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Fibs

Facebook Potential ShortOk there seems to be a lot happening to back up a short. RSI Divergence Reversal candle Falling volume Previous support acting as resistance pushing down on price This setup has occurred several times in the past and every time it falls around 15% this would take us to the major trend line and 78.6% fibs. All in all this is looking like a good setup, wait for the price to break the lows of the doji or if your conservative wait for a break of the trend.
FShort
by SilverTrader925
USDJPY: Short Term ShortThere are two pinbars form on the 4H on the USDJPY at the 71.8 fib level. I believe price is still going to go higher, possibly 120.000. But for now, the price will retrace itself. The 2 pinbars are usually a great sign of a reversal. I would sell with a SL at 190.000. My target would be the previous support 116.000. If it breaks support, price will go lower. But I believe there is one more up move to test the trendline at the 78.6 fibs. After that we should have a higher chance of finding a good sell on USDJPY
Short
by AbdorhmanThi
CADCHF Short Entry at long-term 50% retracementCADCHF has retraced to a 50% retracement line that has held for almost two years, so there's a good probability that this line will once again provide resistance. If the 50% line fails, next potential short entry for me (on a daily time frame) would be at the red 61.8% retracement line. The not-very-clear pink arrow over to the left shows when these fibs were first drawn, at the start of 2015. The 0%, 61.8% and 50% lines have provided a few good longer-term entry points since then.
Short
by markyoung
USDCAD Long entry at FIb retracementThis four hour chart has a rolling Fibonacci pattern based on 8 hour bars overlaid - USDCAD has tracked nicely to 8 hour fibs in the past, often cycling between the 50% and -23.6% extensions of the most recent swing (highlighted by the arrow line). RSI in oversold territory with slight bullish divergence (RSI slightly up versus lower lowers in recent bars) Entry @ 1.32654 , initial target the yellow 50% retrace line @ 1.338, stop below -23.6% line
Long
by markyoung
NZDUSD cyclical movesNZDUSD has been cycling up and down from the 50% retrace of a June upswing, and is now in heading up again after finding support at 50%. Past price action shows a good probability of reaching the 0% line around 0.73 This current set of fibs was drawn July 7th using Weekly data and has highlighted a few tradeable entries over the past four months or so. This pattern remains valid until either -23.6% or 61.8% line is broken. The ZXY and DXY currency indexes are currently moving in opposite directions after reversing from recent support & resistance. I think this opposite movement - negative correlation - increases the chances of a profitable change, and at the very least gives a headsup if one of the currencies in the pair may work against the trade. A great entry would have been the point highlighted by arrows - all three charts lined up increasing likelihood of a profitable trade on the NZDUSD.
Long
by markyoung