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.
2018 Cryptocurrency Crash (Elliott Wave): #ShortSeptember
Speculative autumn roadmap: https://i.imgur.com/9jUhjXK.png
After declining 30% from the high of 24-JUL to the low 14-AUG, the Bitcoin market has now rallied approx 25% into the 31-AUG CME futures last trade date.
Typically, the rally ought retrace a Fibonacci 50% to 61.8% of the previous downtrend (i.e. ...
EURUSD Sideway and rejected by 0.618 level
After EURUSD hit 1.1910, price couldn't
make higher high any more
and what we can see is equal highs that rejected
from 1.1815 the 0.618 level.
Therefore Short EURUSD now , SL above 1.1905
TP1: 1.1662
TP2: 1.1450
Good Luck
USDCAD has seen bearish movement, we need it to pullback to the fib level of 0.5 and then we can expect it to head back down to 1.29, we have our daily resistance at 1.32 and 1.28.
EUR/USD could have finished its retracement after a series of bearish momentum. The 61.8 fibonacci level seems to be holding up as price has rejected it on the H4 a couple of times. You can see a doji and spinning top on the H1 which suggests uncertainty around this level and potential reversal to the downside as PA seems to be exhausted around 1.1655. Price has ...
GBP/AUD is seeing a much anticipated retracement after melting out of a series of consolidation ranges that kept price action in between since mid June. Subsequently this pair has created a new lower low before initiating this correction that is taking place which seems to be coming to a halt as we can see a bearish divergence on the H1. RSI illustrates that price ...
AUD/USD has been in a downtrend since the start of the month when it rejected the major resistance level of 0.7440 and has shown a retracement to the 61.8 fibonacci level and since forming lower highs as shown using the inner trend line. It has respected the 20 moving average on the H1 which has acted as a dynamic resistance and subsequently we see price action ...
SBUX has previously shown many trading patterns such as head and shoulders and flags. Currently, the stock is in an upward flag, but also on the middle of two Fibonacci levels. The blue line represents short-term resistance if the stock breaks that I believe it will stay in this Fibonacci level with enough time to hold until the next resistance line. This upward ...
USD/JPY Bullish Wolfe Wave
This analysis focuses on a potential bullish trend breakout and
subsequent bullish trend continuation. Looking at price action
we can see that the bullish support trend line from March to
August, 2018, is still intact - however, as is always the case
with trend lines it depends on where you connect the points,
thus, it is always ...
USD/JPY bull trend by keeping the market above the 112.50.
USD/JPY is trading above all simple moving averages (SMA) which confirming the bullish trend. The market is also trading above the bull trendline, if bull run remains above 112.50 the next objective is 113.18, July high. However failure to break above the July high (113.18) this can lead to a reversal ...
GBP/USD reached a very crucial and decisive level this week
despite giving back 'almost' all it's gains on Friday.
The 1.3299 high of Thursday hit the bottom of the primary
support trend line formed in January, 2017. This could be
seen as a case of support to resistance, however, if you look
at the yellow highlighted area on the chart you will notice
that ...
I like how after the pump then sell off on big volume to the 0.618 fib there is a second leg up. Bids set on this retracement would have given a good gain. Look for more of these set ups?
Inditex is facing a great bullish momentum:
Fundamental:
After the downgrade of Morgan Stanley -17%, they have reported solid quarterly results reaching USD 12 Bn of revenue for the first time, remaining its clothing leadership.
Technical:
-Spanish equities negative momentum was sending Inditex downwards, however IBEX 35 is back again above 9.200 level ...
GBP/AUD could see a bearish reversal as price seems to have rejected the daily resistance level of 1.8185 and as a result forming a dragonfly doji on the H4. Along with the early hours of today where price failed to break this key area of resistance yet again.
There is bearish RSI divergence occurring on the H4 which suggests the strong bullish momentum could be ...
The goal here is to track events leading up a possible trade, not an immediate entry.
Some bullish thoughts:
Major daily support level
Likely bullish divergence on 4H chance (pending next candle close)
BTC shorts around ATH
BTC shorts looking like a possible double top
2 times Fibonacci extension from a recent swing low -> high
At lower Bollinger Band and ...
