Fibonacci retracements and extensions are popular tools used in technical analysis to identify potential support, resistance, and reversal levels in GBP/USD (British Pound/US Dollar) trading. Here's how traders can utilize Fibonacci retracements and extensions effectively: **Fibonacci Retracements:** 1. **Identify the Trend:** Before applying Fibonacci...
It is moving in an ascending channel at time h4. With the breaking of the previous major ceiling, it is placed in a density which, if supported in the green box range, will have the ability to exit the density for the specified target and resistance. Otherwise, it will touch the previous floor. 🟩Sup: 0.2930 ⛳️Tp 1:0.34 ⛳️ Tp2 :0.3540 |...
Current Corn Short Entered originally, and admittedly prematurely, when we saw price touch the 61.8% fib retracement level. Entered a short position last month as price has been steadily falling since June last year. The falling price of corn is being caused by simply an overabundance of supply, and a lack of increased demand. On the supply side, we have...
AUDUSD Short Late/Re-entry Price has come back down to the last swing low/base made before what was essentially a two week bull run. We have broken past this area and come back to retest it. When price came back to retest this key zone, we saw it touch the 61.8% fib retracement level. Non-Commercial traders, as can be seen through COT filings, are a majority...
This post will go over 3 wave degrees for $OANDA:XAUUSD. Primary (4h) Intermediate (1h) Minor (30 mins) Primary Degree: Wave 1 came to an end just below the December 2023 high of 2088, meaning we are likely entering a wave 2 of a 5 wave impulse. This can be seen on the image below where: The diagonal trendline links the high of 2148 till the high of March 1st...
This post will go over 3 wave degrees for $OANDA:XAUUSD. Primary (4h) Intermediate (1h) Minor (30 mins) Primary Degree: Wave 1 came to an end just below the December 2023 high of 2088, meaning we are likely entering a wave 2 of a 5 wave impulse. This can be seen on the image below where: The diagonal trendline links the high of 2148 till...
Anything's possible when you're working with a finite asset in a world where: Inflation is constantly rising and multiple fiat currencies continue to fail. New sources for rare earth elements and precious metals are constantly being discovered. The overall output of society continues to rise. This is a (very) rough estimate based on Elliot Wave Principle...
Overview In the last couple months my attitude towards crypto has gone from swing trading it to just holding it, especially with the much anticipated Bitcoin halving event approaching next month. In the past, strong crypto bull rallies occurred within the months following the halving events which leads me to believe that our favorite cryptocurrencies could be...
Overview My first two publications on this idea were removed and I was banned for a day so let's try this out again: ... I finally gave in and started looking into NASDAQ:NVDA and I'm glad I did. If I was going to comfortably invest in derivatives or shares of the tech company, I needed to perform a full evaluation and determine pragmatic price targets. ...
Let us try to learn today a dual way of determining a top of the current rally through two methods. The first method used here is Fibonacci retracement. 1) Fibonacci Retracement of Nifty to understand important supports and resistances. What we did here was that we took the past significant peak and valley. Through these points we did a Fibonacci retracement...
On ETH, we can see that the price has entered a very strong resistance zone, which could potentially mark the final move of wave 3, and then it would be worth seeing a downward move as waves 4. We have set a possible recovery level around $3,000, but it is likely that the price will return to the zone marked below, which would result in a drop of around 30%,...
FX:XAUUSD is breaking through strong resistance and testing the 2050 area, favorably influenced by the fundamental background from Thursday. The market is trying to move into a bullish phase, but globally the price is held back by a huge sideways flat. Idea from 29.02: GOLD → Consolidation is narrowing. The calm before the storm On H4 we see the price...
We got a bearish trend change for EC. Now looking for trend continuation to take a short trade. We got the 50% retracement and price coming into the fair value gap (this is a must for my system!)- then we look for a bearish trend change on 15min and ATTACK! The 50% retracement and FVG are in line with previous support turned resistance- thus adding another...
OANDA:NZDUSD is trading inside the descending price channel. A new downward movement is formed on the background of the growing dollar index, the pair is testing the support, the breakthrough of which can give a strong impulse. A descending triangle is forming on W1, which indicates the weakness of the New Zealand dollar. The price cannot break through the...
FX:XAUUSD is holding strong, yesterday's economic news also supported the price. The price of metal forms numerous retests of resistance, as well as forms a pre-breakdown consolidation. The complexity of the situation is that we have a very narrow range and within this range the market maker will gain liquidity by any means, but sometimes there are...
FX:USDCHF has been in consolidation phase for a long time on the background of a bullish trend, which is formed in the wake of strengthening of the dollar index. There are preconditions that the growth may continue. Today traders are expecting the US GDP, which will be released at 13:30 GMT. In general, expectations are negative, analysts expect GDP to...
Hello everyone, let's take a look at the BTC to USDT chart on a one hour time frame. As you can see, the price dynamically broke down from the local upward trend line. After unfolding the Trend Based Fib Extension saitka, there is strong support at the level of $60,463, and further support is visible at the level of $58,440. Looking the other way, you can see...
Reason: Market structure is bullish Break of structure Fair value gap