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618 Fibonacci Retracement

LENDUSDT | BULL-FLAG | .618 Fibonacci | Trade Setup Todays Analysis – LENDUSDT – Breaching its bear-flag neckline looking for a trend continuation. Points to consider: - Support Confluence (higher low) - Bull-flag (trend continuation) - 55 EMA (visual guide) - Increasing Volume - RSI above 50 - Stochastics overbought LEND held local support, in confluence with .618 Fibonacci retracement upon retest of the key level, establishing a higher low, further solidifying the importance of the level S/R flip of the bull flag neckline further establishes a bullish bias in the market. The 55 EMA will act as dynamic support and a visual guide, assisting in trade management. An increase in bull volume nodes is present; further influx of volume will be essential for price action follow-through. RSI has broken above 50 showing increasing strength in the market, ranging above 50 will maintain the bullish bias. Stochastics reaching oversold conditions and may remain there for some time. Overall, in my opinion, A long trade is validated to the technical target above with risk defined below .618 Fibonacci retracement. What are your thoughts? If you’ve read this far - thank you for following my work! And as always, Focus on you, and the money will too!
LLong
by Kudiiee
1
AUD/NZD Bears In Control?Good day, snipers. Here in the AUD/NZD, we are about to retest the minor resistance zone formed in lower and higher time frames. This zone was also considered as the 61.8 Fib level, where I expect movements to the downside. RSI also shows it is in overbought territory. I will be looking for a bearish confirmation before going short. If price makes a higher high, I am out of this trade, that's why stop loss is quite tight. Follow me on tradingview for more ideas and sniper entries. If you liked this idea please click that thumb's up. Ideas posted are not financial advise, but merely just to give insights and education for traders. Past performances do not determine future gains. As sniper traders, we tread carefully, then we take shots immediately. Join the discussion down below.
Short
by SniperFXFree
USDCADAfter an impulsive week on this pair we still believe that the USDCAD is bullish, based on the analysis we have seen the pair created a left shoulder and its on its way to creating a right shoulder , the right shoulder should be completed on the support area and that falls in line with the Fibonacci retracement 61.8%. I will only take the trade if i see a candlestick rejection of the support area alongside other confirmations. Confirmations would be : 1 - Rejection of the support area 2 - Right shoulder complete to for ma head and shoulder pattern. 3 - Rejection of the fib level 61.8% - 78.6% (the support area is between those levels) 4 - Candlestick rejection (Pinbar or a doji)
Long
by reliancefx_
USDMXN | WEEKLY PERSPECTIVE (FOLLOW UP PLAN)It is worthy to state that the Peso continues to ride high on the back of a weaker US dollar. Following my last publication (see link below) on this pair; we have found a complete retracement of AB leg which culminates at 61.8 with a strong tendency to make an extension within 127.2 and 141.4. Tendency: Downtrend ( Bearish ) Structure: Harmonic (AB = CD) Observation: i. A complete 61.8 retracement of Impulse AB leads the way to a potential Harmonic move as we eye the AB = CD pattern in the following week(s). ii. A further Breakdown of my Key level at this juncture might confirm my Bearish view on this pair. iii. AB = CD pattern as price rallies from a 618 retracement; a. Impulse A-to-B is expected to be in harmony with the potential B-to-C leg. b. The B- to-C leg is at 61.8% Fibonacci retracement of the A-to-B leg. c. The potential C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move. Trading plan: SELL confirmation with a minimum potential profit of 7,000 pips. Risk/Reward: 1:2 Potential Duration: 2 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
USDJPY | WEEKLY PERSPECTIVEIt was all Bears for the US Dollar especially during the latter part of last week as it continues to lose value against multiple currencies and the Yen was not left out in the gains! Breakdown of my Key level @ 107.300 last week evolved into a structure similar to AB = CD pattern with an expectation of correcting into 107.300 in anticipation of a down rally in the following week(s) seems feasible. Tendency: Downtrend ( Bearish ) Structure: Breakout | Harmonic (AB = CD)| Support & Resistance Observation: i. The fall of the USD since the beginning of last month (June 2020) appears to continue as it Breaks down my Key level once again. ii. ABCD pattern a. Impulse A-to-B in harmony with the potential B-to-C leg. b. The B- to-C leg is at 61.8% Fibonacci retracement of the A-to-B leg. c. The C-to-D leg falls at 1.414% Fib. ext. of the A-to-B move. iii. Expecting a possible correction into my Key level zone before downtrend continuation in the following week(s). Trading plan: SELL confirmation with a minimum potential profit of 250 pips. Risk/Reward: 1:3 Potential Duration: 2 to 8 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
SHORT EURCAD | WEEKLY FORECASTTendency: Downtrend ( Bearish ) Structure: Channel | Support & Resistance | Harmonic (AB = CD) Observation: i. Trading Channel occurs as parallel trendlines connect price's Support and Resistance levels within 1.54300 and 1.50500 range. ii. Channel emphasizes the sideways movement in the market. iii . A Breakdown of 1.52200 from 61.8 retracements at point C might confirm temporary Downtrend continuation to complete AB=CD pattern. iii . It is worthy to mention that at this juncture, we might be looking forward to a Harmonic pattern as price rallies from a 618 retracement ; a. Impulse A-to-B expected to be in harmony with the potential B-to-C leg. b. The B- to-C leg is at 61.8% Fibonacci retracement of the A-to-B leg. c. The potential C-to-D leg is expected to fall at 127.2 - 1.6184% Fib. ext. of the A-to-B move. Trading plan: SELL confirmation with a minimum potential profit of 160 pips. Risk/Reward: 1:2 Potential Duration: 1 to 3 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by Nirvana Trades & Investments for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
IOSTUSDT | S/R Flip | Volume Climax | .618 Fibonacci Todays analysis - IOSTUSDT – retracing after a strong breakthrough structural resistance. Points to consider: - S/R flip Re-test - Support confluence - 55 EMA – visual guide - Volume climax - Oscillators overextended IOST is likely to retrace back to structural resistance after a bullish pattern break, S/R flip needs to hold for a valid long trade. Structural support in confluence with .618 Fibonacci retracement further solidifies the true trade location. IOST trading above the 55 Exponential Moving Average, acting as a visual guide, price must hold on retest to support the bullish bias. Volume climax evident, indication of buyer exhaustion, temporary top may be in as price finds its equilibrium before another probable impulse move. Both, the RSI and Stochastics trading in overextended conditions, a retrace in price will allow oscillators to cool off, creating space for further bullish momentum. Overall, in my opinion, a long trade is validated on a successful S/R flip re-test. What are your thoughts? Let me know in the comments below! Be sure to leave a like and follow me for daily chart updates. As always - focus on you, and the money will too!
Long
by Kudiiee
ZIL BTC | Trend Reversal | Flow | Key Fibonacci LevelsTodays analysis – ZILBTC – trading in a possible descending channel, currently testing local support. Points to consider: - Flow in the market/price action - Respecting key Fibonacci levels - Resistance Confluence - Trend Reversal - Low Volume - RSI below 50 ZILBTCs healthy counter-trend and strong continuation adds legitimacy to the money flow. The previous swing-low respecting .618 Fibonacci retracement is indicative of a current retrace to .618 Fibonacci level. The .618 Fibonacci level also coincides with descending channel resistance. A rejection at this level will solidify a trend reversal with a lower swing high. An increase in volume is necessary to add legitimacy in the overall market. RSI attempting to recover from oversold conditions. A countertrend will neutralise and prime the oscillator for a trend continuation. Overall, in my opinion, a short trade is validated at the rejection of the resistance confluence with a technical target of local support. Entering the trade at resistance confluence consents immediate trade invalidation (price trading beyond resistance zone), mitigating overall risk. What are your thoughts? Let me know in the comments below! Be sure to leave a like and follow me for daily chart updates. As always, focus on you - and the money will too!
Short
by Kudiiee
4
GBPJPY SHORT CONTINUATION OUTLOOKAfter a sell-off seen today on GJ, I believe that another short opportunity may arise if we climb up to the range provided on the chart. I believe price could retrace back to the 135.500-135.800 institutional levels, which lines up perfectLy with the 0.62-0.79 fibonacci retracement, as seen on the chart. This could happen during the Asian session, and then potentially fall into yesterday's lows, during tomorrow's London/New York session. -uzzaam17
Short
by uzzaam17
EURCAD 4hr bullish butterfly and 0.618 combination longEURCAD is the typical butterfly pattern that I'll be interested in. Most of the time, a butterfly pattern may mean a new low has taken place, which may be contradict with the current trend. While, if it can hit the previous 0.618 or structure at the entry of the butterfly, that makes it a much better trade! Here we got this 1.4925 spot to wait for reversal sign to long, before it gets there I'll be bearish. If it gets there and gives an hourly reversal sign, I'll be taking that long! Let's see how it goes yo!
Long
by Trader_Joe_Lee
XTZUSDT Macro Levels| Declining Volume|.618 Fibonacci ResistanceEvening Traders, Today’s Technical Analysis – XTZUSDT – a break out is imminent as volume continues to decline; key structural levels are likely to be tested. Points to consider, - Trend bullish (consecutive higher lows) - Trend line support holding true - Current resistance .618 Fibonacci - RSI above 50 - Stochastics projecting down - Declining volume XTZUSDT’s trend has been putting in consecutive higher lows, now trading in a range between two important levels, monthly resistance and daily support. The current trend line support is holding true, a higher low projection will be at play until the trend line has been breached. Immediate resistance, the .618 Fibonacci is to be breached for a test of monthly resistance; price has been rejected multiple times. The RSI breaking below 50 will negate any bullish bias in the market. The stochastics are projecting down, this a sign of momentum shifting. XTZUSDT’s volume is clearly declining, an indication of an influx in volume being imminent as key structural levels get tested. Overall, in my opinion, XTZUSDT is approaching a key technical level where a break will be imminent. A long trade will be valid above monthly resistance. Breaking below daily support will validate a short trade. The break needs to be backed with increasing volume; this will help avoid fake outs. What are your thoughts? Please leave a like and comment, And remember, “This lack of support is not simply an absence of encouragement. It can be as deep as the outright denial of some particular way in which we want to express ourselves.” ― Mark Douglas
by AzizKhanZamani