RiverThink

RiverThink

Hello Traders! Welcome to my post, today we are looking at AUD/USD and we have identified the following confluences to support this high-probability setup: Price is approaching a major channel along with a counter-trendline that will act as support, we also have a major 78.6 Fibonacci retracement along with a -27.2 Fibonacci extension lining up together. All of...

RiverThink

Hello Traders! Welcome to my post, today we are looking at NZD/CAD and we have identified the following confluences to support this high-probability setup: -Approaching a major 61.8 and 38.2 Fibonacci retracement zone along with a trendline as resistance -End of channel resistance -Oversold conditions Stop Loss: 0.87500 Targets: 0.85000, 0.84000, 0.83000,...

RiverThink

Hello Traders! Welcome to my post, today we are looking at USD/CAD and we have identified the following confluences to support this high-probability setup: -Major trendline and counter-trendline intersecting to create a strong area of resistance in conjunction with a minor channel -Major 78.6 Fibonacci retracement and minor 161.8 Fibonacci extension as strong...

RiverThink

Hello Traders! Welcome to my post, today we are looking at GBP/USD and we have identified the following confluences to support this high-probability setup: A very significant Fibonacci zone, in this zone we have a major 38.2% and a minor 78.6% Fibonacci retracement. Major 138.2 Fibonacci extension, and a minor 2.272 and 1.272 Fibonacci extension all lining up in...

RiverThink

Hello Traders! Welcome to my post, today we are looking at USD/CAD and we have identified the following confluences to support this high-probability setup: -Major 61.8 Fibonacci retracement -Minor 50.0 Fibonacci retracement -Major counter-trendline -Bullish momentum Stop Loss: 1.30915 Targets: 1.32500, 1.33350 Risk to Reward Ratio: 2.75 Thank you for...

RiverThink

Hello Traders! Welcome to my post, today we are looking at USOil and we have identified the following confluences to support this high-probability setup: -Major 50.0% Fibonacci retracement -Minor 61.8% Fibonacci retracement -Minor 161.8% Fibonacci extension -Elliott Wave completion at the end of the channel Stop Loss: 60.70 Targets: 54.00, 53.00, 52.40 Risk to...

RiverThink

Hello Traders! Welcome to my post, today we are looking at AUD/USD and we have identified the following confluences to support this high-probability setup: -Strong reaction off of major Fibonacci, looking to enter on the continuation. -Strong bearish momentum, looking to enter at the 50.0% Fibonacci retracement -Target will be the -27.2 Fibonacci extension which...

RiverThink

Hello Traders! Welcome to my post, today we are looking at CAD/JPY and we have identified the following confluences to support this high-probability setup: - Major 61.8 Fibonacci retracement -Major 138.2 Fibonacci extension -Minor 138.2 Fibonacci extension -Major & minor channel support Stop Loss: 80.125 Targets: 82.000, 82.500, 83.250 Risk to Reward Ratio:...

RiverThink

Hello Traders! Welcome to my post, today we are looking at GBP/JPY and we have identified the following confluences to support this high-probability setup: -Major 78.6 Fibonacci retracement -Major 1.272 Fibonacci extension -Minor 2.272 Fibonacci extension -Trendline resistance Stop Loss: 144.250 Targets: 140.00, 138.00, 136.00, 135.00 Risk to Reward Ratio:...

RiverThink

Hello Traders! Welcome to my post, today we are looking at NZD/JPY and we have identified the following confluences to support this high-probability setup: -Major 61.8 Fibonacci retracement -Major 127.2 Fibonacci extension -Trendline and counter-trendline intersection -Channel resistance -Bearish divergence on H4 Stop Loss: 71.800 Targets: 69.00, 68.00, 67.00,...

RiverThink

Hello Traders! Welcome to my post, today we are looking at BITCOIN and we have identified the following confluences to support this high-probability setup: -Major 61.8 Fibonacci retracement -Previous structure support -Wedge pattern Stop Loss: 7942.75 Targets: 10000.00, 1115000 Risk to Reward Ratio: 5.3 Thank you for reading this idea, I hope you learned...

RiverThink

Hello Traders! Welcome to my post, today we are looking at EUR/USD and we have identified the following confluences to support this high-probability setup: -Major 78.6 Fibonacci retracement -Minor 227.2 Fibonacci extension -Price channel -Demand zone -Major counter-trendline Stop Loss: 1.09125 Targets: 1.10800 Risk to Reward Ratio: 4.15 Thank you for reading...

RiverThink

For this setup we have: -Daily Head and Shoulders Pattern -Major 61.8 Fibonacci retracement -Minor 161.8 Fibonacci retracement -Major trendline 3rd touch resistance -End of minor channel resistance -Minute Wave 2 completion of a Minor Wave 3 We will need to wait and see the reaction of the confluence zone identified near the 0.68000 price level, if the zone...

RiverThink

For this setup we have: -End of channel resistance -Minor channel mid-line resistance -Major 38.2 Fibonacci retracement -Minor 61.8 Fibonacci retracement -Minor 2.00 ABCD pattern projection SL: 119.400 TP1: 117.580 TP2: 117.080 TP3: 116.280 TP4: 115.850 Please feel free to send me a message in regards to any questions, feedback or suggestions that you may...

RiverThink

For this setup we have: -Supply zone -Trendline resistance -Major 50.0 Fibonacci retracement -Minor 61.8 Fibonacci retracement -Minor 161.8 Fibonacci extension -Bearish divergence Based on the technical setup that has been identified it makes a strong case EURCAD weakness, another key point of confluence for this setup is that Oil has found support at a...

RiverThink

For this setup we have: -Supply zone -Major 61.8 Fibonacci retracement -Major 161.8 Fibonacci extension lining up confirming the significance of the major 61.8 retracement -Elliott Wave ABC pattern projection -End of channel resistance As we approach this area of confluence, you have two scenarios (aggressive or conservative) in mind depending on your risk...

RiverThink

For this setup we have: -Major 38.2 Fibonacci retracement. -Minor 78.6 Fibonacci retracement lining up with the major Fib. -End of major & minor channel resistance. -ABCD pattern projection to complete at the end of both channels. -Major counter-trendline resistance. Either you want to be aggressive or conservative, both scenarios offer a good risk to reward...

RiverThink

For this setup we have: -Major 78.6 retracement -Elliott Wave ABC pattern completion respecting the channel -Bearish divergence -Surprisingly good Building Permits data for CAD (6.1% MoM, compared to 3.2% previous and a forecast of -1.0%) Entries may also be taken once there is a candlestick confirmation. Aggressive scenario SL: 1.33550 Conservative scenario...