Nesta and I were throwing some projections on to gold, backtesting something we had looked at with the upward trend lines because I have noticed when I drop the trend lines on, the angles seem to follow some very fibonacci-esque ratios. So we decided to backtest with the pitchfan and see what we saw. Very interesting stuff.
Fib traders look for the ''natural rhythm'' of a market. But where exactly to place the ends can be subjective. I make it more objective by wiggling until price tells me. Sometimes the Highest High to Lowest Low is NOT best. Sometimes there are long wicks so hard to place one end. Sometimes momentum will take price further than it ''should'' While drawing the...
The wonders of Fibs This is USDJPY on FXCM . Left pane is Weekly chart going back to 2012. Right panels are zoomed in views of the circled areas. The Fib in left pane was drawn from the first impulse in first Quarter 2012. Each of the fib extensions shown becomes relevant later. Check the 4.0 Extension at 110.025. Not 110.000, not 100.000 but 110.025...
I realise it's easy to state after the fact, but BCH has produced a clear example of fibonacci entry and first target hit. I just missed my entry as I noticed this a little late, highlighting the difference between trading and TA. However, its impossible to miss the confluence with the entry, RSI moving above 30, divergence appearing on the EWO and the entry at...
The Lucas Number sequence from 0-123 is the main topic of this post as it accurately predicted tops and bottoms of 2017 bull run with a very high level of accuracy. Periods of consolidation can also be predicted with halfway points between levels and then beyond incorporating those halfway points. Lucas Number sequence prime N of Lucas Number prime Lucas Number...
Helloow fellow gamblers! I was looking at Fibs at a deeper level. The more I learn about them, the more obsessed I get with them. Now Fibs r my #1 trading tool. Most of u r already using Fib retracements. This chart shows that Fib extensions can also be very useful. I created them from Nov 8 2017 drop. Fib lines that did not control key levels r removed. This...
Fibonacci traders try to grasp the ''pulse'' or ''bandwidth'' of the waves in a movement. I noticed the above just goofing around, and wanted to put it out there before I forgot about it. Will update with more thoughts and examples of Fibs once this crash is over :)
Where you start and end the fib trace (0-1) is critical There will be ''obvious'' points that mostly work fine. But often the NON-obvious points fit BETTER.
#tron $trx #tron 15min chart analysis: (Short-term analysis) Bullish bias: If we break above 875- Wave 5 Target: 895-905, Bearish bias: If Double top support at 840 is broken with confirmation. Target for ABC correction: 800-810sats. #Crypto $crypto #cryptocurrency www.tradingview.com
Ticker: COINBASE:LTCUSD Timeframe: 1D/2-3 years Quick LTC long term theory more for me to reference back to. Will also dabble with a long term bear theory even though it scares the living piss out of me. Short Term: Slightly Bearish Mid Term: Neutral Long Term: Bullish Af Current Market Sentiment: Tired of the FUD, Skiddish Bear
I think ont will goes down to the area 0.00070-0.00075 and after that the next rally begins. my target prices are 0.00179 btc and 0.00209 btc. can ont do that? we will see the next week. P:86 Entry area: 0.00070-0.00075 btc TP1 : 0.00179 btc TP2 : 0.00201 btc Can ont do that?
As the weekly chart shows we have correction to 7800$ where it matches to fibo level of 61.8% and a pullback from previous resistance line. It is better to have the correction this week not later, due to small distance from resistance line. P: 9050$ TP: 7800$
STEP 1 - Once the 1 wave is completed use Fib Retracement to find out the possible wave 2 level. Usually wave 2 is 0.5 - 0.8 of wave 1. In a uptrend Fib level is close to 0.8 but its the opposite on downtrend STEP 2- Once the wave 2 is completed use Fib Extension to find out the possible wave 3 level. Usually wave 3 is 1.618 of wave 1 or 2.618 of wave 2. STEP...
Using pivots, Fibonacci and trend lines. Blue boxes are zones. If the price breaks any of the zones, I predict the price to go on that direction once there is confirmation on the hourly chart e.g. engulfing candle. Currently, box has broken for a downtrend. This is just a test and in the future will add in targets and stop losses (but the blue box zones can be an...
Occasionally I will be slapping together a commentary about the days action on my favorite index and making a point to pickout the best entry of the day. This does not mean I take these entries. I simply point them out. These posts will be short simple and insightful. Notice the daily is bearish. We know better than to hold onto long positions. Over the...
How to trade the ABCD pattern This is an example of a bullish ABCD pattern. Ideally, Point C should be Fibonacci retracement between 61.8% to 78.6% of the A-B leg. Point D should be a Fibonacci extension between 127% to 161.8% of the B-C leg. Stop loss should be below D or previous low. Take profit can be at the 38.2% and 61.8% Fibonacci retracement of the C-D leg.
DISCLAIMER - Your money is not in danger but guaranteed to disappear if you follow my trades. These ideas and trades are mostly for my personal use as a journal, but I try to provide as much value as possible to the community Cypher patterns supposedly have 80% completion ratio. This one worked flawlessly X - recent bottom A - recent top B - must touch 0.382...
DISCLAIMER - Your money is not in danger but guaranteed to disappear if you follow my trades. These ideas and trades are mostly for my personal use as a journal, but I try to provide as much value as possible to the community Cypher patterns supposedly have 80% completion ratio. This one worked flawlessly X - recent bottom A - recent top B - must touch 0.382...