markyoung

markyoung Feb 4, 2020

Potential short entry as the ES retraces to the 50% line on a 12 hour (720 minute) Fibonacci range. If it breaks through the 50% line there is a decent probability of a second short entry at the 61.8% retracement (a 'dirty short'). The ES has been in this cyclical range now for a week and the 50% to 61.8% retracement range has already provided resistance twice in...

markyoung Feb 2, 2020

Multi-timeframe Fibonacci analysis on the ES continuous contract - in this case a 24 hour (1440 minute) Fib set is overlaid on a 30 minute chart. In this chart the fib set was drawn at 4pm January 27th. Over the following few days price retraced to the 50% line then in the wee hours of January 30th provided a perfect "Dirty Short" entry off the 61.8% retracement...

markyoung Updated  Dec 9, 2016

CADCHF has retraced to a 50% retracement line that has held for almost two years, so there's a good probability that this line will once again provide resistance. If the 50% line fails, next potential short entry for me (on a daily time frame) would be at the red 61.8% retracement line. The not-very-clear pink arrow over to the left shows when these fibs were...

markyoung Updated  Dec 2, 2016

This four hour chart has a rolling Fibonacci pattern based on 8 hour bars overlaid - USDCAD has tracked nicely to 8 hour fibs in the past, often cycling between the 50% and -23.6% extensions of the most recent swing (highlighted by the arrow line). RSI in oversold territory with slight bullish divergence (RSI slightly up versus lower lowers in recent bars) Entry...

markyoung Updated  Nov 30, 2016

Just an observation - this month DXY has tagged the 61.8% retracement from the 2001 highs to 2008. DXY jumped from the 50% to 61.8% in the past two months, also recently overbought on the monthly RSI.

markyoung Nov 29, 2016

NZDUSD has been cycling up and down from the 50% retrace of a June upswing, and is now in heading up again after finding support at 50%. Past price action shows a good probability of reaching the 0% line around 0.73 This current set of fibs was drawn July 7th using Weekly data and has highlighted a few tradeable entries over the past four months or so. This...

markyoung Nov 29, 2016

These fibonacci retracements are drawn automatically according to a specific set of rules, time and time again - this takes me and my subjective viewpoint out of the equation and allows the recurring nature of the fib patterns to show. The fib patterns on this chart were calculated using Weekly bar data, and overlaid over a daily chart. Weekly-based fibs get...

markyoung Updated  Nov 29, 2016

These Fibonacci levels are redrawn every time a -23.6% line or 61.8% line is broken. On this 15 minute chart the fibs are based on 120 minute bars to reduce the noise of the 15 minute time frame - blue arrows show when fibs were redrawn due to a close beyond the green or red lines of the prior set of fibs. Based on past observations, price will likely cycle...

markyoung Updated  Nov 28, 2016

* demo account trade * Short entry at -23.6% retracement of a rolling Fibonacci pattern generated automatically. The Fibonacci patterns are calculated using Weekly bars, overlaid here on a daily chart. Supporting signals are overbought RSI and candlestick patterns. If price drops to 0% line stop will be moved to breakeven. If price breaks below 0% line, target is...

markyoung Nov 26, 2016

A simple rolling Fibonacci pattern redrawn every time a bar closes beyond the green line (-23.6%) or red line (61.8%) retracements. Potential trend-following entries would be at the 50% line, counter trend at the -23.6% or 0%, with oversold/overbought confirmation from the RSI This Fib pattern is calculated on 120 minute bars and overlaid on a 15 minute chart....