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Fibonacci Extension

EUR/JPY FINAL TP HIT!Trade Plan 1. Price was trending down so i wait for a break of my key level 2. Price broke below my Key level (1.425) 3. I placed a Fib tool from the last high to the low as we are trending down. 4. I wanted a second layer of confluence which was a fib level, the level had to line up with my Key level (1.425) before my trade idea is valid 5. Price retraced to 61.8 fib level and rejected so i entered the trade. 6. It took a couple of hours for my trade to hit tp.
Short
by Damianagbodza
1
SPX Breakeven 9/19/22Moved my SL too early and flushed out at BE. Not a lot of volume on SPX shown until 10:02am at the TDO. NAS showed the volume kick in just before the bell and 9:32am was the actual move up. NAS made a HL while SPX and US30 both made LL on the daily charts. Then on the 4H we saw the first up candle and price held inside of that candle with volume to the upside. Things to improve: Trade management, leave my SL alone, it's there for a reason. When risk is properly established then there should not be a reason to make any adjustments to it. Needed to practice a bit more patience. Things done well: The setup, building this hypothesis was well thought out. Both side of the possibility for a continued sell and a rejection buy were setup. Risk management, even if I'd loss the entire trade I was only wagering 0.25% on the trade
BLACKBULL:SPX500Long
by Cory4rex
1
USDCAD, extended wave to end soonUSDCAD has been trading in a zigzag structure (channel) with higher highs and higher lows on daily timeframe. It has reached a horizontal resistance zone. we can notice a WXYXZ Elliot structure, with ABC patterns in every impulse and X correction after it (11 waves in the channel). USDCAD is close to the end of the last extended wave C: we can notice in it 12345 Elliot waves structure. With Fibonacci extensions, wave 5 can reach 1.335 (or the rectangle we draw based on the fib extension). However, a head and shoulders pattern is recognized on m30, waiting for USDCAD to break the neckline with a candle closing below it to take the sell. Be careful with your risk management, the last extended wave can still reach 1.25 fib extension before ending. Goodluck everyone, Joe.
Short
by joe-abdallah
8
ETH, looks like a long way down. Hey everyone, just some quick TA. On HTF there is a H&S unfolding. Monthly open lost (1554) now opens the flood gates to lower prices. Based on fibs and where previous lows are it appears those lvls will be reached sooner rather then later. 1.618 lines up around $900 which also coincides with previous lows. This is not financial advice just what I’m seeing in the charts and what looks likely to play out. Also factoring in fed meeting next week on the 22nd with an expected .75 basis points. Don’t be surprised with a 100 basis point rise and markets to react negatively. Well that’s how I’m playing it. Good luck happy trading! NFA
COINBASE:ETHUSDShort
by SpaceCadetAcademy
A last chance for the Euro ?Under the US dollar pressure, EURUSD has been making lower lows and lower highs recently. However, RSI on the monthly chart is oversold for the 3rd time in this century. MACD is showing bullish divergence on multiple timeframes, and the EURUSD on H4 has just achieved a higher high this time with 5 impulse waves: the ABC correction is clear on the chart, wave C is nearly around 0.76 to 0.8 fib retracement. With today's good news on euro CPI and core CPI (higher than expected for both), we can give this currency a chance to retest the end of impulse wave 5, or even to make a higher high. Stoploss can go below the impulse wave 2 for some people, or below the lowest low (the beginning of the impulse wave). Note that on a long term perspective, USD is still stronger than EURO, we will just give eurusd a chance after the new high we saw lately. Goodluck everyone, Joe.
Long
by joe-abdallah
bullish flag can make another leg up for ETC#ETC/USDT $ETC had more than 140% increase since my analysis from 6/12/2022 and broke out from descending trend line. 🐮 now price shaped a bullish flag pattern and we just need a confirmation of the weekly candle to close above the channel. so if we have this confirmation price can increase toward 1.618 fib level of last swing high (which is between upper trend lines) to complete flag Pattern and also it can be AB=CD pattern that can be complete.
Long
by parissap
10
AUDNZD CONSOLIDATION BREAK Pair: AUDNZD Timeframe: 1D , 4H Analysis: Round number level, trend line, volume profile, support and resistance, trend channel, consolidation period ————— Key Takeaway: Been consolidating by this level of support for quite some time now and we are seeing alot of big wicks on top of recent candles indicating the rejection of bullish momentum. We need to see a close below this level of support before we can enter short ————— Level needed: need a close by 1.11260 ————— Trade: Short RISK:REWARD 1:10 ————— DO NOT ENTER OUR SETUPS WITHOUT CONFIRMATION
Short
by TheGoldRoom
My Elliot Wave theory on BitcoinHi all, Here's my count on Bitcoin, and my thought about the current situation : INDEX:BTCUSD On the long term, prices made a perfect count in five primary waves (three motive and two corrective waves), that build the very first cycle wave . Currently, we are in the corrective phase, or wave 2 of the cycle . This wave 2 is composed by three primary waves, A, B, C . According to the structure of the current wave (wave A), we are in a Zigzag , a corrective pattern composed by 2 motive waves , A and C. These waves are subdivised by 5, 3 and 5 intermediate waves. By looking at the chart, we already made 4 intermediate waves and we are now in intermediate wave 5 of primary wave A . The current target of this final wave is the 161.8% Fibonacci ratio , at 16,665$ . Let's assume that this target is the good one and prices bounce on it, and build primary wave B . This wave is subdivised of three intermediate waves , ((a)) , ((b)) and ((c)) . Primary wave B retraces around 50% and 85.4% of primary wave A . (Fibonacci retracement) Again, the most realistic target is the golden ratio (61.8%) . So the top of primary wave B could be at 39,466$ . Finally, prices enter the last primary wave, wave C . This one have three main objectives, 61.8% , 100% and 123.6% of primary wave A . You have these three targets written on the chart. It will depend on the market psycology and the strenght of the bears during this phase. And the end of this pattern would be between fourth quarter of 2023 and first quarter of 2024.
INDEX:BTCUSDShort
by Augustus1st
TRB trend lines and fib levels#TRB/USDT $TRB touched 0.5 fib level of weekly swing down and dropped to support zone which is the same with support zone around $20. 🐮 holding above this support zone, and after several days of sideways move between $30 and $20, it can head up to descending trend line which is the same with 0.5 fib level again. break out from this level will increase price to resistance zone around $60. 🐻 breaking down from support zone will drop price to descending support around $3!!
Long
by parissap
4