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Fibonacci Extension

Winter Is Coming » The Great Reset? As you can see, this is a monthly view of the SPDR S&P 500 index - ticker symbol $SPY - on a monthly basis. We have just closed Q1, 2022 with a truly epic rally: $AAPL had its best stretch since 2003, and a series of hot stocks ($AMZN, $GOOGL, $TSLA, $GME) have either confirmed stock split plans or have mentioned the serious possibilities of it. We have closed the month with a bullish engulfing candle on the monthly chart. $QQQ's monthly chart looks like a hanging man - today's selling put us just under an engulfing. We're going to see some interesting action in Q2, and in the next few weeks, but don't let yourself be fooled into thinking Feb24/Mar14 was the bottom by idiots like Cramer. Good luck out there. I invite anyone to present their bullish or bearish thesis in the comments section!
AMEX:SPY
by OptionsAddicts
USOIL - AT A KEY LEVEL!!OIL is up over $17 over the last week and has come into a critical area between 114.26 - 115.42. This is the area where we have the ABCD completing and also the 61.8% Fib level from the March high. We have a critical turn point coming up which gives us A-B=C-D in time. I will post the AI in the update area with expected trend for the day and we could get a minimal move back down to 105-107 area but possibly more with a bigger correction. Above 116 and it could get to the 1.618% expansion of the last correction near 120. I hope this helps. Enjoy the day.👍👍
TVC:USOILShort
by L_F
Easy 5:1 ETH Short On the CardsFTX:ETHPERP Trade thoughts: With the aggressive downside move this week, buyers trying to take back control of market, but bears are not finished. I think bear market is upon us as weekly structure has been taken out for BTC, and for ETH its just a matter of time - once we break and close below 1889 on weekly timeframe bear market will be confirmed for me. This is last attempt to push the market back up by Bulls. PA is without question trending down with price below the 4H 50 EMA, and consistent lower lows, lower highs. Good time to sit back and wait for the next short opportunity with PA destined to head back down. Keep stops above structure level and an easy 5:1, and possibly 15:1 once you can safely tighten stops after stop hunt attempts. Keep above 2456 until you can be certain.
FTX:ETHPERPShort
by cryptoject
1
2W BTC bull run profit targets To determine possible stepping stones in the incredible journey of our favorite asset class (yes - bitcoin) we look at the bi-weekly chart, and draw fibonacci trend extension from near 0 to the peak in 2019 and to the all time low after that (122, 19690, 3120). We also draw the 100 moving average line to observe how BTC successfully bounced off it 2 times - in an essence confirming there there never was a bear market in the bitcoin life-time, at least not from the bi-weekly perspective. We witness the HODLers triumph. (Well done, party people!) We notice: 1) bitcoin currently is testing resistance at 1.618 extension level. This is a good time to take profits and to wait for a pull-back to re-enter. pull-backs to 30k, 20k are very likely in the next few months. even below 10k levels are possible if there is a significant negative news. No matter what happens - we predict that bitcoin wont' fall below 100 MA on the 2W timeframe. Fundamentals are way too strong: more and more institutional buy-ins, public interest all time high, relentless money printing by the governments). 2) using our tea-leaf indicator we predict new all time high above 40k before august 2021, and 85k levels by the end of 2024. 3) we watch out for ETH 2.0, and bitcoin profits moving into slakeable assets such as PolkaDot.
KRAKEN:BTCUSDLong
by PurseLance
1
MATIC/USDT - Waiting game for $9 targetHello traders and investors, Today we look at polygon matic / USDT pair with the usual critical eye. Looking at the recent moves, I see that intermediate blue wave 3 reached the 3.618 Fibonacci target with a series of 1-2 1-2 1-2 extensions. I believe that May 2021 pick was intermediate blue 3 rather than primary purple wave 3 because I compare the size of the red minor degree wave 2 and wave 4 (he look similar 35days correction and 37 days correction). Therefore I assume that we are currently in the creation of intermediate blue wave 4 and it will take some time to complete (1.618 or 2) of wave 2, with a retracement that should bring us in the same region of wave 4 of one less degree. (Ahimé at $0.33). If that is the case, I will once again fill my bag and wait for the explosive composition of intermediate wave 5 of primary 3 which is currently at 2.618. I have no rush in buying now. Waiting for the market to play out, if minor wave A red is actually the end of the entire correction, it means that it took only 38.2% of the time of intermediate wave 2 and retrace only 23.6%. It's possible, but I will be waiting for the market to unfold in the next few days before considering an alternative. What do you think? What's your target?
MLong
by Dry-Storm
6
ADA above last support zone#ADA/USDT $ADA weekly chart shows price is above middle line of descending channel that is the same with long term support zone. this support zone is between 1.272 and 1.414 fib level of last weekly swing high. 🐻 if price break down from 1.414 fib level it will continue its downtrend to lower line of channel that is the same with 1.618 fib level which is below $0😁!! 🐮 so price should hold this support and maybe in short term or mid term it has sideways moves to help bulls gather strength, and start a new rally in long term.
by parissap