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.
The structure of new landscapes is always unknown at first. But if you've ever been hiking, you know there are characteristics that never change. Maybe there's a path in the woods, a consistent slope, or the sound of water. You might look behind and think, "I know so much about where I was, but how do I move forward without the same knowledge of this new ...
I mean, for all I know, Arthur picked $50K because it was a round number and major psychological barrier. Nonetheless, I see a ton of people saying "it's impossible". Those people either weren't around last year, forgot we pumped $10k in 10 days, or are just regurgitating meme-laden bullshit from discord and may very well be retarded. Either way, $50K is totally ...
If the price is able to complete the CD leg and reach the Sell Zone during the euro session, this could be a decent setup to go for a short.
However, do be aware of the after-effect from Trump's comment about the dollar being too strong, which might cause the dollar to weaken further.
You can swing trade even without Elliott Waves using commonly known algo targets.
Trading algos don't care about Elliott Waves, they can only detect swings and use common fib relationships for entry/exit points.
Usually algos are written to defend 50% and 61.8-65% retracements of the prev swing and then use -23.6% and -61.8% as their conservative targets for ...
GBPUSD broke 3 weeks consolidation and its retraced to the consolidation zone. we can target 1.61 level as target for the rejection . its a 200 pip target trade
Last week Crude Oil sentiment was a bearish one. Looking at the chart, we can expect a continuation of bearish sentiment going into next week. Perhaps on the latter part of the week, we could reach demand level; Therefore we expect price to push back to $73 in the following week.
Have a great weekend, folks!
Cheers!
You don't want to take position right now. We have two choices it will break the Support and change the trend from Bullish to Bearish. Or it will go up and break the Resistance and hit the target. But the uptrend is clearly losing strenght.
Aurora is reaching a nice extension from the previous bullish swing and is currently oversold on multiple smaller timeframes. The Stochastic has already crossed bullish at the bottom and bears are exausted.
A minor move to raise the weekly close may be seen today. If not, I will update new targets. The RSI hasn't been low very often this year so a bounce is not ...
#Monero his on its way to create a false break down as the coin pushed below the trend line support before racing higher and it is about to close above the trend line. The coin is in a triangle which is narrowing and a break in either direction is going to happen soon. Bears thought they are in control as they managed to push the price down, however, it raced ...
