Out of all the pairs, XLM seems to have the cleanest set up for the bias I still have, XRP has done bits this week which I was not expecting but I still dont think this is a parabolic bull run.
Another drop across the majority of cryptos abiding by this current fib retracement and hopefully the extension as well being a huge buying opportunity again.
If we keep...
Using the zones shown with the reasons ( 61.8 & 78.6 retracements ) for them being there shows why we have seen price push up to $0.28500 just now.
$0.29999 is a major prior resistance which I could see being tested one more time before a final drop to $0.17000 before we moon in January, hopefully 🤞
Bitcoin should bring down a majority of the market aiding this...
Depending on whether OMG rebounds from here, could be a double bottom or a longer slide down.
It must rebound with good volume to make a bottom more likely.
I am wary of the lack of massive buy volume of OMG at this level.
This could be a possible short term outcome for Bitcoin pre-halving and post halving. Please take into consideration that we could go lower into the $4,000 price range but if Bitcoin respects the fib lines at the low $5k level then we could be seeing the second higher low into the halving. I would be very excited to see this as the ultimate outcome but we all know...
Still targeting 240 level to watch for chance to take a long position. An extended flat A B C has C going beyond the ending point of A. Again, will watch price action in that zone for a position for Wave (C) up!
Gold is well known for its volatility as has been seen over the past few weeks, where we've seen it rocket up to the 1680 range due to investors rushing in with the threat of Coronavirus. However, they have since had a reality check and as a result gold has reached a channel. This channel is easy money whilst it holds.
As shown on the graph we have been seeing...
Hi Guys this is a quick lesson from today's live chart USDZAR. Most people are looking to short the Dollar today so in today's trading Room I looked at this particular chart and advised that you only open a trade once price has pushed lower and given a short trade set up. You'll see from the chart that it was tempting to open a short on a fib retracement and...
1) Price has retraced to the 38.2% fib level.
2) Price broke the down trend-line.
3) Price is above my 100 MA filter.
Wait for confirmation before entering market.
S&P 500 has hit a huge fibonacci level to go down lower. Coincidentally the other 3 major US indexes have hit a high to low 50 as well. The Nasdaq, Dow Jones, and Russel have also hit this level. There is a good chance this continues to the downside. In order for the markets to be bullish again the indexes would need to break above the 61.8 (red line) with strong...
Hey traders,
I am working on trading a lot right now as I have some extra free time. Work is slow, so trying to sharpen my skills. I am wondering about Fib Levels. I know the fib retracement tool above is really only for 'retracements' and there is no real way to predict these levels until the move is completed (ie no way to verify them on the way down). But if...
Hey traders,
I am working on trading a lot right now as I have some extra free time. Work is slow, so trying to sharpen my skills. I am wondering about Fib Levels. I know the fib retracement tool above is really only for 'retracements' and there is no real way to predict these levels until the move is completed (ie no way to verify them on the way down). But if...
Is #ZIL looking to bounce before reaching the 0.618 fib retracement? looks like its forming a falling wedge? is it? we will see if its in the pattern or the fib? either way will be fine right?
Hi All! My last prediction ended up being pretty close - I had said we would see sub 8k in 24 hours while we were at 9300. After 24 hours, we had made it to 8,200, and we pierced below 8k another couple hours later.
As we can see, the downtrend channel is acting as strong resistance. The fib levels have been acting as small bounces on the way down - But even...
Wait for a confident break below the EMA and supporting trend line + support level.
Keep an eye on the order books! Use numerous indicators in conjunction with one another along with a look at the volume. If we see a drastic shift in the buy vs. sell volume, it could be another sign of reversal!
