If the support level breaks we may see price go to the 127% of the 1st corrective swing and the 0.618 retracement of the entire move. This will attract bulls. I would expect to see some buyers here and it's good to trade off these deeper retracment levels as your risk is lower. Wait for the CHANGE-OF-TREND on the lower time frames to lower your riskl
I think we could see some profit taking today and tomorrow on this pair. We are almost at the 4300 level and the overlapping fib exten BITSTAMP:BTCUSD sion of the entire daily rise (swing) and the 1st corrective wave extension. I will be looking for shorts if I see a 1.2.3 pattern from this area and the swing low broken with the capitulation. Then I will trade...
We could find profit taking around the extention fib 127 of the first daily candle - this is a high risk trade I would wait to see something price action to Change the trend on the 4hr before taking the long. Then I would play it to the reverse fib.
We may see what DianK discribes as a bubble. Mean reversion tells me that this is likely if you look at the technicals.Proft take will occur around the Fib extension levels of the overall rise and the 1st corrective wave after the rise. I will be looking for shorts when I see a reverse fib occurs after price makes a LL compared to the last swing low on a lower...
I am looking for a retest of the Daily TL before more bulls move in and take this higher. Price has fibbed from the previous swing short. A profit extention of 127% overlapps with the TL - and 3 tests are usually seen before we see the trend resuming. This is a good low risk high reward setup.
I retest of the downward TL on the daily highs. The hourly chart tells the story of a bullish move to come.
ETC/USDT - price retraced to a 50% fib level and then the bears sent it down to a 50% of the first corrective wave after the swing. This is a perfect example of a great trade setup. Using my rules of mean reversion and confluence of Fib levels. On the daily chart I am looking for a 1hr entry point to enter the bullish move and mitigate my risk. This is a good...
OMG - this is a good set-up for long trades - looking for retracement level of 50% or mean reversion and a confluence of good support to enter long and looking for a HH. I will be looking for a candle pattern (reversal) or a 1-2-3 on hourly chart to mitigate my risk. Then I will take profit at the overlapping extention of the two swings. A good risk/reward trade.
I am looking for a short on this pair.A retracement has occurred after the steep fall and price has now retested the 0.382 three times and looks like it could head toward the profit target of the last corrective swing of 127%. Each fib level should see bulls trying to buy to push price up so make sure you are vigilant with your stop losses and move them to break...
Looking for a retracement of the last swing to 0.382 to take this trade and it is also the 200% extension of the 1st corrective wave after the swing. Role revversal of the swing low (see note) will play a part in the short from here .The GBP can sometimes retrace to 100%. In this case I think we have seen enough bears selling to join in the and short to the next...
After the rally on this pair I waited for a retracement to a 50% level of the last swing and a support level on the daily (orderflow). I placed a limit order in the event that price would come back to this level for a low risk entry. You can see on the 15min chart how this played out my Limit was set at 0.000050. Price came down and the bulls were evident by the...
The profit target of the AUD/USD on the daily chart has been met at 127.0% Extention of the fib of the 1st corrective wave. Often we miss this target and look at a larger swing. Mostly the 1st corrective wave is the one to measure. After a steep rise we will see price come back to a 50% retracement level before resuming the trend long. While my bias is bullish on...
Sometimes retracement levels won't have enough bulls to make a HH. This is what could happen on this chart. I prefer to wait for a perfect touch of a 0.382 rectracement before price returns to the trend. The confluence of support and the 382 retracement of the overall rise and the 2.618 profit take of the first swing after the correction is significant. Here we...
The 4hr chart could provide the key to what is shaping up to be a bullish flag pattern before the trend resumes. Price will need to touch the 0.382 for me to take this trade. If we see a 3 step pattern - price action confirming a reversal trend on the lower time frames ie; A higher high than the last swing from the this will confirm the trade for me. Also the...
Yesterday I was expecting a retracement to a higher fib level on the daily (50%) to assume the next step down to support. The 15min showed me a failed high from this zone and gave me permission to short with my stop just above the swing high -lowering my risk on a smaller time frame. The key is to wait for proof of your plan and watch for signs. I will move my...
I see a two step pattern down to a 0.382 of the last rise & an initial take profit target of 1.27 of the retracement = 2225/2229 (also overlapping fib levels). This is a good level of support. I am more comfortable taking a carry trade from the next level down once the 2 step pattern completes to the 3rd touch of the Daily TL - and the confluence of 1.618 profit...