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Fibonacci Extension

1D Review ATOM/USDTI invite you to review the ATOM chart in pair to USDT on a one-day interval. Using the blue lines, we can mark the downtrend channel in which the price is moving and we can see that we are approaching the lower border of the indicated channel. Let's start by marking the price support spots and we see that we first have a $7.05 to $6.03 support zone, however if the price goes lower we have a very strong $5.03 to $3.60 zone and then when this zone is broken, we can see a drop to the $1.77 support area. Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price has rejected the first zone which goes from $8.39 to $9.41, when we get out of it the price has to go through the second zone from $10.24 to $11.10 and then move towards very strong resistance zone from $12.23 to $13.73. The CHOP index indicates that there is still energy for the ongoing downward movement, we are in constant rebound on the RSI and we see that each increase gives a quick return to the lower limit of the range, while the STOCH indicator is heavily exhausted, which may give a temporary price rebound.
by cryptodailyuk
ETH/USDT 4H Interwal Review ChartHello everyone, I invite you to review the chart of ETH in pair to USDT, also on a four-hour interval. We will start by marking the place where the price rebounded above the EMA Cross 200 blue line, remaining in the ongoing downtrend. Further, using the yellow line, we can determine the downtrend line under which the price is currently located and from which it rebounded during yesterday's upward move. Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark the support, and here we will first mark the strong support zone from $1700 to $1648, then we can mark the second zone from $1625 to $1592, when the price goes lower we can see a drop around the $1549 support . Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we can see that the price failed to break the resistance zone from $1714 to $1752, it turned around at the upper border of the zone, only when it breaks it will move towards the resistance at $1807. The CHOP index indicates that the energy has been used, the RSI has entered a downtrend, what's more, you can see that there is a lot of room for further decline, while the STOCH index also confirms that there is energy for the price to fall to a lower level.
by cryptodailyuk
EURUSD 4H Bullish & Bearish EURUSD 4H Bullish & Bearish and M and W. Double tops and bottoms are important technical analysis patterns used by traders. A double top has an 'M' shape and indicates a bearish reversal in trend. A double bottom has a 'W' shape and is a signal for a bullish price movement. Double top and bottom formations are highly effective when identified correctly. However, they can be extremely detrimental when they are interpreted incorrectly. Therefore, one must be extremely careful and patient before jumping to conclusions.
by shoonya0000
1
GNS Consolidated and Resting from Big Move LONGOn the 30-minute chart, I see GNS as a Bullish Pennant on a high flag pole in the big move yesterday with consolidation now. It is high in the VWAP bands and so at risk for a reversal to the mean. Pennants more often than not continue upside. To hedge, I have set two lines. If the price goes over the green line a buy stop long will trigger into a market price. If the price drops below the pennant height, a sell stop will trigger the short trade. One trade is on the other will not execute. Ask if you want my suggestion as to stop losses and targets. (EDIT - On the chart it is a flagpole not a flap pole !)
AMEX:GNSLong
by AwesomeAvani
US500 Futures ~ Snapshot TA / Fibonacci StrategyFollow-up of my " US500 Short-Med Term Outlook " chart. Updates: - Removed Horizontal Lines - Upward Parallel Channel (green) captures recent Bullish movement - Demand Zone (white box) of keen interest if price action collapses - Heavy emphasis on Fib Extension (line) & Retracement (dotted) aka Fibonacci Strategy - has been doing a decent job identifying key Support/Resistance levels - Narrowed time-frame down from 4hr to 1hr for better tracking when loading new bars Chart looks 'squished' on initial view - this is by deliberate design to capture entire Fib Extension & Retracement (so far) when you're zooming in on chart. Boost/Follow appreciated, cheers :) CAPITALCOM:US500 CME_MINI:ES1! CME_MINI:ES2! SP:SPX AMEX:SPY
CAPITALCOM:US500
by BlueHatInvestor
Ethereum - 76% crash to 389 USD! (must see, bear flag) My analysis shows an impressive crash is prepared on ETH after 427 days of consolidation in this bear flag on the weekly chart! It was a long time, and ETH has been going pretty much sideways. Now we have to expect huge volatility! The trendline of the bear flag is clearly breaking down with an ABC Elliott wave corrective pattern, which strengthens the bearish bias. It also looks like a wedge, but a wedge should have a 5-wave structure (a leading diagonal Elliott wave pattern). So this is a bearish pattern, and a 76% crash is absolutely coming in the next few months. You probably don't have too much time to think about what to do with your investments, but consider if you can handle a 76% crash on your spot or futures holdings. My recommendation is to sell, as it's too risky to hold it, and buying cheap ether later in 2024 is definitely juicy! Now what is the target, and where will the bottom be on ETH? We have a strong confluence at 389 USD and 387 USD because this is the Fibonacci 0.618 level of the previous bull market on the LOG scale and also because this is a 1:1 Fibonacci extension from wave (A) -> wave (B) of the current bear market! What's more, we have a first point of control over the volume profile, which you can see on the left side of the chart. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. As you know from my previous ideas, I expect Bitcoin to hit 10k next year. What would be really weird if BTC dropped and ETH rose? So 10k on BTC and 389 on ETH are my targets. I also checked more altcoins, such as DOGE, SHIBA, XRP, and LTC, and none of them looked bullish. The best is to stay in USD. Write a comment with your opinion, because I look forward to it! Thank you, and for more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
112
Taraxa: 10x or -40% - or both?Taraxa is a BlockDAG coin like Kaspa ($KAS). $KAS has aroused interest in similar coins with its enormous price gains in recent months. Whether it's right or wrong in the case of Taraxa remains to be seen. In terms of charts, there is a relatively clear picture. If NASDAQ:TARA successfully holds the $0.0060 level, I expect a return to the last high of $0.015. If the price breaks through this resistance, the markers in red are guide values for TP levels (levels, not points!). If NASDAQ:TARA fails to hold $0.006, the $0.0035 to $0.0041 area is a very good area to accumulate. If the price falls below this level, I will sell and only buy back after a successful return above $0.0041. NFA. DYOR. I am a human being, and I have been married three times, so I'm obviously prone to error.
Long
by NonComposMentis
3
ETHUSDT more dump or huge pump?Hi dear community members, my lovely and loyal followers, I hope you are fine and making good trades. I haven't published analyses for 2 months coz I expected both #ETH to dump 1650-1700$ as I mentioned in my tweets/ which you can check on my previous publications. BTW I warned about this dump back on June 24th when BTC price was 31500 and ETHER was 1940$ almost at the top/ but I didn't expect that ETH will go below 1650$ and hit my worst case scenario zone which I mentioned with RED-GREEN box. I'm looking at daily timeframe and as you see ETH cleared/swept all SSL and felt all imbalances below 1810$, even it took out previous major swing low/EQL/ below 1625$ and hit daily bullish OB/FVG/BPR. If we measure the recent move from 2031 to 1492 it is 100% projection of previous move from 2146 to 1625$. I'm sure ETH bottomed on August 18th at 1492$ and after some types of consolidation between 1500-1800$, which will last about 2-4 weeks, ETH will start its major impulse move towards 2500$ even higher. I marked upcoming move with pink line. I also mentioned the most critical level on the chart /white line-1367$/, which has to be respected by bulls in the worst case to provide upcoming bullish movement otherwise game is over for bulls. Also as soon as ETH reclaims 1878$ level, game is over for bears and it will pump towards 2500$ even higher. You can check my previous publication for BTC analaysis and upcoming movement If you like my ideas, don't forget to like, comment, share, retweet and follow please. I will appreciate a lot.
Long
by ergal91
Will BTC continue its dump or it'll surprise everyoneHi dear community members, my lovely and loyal followers, I hope you are fine and make good trades. I haven't published analyses for 2 months coz I expected #BTC to dump towards 26.5-27K as I mentioned in my tweets/ which you can check on my previous publications. BTW I warned about this dump back on June 24th when BTC price was 31500/ almost at the top/ but I didn't expect that BTC will go below 26K in any case we haven't seen daily candle close below it)). Now I'm looking at daily timeframe and as you see BTC cleared/swept all SSL and felt all imbalances below 28.5K, even it took out previous major swing low/EQL/ below 24.7K and hit daily bullish OB. If we measure the recent move from 31,850 to 24.7K it is below 100% projection of previous move from 31059 to 24.7K. I'm sure BTC bottomed on August 18th at 24.5K and after some types of consolidation between 25-28K, which will last about 2-4 weeks, BTC will start its major impulse move towards 37-38K even higher. I marked upcoming move with pink line. I also mentioned the most critical level on the chart /RED zone/, which has to be respected by bulls in the worst case to provide upcoming bullish movement otherwise game is over for bulls.
Long
by ergal91
As Deflation Hits the Economy The Price of TIPs Should FallEarlier in 2022 I got some Bullish Exposure to Deflation by positioning Bearishly against TIPs (Treasury Inflation-Protected Securities) as can be seen here: Fast-forward to today and we can now see the CPI declining and the TIPs declining even faster, This ETF Tracks the price of these TIPs and we can see that it is breaking through support even though the CPI has only retraced half way. If the CPI continues on this path and the Bond Market continues to price in Long Term Deflation, we should then see the pricing of this TIPs based ETF come down crashing in a big way. If that does happen, I would target at least the 1.618 Fibonacci Extension.
AMEX:SCHPShort
by RizeSenpai
1
INVERTED Bitcoin Analysis: A Tactical Blueprint to $250K In this analysis, we examine three INVERTED schematics of Bitcoin’s price dynamics— one monthly and two weekly charts. The first schematic, an inverted monthly timeframe, illustrates a remarkable adherence to the support and resistance levels through opens/closes/wicks, showcasing pivotal turning points on a Monthly Timescale. These two weekly charts on the right reveal well-ratioed price movements, suggesting a degree of proportionality and predictability in Bitcoin's price behavior. This symmetry highlights the robustness of my technical analysis and the self-fulfilling nature of these levels. Please refer to my other 250k Bitcoin Target Ideas linked below.
CRYPTO:BTCUSDLong
by MichaelBsul
2
DXY LONG/ BUY🔰 Pair Name : DXY 🔰 Time Frame : 4H 🔰 Scale Type : SMALL/ MID Scale 🔰 Direction : LONG/ BUY 📈 Hey there, fellow traders! Let's delve into some pure technical analysis regarding the DXY: 📊 DXY has executed an intriguing move by breaking through the 4-hour supply zone, which has now transformed into a 4-hour demand zone. This shift indicates some interesting possibilities. From a Fibonacci perspective, the price has convincingly breached the 100% Fib level. 📉 Looking ahead, this development suggests that DXY might be setting its sights on the 127% Fib level in its journey. And that's not where the story ends – a subsequent move towards the 161.8% Fib level seems to be in the cards. 🔄 But wait, there's more! A potential retest of the 100% Fib level might be on the horizon after the solid breach of the 127% level. This intricate dance of levels could play a significant role in shaping DXY's path. 📊 As always, remember that the market is a complex beast, so stay vigilant and let's see how these technical indicators align with actual price action. Keep your strategies sharp and your trades calculated! Happy analyzing! 🚀💹 #DXYAnalysis #TechnicalInsights
TVC:DXYLong
by Moon_SmartMoney
BNB/USDT 1D Chart ReviewHello everyone, I invite you to review the BNB chart taking into account the one-day interval. We can start by marking the local triangle with blue lines, as you can see we are approaching the exit of a specific product. Let's start by marking the support spots for the price and we see that the price stays just below the support at $240.72, then we have a strong support zone from $235 to $228, however if the price goes lower, we have the next support at $220. Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that first the price has to break the zone from $244 to $248, then there is the second zone from $251 to $255, and then the strong resistance at $261. The CHOP index indicates that there is a lot of energy to move, while the RSI moves around the middle of the range, which in combination with the STOCH indicator, we can see the price rebound.
by cryptodailyuk
🥇GOLD - price corrections before a trend-following decline Gold finally breaks the lower boundary of the bearish channel. The market is forming a 0.6% impulse drop and the price is testing 1914.4. Technical pullback may fix the price in the zone for selling after which the fall will continue TA on the high timeframe: 1) Breakout of the range support forms a strong impulse. The way is open for a decline to 1892 2) Price forms a retest of the liquidity area. High chance of a rebound TA on the low timeframe: 1) Channel support is finally broken. Price formed an impulse to 1913 after which we see a correction to retest the previously broken support 2) Most likely the price may test the old flat - 1923.8, form a false breakout and continue its fall in the direction of the trend. 3) It is worth paying attention to the level of 1923.9, 1930.9 to look for sell signals. Key resistance📈: 1923.9 Key support📉: 1913, 1900
OANDA:XAUUSDShort
by AndeWave
10
Magic of Fibonacci Levels ✨In the realm of technical analysis, few tools capture the imagination of traders as effectively as Fibonacci retracements and extensions. Derived from the famous Fibonacci sequence, these levels offer insights into potential price reversals, extensions, and trend continuation points. In this article, we'll delve into the world of Fibonacci levels and explore how to use them to enhance your trading decisions. Understanding Fibonacci Retracements: Fibonacci retracement levels are like hidden treasures ✨ along a price trend. These levels, calculated from a swing high to a swing low, create horizontal lines that indicate potential support and resistance levels. The most common retracement levels are 23.6%, 38.2%, 50%, 61.8%, and 78.6%. How to Use Fibonacci Retracements: Identify a Trend: 📈📉 Begin by spotting a clear trend, either upward or downward. Select Swing Points: 🏞️ Locate the pivotal swing high and swing low within the trend. Plot Fibonacci Levels: 📏 Put those retracement levels on your chart, and watch as they highlight potential support or resistance areas. The Application: Support Levels: 💪🛡️ During an uptrend, traders often see retracement levels as potential buying zones. Resistance Levels: ☔ In a downtrend, these levels can be seen as possible areas to consider short trades. Understanding Fibonacci Extensions: Fibonacci extensions act like a crystal ball 🔮 projecting potential price targets or levels where the trend might extend. Extension levels include 161.8%, 261.8%, and 423.6%. How to Use Fibonacci Extensions: Identify a Trend: 📈📉 As with retracements, spot a well-defined trend. Select Swing Points: 🏞️ Determine the significant swing low and swing high within the trend. Plot Fibonacci Extension Levels: 📏 Add those extension levels to your chart, projecting potential price targets. Few examples : The Application: Projection of Trend Continuation: 🚀 Fibonacci extensions hint at where a trend might continue in its existing direction. Price Targets: 🎯 Traders often utilize extension levels to pinpoint potential price areas before a reversal might occur. Conclusion: Fibonacci retracements and extensions are like wizardry in the trader's toolkit. By grasping these levels and their applications, traders can create more informed strategies for entry, exit, and target levels. Remember, while Fibonacci levels are magical, they work best when combined with other technical indicators and chart patterns. As with any trading strategy, practice, experience, and risk management remain essential. With careful consideration and diligent analysis, Fibonacci levels can sprinkle a touch of enchantment to your trading endeavors. 📊✨
Education
by Yaroslav_Krasko
💱 EURCHF - A reversal pattern. What to expect from it? EURCHF is forming a reversal set-up. Against the backdrop of the global downtrend, this doesn't tell us much, but if the price overcomes the resistance, a quick trend reversal could be in order TA on a high timeframe: 1) Strong bearish trend 2) Price continues to fall and test the bottom 3) Liquidity area that may be of interest to the market is above 0.96500 TA on the low timeframe: 1) A reversal setup is being formed relative to the 0.95987 level. 2) Consolidation between H&S base and 0.95897 support is possible, after which growth may follow 3) Bullish momentum may reach 0.96770 as this area is a global liquidity area. Key support📉: 0.95987 Key resistance📈: 0.96500
Long
by AndeWave
6