This is the first installment in my second section on Methods I use for finding Support and Resistance. I use a live trade example on FOREXCOM:EURAUD to show how the simple 50% Fibonacci level was all that was needed to find where the price would inflect. While I am aware and have studied the Fibonacci levels I find that just drawing 50% levels is all I need...
I've had a few of you guys asking me about how I determine my corrective/reversal points per fib, and since I had a great trader teach me the ropes on how fib moves, I thought I would do the same. Follow each colored arrow to its respective fib. These are typical fib patterns to see on retraces. The same happens in bear markets. Also, you will need to apply...
Quick tutorial video explaining how I measure the pullbacks during the day to understand normal behaviour of a trend when daytrading. This example was NQ Nasdaq on the 3 minute timeframe Using Stochastic and Fibonacci Retracement to understand these pullbacks. The Support and Resistance zones I mention are drawn on the 60minute timeframe. You can learn how I...
In this post, I'll be providing an in-depth explanation on Elliott Waves, specifically Impulse Waves and Corrective Waves. I personally use Elliott Waves a lot, and as it seems like the majority of my followers are beginner traders unfamiliar with the concept of waves, I decided to do an educational post on it. The concept of Elliott Wave Counts are extremely...
GBPUSD Demand Zones & Trading Range
Hi Traders, here is the full Video Updated Fibonacci Tool Lesson Please Press Like and follow!! Conditions - 1.Wait for confirmation Before Entry ( @ 61.8 or 38.2 ) ** Whichever is lined better with Structure** . 2.Use Market Environment + Market Structure for entry. 3. Trade always using correct risk management! If your not sure? Use a demo account ...
Traders, In this educational video, we see an example of predicting a Fibonacci confluence pattern (stepper M pattern ), planning our trades around it with entry and profit targets with high accuracy. This is indicator free analysis and I have used only standard fibonacci tool and a trend-line. Hope you will enjoy this and find this useful. Hit the like button...
Trendlines are the simplest chart pattern you can find, but they are some of the most widely used, and for good reason. They highlight a price trend going up, down, or sideways. Which therefore will be used for further analysis and other chart patterns, but what many people don't know are the specifics of trendlines. Firstly, widely-touched trendlines (about a...
.618 Fibonacci Retracement Most Popular Retracement Important retracement for a stock that is selling off after completing a good Rally. #BharatForge is a perfect example of .618 Bullish Retracement and its amazing to see how prices rallied after hitting .618 retracement Trade Consideration ( Refer Chart ) Point #1 : A good rally Point #2 : A sharp Sell-off Point...
NASDAQ:GOOGL be ready to grab some near demand & rest at accumulation zone.
NSE:CNXMETAL may reach 2200 levels in the coming days. There it might face resistance, from fib's 50% retracement level confluencing previous S&R levels.
COINBASE:BTCUSD might be putting a possible bull trap here. Looks like it is testing 50% retracement via bear flag.
NSE:SRF gave a breakout from its previous resistance. However, it is gonna face slight resistance near 3877. A close above which, can take the stock towards its All Time Highs.
TVC:SPX is at a critical resistance confluence now. Long holders may start to hedge their positions here.
ADDED LIMIT, let's SEE IF PRICE GOES TO TRIGGER IT
An idea regarding Fibonacci I believe the price within the arcs of the fibonacci circle move in waves With 1.618 being a bearish wave in this case, with a bullish transition to another ring. There seems to be a clear relationship between 1.618 and .618 its probably simple for someone more knowledgeable in this field which I am still learning. Explains on chart....
As per monthly charts NIFTY has to close above 10000 level to consider this as rally, otherwise it will treated as pull back retracement only.