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Fibonacci Extension

Silver set to explode. According to my Elliott wave analysis, Silver is in the early stages of a third impulsive wave, which is part of a larger third impulsive wave. This is the most explosive wave, with significant price gains expected. The recent breakthrough of a crucial Fibonacci resistance level at $24.66 confirms this outlook. With this level breached, silver now has a clear path to reach $45 in the coming months, with a potential fifth impulse wave pushing it to around $83. Brace for some serious excitement in the coming months!
TVC:SILVERLong
by joerivdpol
A Date with Bitcoin (Part 2 The Bottoming)The Confluence & Power of The Rings Over the years Fib Rings have had the tendency to indicate high levels of Support and Resistance. From the recent past these 2 rings I have done there has been a slight glimpse to look into the future. Take of it that you will but the facts are in the chart. Review the major moves Bitcoin has taken over the past year (2021- present day), observe the timeline and price targets Bitcoin has had with respect to the bounds of "The Rings". The Bottoming As we approach 2 major Crossing Fib Rings and a confluence of Trend-Base Extensions, 300 MA and a measured move of 30% to the down side there are a few key dates to pay attention to: Price Targets $17,549 > $16,200 (possible wick down to $13,839) - July 5-6th we may revisit the same support in which we bottomed on the June 18th ring. - From this, for a few days we may gain short-lived triggering a "double bottom" bounce. - Towards 12-14th July I suspect we revisit the ring that kick started the whole 2021 bull cycle again. Marking a potential mid-year bottom. As this indicates that there is a potential further decline, I am not ruling out that there could also be further downside in the weeks to come or, a bottom is already in. This theory suggests only if there is more downside and the dates to watch out for. Breaking either of these ring cross overs would indicator further downside or potential reversals. I will update this as we progress.
INDEX:BTCUSD
by LiquidMafia
5
How to work out additional levels when breaking to new highsThis is a bit trickier and there are certain techniques that you can use. I personally use Fibonacci extensions, point and figure and any potential patterns to offer potential upside targets. I realise I have been a bit cavalier with my point and figure upside target, as you can work this out exactly, but wanted to show the techniques I use rather than concentrate on the actual count itself. I took a look at the Apple price to give potential upside targets. The potential new targets are contingent on the old high around 183 breaking. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
NASDAQ:AAPL
by The_STA
3
Daily BTC 1DChart - resistance and supportHello everyone, I invite you to check the current situation on BTC in pair to USDT, taking into account the one-day interval. First of all, we will use the yellow line to mark the downtrend line, which the price has overcome upwards. Now we can move on to marking the places of support in the event of a correction. And here it is worth first to mark the first support at $25965, then we have the second support at $23905, the third support at $22459, and then the fourth support at $20768. Looking the other way, in a similar way using the Fib Retracement tool, we can determine the places of resistance. First, we will mark a very strong resistance at $28,794, from which the price bounced several times, but when it comes out higher, we have another very strong resistance at $32,422. As we can see the EMA Cross 10 and 30 indicate an ongoing uptrend. Please pay attention to the CHOP index which indicates that we have a lot of energy for the upcoming move, the MACD indicator indicates entering a local downtrend, while the RSI is in the process of a slight rebound, but there is still room for a deeper correction.
by cryptodailyuk
DGBUSD: Inverted Head and Shoulders Above POCDigibyte on many charts is breaking out of a falling wedge while showing us a 3 Line Strike on the monthly and on these charts the macro move you'd expect would take s between 12 and 20 cents, with that in mind i now look on the more liquid Bybit Chart and can see that 12 cents would be the 1.618 Extension and that it is currently trading above the POC after forming an Inverted Head and Shoulders pattern. If we breakout i would target the 0.886, then i would target the 1.618 for profit taking.
Long
by RizeSenpai
WC2603 GBPUSD Outlook: Short Tue 3/28/23 Bias: Shorting GU at the previous month's high 3M= Sideways M= Downtrend W= Sideways but in LTFs has already broken structure to the downside D= Uptrend (on its way to the next potential swing points daily & weekly Looking to enter at the 2400 level This area is the prev month's high confluence with supply areas at the D and H4 TFs. 3 potential moves 1. Liquidity Grab at the last weekly higher high before coming down to either 38.2/ all the way to 127 ext 2. Liquidity at the 2400 areas where we have multiple confluence before coming down to either 38.2/ all the way to 127 ext 3. Punches thru to 27 ext I am more for 1 & 2
Short
by RSC_FX
BNB/USDT 4HInterval Resistance and SupportI invite you to review the BNB chart on a four-hour interval. First, we will use the blue lines to mark the downtrend channel in which the price is currently moving. Let's start by marking the support places for the price and we can see that the price is currently struggling to stay on the support at the so-called golden point of Fib 0.618, but if the price drops lower, we have the next support at $305.8, then at $301.8. 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 to go through the strong resistance zone from $317 to $323 first. We continue to have strong resistance at $327.3, once the price breaks it it will move towards the resistance at $337.4. The CHOP index indicates that most of the energy has been used in the current correction, the MACD indicates the entry into a local downtrend, while the RSI has a large rebound and we can see that we are approaching the lower limit, which may slow down the price correction.
by cryptodailyuk
AUDJPY - The corrective structure will continueAUDJPY overview AUDJPY has broken the low created in December last year, which confirms that the most probable path is continuing the bearish corrective cycle WXY until reaching at least 81.455. This fact opens us the opportunity to look for shorting opportunities until we reach that level. We will not blindly enter to sell AUDJPY in any case. Only if we see clearly a corrective structure we identify and it provides us with a good Inflection Zone, we are going to sell it with a very high probability of having a profitable trade. AUDJPY is an asset to monitor, and we will keep you updated if the selling opportunity appears The market is constantly repeating the same type of defined structures. Learning them and being able to spot them on the charts will completely change the way you trade.
Short
by TradingtheRightSide
1
SOL/USDT 1DInterval Resistance and SupportHello everyone, I invite you to the chart of SOL in pair to USDT, nm on a one-day time frame. First, we will use the blue lines to mark the downtrend channel where the price is moving at the upper border. Moving on, we can move on to marking support areas when we start a larger correction. And here, in the first place, we have a support zone from $ 22.54 to $ 19.88 in which the price is currently located, then we have support at the price of $ 17.68, and then at the price of $ 15.14. Looking the other way, we see that the price has rebounded from the important resistance zone from $ 23.44 to $ 27.05, which so far has no strength to break. However, if we manage to break out of this zone above, we have another resistance at the price of $ 32.24. As we can see, EMA Cross 10 and 30 indicate the beginning of an uptrend, but be careful if it will not be a false break. Please look at the CHOP index, which indicates that we have the energy for the upcoming move, the MACD indicates that we are in an uptrend, while the RSI is moving around the middle of the range, which gives room for increases after a small correction.
by cryptodailyuk
Ripple (XRP): Impressive Gains, but Caution is KeyRipple (XRP) has caught the attention of many traders, especially after its remarkable performance today, registering a 20%+ gain. As previously predicted, altcoins are starting to make significant moves in the market, and XRP's recent surge seems to be just the beginning. However, it's essential for traders to exercise caution when approaching these substantial green candles. Key Levels to Watch: $0.50 and Beyond The $0.50 mark represents a crucial psychological barrier for XRP. Should the price break through this level, the next target range would be between $0.60 and $0.65. The red box on the accompanying chart highlights this area, which aligns with previous support/resistance clusters observed in January and April 2022. If XRP manages to reach these levels, it will likely face a significant pause. Trend-based Fib Extension: Targeting 100% Expansion at $0.50 The trend-based fib extension measurement shows a 100% expansion target at $0.50, which XRP nearly achieved in today's spike. This level further underscores the importance of the $0.50 mark in determining XRP's future trajectory. Be Cautious and Look for Other Opportunities Although Ripple's recent performance is undoubtedly impressive, traders should avoid chasing these massive green candles. Entering the market now would place traders over 20% behind others, making it a risky endeavor. It's important to remember that other opportunities may be available in the market, so tread cautiously and be on the lookout for more sustainable entry points. One last factor to consider is the healthy state of the wave master indicator, which suggests a higher probability of XRP reaching the $0.65 target. Nevertheless, to optimize trading outcomes, it's recommended to wait for a pullback and identify a favorable wave master entry point on lower timeframes. This approach will allow traders to capitalize on XRP's potential upside while minimizing risks associated with chasing significant green candles. For your conveinence, I've circled the last few times a daily buy alert has signaled on the wave master indicator.
by bitdoctor
DX1! Weekly Technical AnalysisDX1! Weekly - No RECOMMENDATION or ADVICE Status / EDUCATIONAL only - Support, Resistance, Confluence, Cluster, Fibonacci, Pitchfork , Cup and Handle - Hope it Helps, Good Luck DISCLAIMER - This communication is not trading or investment advice, recommendation or solicitation to buy, sell or hold any investment product is provided for informational, educational and research purposes only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The author or persons involved in the conception, production and distribution of this material cannot be held responsible for transactions or any financial loss or damages resulting directly or indirectly from the use or application of any concepts or information contained in or derived from this material. Past performance is not indicative of future results. Any person who chooses to use this information as a basis for their trading assumes all the liability and risk for themselves.
ICEUS:DX1!
by BahamasX
📊 Fibonacci Trading: Extension LevelsThe Fibonacci retracement tool plots percentage retracement lines based upon the mathematical relationship within the Fibonacci sequence. These retracement levels provide support and resistance levels that can be used to target price objectives. Fibonacci Retracements are displayed by first drawing a trend line between two extreme points. A series of six horizontal lines are drawn intersecting the trend line at the Fibonacci levels of 0.0%, 23.6%, 38.2%, 50%, 61.8%, and 100%. 📍 How this indicator works The percentage retracements identify possible support or resistance areas, 23.6%, 38.2%, 50%, 61.8%, 100%. Applying these percentages to the difference between the high and low price for the period selected creates a set of price objectives. Depending on the direction of the market, up or down, prices will often retrace a significant portion of the previous trend before resuming the move in the original direction. These countertrend moves tend to fall into certain parameters, which are often the Fibonacci Retracement levels. 📍 Calculation Fibonacci numbers are a sequence of numbers in which each successive number is the sum of the two previous numbers: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, and so on. 📍 What Are Fibonacci Extensions? Fibonacci extensions are a tool that traders can use to establish profit targets or estimate how far a price may travel after a pullback is finished. Extension levels are also possible areas where the price may reverse. Drawn as connections to points on a chart, these levels are based on Fibonacci ratios (as percentages). Common Fibonacci extension levels are 61.8%, 100%, 161.8%, 200%, and 261.8%. 🔹 Because Fibonacci ratios are common in everyday life, some traders believe these common ratios may also have significance in the financial markets. 🔹 Fibonacci extensions don't have a formula. Rather, they are drawn at three points on a chart, marking price levels of possible importance. 🔹 The Fibonacci extensions show how far the next price wave could move following a pullback. 🔹 Based on Fibonacci ratios, common Fibonacci extension levels are 61.8%, 100%, 161.8%, 200%, and 261.8%. 🔹 Extension levels signal possible areas of importance, but should not be relied on exclusively. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
4
Approaching a pivotal week for the S&PThe S&P500 / ES is sitting right at a critical point which I believe will break this week or next The weekly chart shows that the S&P is now above most key moving averages, including the 200 moving average (displayed in black), the 20 moving average (displayed in white) and the 50 moving average (displayed in yellow). Also it has broken above the upper resistance trend line (displayed in red), these are all obviously very bullish but a few major headwinds remain that may upset this upwards momentum. Price last week touched the 100 moving average (displayed in blue) but then rejected back down to end up finishing right at the Fib Extension 0.236 level. Ironically the 100 moving average has been a menacing level that has been difficult for the S&P to break through, 7 weeks ago and 21 weeks ago exactly the same touch and rejection of the 100ma occurred. Further to this we are about to enter one of the most bearish seasonal periods of the year for the S&P, I've included a seasonality indicator in my chart which shows 3 year, 6 year and 9 year tendencies and they all have exactly the same downwards pattern starting in February. The indicator below the Seasonality scan is RVI (relative volatility index), this is good for measuring both the volatility along with direction. Inline with what the market has been doing the past few years the RVI had been generally trending up and created a support line that was largely unbroken from end 2018 - Jan 2022, and since been broken the RVI is now showing a downwards trend and instead of a support line there is a resistance level over head that price is close to approaching. The last indicator on the chart includes Larry Williams Vix_Fix which had turned red recently (2 bars/weeks), signalling we are in historically low volatility period in the VIX, most traders know that large moves often follow periods of very low and/or contracting volatility. This last indicator also includes a display for the bond yield curve and this is currently shown in the maroon/deep red which confirms a fairly long period inverted curve which is also known as a precursor sign of recession and market sell off. The recent closed weekly candle was an indecision candle so this week that is coming or perhaps the one that follows should tell a lot about where the market will be heading over the course of the next few months A bullish bias would mean Price this coming week will disregard the seasonal bearish tendency and instead break above both the 100ma and the 0.236 Fib and close the week above these levels. A bearish bias would mean Price has closed back below the resistance level on the chart (both price resistance & RVI resistance) and price has tracked the normal declining seasonal pattern that plays out around this time of the year. I see more chart evidence of a coming decline than an incline but in any case we still need to wait for direction confirmation which should look like one of the above scenarios. So it is time to pay very close attention to the charts and In the week that follows the market direction confirmation signal I suspect we will see some large and fast moves of either sideline money coming into the market to cause one last blow off top before some kind of recession sell off later in the year or heavy selling as these key levels get rejected and the seasonal sell of takes hold.
CME_MINI:ES1!
by gary_trades
CABLE WEAKNESS INCOMING From a Technical standpoint we can see solid resistance forming in this current supply zone, which supports a RETEST of the SHOULDER that has formed around 1.19 Area. There will be a significant fight here however, as the downwards momentum of STERLING is very strong. Fundamentally the outlook for GBP remains very challenging as opposed to the US Dollar. Whereas Powell is going to realistically need at least one or two more hikes, the BoE is in a rather precarious position. With inflation peaking the Bank of England doesnt have much more room to keep pumping rates up, while other economic factors arent coming as strong in England as they are in the USA, with USA JOBS and consumer index keeping the dollar strong. Look for CABLE to retest lows at 1.19 and potentially dip further if price action allows it
Short
by NakedTrading4U
2