Hello traders, in this post, we will be going over one of the most commonly used tools in the equities (stocks), forex (fx), and cryptocurrency markets - the "Fibonacci Retracement". For a better viewing experience, please view this on your desktop/PC, as the mobile and tablet versions of the charts are harder to read. Although I have briefly touched on how to...
👨🏫 A students ask me to clarify a strategy I use when momentum trading using retracements in something I call the "Springboard Effect" The theory is, the deeper the retracement after the initial impulse move the less chance of an extension or "strength" of the continuation. I like to use the analogy of a Spring Board, (or diving board) and the stiffness of the...
Fib Circles are useful to see support and resistance levels that are not horizontal. Please like the tutorial if it has helped you and follow us for more educational videos!
Every full-time trader knows that rule number 1 in this business isn't to make money; rule number 1 is: don't lose money. Hence, any successful, long term trading strategy must inherently focus on managing risk. I know that lately the word risk carries next to no meaning, and that's because the more risk you take, the more you're rewarded, while those who manage...
Long term analysis shows NIO may still be extremely weak and ready to be a leader on the downside. Are the bulls here to stay and can they save NIO? NYSE:NIO
I've recently come across a lot of posts where the fibonacci retracement tool was erroneously used, and this gave me a good idea for an educational post. Introduction: The Fibonacci Sequence - Before talking about fibonacci retracements, it's important to understand what fibonacci sequences are. - Fibonacci sequences are numbers that are equal to the sum of the...
I've had a few of you guys asking me about how I determine my corrective/reversal points per fib, and since I had a great trader teach me the ropes on how fib moves, I thought I would do the same. Follow each colored arrow to its respective fib. These are typical fib patterns to see on retraces. The same happens in bear markets. Also, you will need to apply...
Corona took a hard hit on the market. Lets watch these next levels.
TRADING PULLBACK RULES 1 - Find Daily uptrend with HH's & HL's. 2 - Switch to the 1h Time Frame and Wait for a Pullback against the Uptrend. 3 - Place Fib between last swing high and low levels, prior to the pullback. 4 - Buy Anywhere Between 50% and 61.8% Fib. 5 - Place Stop Loss below Swing Low. 6- Take Profit at break above the ...
Plus version of Waves with components from both Waves Advanced and Mnemosyne. Essentially, Waves+ is highly configurable hybrid wavetrend oscillator and Fibonacci oscillator. Pictured to the left are the various indicators that represent incremental steps/advancements toward the development and eventual refinement of a hybrid wavetrend fib oscillator. Waves+...
Here's a chart that nicely illustrates how the 0.618 and 0.786 levels are frequently used as reversal points by the market. Price is ping-ponging back and forth between these key levels, and we can also see an almost full Volume Profile (parabolic in shape). The shape of this VP tells us that all the prices within this given range have been discovered, with the...
I am going through a book on Harmonics and Fibonacci ratios (The Harmonic Trader by Scott Carney), and I'm seeing for myself how these ratios can be used as key areas of reversal. I used to believe that day-to-day price action was random, but after looking at several charts for myself, I now reject my old belief and concede that price action is greatly tied to...
Seeking More information - When first introduced to markets, every beginner immediately thinks he must learn the rules of the market in order to succeed. He thinks he loses because he does not know enough. He initially believes there is a "holy grail" a system, a leader, or a mathematical equation like Fibonacci levels. He believes these will protect him in...
Let 1st 15m bar close 1st bar closed below Kijun-sen, + vol, oversold %R, Red Macd bar Wait for a 23%+ fib pullback retrace 2nd bar 38.2%+ pullback & closed below 38.2% level Enter on open of 3rd bar 3rd bar CLOSE confirmed bearish bias because Volume+, Oversold %R, Macd red bar You find your own SL and TP
It's been a quiet year, not for lack of attention, but either nothing material has changed, or the information hasn't been indicative. Short term - going down. Medium term - range bound. Long term - $13,000 will be the new floor. $13,000 USD has turned out to be a key level. It's a 1/3 FIb retracement off the ATH, and the current Fib. retracements off of $13K...
As you can see in the image, Bitcoin and Fib retracements are a very powerful combination. I personally only use 61.80% & 78.60% because this particular market is very volatile and prices tend to go down or up very fast. Always wait for 4H or Daily Closure and a good candlestick pattern like doji, tweezers tops, hammer. Remember that the most powerful Fibonacci...
I've been working on a a new way to use Fibonacci number derived ratios. In a nutshell, after calculating line 1.000 (top secret info right there, haha) in the chart above, I multiplied by 2.618 which gives us the upper purple line. Next step is to find the difference in price between lines 1.000 and 2.618. Difference is then multiplied by tenths (i.e. 0.1, 0.2,...
Bitmain Board Bomb this is Speculation Utter not Accusation. this is Disclaimer Replete any Assertion. this is Analysis of Events as Causation. Nothing More. Bitmain was Born with Bitcoin, it thrived in the Bubble. Bitmain has Lost much Money, it conspired in some Rubble. Bitmain has Lost its very Head, it has acquired Trouble. the Board is moving People and...