Fibonacci was an Italian mathematician who came up with the Fibonacci numbers. They are extremely popular with technical analysts who trade the financial markets, since they can be applied to any timeframe. The most common kinds of Fibonacci levels are retracement levels and extension levels. Fibonacci retracement levels indicate levels to which the price could retrace before resuming the trend. It's a simple division of the vertical distance between a significant low and a significant high (or vice versa) into sections based on the key ratios of 23.6%, 38.2%, 50% and 61.8%.
Price tends to come back to these levels before continuing the predominant trend. Fibonacci extension levels indicate levels that the price could reach after an initial swing and retracement. TradingView has a smart drawing tool for Fibonacci retracements and one for Fibonacci extensions that allow users to visually identify these levels on a chart. Both tools are fully customizable and levels can be changed or added.
ETH/USD and BTC/USD are currently inside similar channels on the 1 day chart, almost freefalling down the channel at times.
The edges of the channel have been prime shorting zones for approximately the past 6 months, the Fibonacci lines been good to take profits & reset the trade.
Ethereum could be back at the 10% of Bitcoin mark in this case.
If these parallel ...
Good day Traders
The H&S is still playing out from my previous post with a stunted 38.2 fib retracement to print the right shoulder, although I still expect another wave up to complete it. The downward sloping flag from my previous post seems to have turned into a right-angled broadening wedge as we found support at the same level as 13 Jan. Yesterday's drop ...
Break of key level
1.13813 support price for a preveus consolidation zone.
1)break of zone
2)lower low created
3)pullback to fib pint 0.382
4)H&A formation in confluence with both fib and price zone.
Risk to reward ration 4.86
Hi, I expect wave 3 up soon if BTC remains relatively stable.
We are on ema supports and have completed a 1 structure up and a retrace. Next is up for 3 to 22% gains.
Hello have a nice start of week,
This is my eurusd daily chart analysis looking for 1.150 level.
This is educational analysis if the analysis match with your rules follow it!
When the trade is 30 pips profit put sl at breakeven.
Didn't receive the reversal I wanted however price played very well within the ranges and a beautiful rejection off the 618
Price is currently in a critical zone with two rejections off of a powerful support however I still see momentum going in the opposite direction so I'm hoping to see a buy opportunity come up soon You can see where I place the alert
If ...
entry at 270s zone and will re enter at 190. all with 5 dollars per share stop loss. Target passing 400.....Do you see the gap at the very bottom 40ish area?
$TRAN Transener venía transcurriendo dentro de un canal alcista que arranca en el mínimo que hizo en julio. Luego de haber trepado un 37,6% en 16 ruedas, desde el piso de dicho canal, quebrando la LT bajista que se origina en el máximo histórico de principios de febrero de 2018, se empieza a notar un cierto agotamiento en el volumen. En caso que llegue a reconocer ...
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