 Reward to Risk : around 8 ! Good luck every one and wish you considerable profits.
NYSE:FIGSLong
by SaeedSajedi
4
Waiting for uptrend confirmation and buying opportunity USDCADH1 time frame. Structure: The downtrend is broken by a strong upward move. At the 1-hour time frame, we can wait for the price to return to the 1.26700 zone (the 61.8 Fibonacci and support confluence) then we can wait for the bullish confirmation signal to appear. Profit target is 1.28800 zone. ----------------------------------------------------------------------------------------------- Wish you all have a good trading day!
Long
by tradafx
NQ Power Range Report with FIB Ext - 9/29/2021 SessionContract - CME_MINI:NQZ2021 - PR High: 14782.50 - PR Low: 14761.75 Evening Stats - Gap: = N/A - Session Open ATR: 218.06 - Volume: 42k - Open Int: 230k - Trend Grade: Neutral (CHANGE) - From ATH: -5.5% (Rounded) Key Levels (Rounded - Think of these as a range) - Long: 15819 - Mid: 15247 - Short: 14676 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
CME_MINI:NQZ2021Short
by mv3trader5
GBPUSD is this a good opportunity? 29.09.2021The market was bearish yesterday when with he GBP loosing strength while the USD was gaining. Most of the pairs having the quote currency USD, were moving downwards showing significant volatility. A 190 pips downward move for GBPUSD, since the European session started, was the result of yesterday's activity. With Powell's and Yellen's talks regarding economic policy, the USD kept its strength and, importantly, no significant retracement took place. We expect this to change this morning (EEST) and according to Fibo retracement level, the pair finally to retrace around 1.3590 the least. Usually the GBP gains momentum at 9:00-10:00 (EEST) during the London/European session.
Long
by UnknownUnicorn5944879
1
GBP/USD Technical AnalysisAfter a strong daily close after touching the 1.36 support area price rushed all the way to 1.3750 before retracing to 1.3660 area again. This retracement is close to ideal as it touched the fibo 0.618 several times and did not go below. The retracement trendline is now broken and I believe pound will continue its move towards 1.38 area somewhere between the -0.27 and -0.618 Fibonacci targets. Can be entered immediately or after a possible retest of the bearish trendline , for a conservative sl it can be put under 1.36 and for an aggressive sl below the fibo 0.618 support area . Trade at your own risk.
Long
by alicanuz