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.
This Friday 13/07/2018 three of the main USA Banks are releasing quarterly results #JPM #C #WFC,
The Banking sector is experiencing positive fundamentals that have been driving the spike of their stocks in recent months:
1. USA Interest rate hikes: according to Bloomberg research, for each 1% that USA increases the interest rate level Banks like Bank of America ...
Interesting area of chart I have been watching for a while now. I will be looking for a bounce of the trend-line and/or consolidation around this area.
This can break ALL TIME HIGH. $ZEN will lead ALTS SEASON --- TAKE PROFITS AT FIB LEVELS (HOWEVER, if you think this will lead alts season, let it ride to price discovery)
Hello traders,
Jerome Powell is going to deliver his first testimony about monetary policy today at 16:00 GMT +2. Either today and tomorrow´s testimony in the senate are going to be crucial in order to catch more interest rate hike signs.
Currently EURUSD is facing a clearly bearish medium term trend, unable to clearly break the 1,1768 level, quoting below the ...
Entered this trade due the fib and the key level resistance.
At the moment I just don't believe that any bullish action will be short lived.
So I have entered.
I entered this trade yesterday but due to be having to go out and get ready to watch the England World Cup football match I didn't have time to update my profile with this trade.
However I am in the trade and entered in the middle of the fib zone after the CAD news broke to the downside only to retrace and reject the fib zone.
Do the the volatility of the ...
Yes Here we are again with the infamous GBPAUD.
to my eyes the technicals are still in line until we break and close above the 78 Fib level and or the key level.
If any of these are achieved then I will concede !!!!
Price has pulled back into the fib region.
A break of this will mean that this pair is now bullish. Until then I am bearish.
A very sneaky new high has been made what seems like an evening star formation could be forming right in the the middle of the fib region.
stops above the 78fib level and the key level .
I did say if price reaches this level again I would go short and with the daily close it closed to the T below my level after a very bullish day so i've decided to enter and real big stop for me
if price was to break and close the outside the triangle then i would have to reconsider my position,
What looks like a calculated risk has appeared.
The weekly candle hasn't closed yet so it's always risky taking a trade. However, I think price on this pair could rocket. Especially on Friday with all the news coming out.
I'm trying to escape the Friday madness (NFP) and taking this trade now. I'm sure I will be sitting in the trade for the next 3 days while ...
I can see that price has been bearish from the top at about 1.615€ ...
Now that price seems to have pulled back at 50% around 1.556€ at the beginning of last week.
Price actually ended up last Friday with a nice tail around 1.532€ at a nice support /resistance
Which tells me that price may be ready to go further down forming a nice XABCD pattern.
price has been ...
