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Retracement

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
the fib retracement hit 50 Percent retracement downtrendit hits 50% fib retracement so base on the fib retracement it continues to its downward trend. now it is hitting upto 60% retracement if it exceeds it is building new trend. if it respects. then shorting it will benefit you upto 30440 short. for fib retracement extension for take profit. for stop lost above 50-60% retracement. time will tell. like follow if this happens. all the best! DYOR TAYOR all the best! not financial advice.
Short
by pogi1234
1
AXS might be entering Corrective PhaseBased on my Elliott Wave count (be I could do at least), AXS is entering wave A of the Corrective phase. My Fibonacci Extension is purely for visual aid, if my thesis is correct, once wave A is complete, it'll be easier to chart wave C, by simply plotting a 1:1 Fibonacci Extension (wave A equal to wave C). I'm planning to carefully start laddering a Short position, keeping a close eye on BTC, since AXS has been extremely reactive to any BTC price action this week. Looking at the Level 2 imbalance between Bid and Ask volume for AXS (FTX exchange) of about 40%, seems like the market is eager to sell. On a longer timeframe of 4 hours, MACD is beginning to fizzle out. Ideally I hope for wave A to land somewhere in the 0.786 (~$61) region.
FTX:AXSPERPShort
by WhoIsWu
GBPUSD FOMC AFTERMATH 23.09.2021FOMC Statement and Federal Funds Rate announcement took place yesterday at 21:00 EEST. It was decided that the rate stays at <0.25%, The market for GBPUSD found support at 1.360. This was a long fall and we are nearly at the end of the trading week. A retracement is possibly at hand. Beware of the breakout upwards when the market passes level 1.369 to reach finally at 1.3730 This is considered a risky retracement though since the fall is not intraday and it might take long, perhaps until the start of the next week to finalize with the reversal/retracement.
Long
by UnknownUnicorn5944879
1
ETH LOOKING SUPER BEARISH!ETH is looking bearish in the short to medium term. If BTC drops below 38K then there is nothing stopping ETH from hitting $2200-2400, then back down to under $2000. We need ETH to get back into that rising channel to become bullish, otherwise we may be in a bear period for a short time. The DXY is looking BEARISH forming a Head and Shoulders so this is good for crypto long term. There is a lot of fear in the market which is a great time to accumulate. Safe trading.
COINBASE:ETHUSDShort
by Fakeoutking82
BTCUSD: Next move down to 41.200.The recent BTCUSD movements have proven my perspective from Sep-03 right. We're heading down and a new trend channel to lower regions is about to open. Price retraced from the top of the last mid term rising trend, down to the 0.382 fib level. It retested the 0.236 fib level in a fresh swing to the upside. Now it looks as if it would get rejected there. This confirms the current mid-term downtrend. Where now? The next level we could be heading to is the 0.5 fib level of the last mid-term upswing at around 41.200, if we should poke through it we would see 38.5k as well. Large retracements like this would be little surprising, we had this before. If not, we could still see prices confirm the new falling channel with another 51k retest. I think that this is less likely. If price would hit 50k and rise above, my strategy would prove wrong. What do you think? _____ Of course, this is not a trading advice, just my private analysis as well as a text for entertainment purposes. Never put your heart and your money in the same place. You could end up with your balance getting f***** while you're doing the hard work.
KRAKEN:BTCUSDShort
by My2CentsOnBTC
Wait for the price to retrace and confirm the downtrend with GBPH4 time frame. Structure: The bullish structure has been broken. The price was strong down after a successful retest at 1.38000. After the price breaks the support of 1.37300, it is possible that the price will appear a retracement to the 1.38000 and continue to down. Wait for the price to retrace to this level and a sell setup appears, then you can trade with GBPUSD. Profit target is 1.36000 zone. ----------------------------------------------------------------------------------------------- Wish you all have a good trading day!
Short
by tradafx
ADAUSD Completes Double Top PatternImportant things to note: ADA has retraced to 2.51 completing the double top pattern (M pattern) as I previously mentioned it would. The retracement confirms where ADA is heading, to 2.0 It is likely to make a stop at 2.2 and retrace a bit creating a new pattern which will tell us more. BTC has retraced and created a new lower high telling us the correction is still ongoing. BTC will likely close near 42826, if it creates a wick lower it will us another target to look for. Set alerts at 2.2 and 2.0. Great time to enter ADA using dollar cost averaging. Important Dates to Take Note of: ADA Summit Sep 25-26 2021 (likely to produce more important dates) As you know, I do not like to give concrete targets until there is some form of confirmation. That is how I trade and that is my style of TA, so it is reflected in what I post. That being said, ADA has completed the double top pattern (the M) and retraced to 2.51 completing the pattern. This retracement also lets us know that a fall to 2.0 is confirmed as of now. This can always change if there is a strong impulse buy at 2.2 which produces a higher high (it will be reflected in BTC as well). The retracement we get from that point will tell us if there will be further drops coming. The pattern is likely to take a stop at 2.2 and produce a small amount of retracement. Again, we are waiting for the impulse buy that creates a higher high. This will signal the correction is at an end. But like I said before, BTC is likely to continue correcting for a couple weeks so we will see where it ends. A fall to 42826 will mean a correction of about 20%. Normally corrections retrace about 20-30%. A fall to 38K would mean a correction of about 25% etc. We will see if a wick is produced letting us know what to look for. I would set my alerts for 2.2 and 2.0. That is all the information we have at the moment. Any further movements will be likely to produce signals and patterns letting us know where things are headed. If you are in at a higher price and do not have the money to dollar cost average all the way down, do not worry. ADA will create far higher highs in the coming months because there is no sign that the bull market is over. If you have the money to dollar cost average down, you are probably having a great time hearing this news. Again, you want to build your portfolio by acquiring assets at discounts. So, this isn't a bad time at all for you. I will keep an eye on ADA and continue to update you all accordingly. Thanks again! Also, it is worth mentioning that TradingView has reached out to me and offered me very kind words, and showed me some support. I thought that was very nice of them and it was very unexpected. Though, I never planned for any of this to happen at all. I was constantly making charts for myself and my friends and some of them suggested I post them publicly. I never imagined any of this would happen, if I did, I would have waited until I had a bit more free time LOL. However, it makes me really happy to know that people are learning from my charts and hopefully it will encourage you all to learn technical analysis for yourselves! In a couple weeks I will have more time to make the educational content you have been asking for, and I will likely chart a wide spectrum of assets. Thank you again for all of the support, it means more to me than you know! Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time. Again, I apologize for having less time to post at the moment, but that will change in a couple weeks. 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:ADAUSD
by mysticalwalrus
20
ADAUSD Ascending Channel Starts to BreakImportant things to note: If you want to see the overall plan for ADA look at post "ADSUSD A Price Movement Roadmap (All futures moves will correspond) ADA has closed below channel but will retrace to 2.5, retest 200MA if bullish, or just fall to my target of 2.2. ADA price is offset to BTC price moves which is why I believe move to 2.2 (may settle at 2.25) is more likely than 2.0. On my "Roadmap" chart 2.0 is my worst case scenario level. I believe BTC will push upwards at about 42826. If things stay the same, this will correspond with ADA at 2.2. Price was denied first at resistance. Price was denied at 200MA My major target is still 3.25 Alonzo release was priced in already, long term very bullish. Important Dates to Take Note of: ADA Summit Sep 25-26 2021 (likely to produce more important dates) So I have to make this quick. If you took a good look at my roadmap chart, you already know where ADA is headed and there will not be any surprises. ADA closed just below the channel. The price was beat down by the denial at resistance which I mentioned could happen in my last chart. It then tested the 200MA and got denied again sending the price downward. Right now the price can retrace to 2.5, test the 200MA if bullish all of a sudden, or fall to 2.2 and then retrace which I doubt. There is likely to be a lot of back and fourth action before 2.2 occurs but we will see. This move to 2.2 should correspond with BTC hitting 42826 which I believe will likely cause an impulse buy sending BTC back upwards. However, if BTC falls to 38k, we will see 2.0. That is what I believe at least by what I see right now. Alonzo was obviously priced in already which I think we all were expecting. However, Alonzo will prove to be extremely bullish long term. We are likely to see new developments in the defi space in October. I still have a major target of 3.25 which was backed up by 2 patterns, it is just a matter of time as far as I am concerned. Hopefully BTC will finish its correction soon. It will be finished once there is an impulse buy at a discount that people cannot say no to. It could last a couple more weeks so just be prepared. Try to stay relaxed, you already know the moves. You can enter at your discretion, however I personally would not exit the position until the end of the bull market. I will continue to watch ADA and update you all accordingly. Thanks everyone! Also, it is worth mentioning that TradingView has reached out to me and offered me very kind words, and showed me some support. I thought that was very nice of them and it was very unexpected. Though, I never planned for any of this to happen at all. I was constantly making charts for myself and my friends and some of them suggested I post them publicly. I never imagined any of this would happen, if I did, I would have waited until I had a bit more free time LOL. However, it makes me really happy to know that people are learning from my charts and hopefully it will encourage you all to learn technical analysis for yourselves! In a couple weeks I will have more time to make the educational content you have been asking for, and I will likely chart a wide spectrum of assets. Thank you again for all of the support, it means more to me than you know! Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time. Again, I apologize for having less time to post at the moment, but that will change in a couple weeks. 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:ADAUSD
by mysticalwalrus
32
ADAUSD A Price Movement RoadmapImportant things to note: This is exactly what an auto fib tool tries to do. Auto fib tools are only semi accurate. Doing it yourself is far more accurate. A fib should be used in conjunction with targets from patterns. This is how I come up with my price targets and calculate larger movements. I hope you can see the pattern that form and why they form. I did not use an auto fib to do this, it would likely not line up at all. I always recommend doing it yourself as you learn more. ADA is still consolidating, the move to EXT.1 will take time. It is unlikely that RET.1 will be hit with the information we have right now. Volume matters and it is the most underrated of all indicators. Important Dates to Take Note of: ADA Alonzo (smart contracts) go live Sep 12 2021 ADA Summit Sep 25-26 2021 Most people will look at a chart and see "green candle = happy, red candle = angry", however, I wanted to show you what I see when I look at a chart. I look for trends, patterns, and signals. I rarely use any other indicators than what you see on my charts. Sometimes I will use something situationally, but usually doing it yourself is best. You have all the information you need right in front of you. I hope by looking at my chart you can also learn to see what I see, and chart things out in a similar way for yourself. Anytime you have a target it should come with some form of confirmation, either by patterns, signals, or trend analysis. When you look at the shorter time frames the volatility increases, and reliability decreases which is why it is so difficult to be a day trader. It is much more easy to wait for pullbacks, and not to sound cliché, buy the dips. This is exactly what you should do while you build your portfolio and increase your knowledge. Further down the road, I will put out more advanced analysis as well, showing you how to trade in the short term. Now, looking at the chart you will see I have a target of around 3.25, this was a target I received from an old cup and handle and I do not think it is any coincidence that it also is equal to the depth of the last basing pattern which was formed. Not to mention the target lines up quite nicely with the other retracements that have occurred. I have been waiting for this pattern to complete for a couple weeks now, and I am likely to do more waiting. While BTC struggles to get its momentum we must wait patiently. I have named another minor target of about 2.9, however this does not excite me as much for obvious reasons. The same process that happened to ADA will happen to BTC where it will either reach a point where there is impulse buying and bulls move the price up quickly or it will be left to consolidate until bulls move the price up quickly. Either way, the price is going to increase in my opinion. I have always said I am not convinced of the doomsday prophecies people have been throwing around. That just does not seem likely to me at all right now. Anyways, I hope this helps you understand how I view a chart, which is why I do not get worked up over the small ups and downs of it all. In fact, I called the move to 2.79 perfectly while in a downtrend with no easy indication (like a big green candle) that the price was going to move. Hopefully you will be able to view a chart in the same way so you don't get emotional at the sight of a giant red candle. Always remember " you must be fearful when others are greedy and greedy when others are fearful" - Warren Buffett. I will continue to keep an eye on the movements of ADA and update you accordingly. Thanks again! lso, it is worth mentioning that TradingView has reached out to me and offered me very kind words, and showed me some support. I thought that was very nice of them and it was very unexpected. Though, I never planned for any of this to happen at all. I was constantly making charts for myself and my friends and some of them suggested I post them publicly. I never imagined any of this would happen, if I did, I would have waited until I had a bit more free time LOL. However, it makes me really happy to know that people are learning from my charts and hopefully it will encourage you all to learn technical analysis for yourselves! In a couple weeks I will have more time to make the educational content you have been asking for, and I will likely chart a wide spectrum of assets. Thank you again for all of the support, it means more to me than you know! Now for some good news. As a person who follows ADA closely, I know that the adoption of the platform will happen very quickly with the release of smart contracts on the 12th of September. In fact, I think it was built with such a great foundation, I might just do an entire post on the fundamentals of Cardano sometime in the future. Pretty soon, we will see NFTs being created, DeFi, applications being developed, and overall strong adoption of the ADA blockchain platform as a whole. If there will be any immediate reason for ADA to move higher, it will likely be news coming from the summit on the 25-26 of September. So I would keep an eye on their twitter accounts around that time. Again, I apologize for having less time to post at the moment, but that will change in a couple weeks. 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
15