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Fibonacci

GOLD → NFP may release price from consolidationFX:XAUUSD declines to 2615 and forms a false breakdown. Traders are confused as they wait for NFP and are not preparing for premature action yet, waiting for economic data... The dollar is having some trouble indicating it is ready to enter a deeper correction phase, but now it all depends on NFP and the Fed. Metal is still squeezed inside the 2660 - 2615 flat. A false break of the support forms a pullback to the liquidity sides If the NFP is below the expected 200K, the gold may go up, as it will indicate the continued cooling of the US labor market and encourage the Fed to cut rates further. But, strong NFP data could put pressure on the decision to pause the Fed's interest rate cut cycle, which could put negative pressure on the metal.... Resistance levels: 2655, 2660 Support levels: 2636, 2605 Technically, the NFP may influence the price to leave the channel, which may be accompanied by a strong impulse. The price direction depends on the immediate actual employment data.... A break of resistance will trigger a rise to 2690 A break of support will trigger a fall to 2580 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
11
What is Bitcoin ‘Pairs Trading’? (Example: ETH/BTC)This is for anybody who wants to sell some Bitcoin but is still bullish crypto. 🚀 It’s also if you’re neutral on crypto but think Bitcoin is overvalued vs other tokens. It’s also just if you’re just interested to see a way to apply a pairs trading strategy . In case you’ve been hiding under a rock, Bitcoin just broke over $100k - No more waiting for the HODLRS!! Naturally after hitting this massive milestone, some traders are going to be thinking about taking profits. And if they’re thinking it, some of them are going to be doing it. But let’s forget about selling for a moment, are you really buying more BTC when it just hit $100k and it's up ~150% this year? So even if there is not more active selling interest, there’s probably less buying interest. I think you’d be mad (or very brave) to bet against Bitcoin. BUT Are these scenarios possible? Bitcoin trades sideways for a while after hitting $100k Alt season kicks in and other cryptos play catchup If you think yes to at least one of these, my team and me have been looking at a pairs trade What is pairs trading? Pairs trading in crypto is a market-neutral trading strategy that involves taking a long position in one cryptocurrency and a short position in another, based on the assumption that their historical price relationship will revert to the mean. The point is to profit from the relative price movement between the two assets, i.e. not the absolute ups or downs of one asset like Bitcoin. ETH/BTC I put this crypto pair this way around - I’m not sure if you’re meant to - it just kind of reminds me of EUR/USD in forex trading. So as a reminder, ETH/BTC is Ethereum’s token Ether priced in Bitcoin. When Ether outperforms Bitcoin it goes up and when Ether underperforms Bitcoin, it goes down. So it doesn’t actually matter if Bitcoin goes up, down or sideways, if you’re trading ETH/BTC - what matters is what one does relative to the other. Well this thing has been going down a lot! Until recently. Going back to the idea of pairs trading - the thesis here is that the Ethererum/Bitcoin price ratio has dropped to bargain levels and could be about to recover. I’m not going to lie to you - there are a lot of sore hands out there from trying to catch this falling knife! But this rebound off the 61.8% Fibonacci retracement of the 2020-21 rally has caught our attention. Dropping to the daily chart, can you see how 0.4000 has acted like a magnet to the price both from above and below? 0.4 is our line in the sand for long positions. Equally, our risk is well defined in this setup. A drop back under the 61.8% Fib level around 0.32 means the idea isn’t working and it's time to get out and let Bitcoin do its thing! How to trade it Specific entries and exits depend on your personal risk tolerance, but broadly there are THREE methods here: 1. Crypto-to-Crypto Spot Trading Trade ETH directly for BTC (or vice versa) on a cryptocurrency exchange. This is straightforward and involves holding the actual assets. 2. CFD Trading (Contracts for Difference) Speculate on ETH/BTC price movements using CFDs without owning the underlying cryptocurrencies. This allows for leverage and the ability to short-sell. 3. Spread Trading Buy ETH and simultaneously short BTC (or vice versa) with equal dollar value to profit from their relative price movement while minimizing exposure to overall market trends. But that’s just how we are seeing things? Do you think this is bananas, or could we be onto something? Please let us know in the comments Cheers! Jasper. Chief Market Analyst, Trading Writers
Education
by jasperlawler
GBPUSD → Channel breakout. Attempt to change the trendFX:GBPUSD finds an opportunity to grow. A breakout of the local trend resistance is forming amid the dollar correction. Zones of interest: 1.300 The retest of the intermediate bottom ends with reversal candlestick patterns and market reversal structure. The big question is: How long will it last? It all depends on the dollar. The US market received negative jobless claims data yesterday, which may also affect the NFP, which will be released later today. A worse-than-expected data will intensify the dollar correction, pointing to the problems in the economy (against what Powell said recently). In such a scenario, forex currencies may get a chance for a small rally. Technically, a channel breakout is a good signal that could turn into a strong momentum, but apparently traders are not in a hurry yet.... Resistance levels: 1.284, 1.300 Support levels: 1.272, 1.261, 1.2488 Accordingly, if a false breakout of resistance is formed and the price falls beyond 1.272, then we should expect a decline to 1.24. But at the moment there are positive signs to gain from 1.275 to 1.300 in the medium term. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;) Regards R. Linda!
Long
by RLinda
8
Mainly short gold, but there is still an opportunity to go long.Bros, since gold has chosen to break down and fall below the short-term support of 2620, it is obvious that the gold bears have a slight advantage in the struggle. So in trading, we mainly focus on shorting gold. The current short-term resistance area has shifted to the 2630-2635 area, so in short-term trading, we can short gold with the 2630-2635 resistance area; But on the other hand, even if gold continues to fall, it is difficult to completely reverse into a short trend before today's NFP market, which limits the downside to a certain extent. The support area below is in the 2610-2600 area; so once gold falls back to this area, I will still try to go long on gold again; but we need to be careful that once gold falls below 2600, it is likely to continue to fall to around 2580. Trading strategy: 1. Short gold with 2630-2635 area as resistance; 2. Try to long gold with 2610-2600 area as support (only try once) 3. It should be noted that once gold effectively falls below 2600, it is very likely that gold will continue to fall to 2580 area Bros, how are you going to trade gold? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
OANDA:XAUUSDShort
by Trader_Marvin
NQ Power Range Report with FIB Ext - 12/6/2024 SessionCME_MINI:NQZ2024 - PR High: 21458.50 - PR Low: 21424.75 - NZ Spread: 75.25 Key scheduled economic events 08:30 | Average Hourly Earnings - Nonfarm Payrolls - Unemployment Rate AMP raised margin requirements overnight for pre-RTH jobs numbers - ATH continue to march higher - Retraced nearly 50% of Wednesday range Session Open Stats (As of 1:45 AM 12/6) - Weekend Gap: N/A - Gap 10/30/23 +0.47% (open < 14272) - Session Open ATR: 267.49 - Volume: 21K - Open Int: 291K - Trend Grade: Bull - From BA ATH: -0.4% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 22096 (updated) - Mid: 20954 - Short: 19814 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions. BA: Back Adjusted BuZ/BeZ: Bull Zone / Bear Zone NZ: Neutral Zone
CME_MINI:NQZ2024
by mv3trader5
Long Gold AgainWe just bought gold near 2632, and then gold rebounded above 2643. I just closed our long position near 2642 and easily earned 100 pips. At present, gold has fallen back to around 2626. Although we just missed the opportunity to short gold, when gold falls back, as long as gold does not fall below the 2625 line, I think the gold fall is still an opportunity to go long on gold, so I just went long on gold again near 2628. I think we should be able to make at least another 100 pips profit. Anyway, wish us good luck! Bros, have you gone long on gold? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
OANDA:XAUUSDLong
by Trader_Marvin
2
Aurora Innovation, Inc. (AUR): A Pioneer in Autonomous Vehicles Aurora Innovation, Inc. (AUR) is a leader in the autonomous vehicle space, focused on developing cutting-edge self-driving technology for the transportation industry. Looking at the stock chart, we see a confirmation bar with increased volume, signaling strong investor interest. The stock is currently trading above the Fibonacci .236 support zone, which is considered a positive sign for potential upward movement. The indicators used to analyze the chart are the Fibonacci Snap Tool and the Momentum Zones indicators, both available in the indicator search tab. These tools help identify key support and resistance levels, as well as momentum shifts in the stock’s price, providing valuable insights for making informed trading decisions. Aurora Innovation, Inc. (AUR) offers a suite of products, including its autonomous driving software and hardware, which are designed to be integrated into a range of vehicles, from trucks to passenger cars. Aurora's mission is to revolutionize the way people and goods move by creating safer, more efficient transportation solutions through automation. The main drivers of growth for Aurora Innovation include the rapid advancements in artificial intelligence and machine learning, the increasing demand for autonomous driving solutions, and partnerships with major industry players in automotive and logistics. As the world moves toward self-driving vehicles, Aurora is well-positioned to capitalize on these changes and drive growth in the sector.
NASDAQ:AURLong
by traderspro_charts
1
Finally the end of the bear, start of the bull?Hello hodlers, hello traders, i used the same title back in 2020: And " searching the bottom " is finally over. My last update was like: " Third time this year, we try to get above 30k. Until proven otherwise, we are in a bear... " Dont get me wrong! It is possible & will be in the future... Even if we are in the bull now, we could see big retracements! I show in this chart a potential time and price for our next sell zone. Last time after the breakout it took 44 weeks. This is where the red box is starting. Last time we hit the FIB 2.618 level and more. But we now, every time it will be less explosive. I slowly will start at FIB 1.618 with my sells. How you already filled your bags, but if not. Dont buy now, after several green weeks in a row. Wait for the next 20-40% correction. Good luck everybody!
BITSTAMP:BTCUSDLong
by Crypto-Coin-Trader
Bearish XAUUSD After Reaching Monthly 4.236 Fibonacci ExtensionXAUUSD has been on an epic 23 year bull run climbing over 1000% since the turn of the 21st century. The $850 high in 1980 crashed to a $252 low in 2001 signalling the end of a 21 year long bear market for Gold. The 4.236 fibonnaci extension between these points indicated the current bull run would reach $2785 before crashing. Gold met this prediction with a margin of just $5 when it hit $2790 on 31 October 2024. A replica of the 70% crash in the 80's and 90's would pull gold down back down to $850, retesting it's ATH of 1980. Significant short positions have been opened.
OANDA:XAUUSDShort
by TheDragonflyDoji_
2