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.
THIS IS NOT A TRADING ADVICE!!!
I tried to find correlation between BTCUSD and many other indices.
RED: USDCNY
PURPLE: EEMA Emerging Markets Asia index
GREEN: 1 / US10Y yield
The idea was tension on China may lead money flow to BTC, however USDCNY seems not to correlate. Asia is the leader for electronic payments and...
BTCUSD Potential Cup And Handle
Since Last X'mas, I Shared my Idea to buy from 3600
now BTCUSD has completed the CUP
Just be ready for the handle to be completed.
(It's good to buy from 6500 Level.)
and the next Target will be 14000
BTCUSD seems to be in a pullback phase of its second setup bull leg. The first bullish impulse leg got retraced around 85%, same retracement level applied to the current bullish leg lands us around $3200. Judging from the previous behaviour of this pair, if its historical dynamics are repeated, the ultimate demand area can be expected around $3500-$4500. If the...
I think that LTC has done a heck of a job appreciating against BTC the past year. Better than a lot of coins. I'm looking for Bitcoin to gain a little bit of strenght against LTC in the upcoming weeks but overall LTC is your horse!
GBPUSD Buy Set Up
Prince has Broken the Down Trend Line
and now it is retesting
0.618 level is support now and it is good to
Buy GBPUSD if price can't make a lower low
TP1: 1.2750
TP2: 1.2860
TP3: 1.2985
ETH is possibly on the 5th sub-wave (in red) of the 5th impulse wave down (in grey). Note that the position of the ends of the 5th waves are arbitrary.
It resembles the previous correction shown on the chart (in grey).
The previous wave 5 reached the 1:1 fib extension level.
Sub-wave 5 is currently being offered some support from the 0.5 fib extension level. If...
Part of my ongoing analysis of the Stock Market (see links below).
SPX bounced with vigor from the exact zone expected.
The bounce is clearly slowing while hitting resistances.
Expecting a "healthy correction" to recent vertical leg.
2900-2903 may well have been the top for now.
2931-2945 may be tested for end of Impulse wave.
2959-2964 can be a dangerous top...
Happy Friday Traders!
Today, we explore how Bitcoin has a strange love for Fibonacci and it's strong affinity for the 61.8% retracement level.
If this fractal holds up with this most recent downtrend, we could see a pull back to the $5100-$5300 level before deciding on it's next move..
I wrote about Bitcoin's love for Fibonacci before and the 61.8% trend...
EOS is resting just above a strong but critical Support.
Fib confluence at $6.06x has proven itself to be Solid.
But it must not be tested again, or it could crumble.
I will post updates as things progress either way.
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See some of my other plots and trade calls below.
I also plot Forex and Stocks, take a look at my profile page.
Currently in Play:
WAVES...
At the very beginning of 2018 we began covering Bitcoin price analysis on our YouTube channel. My approach to accumulation is Dollar Cost Averaging ( DCA ). I am a very big believer in the mental aspect of accumulation. This means that if I am utilizing DCA because I am extremely long on Bitcoin , I would like to DCA when the price is down - at least for short...
Silver is at a support zone right and has another one below.
Really ought to bounce a little here, or maybe even reverse?
NOTE: I do not know anything about this market, only charts.
My methods project support and resistance zones.
I do trade many assets based on this methodology.
Silver admittedly is not a market I follow or trade.
14.27 - 14.39 is immediate...
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