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Fibonacci Extension

#genus power ready for next leg of rally?Genus power after breaking out in May 2023 has moved around 164% in a span of 1 year. Then corrected around 26% and once again it has started moving up. This week it tested a strong fib resistance level of 338 and if this or next week manages to sustain above this number then it can try to touch 1) 366 2) 387 3)398 4)413(imp level) 5)443 6) 463 7) 490(imp level). Since my proprietary indicator is telling me that there can be some sort of pullback so I would like to wait for it to initiate long or take small qty once it close above 338 and add more once it starts moving up or comes down to 274 level. Once it will start moving up I would like to trail it for higher targets till 577.
NSE:GENUSPOWERLong
by ssudhirsharma11
Where Does TSLA Land? Trend - Downtrend confirmed. - Components of the channel chart: The original downtrend channel plus a 100% extended channel. Both channels divided in half by blue dotted lines. The shaded zones furthest from the center represent "overbought/oversold forces," which counterbalance each other. - Currently, the price is descending into the extended channel, suggesting a chance of reaching the lower band of the extended channel. - Note that when the price enters the orange shaded zone, it could move rapidly in one direction, as there is minimal previous support and resistance. - The trend lines serve as potential support and resistance levels. 100% Symmetrical Projection: Downtrend “N” Patterns - A 100% Symmetrical Projection of the previous swing (from A to B) and then projected from C. As a result, D is the initial target price on the short side. - The 0.5 level from C to D serves as a clear support, enhancing the value of this projection. N Pattern’s Target Price & Fibonacci Price Cluster - The target price of $116 at level D aligns with a major prior low on the weekly chart. - Levels 1 & 2 are significant due to the price cluster effect, demonstrating the validity of the extension of the prior major swing. - Consequently, Level 3 has a good chance of becoming a critical support and a potential target price. Conclusion - In comparison with symmetrical analysis, TSLA's trend channel chart provides higher reference value. - The dynamic target price is the lower band of the extended channel. - The fixed target price (strong support) could be $122, followed by $116. Not Financial Advice The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
NASDAQ:TSLAShort
by stock_adelie
From Leonardo to Trading: The Evolution of Fibonacci LevelsIn the labyrinthine landscape of financial markets, where volatility reigns supreme and uncertainty lurks around every corner, traders seek reliable navigational tools to steer through the tumultuous waters of price movements. Among the myriad techniques at their disposal, Fibonacci analysis emerges as a stalwart companion, offering a nuanced understanding of market dynamics rooted in mathematical precision. In this comprehensive exploration, we delve deep into the multifaceted realm of Fibonacci levels, unraveling their historical significance, evolutionary trajectory, practical applications, and the diverse perspectives that shape their interpretation. Tracing the Roots: To appreciate the profound impact of Fibonacci analysis on modern trading methodologies, a journey back in time to the 13th century is warranted. It was during this epoch that Leonardo of Pisa, known colloquially as Fibonacci, unveiled a numerical sequence that would transcend mathematical realms and find profound resonance in the domain of financial markets. Beginning with 0 and 1, each subsequent number in the sequence is the sum of the two preceding ones, laying the groundwork for a sophisticated understanding of market movements rooted in the natural order of mathematics. Evolution in Financial Analysis: While Fibonacci himself might not have envisaged the application of his sequence in financial markets, the 20th century witnessed a paradigm shift as visionaries such as Ralph Elliott and Robert Prechter pioneered its integration into trading methodologies. Elliott's Wave Theory, with its emphasis on repeating patterns and sequences, forged an intriguing connection with Fibonacci numbers, laying the groundwork for a symbiotic relationship between mathematical principles and market analysis. This union catalyzed a renaissance in technical analysis, ushering in an era where Fibonacci levels became indispensable tools in the arsenal of traders worldwide. Unveiling Fibonacci Retracement Levels: At the heart of Fibonacci analysis lies the concept of retracement levels, a cornerstone of technical analysis that echoes the natural order observed in the Fibonacci sequence. These levels, including 23.6%, 38.2%, 50%, and 61.8%, serve as pivotal markers in identifying potential zones of price reversal, offering traders valuable insights into market sentiment and trend dynamics. By applying the Fibonacci retracement tool to significant highs and lows, traders gain a nuanced understanding of market psychology, discerning the underlying rhythm of price movements amidst the chaos of market fluctuations. Venturing into Fibonacci Extension Levels: Beyond retracement levels, Fibonacci extension levels offer a panoramic vista into the future trajectory of price movements, illuminating the path for traders seeking to navigate the complexities of trending markets. With extensions such as 161.8%, 261.8%, and 423.6%, traders can delineate potential targets for price continuation after a correction, harnessing the mathematical harmony inherent in the Golden Ratio to set profit targets and manage risk effectively. These extension levels, rooted in the timeless principles of Fibonacci analysis, serve as guiding beacons for traders navigating the ever-shifting tides of financial markets. Practical Applications and Precautions: While Fibonacci levels furnish traders with a potent framework for analysis, it is essential to exercise caution and supplement Fibonacci analysis with corroborating indicators and risk management strategies. By integrating tools such as Moving Averages, Relative Strength Index, and candlestick patterns, traders can enhance the robustness of their trading decisions, mitigating the inherent uncertainties of financial markets and maximizing the efficacy of Fibonacci analysis. A Tapestry of Perspectives: As we reflect on the journey of Fibonacci levels through the annals of financial history, we encounter a tapestry of perspectives that weave together to form a rich tapestry of knowledge and insight. From Larry Pesavento's exploration of harmonic price patterns to Philip Carret's pioneering work in long-term investing, the legacy of Fibonacci continues to inspire and guide traders in their quest for market mastery. These diverse perspectives underscore the enduring relevance of Fibonacci analysis in an ever-changing landscape, reaffirming its status as a timeless ally in the pursuit of profit and prosperity. Conclusion: In conclusion, the comprehensive exploration of Fibonacci analysis reveals its enduring significance as a cornerstone of technical analysis in financial markets. From its humble origins in the mathematical treatises of Leonardo of Pisa to its integration into modern trading methodologies, Fibonacci analysis embodies the timeless principles of mathematical harmony and market psychology. As traders navigate the labyrinthine paths of price movements, they find solace in the elegant simplicity of Fibonacci analysis, a steadfast companion in their quest for success amidst the ever-shifting currents of financial markets. Thank you for reading! I hope this article proves to be interesting for all of you!
Education
by FOREXN1
4
TSM: After Downgrading The Outlook, What To Expect? Trend - On the weekly chart: Clearly showing an uptrend. - The uptrend channel has extended 100% and is expected to return to the middle line at least, with a chance of reaching the lower band of the original channel. 100% Symmetrical Projection: Uptrend “N” Patterns - A 100% Symmetrical Projection of the initial swing (from A to B) and then projected from C. As a result, D was our initial target price. - Without a symmetrical retracement from D to E, there's a resistance-turn-support at level D, and the price continued to rise. The target price was adjusted another 100% higher to D' due to the very strong momentum. - However, the price failed to reach D' and fell below level D at $135, indicating that the momentum has dissipated. Additionally, on the daily chart, there's a support-turn-resistance to reinforce the level's importance. - What's next? The price may retrace 100% of the "extra force" of the blue box; or The price is likely to fulfill the original symmetrical retracement from D to E. N Pattern’s Target Price & Fibonacci Price Cluster - The 0.5 Fibonacci Retracement of the entire swing from A to HH perfectly aligns with level E, which can be seen as one of the current target prices on the short side. - The 0.618 Fibonacci Retracement of the more recent swing from C to HH is close to the low of the returning blue box. - Both levels and the previous key resistance level at B form a tight zone, likely to be a significant support area (the gray area). Conclusion - After breaking below the key level at $135, TSM is expected to retrace to the tight range between $109 and $112.7. - In other words, if you’re considering to buy more and invest in TSM, this tight support area presents an opportune entry point. Not Financial Advice The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
NYSE:TSMShort
by stock_adelie
MSFT’s Momentum Weakening: Where’re the defending levels? Trend - On the weekly chart: Still within the large uptrend channel since January 2023. - On the daily chart: The minor uptrend channel since October 2023 was broken with moderate volume. - Although the long-term uptrend remains intact, the short-term momentum may be pausing. 100% Symmetrical Projection: Uptrend “N” Patterns - There are two price projection models, both leading to the same ultimate target price of $457. The large purple N, starting from January 2023. The small orange N, starting from October 2023. - Symmetry break : If the price drops below the prior low at $400, the symmetry (the pullback) is violated. Following that, with increased uncertainties, anticipating the price action will become challenging. - If the momentum is strong, we could expect a clear price movement toward the target price once it surpasses the symmetrical retracement box at $421. However, the price is currently hovering around $421, indicating weakening momentum. N Pattern’s Target Price & Fibonacci Price Cluster - Both N patterns are an A+ setup . Retrace 0.382 of the prior swing and then continue to rise. - The level of 1.618 Fibonacci projection of the prior swing is the N’s target price. - The level of 2.618 Fibonacci extension of the retracement is the N’s target price. - The price treats the key Fibonacci levels as significant support and resistance levels along the way up. Conclusion - Currently, the momentum is weakening, though not yet exhausted. - Once the price breaks below $400, the short-term momentum will be exhausted, potentially leading to a trend reversal. - In the long term, for MSFT to sustain the uptrend, the price should remain within the large uptrend channel and above the price level of $367. **Not Financial Advice** The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
NASDAQ:MSFT
by stock_adelie
Bitcoin is ready for a 15% crash! (to 58k)Bitcoin may look pretty bullish, but do not get distracted. The price is forming a bearish distribution pattern inside a bearish parallel channel, as you can see on the chart. Right now, the odds are in favor of another crash. I am not saying this only because of the price action, but also because of the Elliott wave theory: as per my wave count, I am expecting bitcoin to finish wave (C) with a 1:1 Fibonacci extension level. Also look at previous waves, and waves (B) at this point look like an ABC bearish pattern.  Why is 58K important? We have a major swing low from March 5, 2024, and clearly there is a lot of liquidity and orders from retail traders. The whales need to consistently go for strong liquidity levels, as that's their only chance to buy bitcoin with a large amount of money. What they want to do is buy as much Bitcoin as liquidity allows and then send the price to the moon.  Right now, I really cannot be bullish on Bitcoin, but let me know your opinion in the comment section! I will be very glad. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Short
by Xanrox
152
Bitcoin - Buy the DIP! Ready for 80k.Bitcoin is definitely ready to go higher, and it's a really good time to buy the dip after the previous crash! We can see that the price is making higher lows on the daily chart, which is a strong sign of an uptrend. The price is currently still inside this symmetrical triangle, so we are waiting for an explosive move, probably to the upside. The trend is your friend until the end, and the trend is still intact bullish. 17% profit if you buy at the current price is very possible in the next few weeks! With 20x leverage on futures, it's a 340% profit. Where to take profit? I recommend the 0.382 Fibonacci extension from the start of wave (1) to the end of wave (3) and to the end of wave (4). But if you are not sure about that, you can still take profit at the top of the ascending parallel channel! But Fibonacci tools are a must-know when trading Bitcoin; they give you a massive advantage over other retail traders. Fibonacci techniques are popular among huge banks, hedge funds, and institutions. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Long
by Xanrox
15
Ethereum - is ready to go higher! +32% this monthEthereum is still very bullish, so there is no reason to expect lower prices at this moment. We can see that the price broke out of this ascending parallel channel and retested it. Usually you want to wait for a retest and then enter a long position, which is happening right now! You can place your stop loss below the previous swing low (inside the ascending channel). On the chart, you can see my detailed Elliott Wave count. We are in the bull market, so we can expect an impulse wave to form. In this case, we are still missing the fifth wave to the upside, which gives us another reason to open a long position. Where to take profit? For this, we always need to use the Fibonacci extension tool. In combination with Elliott Wave theory, we can use the fibonacci extension tool from the start of wave 1 to the end of wave 3 and to the end of wave 4. The target for the fifth wave is 0.382 FIB or 0.618 FIB. Both log scale and linear scale are valid as profit targets. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Long
by Xanrox
24
Gold's Ultimate Destination: Breaking Down Critical Levels Trend -- The price has surpassed the healthy channel from the end of 2022. -- It is possible that the momentum move is nearing its end and entering an overbought zone. 100% Symmetrical Projection: Uptrend "N" Patterns There are two "N" Patterns: a Large Purple N and a Small Orange N. N Pattern's Target Price & Fibonacci Price Cluster -- The target price of $2356 (Orange N) almost perfectly aligns with two other Fibonacci levels. -- The target price of $2480 (Purple N at 1.5X) matches with two other Fibonacci levels. To determine the significance of each target price, a Fibonacci retracement was conducted: -- Testing from $1810.4 to $2356 (Orange N): few validated price reactions to key levels were observed. -- Testing from $1984 to $2480 (Purple N at 1.5X): minimal price reaction to key levels was observed. Conclusion -- The $2356 target price (Orange N) represents a critical pressure level and may serve as the main target price of this momentum move. -- In other words, for the momentum to continue, the price must surpass the critical pressure level at $2356. -- At that point, we will then turn our attention to the second target price of $2480. Not Financial Advice The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
OANDA:XAUUSD
by stock_adelie
Gold could make 1948 as its peak. Buy in the dip!Hi, everyone! Long time no see.. as i expected there's no severe recession ahead until 2026, just a few banks and tech startup companies collapsed but not causing a crazy global economic fraud like in 2008... this time is much more like 1999-2003 dotcom bubble, yes economic activity might be a little bit struggling, but not as insane as 1929 or 2008 I think gold could make its third top (2072) or double top (1948) before its going down to 1000s. According to my Gann Angle and Gann Level - Fibonacci Combo, at least gold will reach 1948 in just a few days. Best advice i could give to you was BUY IN THE DIP! Gold still pretty strong because it is still running at average of 2x1 angle or 200pips/daily bar. Trend changes will only occur when it reaches horizontal SnR (fibo was the most accurate, so far..) and 1x1 angle or 100pips/daily bar (the yellow diagonal line) I did a color coding on the gann angle to make a fast recognition, strong angle as light green to dark green -- mid level as yellow -- weak level as light red to dark red Also on the fib/gann level combo, i color coded 61.8 and 38.2 with yellow as an important level that mostly cause a reversal So, lets break it down.. 17/21 March 2023 (Most Important) - I expect the first 1948 top will happen at this day before the news release 22 March 2023 (Most Important) - A 5 days down after the fed's hiking their dollar interest rates, i expect a bearish bias bottoming at 1893 or 1909 or 1917. But sometimes people getting greedy and this could inverted. 27 March 2023 (Important) - I expect Gold has reach 1948.2 level -- but since its weekly stochastic didn't crossover yet, i expect a continuation with a slight reaccumulation at around that area. But because fed rate hikes, i don't know what's gonna happen next 28 March 2023 - Some 2 days of bullish continuation That's my current expectation for future weeks ahead, i don't give any responsibility in terms of capital loss or etc cuz i could be wrong Trade safety, and Cheers! H. Haidar
OANDA:XAUUSDLong
by Chartwatcher1996
What to eat while trading Bitcoin? (2025 target)Trading Bitcoin doesn't have to be hard. With proper food, we can increase the probability of our trades. There is no secret that a large part of the Bitcoin community is on a carnivore diet (a meat-based diet). They believe meat, especially red fatty meat, is essential for human health and brain function as it contains hundreds of yet-undiscovered vitamins that cannot be found in plants at all. Meat is extremely easy to digest and does not cause any allergic reactions; in other words, meat is easily accepted as a fuel for our daily activities. Brain function is important in our daily lives, especially when it comes to trading. I will share with you the top foods that are best to eat while trading Bitcoin. It's important to not overcook your steaks, as nutrients get destroyed with heat. That's why many people prefer to eat medium-rare steaks. The carnivore community prefers to eat beef or lamb on a daily basis and they refuse to eat fruits or vegetables. 1. Japanese Wagyu - Wagyu beef is rich in these essential fatty acids, which help reduce inflammation, support brain health, and boost overall wellness. Wagyu beef boasts a higher concentration of CLA, a fatty acid known to assist in fat loss, improve lean muscle mass, and support a strong immune system. 2. Tomahawk / Rib Eye Steak - As a high-fat and high-protein food, a bison tomahawk ribeye steak is a good source of certain nutrients, including protein, iron, and B vitamins. It's an excellent source of protein and fat. 3. Liver - Liver is a super food no one talks about. Liver contains complete mineral and vitamins profile, so you don't need to take any other supplements if you eat it. It's recommend to eat liver on a weekly basis to support your body with all micro and macro nutrients. Liver is not an allergen, so it doesn't cause any issues to the human body. Liver is the most nutrient food that you can eat, especially in raw form. Let me know your thoughts, what is your favorite food?
Long
by Xanrox
40
GMT will 10x in a few months! Buy nowTechnical analysis GMT is one of the most promising coins to hold for the next few days and weeks. We can see that the price has been stuck in this rectangular trading range for almost 4 months. Now the price is ready for a massive breakout! It's good to buy GMT now, as pullbacks will probably not be available. My Elliott Wave count suggests that we are now starting a wave (3), which is usually the strongest wave of all of them! What you probably want to do is trade a breakout of the first impulse wave. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades. What Is GMT? GMT is the native token of the FSL ecosystem, with a fixed supply of 6 billion tokens. GMT is well used in all FSL ecosystem products to be burned, used to unlock various functions and perks. Satoshi Lab (FSL) is a fast growing web3 product development studio. STEPN is a Web3 app that combines Game-Fi and Social-Fi elements, focusing on encouraging people to move more. Users equip NFT Sneakers to walk, jog, or run outdoors, earning tokens and mystery boxes. STEPN's goal is to promote a healthier lifestyle, help fight climate change, and introduce people to Web3.
BINANCE:GMTUSD.PLong
by Xanrox
10
Solana Price Analysis: Bulls Eye $230, $395, and $850 Targets Solana Price Analysis: Bulls Eye $230, $395, and $850 Targets Introduction Solana (SOL) is a high-performance blockchain that has seen rapid growth in recent years. The SOL token has reached new all-time highs in 2021, and many analysts believe that it has the potential to continue to grow in the years to come. In this article, we will take a look at the technical analysis of Solana. We will discuss the factors that have been driving the price of SOL higher, and we will identify potential target prices for the token. Technical Analysis The SOL/USD chart shows that the token has been in a strong uptrend since the beginning of 2021. The price has broken through several resistance levels, and it is now approaching its all-time high of $260. The RSI indicator is above 70, which suggests that the token is overbought. However, the MACD indicator is still bullish, and the price is still above the 50-day moving average. Target Prices Based on the technical analysis, we believe that SOL has the potential to reach the following target prices: $230 $395 $850 These target prices are based on the Fibonacci retracement levels. The 0.618 Fibonacci retracement level is at $230, the 0.786 Fibonacci retracement level is at $395, and the 1.0 Fibonacci retracement level is at $850. Conclusion Solana is a high-performance blockchain with a bright future. The SOL token has been in a strong uptrend since the beginning of 2021, and we believe that it has the potential to continue to grow in the years to come. We believe that SOL has the potential to reach the following target prices: $230 $395 $850 These target prices are based on the Fibonacci retracement levels. This article is for informational purposes only and should not be considered as investment advice. Do your own research before making any investment decisions.
Long
by sepehrghm210
EURUSD → Resistance pressure on the bearish trend FX:EURUSD is testing the support of the range formed inside the bearish trend. There is resistance pressure in the market. Bostic ( Fed ) stated that he now expects only one interest rate cut this year, thus this comment can be read as a hawkish attitude of the regulator. Bostic is often aggressive in his comments after Powell's speech The dollar index are in a bullish phase, which has a negative impact on the euro. On H4, the price is bouncing off the support and may test the nearest resistance before further declining on the trend. Resistance levels: 1.08597, 1.08975 Support levels: 1.07958, 1.07030 Technically, against the background of bearish trend, the resistance may affect the price accordingly, which may lead to a retest of the support with a subsequent breakout and decline. Regards R. Linda!
Short
by RLinda
3
GRT can 10x in a few weeks! Best time to buy now?Technical analysis GRT looks extremely good on the weekly chart. We can see that the downtrend ended on a breakout of the red trendline, and since then, the price has been going upward. I believe this coin will 10x in 2024 if you buy it at the current price. We should hit an all-time high in 2024, and in 2025, this coin will continue in the price discovery! Put a stop-loss below my support zone! Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades. What Makes The Graph coin Unique? The Graph is working to bring reliable decentralized public infrastructure to the mainstream market. To ensure economic security of The Graph Network and the integrity of data being queried, participants use Graph Token (GRT). GRT is a work token that is locked-up by Indexers, Curators and Delegators in order to provide indexing and curating services to the network. GRT will be an ERC-20 token on the Ethereum blockchain, used to allocate resources in the network. Active Indexers, Curators and Delegators can earn income from the network proportional to the amount of work they perform and their GRT stake. Indexers earn indexing rewards (new issuance) and query fees, while Curators earn a portion of query fees for the subgraphs they signal on. Delegators earn a portion of income earned by the Indexer they delegate to. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Long
by Xanrox
7
BTT can 200x in the next bull market. Time to buy?BTT (BitTorrent is one of the biggest torrent clients in the world. Fundamentals are strong, and technicals are as well. We have the biggest candle in history; this is a serious business. I am expecting at least 100x - 200x in the next bull market. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades! BitTorrent’s original goal was to disrupt the legacy entertainment industry and how consumers obtain content. Expensive and inefficient distribution networks were the main target, with original developer Bram Cohen seeing benefits in allowing internet users to distribute content among themselves directly. In the early 2000s, BitTorrent became the go-to P2P file sharing platform, with TRON stepping in 2018. Under TRON, BitTorrent has expanded its user appeal to those interested in decentralized solutions and cryptocurrency, as well as to its own user base. Among the added features are BitTorrent Speed, which uses the BTT token as part of its operations. BitTorrent has also branched out into paid services, offering several “premium” versions of its platform which include VPN capabilities and ad-free browsing. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!
Long
by Xanrox
45