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.
Hello traders,
I hope trading goes well.
Well, it's been sometime since I made video analysis, so after looking at some old charts I came up with an idea to update you on some of the FX market since December video analysis.
Also, I see some very interesting developments on EURUSD at the moment. I really think it's worth to keep an eye on it.
Please, if you...
Pattern is completed at 79.20s, if we find a bearish signal at the zone we'll be short targeting marked levels.
Waiting for your comments and likes. Good luck.
CURRENTLY IN CORRECTIVE PHASE FROM THAT BEARISH IMPULSE
THERE IS ALSO RSI DIVERGENCE
IDEALLY PRICE SHOULD CREATE NEXT IMPULSE ONCE IT BREAKS AND CLOSES BELOW THE TRENDLINE
Target based on 1.618 on Fib Extension + previous structure
Chikun was leading the way for most of Crypto-wide bounce.
Lately it seems to be lagging and lethargic over the last week.
Such a strong wave up needs to retrace to build 'safe' trend.
I see 3 disctinct Impulses and subsequent waves.
Elliott would call it a 12345 (1,3,5 being up 2,4 down)
Others have called it a "3-drives pattern" for decades.
Impulse 1 lost...
We are in the end of this bear trend, but we will fall a little bit more one more time.
Be prepared to the fast fall!
If you are longing with leverage, don't forget to set your stops to prevent liquidations.
In my opinion, in the next weeks, we will fall to USD 2750, maybe with a leg touching the USD 2400 or something like that, and then Bitcoin we will rise up...
VFF big upper wick and profit taking with three bounces from the low of day, lose that level tomorrow we'll be looking for a healthy daily higher low. We've already pulled back 10% from the top of the move, we could still pull back 40% and be very healthy on the weekly chart. The triple bottom on the hourly chart makes it clear the bulls are defending the low of...
Volatility in either direction is lacking because markets don't know what is fully thrusting them forward right now. Something like the Shanghai Composite is much easier because its more based on speculative appetite than fundamentals. Even if you're a bear though, we have at least about 1 or 1.5 percent more until we hit a level of resistance below the record...
Comments by opposition leader Jeremy Corbyn, hinting that a referendum could take place while also supporting the case of an election, coupled with Junker’s statement that he warned May against extension beyond May 23 appear to be fanning the flames on May’s already fragile position.
The overall sentiment is that the EU is hardening its stance against the UK, as...
Dear community,
I will kick this week off with a long idea on USDCAD. As I believe the price is currently forming a wave IV and eventually break out, starting a final wave V within the cycle.
As per the moment I am opening a long trade. The price is sitting within a perfect Fibonacci retracement level, which makes it, given the Elliot Wave count as I believe...
USOIL
Oil reached Fib 0.5 level and long position target 59.34 yesterday, then seems confront downward pressure by offset position comes out.
In daily trading, oil may need time and space to recharge momentum to challenge $59 in the future, therefore, consider to short at 58.80 for short-term consolidation...
The big triangle for BITMEX:XBTUSD is still in play.
Short at .786 big descending fibo it's a bulletproof level atm. No surpass north since 30th of december 2017.
Tp at .382 big descending fibo.
Subentries/tp levels marked with ascending fibos. Use on your own risk, they are not...
Primary Trade Setup
My analyzes are far away, but they are low risk businesses and, potentially, higher profits. If gold reaches this area, it would be a 61% retracement. The trends have to end and that's where we look for the price action.
Secondary Trade Setup
If the price decides to fall already, then it would be respecting 31% of fibonacci which is also a...
FX:USDCAD
Hi guys
Today wave 2, which shaped as a simple Zigzag finished to formed itself and chart just touched Golden ratio of the wave 1 and had started to develop 3 wave. I wrote proportions between waves in correction and mark Reversal Fibo Cluster above in the chart. Approx target of the wave 3 is 1.37000
Secondary confirmation reversal signals: 1. RSI...
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