A Fib circle that captures top and bottoms from 2013 ATH to 2018
Green circles are very good matches, orange ones all occur before major dumps and yellow is a nearby match
Green is for Fib circle match and blue for Fib fan match
Hello fellow gamblers and traders,
As you can see in the above charts, the Fib circle matches several important historical points. The next circle is not very far away from us. Considering the current trend. It has a good chance to predict the next reversal point. In my previous chart, I showed a potential bottoming dates. I also referenced another TA that predicted June 6th as the likely bottoming date. The Fib circle give us price range of 5600 to 5900 for June 6th. This range is also near Willy Woo's target of 5500-5700 as I wrote in my previous updates. In the 2014 fractal TA, Fib extension 1.414 is at 5612.
Most of the circles in 2018 matche the tops of which 2 are important tops. So let's consider a bullish view as well. We are now inside a giant triangle. If we continue consolidating inside this triangle, the next circle might predict the next top where it crosses triangle top around 8600 on June 16th. I have shown potential targets on the interactive chart.
In addition to the circle, we have the Fib fan which has controlled key points since ATH. Price has been moving in the direction of one of the Fib lines in recent days.
PS:
Please don't take this as a trade advice. Make your own conclusions based in what you see. For my trades, I consider more than lines and circles and give updates based on the state of the market.
I kept my promise and made this chart as simple and quickly as possible. I spent several hours to find the best matching Fib circle and Fib fan. Moving the circle by only a bar ruins most historic matches. This chart together with my previous chart are going to be reference charts for me for at least two months. I hope you find them useful as well and if you do, please don't forget to like.
My next chart will combine the last three TAs. Be prepared to see a lot of lines in my next chart. The Fib circle, FIb fan, Fib extensions, and Gann squares all in one.
As always, thank you for your support.
/:D
Green is for Fib circle match and blue for Fib fan match
Hello fellow gamblers and traders,
As you can see in the above charts, the Fib circle matches several important historical points. The next circle is not very far away from us. Considering the current trend. It has a good chance to predict the next reversal point. In my previous chart, I showed a potential bottoming dates. I also referenced another TA that predicted June 6th as the likely bottoming date. The Fib circle give us price range of 5600 to 5900 for June 6th. This range is also near Willy Woo's target of 5500-5700 as I wrote in my previous updates. In the 2014 fractal TA, Fib extension 1.414 is at 5612.
Most of the circles in 2018 matche the tops of which 2 are important tops. So let's consider a bullish view as well. We are now inside a giant triangle. If we continue consolidating inside this triangle, the next circle might predict the next top where it crosses triangle top around 8600 on June 16th. I have shown potential targets on the interactive chart.
In addition to the circle, we have the Fib fan which has controlled key points since ATH. Price has been moving in the direction of one of the Fib lines in recent days.
PS:
Please don't take this as a trade advice. Make your own conclusions based in what you see. For my trades, I consider more than lines and circles and give updates based on the state of the market.
I kept my promise and made this chart as simple and quickly as possible. I spent several hours to find the best matching Fib circle and Fib fan. Moving the circle by only a bar ruins most historic matches. This chart together with my previous chart are going to be reference charts for me for at least two months. I hope you find them useful as well and if you do, please don't forget to like.
My next chart will combine the last three TAs. Be prepared to see a lot of lines in my next chart. The Fib circle, FIb fan, Fib extensions, and Gann squares all in one.
As always, thank you for your support.
/:D
Comment:
We are close to the weekly candle close. It's an important candle and we might see some action before or after closing it. I have an alternative set of Fib circle/fan. We are near an important circle now which can imply that decision time is near. My friend @d14b0ll0s wrote an a very interesting comment:
"What's interesting in terms of timing is that the last day or two of each month and the first day or two of the new one see some violent price action, not necessarily against the trend or agreeing with it, but apparently something to make charting the 'proper' monthly candle possible. This month the last day happens to have a crossover of the ground of the channel on which we're currently sloping downwards and the bottom of the triangle with support -- this might be worth considering as another of your possible 'points of contact'." see the red circle in the chart.
"What's interesting in terms of timing is that the last day or two of each month and the first day or two of the new one see some violent price action, not necessarily against the trend or agreeing with it, but apparently something to make charting the 'proper' monthly candle possible. This month the last day happens to have a crossover of the ground of the channel on which we're currently sloping downwards and the bottom of the triangle with support -- this might be worth considering as another of your possible 'points of contact'." see the red circle in the chart.
Comment:
A sneak peek of the compiled upcoming chart.
A Fib fan, a Gann angle, a life & death triangle's base, a monthly candle open, Feb low and Apr 12 candles' open all meet in one red circle. And they meet at an important time, monthly candle close. Can such a strong support break when the RSI is oversold?
A Fib fan, a Gann angle, a life & death triangle's base, a monthly candle open, Feb low and Apr 12 candles' open all meet in one red circle. And they meet at an important time, monthly candle close. Can such a strong support break when the RSI is oversold?
Comment:
One of the 3 targets on the chart has been hit.
(shorts are going up. There will be a short squeeze. Bulls might let it build up for a week or two before squeezing them. In that case, we will see another Apr 12. If they squeeze it now, the rally will be short-lived.)
(shorts are going up. There will be a short squeeze. Bulls might let it build up for a week or two before squeezing them. In that case, we will see another Apr 12. If they squeeze it now, the rally will be short-lived.)
My reply: "First place a Fib circle. Center it on a major or minor high or low. Align the 61.8% and 100% with other key points. If you don't get good matches, you can change the trend line until you get good matches on other Fib ratios."
I'd be glad to see your discoveries :D