FibnFork

FibnFork

USDJPY pushed back to its range low off the back of the weak dollar & Kuroda (BoJ Governor) noting that the inflation rate was close to its 2% target. Down at this range low we also have a trend line drawn off the 2012 lows, .382 fib (2015-2016) & .5 fib (2016 lows - 2016 highs). The .382 fib retrace (2012 lows - 2015 highs) is just below the trend line

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An incredible run in the eurusd from the beginning of 2017 has lead us to the key 1.25 handle. Has it run out of steam in this zone? We have the trend line starting at the 08 peak, the .382 fib retrace (08-17) & the .618 retrace off (2014-2017) Some weekly RSI divergence and a potential 5th wave count could see a reversal or will we pop through the resistance zone...

FibnFork Updated 

Litecoin stuck in a zone between a resistance & support zone both with a confluence of fib levels. On the top side we have the former triangle base + the slope off the 12th december highs. .618 (14th - 17th) & .618 (8th - 12th) On the bottom side we have the mid point of the channel which has acted as a good pivot. The .764 (8th - 12th) & .236 (14th - 17th) &...

FibnFork Updated 

We're back at that key long term .5 fib retracement off the entire market range. We also have the .764 retrace (17th - 20th) and the 100% extension off the H&S break. Will this level hold & see a retest of key resistance at ~$13000 or will it fall and see a retest of previous lows/trend line

FibnFork Updated 

This pitchfork (formed off 10/12 low -> 19/12 high -> 22/12 low) has been pretty effective at pivoting price action. Price currently bouncing off .5 pitchfork level and 9th jan high. If we head lower, with the pitchfork low will be the .5 fib retracement off (22/12 -> 15/1)

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Previous neckline turning into resistance. RSI teetering on the trend line. Range is narrowing and a breakout 1 way or the other will be expected soon. .618 of entire range @~1.2635. Confluence of fib levels/supports around ~1.195. If broken eyeing previous 17th dec low/15th december high @ 0.87. Break above neckline see a retest of .618 & 18th jan high

FibnFork Updated 

Testing the very steep trend line that has been in place since 7th december alongside a test of the RSI trend which started on 17th november. RSI has been diverging at this level where the upside is being capped by the long term trend line (2014 start) Look for a break of trend line + rsi and confirmation of downside. 0.713 level as first target area Keep an eye...

FibnFork Updated 

The well known ponzi scheme bitconnect being shut down extending our initial "crypto crackdown fear" slide into potential end of 4th wave and C correction. .5 Retracement of full market range acted as stop point as did .764 extension off A -> B and previous low in december crash. Hope for more positive reaction into asian session to recover the losses

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As seen on the chart the 200DMA has been an excellent buying opportunity. On this occasion it will line up nicely with the completion of the corrective ABC pattern. Dollar also testing long term support, so look for potential reversals

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Broken through the triangle on the crash lower and now we've come to test the underside of it. .618 retrace off crash also in area as is .618 retrace (7/12 - > 12/12) which acted as support before dip lower. RSI trend line also in play here

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Top of channel + .618 retrace 15-17th crash. Mid channel line in RSI

FibnFork Updated 

Fib retrace (22nd dec - 13th jan) Fib extension (13th -> 14th -> 15th) RSI trend line 2 trend lines on chart to keep an eye on

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Slide lower extended into the mid level which has acted as a pivot for price since 12th december. 4H candles have not closed below bottom side of triangle pattern. RSI support intact

FibnFork Updated 

Stand out head and shoulders pattern formed. Bounced off the .382 retrace (4th - 11th) on the surge of the "Moneygram deal" That surge lacked momentum - Low volume + lacklustre movement in RSI. A quick search of ripple will show why it is a suspect cryptocurrency. So I advise anybody looking to invest in ripple, to read any of the articles out there about it

FibnFork Updated 

Broke through Parallel channel & Range low to extend lower into the bottom of our shorter term parallel. Dip thus far has stopped at some good fib extension levels : .764 off 6th -> 11th -> 13th december move .618 off 17th(dec) -> 22nd(dec) -> 6th(jan) Slightly below those areas is the .618 fib retracement off the 12th november - 17th december climb RSI stopped...

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Edging lower towards mid point of longer term parallel channel, bottom of shorter term parallel and a confluence of fibonacci levels .618 retrace (september - november 2017) 1 extension off head -> right shoulder 2 extension off (21st -> 2nd -> 8th)

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Hitting top of channel and top of RSI range Looking for break of mid level shorter term parallel for follow through .382 retrace (august-december) in area

FibnFork Updated 

Strong rally off the back of dollar weakness pushes gold towards it's long term trend line and above that the .382 retrace (2011-2015 decline). RSI trend line could come into play as we reach trend line. Technicals alone will not shift momentum and a reversal of funds back into the $