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Fibonacci Retracement

GOLD → Consolidation after the fall. Trading inside the rangeFX:XAUUSD is forming consolidation in a new bearish plane after a strong fall on Wednesday. The emphasis is on 2622 - 2581. The fundamental background is negative and technically the price is testing the lows. On Wednesday, the Fed adopted a more conservative approach to monetary policy, laying down only 2 rate cuts in 2025, which generally had a negative impact on the whole market except for the dollar, which is breaking through local highs. Today traders await the release of the PCE, which is the Fed's preferred measure of inflation. Any surprise in the PCE data or an escalation of political uncertainty could push metal prices up. From a technical point of view, the gold market remains in the previously mentioned consolidation, and prices fluctuate in wide ranges, which is generally logical for the end of the calendar year: reduced liquidity and increased volatility... Resistance levels: 2616, 2622 Support levels: 2589, 2581, 2560 Since the price is inside the consolidation, it is worth considering trading from the boundaries of this range. In the long term, I expect a retest of the key resistance 2616-2622 in the form of a false breakdown and a fall towards local lows Regards R. Linda!
FX:XAUUSDShort
by RLinda
3
GBPUSD → One step away from breaking support and falling awayFX:GBPUSD is facing difficulties. Negative fundamental background, strong dollar and price entry into the selling zone gives a bunch of preconditions hinting at the continuation of the fall Yesterday the UK GDP came out, which remained at the same level, there is no driver for GBP at the moment, but there is for USD, which is growing after interest rate cuts, but the growth is not because of this, but because of hints of stopping the cycle of further rate cuts and the change of officials' mood to hawkish, which in general, against the background of Trump's policy indicates medium-term potential. Technically, the currency pair is testing the risk zone, a false breakout will form a rebound reaction and I think it will be a short-term reaction. Resistance levels: 1.257, 1.2597, 1.2665 Support levels: 1.2488, 1.245 After the false breakdown, the currency pair may test the local resistance. But retest of the support within 1-3 days will play an important role. Formation of a pre-breakout base at 1.2488 will strengthen the potential for further decline With Respect R. Linda!
Short
by RLinda
2
GOLD → Interest rates are down, but why is gold falling?FX:XAUUSD falls to 2581. Yesterday's news had a negative impact on the market and it's not about rate cuts. Technically the price confirms the bearish nature of the market. The main reason for the decline in gold prices is the Federal Reserve's caution about lowering interest rates amid the latest economic data. The US central bank lowered the interest rate by 0.25% to the range of 4.25%-4.50% as expected, but for the next year it forecasts 2 rate cuts, which is much less than expected. The Fed's hawkishness has played its role: the dollar is rising, markets are falling. Today all eyes are on GDP and initial jobless claims. Technically, the price is out of the global channel, breaking the support, gold updates the low to 2581. Resistance levels: 2620, 2630, 2636 Support levels: 2616, 2612, 2603 After updating the low, a retest of the previously broken channel boundary and imbalance zones is formed. False breakdown of key resistance, for example 2620 or 2630 and subsequent consolidation of the price below these zones may lead to further decline. Regards R. Linda!
FX:XAUUSDShort
by RLinda
10
ETHEREUM → Consolidation after a bearish trend breakBINANCE:ETHUSD is consolidating within the flat boundaries of 4085 3530. In general, there is a bullish trend, the fundamental background is also favorable except for yesterday's news, which creates a small risk... The price is at a strong resistance between 4090 and 4100 and it will take a lot of energy to break this area. Yesterday's news was generally controversial but with a negative bias. Despite the decline in interest rates, there were strong hints of stopping the decline and taking a hawkish course. Bitcoin is giving a small correction against this backdrop, which is negative for altcoins. Ethereum technically did not break the bullish structure, a very strong support area of 3530 - 3440 is formed on the chart and with high probability a retest is possible, a liquidity grab with the aim of further growth. There are risks for further fall, they can be taken into account, but we can consider an attempt of growth as a priority. Resistance levels: 4086, 4100, 4372 Support levels: 3530, 3440, 3261 Since the price is inside the consolidation, our strategy is simple - trading from the channel boundaries. Accordingly, based on the current situation, we should consider a retest of support before further growth. Regards R. Linda!
Long
by RLinda
5
NZDUSD → The price could fall another 2.5%FX:NZDUSD is forming a return to a strong support zone after testing it after a year. Against the backdrop of a rising dollar, the chances of a support breakout are growing. The downtrend, rising dollar, weak fundamental background for NZD play a key role in forming a bear market. The price is testing the key resistance and trying to enter the selling zone. At the moment the price is restrained by the descending channel support and if the price manages to break this line and consolidate below, strong selling may be formed further, as there are no obstacles below it until 0.562. Resistance levels: 0.577, 0.5817 Support levels: 0.575, 0.562 I do not exclude the possibility of correction if the buyers hold the support. But there is no chance of a trend change. Another retest of the support may lead to a breakdown and further fall to 0.562 Regards R. Linda!
Short
by RLinda
2
What's next for BTC? Will the correction go lower?Hello everyone, I invite you to review the situation of BTC, which has currently had a -15% price correction. This is a natural correction in the growth cycle, and what's more, much larger corrections at 20% or 30% levels often appeared in bull cycles. Let's start with how the price moved in the local growth trend channel, in which we can see how dynamically we went down to the lower zone of the channel, which translated into a further drop in price reaching the support level at $ 91,712. In such a situation, it should be taken into account that very often leaving the channel gives a movement close to the channel height, which could cause the BTC price to drop to the support level at $ 84,072. If the current rebound from the level of around $92,000 ends the current correction, however, here we see how the level of $95,004 poses effective resistance for the price, only when it is broken again will it go further to the area of ​​$101,000, and then again move towards the strong resistance zone from $106,000 to $108,000. On the RSI, taking into account the 12H interval, we have a visible descent with crossing the lower limit, which in previous situations gave rise to renewed price increases.
COINBASE:BTCUSDLong
by cryptodailyuk
Nifty Short Term Analysis. Nifty today has given a poor closing below 200 days EMA but the only saving grace can be that the closing is just above Mid-Channel support of 23500 and Important Fibonacci support of 23263. These Two supports are broken then more hell can break loose and we can get to see the next Fibonacci supports being tested. The next Fibonacci supports can be near 22509 or 21585. On the positive side if either of the support is held and then we can see a new rally in Nifty wit resistances at 24718 and 25347. It looks like Nifty will take some time to reach new highs as the the mode is bottom searching and consolidation as of now. Fresh rally and Bullish recovery can start only after we get a closing above these 2 levels. However, this can be a good time to go long by picking good blue chip stocks available at good valuations. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Alikze »» LTC | Ready to defeat the dynamic triggerIn time W1, after a three-wave correction cycle, now after an upward movement with the failure of the swing and pullback, it has encountered support in the area of 61.8 Fibo, which must now be above the $75 range to break the dynamic trigger. Consolidate to advance to the $100 range supply zone. Therefore, if it is placed above the area, it will have the ability to grow up to the specified supply area. We should probably see a demand for failure in this area. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️
Long
by alikze
6
Potentially a good time to switch from BTC to ETH.Hi all, let's look at the 1W ETH to BTC chart, in this situation we can see how the price is moving below the downtrend lines, in this situation we have several such lines which also indicate strong resistance places for the price in a given move. Currently, a correction is visible, but as the trend reverses, resistance levels are visible at the following levels: T1 = 0.04504btc around 21.5% T2 = 0.05346btc around 44% T3 = 0.06004btc around 61.5% T4 = 0.06652btc around 79% T5 = 0.07623btc around 105% Now let's move on to stop-loss in case the market continues to fall: SL1 = 0.03166btc SL2 = 0.02213btc SL3 = 0.01612btc On the RSI indicator, we have a visible movement at the lower end of the range, which could potentially indicate an upcoming increase, here it is worth watching the trend line under which we are moving, because the moment of approaching it gives a renewed price recovery.
by cryptodailyuk
BTC $95,105 is as low as it gets!BTC Analysis (3D) 12/18/2024 It's likely one of these two scenarios for BTC plays out. Depending on the FOMC it could get invalidated but this is what I'm seeing on the charts at the moment. • Slow grind to 120-130k or • Retrace slightly to about 95K where we almost certainly will get SOME bounce, as that is where the preliminary fib line lies on the DFR as well as an anchored VWAP and it matches with the anchored Volume Profile (Im positive one of the MAs is also in this range). If this level holds, we will most likely create a new ATH at $120,000+ Thoughts?
Long
by poolsideliquidity
VIRTUAL - Short Setup with 30% PotentialWe are currently observing a completed 5-wave structure and the emergence of wave A, which found support around $2.5. Now, price action is forming wave B, which aligns with a resistance area marked by the Fib 0.618 retracement and the daily level. Trade Setup: Short Entry: For a riskier entry, you can enter now and ladder your position up to the Fib 0.618 and 0.718 levels. A stop loss should be placed above the 0.786 Fib for protection. Head and Shoulders Projection: Using the bar pattern and the length of the left shoulder, we estimate that wave C will form over the next 2-3 days, confirming the head and shoulders setup. Take Profit Target: Low at $2.3266 – First target for securing profits. Overall Target: The 0.618 Fib retracement of the entire 5-wave structure at $2.1002. Risk-Reward (R:R): Potential for 3:1 and 5:1 trades, offering a gain of 20% - 30%. Additional Notes: If dOpen is lost with volume confirmation, this provides an opportunity to add to the short position. With the holiday season approaching, this short setup allows for some time off the screen while still capitalizing on market movements. This setup offers an excellent blend of risk and reward, with options for both aggressive and conservative short entries. Happy trading.
Short
by SiDec
6
GOLD → Ahead is the Fed and the rate decision. What to do?FX:XAUUSD tested strong support on Tuesday at 2633 before traders moved into a buying phase, hoping a possible rate cut would support their intentions There is a 93% probability that the Fed may cut interest rates by 0.25%. But the thing to pay attention to here is the general backdrop - the Fed's stance. Hawkish hints about 2025 could have a much bigger impact than a rate cut, which is partially already factored in by the market. Any hint of fewer rate cuts next year could be a growth driver for the dollar. Powell's comments play an important role in assessing the situation for next year against the backdrop of Trump's policies Downside risks for gold are quite high due to the controversial situation in favor of the Fed's hawkish stance. Technically, the emphasis is on the local channel. A price exit beyond 2658 or 2633 will be accompanied by a strong impulse. Resistance levels: 2658, 2675 Support levels: 2645, 2633, 2620 The situation is very controversial and complicated, that's why several directions relative to the key zones are indicated on the chart. Everything depends not only on the actual rate numbers, but also on the Fed comments, namely we are interested in the tone and stance for next year. Recommendation - skip trading before the event and wait until volatility decreases to be able to adequately perceive the market position Regards R. Linda!
FX:XAUUSDShort
by RLinda
11
USDJPY → Consolidation of price in the sell zoneFX:USDJPY reaches a strong resistance at 153.87 within an uptrend. Will this direction continue, as the Fed rate meeting is ahead.... Fundamentally, today is a big day for the markets. At 19:00 GMT the Fed rate meeting, where with a 93% probability the decision to cut interest rates by 0.25% will be made, which will make the dollar less attractive, but for how long, given Trump's policy? Accordingly, the dollar is in a consolidation phase, traders are waiting. If the dollar starts a downward correction, it will affect the currency pair accordingly. But I do not exclude that on the background of high volatility the price may form a retest of resistance and a false breakout. Resistance levels: 154.95, 156.75 Support levels: 151.44, 159.69 At the moment, after the retest of 0.79 fibo and the key resistance at 153.877, the price is consolidating in the selling zone. The fundamental background may increase the pressure, which may lead to a fall. Regards R. Linda!
Short
by RLinda
5
GOLD → Manipulation ahead of a possible rate cutFX:XAUUSD is declining after a false breakout of 2658 (0.5 fibo). We can say that this is a manipulation before a possible growth. Technically gold has a neutral trend. The emphasis is on support. Markets continue to consider the possibility that the Fed will lower interest rate by 0.25% on Wednesday. This could spark a bearish rally in the dollar, which would be favorable for gold, which is heading for support. But here we should also take into account the comments of the Fed, which based on economic data is beginning to question its decisions and change into a hawk. The suspension of the rate cut cycle in January may put pressure on the markets, including gold, but this problem is postponed until 2025. Today all eyes are on retail sales. Technically, gold is flat and heading for strong support.... Resistance levels: 2646, 2658 Support levels: 2633, 2620, 2617 Price is heading towards support before the news. Manipulation before a possible rise? The probability is high :) We are waiting for support retest, false breakdown and possible growth to the mentioned targets Regards R. Linda!
FX:XAUUSDLong
by RLinda
12
XRP → Flag on the back of a strong rally. Going higher?BINANCE:XRPUSD after a strong rally forms consolidation in the format of a flag. According to technical aspects it is a prerequisite for continuation of the main movement. The price is testing the resistance of the figure... There is not much left to the key point - ATH. After a strong bullish growth the coin has been consolidating for two weeks, in general, on the background of a strong bull market this may be enough. Now we should wait until the price leaves the channel and the bulls keep the defense above the key zones, for example 2.658. In general, the potential of the project is quite positive, a lot of problems have been solved recently, which put enormous pressure on Ripple. Resistance levels: 2.6585, 2.8724, 3.063 Support levels: 2.473, 2.20 The coin is accumulating pre-breakout potential in the upper part of the local channel, which generally indicates which way the price is going to go. Breaking through resistance and consolidation of the price above 2.6585 will be a good confirmation of readiness for growth. Regards R. Linda!
BINANCE:XRPUSDLong
by RLinda
15
Virtuals Protocol: +16,850% Surge Nearing Its End?Virtuals Protocol has experienced an astronomical +16,850% surge in price over the past 164 days, marking a parabolic advance that appears to be nearing exhaustion. Price action suggests that the final 5th wave of this bullish cycle may be completing, raising the question: Is Virtuals Protocol set for a correction, or is there still upside potential? Key Observations: 1.) End of the 5th Wave: The Elliott Wave count indicates that the asset is likely completing the final 5th wave of a large bullish cycle. Parabolic moves of this magnitude typically end with a sharp correction as profit-taking accelerates. 2.) Weekly RSI Overbought: The RSI on the weekly timeframe is at 95, signaling extreme overbought conditions. Such elevated RSI levels are unsustainable and often precede corrections to reset market momentum. 3.) 6 Consecutive Bullish Weekly Candles: A string of 6 green weekly candles suggests strong bullish momentum but also hints at exhaustion as buyers may struggle to sustain such momentum. 4.) Fibonacci Target and Weekly Open Confluence: Using a Fibonacci retracement from the current wave, the 0.618 level aligns perfectly with the Weekly Open (wOpen) at $2.711. This confluence zone serves as a strong short-term take-profit target for short sellers or a potential re-entry point for bulls looking for a correction. Outlook: Bearish Scenario: The completion of the 5th wave and the extreme overbought RSI suggest a correction is imminent. A retrace towards the 0.618 Fib level ($2.711) is a highly probable scenario. Bullish Continuation: For further upside, the price must consolidate and find fresh buying volume to support continuation beyond the current highs. Conclusion: Virtuals Protocol is flashing clear signs of exhaustion, with extreme weekly RSI levels and a completed Elliott Wave cycle. Traders should watch the $2.711 zone closely as a potential correction target, with the 0.618 Fibonacci retracement and Weekly Open providing strong confluence.
Short
by SiDec
GOLD → Correction before a possible fall FX:XAUUSD is moving into the correction phase amid last week's economic data. The price is returning to the channel and in general confirms the bearish character on the market. Markets are ready for a 0.25% interest rate cut, but traders are waiting for hints on the Fed's stance: whether the Fed will continue to cut rates, go into a wait-and-see mode, or hint at a rate hike based on last week's economic data. Traders are eagerly awaiting the Fed's decision, which will be announced on December 18. The gold price is also receiving support from renewed tensions in the Middle East and political turmoil in South Korea. Technically, after the false breakout of 2721 a deep correction is forging, which generally develops into a localized downtrend. The price is approaching the panic zone 2615-2600. At the Asian session a correction is forming and it is worth paying attention to the key resistance zones Resistance levels: 2667, 2675, 2685 Support levels: 2646, 2633 The price is heading towards the imbalance zone within the correction. A quick approach and retest of resistance could trigger a rebound. Traders may enter the phase of profit taking before strong news Regards R. Linda!
FX:XAUUSDShort
by RLinda
4