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618 Fibonacci Retracement

AMD, Another 0.618,2618, and inside day combination One month ago I posted this trade on TradingView and it became one of the most powerful education material for 2618 trade; This time the 2618 looks even more significant, and it could be another chance to long. Noted that whenever using inside bar as confirmation entry, a 1:1 1st kick of the inside bar itself is a MUST. So there are actually 2 trades possible: 1. inside bar breakout 2. 2618 entry right here. A higher winning percentage needs a larger room for the stock to run and means less position and longer duration; A great risk-reward ratio with smaller risk allows larger positions and faster result, while it could be stopped out more often. Both are meaningful but they are at the 2 sides of a scale, so find a good equilibrium and a most suitable way for yourself is more important.
NASDAQ:AMDLong
by Trader_Joe_Lee
CMG Potential double bottom, for risk lovers.In terms of fundamental analysis , even the most junior finance department student will suggest to avoid CMG 0.80% stock as its crazy P/E and looks like such a falling knife. While higher risk makes higher return , and it did give a potential long opportunity. In weekly chart, right here is the 0.618 retracement of the rally from 2008, and a daily double bottom is about to be formed. My game plan is to wait for the double bottom to be confirmed ( close above 323 on daily chart ), And put a buy limit at the 0.618 retracement of the neckline breakout. Let's see how it goes!!
NYSE:CMGLong
by Trader_Joe_Lee
2
EURNZD Short SetupHey guys, here we are in front of an hourly chart on EURNZD. I share this because i think it could be useful to others. As you can see there were two strong sell offs that created two impulive move to the downside, breaking two level of intraday structure. These two events give me the belief in a reversal, that was confirmed by price action in forming a pinbar+engulfing pattern right at the 618 up against a previous level of structure. Stops above the highs, targets as shown. If you have any question/idea, please share. Otherwise, see you in the next chart!
Short
by Roker1
8
Short setup on EURNZDHey guys, here we are in front of an hourly chart on EURNZD. I share this because i think it could be useful to others. As you can see there were two strong sell offs that created two impulive move to the downside, breaking two level of intraday structure. These two events give me the belief in a reversal, that was confirmed by price action in forming a pinbar+engulfing pattern right at the 618 up against a previous level of structure. Stops above the highs, targets as shown. If you have any question/idea, please share. Otherwise, see you in the next chart!
Short
by Roker1
4 Hour Bearish trend continuation tradePrice Action has created a new Lower Low increasing further to the down side. Now we have seen a relief move where price action has retraced back up to a previous support level looking left (around 0.72280) We also have a Fib confluence level (618) and a oversold signal on the RSI. Will be taking 2 positions Target 1 0.71400 retest of the lows (And even handed number) Target 2 0.7890 once target 1 is hit will move stops to break even and trail down to this level
Short
by LukeFagan