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.
I like to analyse the Weekly time frame to give me a perspective on when I am forming my Bias.
The Bias is still bullish and it simply looks like a minor correction of the previous rise and we are looking at making a higher high.
If price closes above 11380 then 13448 (overlapping fib areas) well then we may see a double top at the All Time High.
Price action will ...
Bitcoin is setting up a perfect bat harmonic pattern at an area of high resistance.
After breaking the 6,800, BTC is now touching the bottom of an important trend line (in black) that is drawn along all reaction lows from 5.4k (Nov ’17) to 6k (Feb ’18) to the lows in early April.
This trend line was broken in early June and this whole move up is a re-test of ...
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EURUSD has made selling opportunity with trendline breakout support with break the fibo range as well.
Force of downside movement is very strong at this moment. Will look for any reentry of sell position and never open buy position.
1st position could be placed right after this candle close of wait for the retest.
2nd position can wait at first trendline ...
Bitcoin has shown some strength in the recent days, but it also has no reason to go up, except for a Short Squeeze. Why wouldn't I call it a reversal yet? Cuz we still need to cross previous resistances (as high as 10k) to say we're in bullish territories. Also, the strength if the green candles is quickly sizzling off, and the bears are probably just resting for ...
Target 1 hit - channel break measured move
Target 2 - next key price level
Target 3 - measured move from previous range break - coincides with 0.236 fibonacci retracement
Wait for break below 0.382 - supported on lower time frames
Supported fundamental analysis - rising dollar
We Broke Trend Structure and currently in a downtrend GBPJPY
This potential setup of about 150-180 pips are we are at around the 61.8% fib level @ 147.800-147-550 area
TP1 - 147.000
TP2 - 146.500
TP3 - 146.000
I believe we have one more upward impulse wave left before a correction.
Price action has been very bullish in the past few days.
I believe it was the 3rd wave of the upward impule.
The bullish momentum has been strong so I suppose price will find support at 0.236 or 0.382 Fibonacci retracement levels.
Price had retraced at this range(yellow circled area) when it ...
We had bearish patterns
1.Falling wedge Dec2017-April2018
2. Channel Down May2018-Jully2018
Both bearish movement are part of bubble pattern phase (Almost 7Months)
&
Wonderful news is this bubble pattern is finished after touching $5835 and performed triple bottom pattern .
So 100% bullish wave BTC need to break out 7804 as bullish confirmation line and if ...
This daily chart of AMT presents a good opportunity to get long ahead of a breakout higher. The stock looks to be in Wave 4 of an impulsive move that began back in 2016. Wave 3 extended to the 161.8% Fibonacci extension of Wave 1 and clearly divides into five smaller waves. We're now looking for the ongoing triangle in Wave 4 (blue) to complete somewhere in the ...
PBOC Reference Rate was big surprise.
Risk off mode engaged by the markets.
Looking for two TP's, the 1.618 and 2.618 extensions of the initial impulse down.
GBPJPY pair has recently broken a support level of Fibonacci Retracement 50%. It is currently testing support at the level of 61.8% as shown in the chart. In case it broke the line of 61.8% then there is a big opportunity to keep on falling, but for a short term as the BOE is announcing interest rate decision in August. It is expected that the BOE will raise the ...
![BTCUSD: [BTC] Waiting for a correction](https://s3.tradingview.com/0/0DP5z0Rp_mid.webp "[BTC] Waiting for a correction")
