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Fibonnaci

Bullish Engulfing Candle at the 300WMA or another Bear Pennant? Price held with a small but steady bounce right at the 300W MA---a support many Market Markers have been eyeing since the 200W MA was broken in BTCUSD. ETH showed an even stronger interaction with the 300W MA support. As well, we see a Bullish Engulfing Candle at the bounce, which has also appeared in BTCUSD, signalling a reversal. This is a promising signal for Bulls, however, will the volume hold up? We already see volume declining, indicating this may be a false signal printed by the daily candles. We can see a possible continuation of the Bear Pennant playing out between the 0.765 and 0.618 Fibonacci Bollinger Bands. The strongest fib levels tend to be 0.618, 0.5, and 0.382. With the 0.618 becoming resistance (previously playing support (follow the green arrows on chart)), and above that the 0.5 band (which played resistance in the previous pennant (follow the yellow arrows on chart)), as well as the 50 Day MA (which has played resistance too (follow the yellow line on chart)), we’ll need significant volume to confirm a reversal. Bear pennants indicate price will continue in trend, so when price breaks above the upper trend line of the pennant/flag formation this typically signals a break in the pattern. A trader may place a stop order at a price in the break-out zone, however, I warn against being caught out in a head fake here for the three reasons mentioned above: 1. Low Volume does not signal a proper reversal at the break, 2. Price is currently trading between the 0.764 and 0.618 levels, with 0.618 being a common level for price to interact with, 3. The 50D MA has rejected the price twice, and trend lines are typically checked at least three times before diminishing their influence. We don’t know if the 50D MA just happens to coincide with the previous two price rejections, but its correlation should not be considered lightly coming into its third check, especially if volume doesn’t peak around that time. IN SUMMARY: I would not advise trying to catch a break above the pennant as you might be caught out by a head fake. The 300W MA did not show a confident rejection, which stands to reason it will be tested again.
COINBASE:ETHUSD
by MiserableToppings
4
BTC key area for big short 40.3k fib levels and previous demand Multiple Fibonacci retracements pulled with confluence on the .786 and 0.618 .66 where previous heavy demand was before big move down also low volume node and .382 lining up with eachother Going to be looking for a short at 39k / 40k area let me know what you think, I will market buy when we see the reaction, if retest and rejected then short, if we break through and backtest as support I will long. will post targets later on fib extensions.
BYBIT:BTCUSD.P
by moneyflow369
1
SPY possible bounce to the 38.2% fib before the last wave downIf SPY starts to get a bounce on the daily, then it could see resistance near the 428 area at the 38.2% retrace of the last leg down. Price is getting somewhat extended from the 21ema, and am expecting a correction in time or price in the near term... I see this current Elliott Wave scenario as possibly being in the C wave down of a correction that started after the 01/04/22 highs. C waves must have a 5 wave structure. Once a bounce starts, it could be the 4th wave, and 4th waves typically retrace the 3rd wave by about 38.2% (most common). I will be watching for possible short entries in the 428 area, with fib and elliott wave targets from 406.75 down to 393.38.
AMEX:SPYShort
by FourC
BEARISH SETUP ON FTM 30/04/2022 !!!!!!!!!!!!Crypto is struggling to break through key areas to flip the sentiment to bullish. I follow what I can see on the charts and not the noise (hype) on platforms such as twitter and YouTube. (seeing is believing) Bearish conditions means bearish confluences and we saw this on FTM a couple of days ago, we had break of support and retest on the 25/04/2022 Bearish Rectangle formed Increase in Bearish Volume Rejection off the 50EMA Rallie Candle at Resistance of Range on 1H Using the Fib Extension tool from a local swing high - swing low - end of rallie, we ended up taking 15% from this trade (no leverage)
FShort
by LuxTradeVenture
12
GREEN METAVERSE TOKEN new star with high potential 🚀🐋🚀As I mentioned in my previous analysis and the price has started to gain and hit our targets and gain +300 percent profit 🐳💣🐋 and now it can pump from here or after brief correction to the downside we can see more gain 🚀 this coin has wonderful potential and fundamental sign for gain 📖 and soon we will have ATH new targets 🚀 Please, feel free to ask your question, write it in the comments below, and I will answer.🐋
Long
by MadWhale
4
Elliott Wave Theory - Motive WavesElliott Wave Theory , developed by Ralph Nelson Elliott, proposes that the seemingly chaotic behaviour of the different financial markets isn’t actually chaotic. In fact the markets moves in predictable, repetitive cycles or waves and can be measured and forecast using Fibonacci numbers. The very basics of Elliott Wave Theory ; The Elliott wave principle at its core consists of motive waves, movement in the direction of the larger trend, and corrective waves, any correction against the main trend. Market prices alternate between a motive phase, and a corrective phase on all time scales of trend. Wave analysis offers insights into trend dynamics and helps you understand price movements in a much deeper way and offers the trader a level of anticipation and/or prediction when searching for trading opportunities Motive Waves Motive waves in general can be categorized as Impulse and Diagonal waves a- Impulse Waves Impulse waves consist of five sub-waves in the same direction as the trend of one larger degree. Elliott proposed that financial price trends, the waves, are created by investor psychology or sentiment and the waves can be measured and forecast using Fibonacci numbers . In adition to using fibonacci retracments and extetion to forcast probable targets, channeling technique is also presented, where channeling technique is used to forecast wave formations and targets using price action . Disclaimer: besides the rules, the below presented figures displays guidelines that elliott waves may form. Guidelines are tendencies, not set in stone rules b- Diagonal Waves (Wedges) Another form of motive waves are diagonals, they appear in the beginning of a larger trend, called leading diagonal and at the end of the larger trend, called ending diagonal They are five-wave structures in the direction of the main trend within which wave 4 almost always moves into the price territory of (overlaps) wave 1, breaking the rule of impulse motive wave Diagonals take a wedge shape within two converging lines Elliott was careful to note that these patterns do not provide any kind of certainty about future price movement, but rather, serve in helping to order the probabilities for future market action. They can be used in conjunction with other forms of technical and fundamental analysis, including technical indicators, to identify specific opportunities. Technical Indicators Using various technical indicators among elliott wave practitioners is not so common, except few, probably the common one used is a kind of momentum indicator, such as RSI or MACD , to detect divergencies Fibonacci retracement and extension drawing tools are essential for elliott wave practitioners. In todays computerized era many of the darawing tool's auto indicator versions are availabe on the trading platforms, such as Auto Fib ( where and how tp apply ) Elliott Wave Oscillator ( EWO ) , is inspired by the Elliott Wave principle and helps counting the waves Volume and Volume Profile ( Vol / Vol Profile ) combined with price action is esential in technical anlaysis and for elliott wave practitioners helps to identify impulse and correction phases Other indicators that are referred among elliott wave practitioners Pitchforks ( how to apply ), Pitchfans , FibFans ( how to apply ), FibChannels ( how to apply ), FibTime , LinReg Channel ( what it is ), Raff Regression Channel ( what it is ), etc
Education
by dgtrd
37
ETH USD - Bearish trend continuationThe bearish trend has a high potential to continue after the latest rally. This will be the third time we came back to the .236 retracement from the top Continuing to follow the down trend both overall and the recent steeper decline Note: Each of the fib retracements measure from the high to each of the three stops along the way during the downtrend, they all keep popping back up to the .236 retracement and then continuing descent. The .236 retracement gets larger each time from the top as we descend. It got some help as well from the 20 day bearish simple moving average at 2800. Targets 2390, 2200 (for double bottom). In the event we don't stop at 2200, the greater trend is broken and we are looking at 2000, 1852.... or 1700 - May the odds be ever in your favour
COINBASE:ETHUSDShort
by Inaugural
Artificial Intelligent Insurance Upstart Holdings Leading artificial intelligence (AI) lending platform designed to improve access to affordable credit while reducing the risk and costs of lending for our bank partners. Our platform uses sophisticated machine learning models to more accurately identify risk and approve more applicants than traditional, credit-score-based lending models. They are considered a financial insurance company. Since its IPO back in December 2020, it has had a 1400% gain. We are currently at 3 levels of support : Horizontal support Uptrend support 61.8% Fibonacci retracement line **** $VIX is at 28 as I write this, so I advise smaller positions to be able to handle more volatility. ****
NASDAQ:UPSTLong
by dorfmanmaster
1
MATIC Short Exit, potnetial long entry.Exited short position on MATIC at 2.12 having entered at 2.28 Because it touched the .618 fibonacci and bounced perfectly, this shows strength. It then broken out of the down trend, but failed to hold that. It fell back and broke out again which is where I exited shortly after. BTC dominance is still looking poor. I like the MATIC long entry at the .618 fib. so $2.04 would seem a nice entry to add to the long position. Depending on BTC trhis could drop further to the next fibonnaci level. Although the $2 level will be respected hard. Frustratingly I had a limit buy order set at 2.035 that didn't get filled. I am still short BTC and BTT.
M
by cheliosTD
1
BTC, Possible Short term LONG chance !BTC is more than likely going to show us another move up ! Large one? Not probably. It seems Bitcoin is ready to start final up going leg to complete a 5 wave cycle. This 5 wave cycle maybe just wave C of an larger degree ABC form of flat correction which I published before. Related link is provided for those who are interested to check out. Strong support shown on the chart is formed by cluster of Fibonnaci levels of different types and cycles around 56-57 K. If true final up going leg will terminate at proposed strong resistance zone formed by typical Fibonnaci levels of wave 5 termination. Interesting point is that proposed resistance zone coincides with resistance zone predicted for larger degree waves which makes it even stronger ( Check out related idea if interested). Stochastic indicator is reaching to oversold zone while price is reaching to support. Amazing setup! I have to emphasize that we never go long without a bullish sign in proposed supports. In case of bullish reaction to suppor t we can choose our entrance strategy from : 1- Bullish reversal in smaller time frame like H1 2. Breaking the down trend line connecting wave 3 and B highs 3. Taking out labeled wave B It is your choice to choose an entrance strategy among proposed ones. It is a matter of Risk and Profit management. Good luck everyone.
BITSTAMP:BTCUSD
by SaeedSajedi
2
fibonacci retracement reach 50% and touch 38% a bullish sign nowFibonacci retracement reach 50% and touch the 38% put stop loss below .236% 52502.66 take profit at 1.618 59581.54 if you make money from this TA feel free to support, follow, share and like. DYOR not a financial advise. i am not a financial adviser. LET US MAKE SOME MONEY! weekly timeframe bullish. yesterday was a retracement now bulls are back. all the best! cheers! leave your thoughts below what you think about it. I long 20x
Long
by pogi1234
FIGS, On the way to 70 USD! Who wants to miss the chance?FIGS is going to bring us a considerable profit !. How much? lets follow the idea. FIGS reacted nicely to strong support (34.13 USD) formed by two different types of Fibonacci after an abc form of correction shown on the chart. A considerable up ward move started after the mentioned correction which seems to be the wave 1 of a new 5 leg up going wave. After that, price retraced 61.8 % of the last move. This minor decline maybe the wave 2 of the up going wave cycle. If true, the golden wave 3 move has recently been started. Mentioned up going wave cycle which is itself a wave 3 of a larger cycle Elliott wave can push the price at least up to around 70 USD. It is worth to note the broken down trend line acted well and nicely as strong support twice which suggests this dynamic support is a strong and valid one. please note the beautiful bullish reversal in stochastic indicator exactly at the support. Amazing one ! Like always , despite of all these bullish signs we have to trade objectively. So we set our stop loss carefully in the case of opening a long position. Long trade: opening price : Current prices Mid term target: 70 Stop loss : 39 Reward to Risk : around 8 ! Good luck every one and wish you considerable profits.
NYSE:FIGSLong
by SaeedSajedi
4
TIGR, Possible huge mid term profit! Not a difficult decission!Is TIGR going to start a new motive wave to make a new ATH? Of course possible. General trend of TIGR is UP . TIGR has completed waves 1,2, 3 and possibly just 4 of a large cycle Elliott wave and is starting a new up going wave to make a new ATH to complete wave 5 of this Elliott cycle. Price currently has retraced back 0.786 of its last rally from 4.3 to 38.5 USD. Strong support has been formed around 11-12 USD consisting of pre-mentioned 0.786 retracement of last motive wave and some Fibonacci levels of internal structure of down going wave C of an ABC form of correction. All these descriptions are shown on the chart. Stochastic indicator in both weekly and daily time frames is in oversold zone which suggests the forming low may be the last low for several weeks. If true, Price goes high up to 46 USD which brings us around 250 % profit . Therefore if you are a patient trader you can hold your shares to reach to the mentioned target and enjoy your trade. Besides all these bullish signs market may choose another path for TIGR, So like always we are objective and trade based on facts. It means we set our stop loss carefully in the case of opening a long position. We enjoy our trading . Don't we?
NASDAQ:TIGRLong
by SaeedSajedi
9