vitorherold

vitorherold

I was looking at the price reversal that happened on the 26... The fact that no clear resistance could be found got me thinking. What happened over there? The 2011 resistance was strong enough, breaking it with such volume should be a sign of a meltdown. I was wrong though. Funny enough, I think I discovered the reason. Fibonacci Retracement. To the pivot...

vitorherold

Now, the fall. (First target - 38%) There are two types of traders. Those that use fibonacci, and those that don't understand it. Why would you NOT use it? Look at that! Clear and simple, it just works, every day, on every market, always...

vitorherold

Another proof of this magic proportion. Gold did rise! But only til it reached the last (third) fibonacci target on the projection. I did a succesfull trade on this one, closed my position after hitting the target. Price started to melt. COME ON PEOPLE! Use the fib levels!!

vitorherold

Just to show how the rupture of trend lines often indicates a future reversal. In a 5min time frame this chart would look much better, but we can still notice it. If we see an anomaly both in regards to the trend line, volume contrary to the price, and or a specific candlestick, be aware of a trade opportunity.

vitorherold Updated 

Just a brief example of divergence on Gold Prices. RSI and MACD had it. Going up and down. Same thing.

vitorherold

As the trend is being confirmed, the price for GOLD/USD will face strong resistance around 2020-2030. This is confirmed by: 1 - Strong support on the past, now a resistance, located around 2025 2 - Fibonacci levels on the down trend channel, indicating another target around 2026. (I performed an analysis on this one yesterday) 3 - Fibonacci levels on todays...

vitorherold

Another proof, but now, of the fibonacci projection, based on the previous down trend channel. The top and the bottom on the channel are confirmed by the RSI, which then breaks into a up-trend, hitting precisely the first fibonacci target (38%) in a short time. By this indicator, if the trend continues, we can expect at least to reach the second target (50%) at...

vitorherold

Silly but simple proof that the Fibonacci Retracement is Reliable.

vitorherold

Just a brief analysis. BTCUSD was rising on an upward channel, breaking the trendline at 11954, aggressively. RSI was indicating weakness on the movement, which was confirmed with a strong bear resistance. Likely, as well, many buyers lost hope, and closed their positions after a "correction" with more than 50%, expecting a reversal of the trend, which made...