Fibonacci was an Italian mathematician who came up with the Fibonacci numbers. They are extremely popular with technical analysts who trade the financial markets, since they can be applied to any timeframe. The most common kinds of Fibonacci levels are retracement levels and extension levels. Fibonacci retracement levels indicate levels to which the price could retrace before resuming the trend. It's a simple division of the vertical distance between a significant low and a significant high (or vice versa) into sections based on the key ratios of 23.6%, 38.2%, 50% and 61.8%.
Price tends to come back to these levels before continuing the predominant trend. Fibonacci extension levels indicate levels that the price could reach after an initial swing and retracement. TradingView has a smart drawing tool for Fibonacci retracements and one for Fibonacci extensions that allow users to visually identify these levels on a chart. Both tools are fully customizable and levels can be changed or added.
Basic fib clustering technique combining multiple timeframe trend analysis to get high accuracy entries with a larger R:R.
Using the current 4hr bullish trend to enter a long trade on the ent higher low, Fib & TL bounce.
I am aiming for the target trend fib -0.27 extension to maximise reward:risk ratio.
Alternative to yesterdays bearish scenario, watching for the bounce off 200ma 4h which we got, so now watching for invalidation of bullish run. If we drop below 7450 i will revert to yesterdays bearish chart to watch for validation/invalidations at each wave point
POSSIBLE PUSH UP FOR AUDJPY
- PRICE BROKE A DESCENDING CHANNEL LINE
- NICE REJECTION CANDLE FROM THE BROKEN CHANNEL AND TRENDLINE ON 4 HOUR CHART
- 61.8 FIB LEVEL ALSO SUPPORTING THE TRENDLINE AND BROKEN CHANNEL
2019 Cryptocurrency (Elliott Wave): Inflection Point
bitcointalk.org
From the 2018 bear market low set on 15-DEC-2018, the Bitcoin bull market has gained 340% into the high of 26-JUN-2019. Since then, the largest pullback of the 2019 bull market has been underway, thus far a 35% decline heading into...
Possible right shoulder forming on the inverse H&S pattern on AUDUSD.
Looking to target new higher highs on this timeframe. Bearish TL was broken last week.
HEAD AND SHOULDERS... (FOR NEXT WEEK)
- COMPLETION OF H&S PATTERN AND THEN WE MAY SEE PRICE FALL AND BREAK 1.32900 LEVEL
- RIGHT SHOULDER TO PRINT ON 1.33200 LEVEL
- 61.8 FIB LEVEL LINES UP PERFECTLY WITH THE 1.33200 LEVEL TO SELL
- PREVIOUS H&S PATTERN ALSO PRINTED IN EXACTLY SAME AREA
GA short currently running in profit, however thought to post it's current progress.
Second TP at descending channel is the overall goal, however the pound could be regaining some strength in these current weeks.
What leads me to believe this is GBPUSD's approach to 1.200. From what I understand, a drop below this level would mean bad news for the pound and it...
It looks like XRP is due to move upwards, to reclaim the horrific time it has had over 2019.
If you are looking to buy use BTC, this could get interesting if this does start to reclaim some of those losses.
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