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Fibonacci Retracement

GOLD → Area of Interest 2475. What's next? 2450 or 2500?FX:XAUUSD is shedding downward on the background of unexpected NFP, which was published on Friday. The dollar is rising, which is generally negative for the metal. But, globally, gold is still strongly bullish.... The first half of the week should be extremely quiet, as important news will not start to arrive until Wednesday. Traders are waiting for CPI, PPI, as well as the Fed meeting scheduled for September 18, where they are expected to make a decision on interest rate cuts. A rate cut makes currencies cheaper, which only increases the interest in gold. Technically, the price of gold can't consolidate above 2500 and is trading below the critical level of 2494, indicating buyer weakness, which goes into the accumulation or waiting phase.... Resistance levels: 2493, 2500 Support levels: 2485, 2475, 2450 Technically, it is worth considering a decline and a retest of 2475, as after the upward rally from below there is a huge pool of liquidity that attracts the market. Further, further scenario will depend on the market reaction to the range support: False breakdown may give a chance for growth to 2500, and breakdown and consolidation below 2475 may provoke longsqueeze to 2450. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
16
BTC at some support levelsLets look at BTC. Some people have been saying that its getting ready to take off again, so I wanted to do my own analysis. I've got three indicators I'm using here. - Wedges/channels (the thin green lines) - Fibs - the gold colored fib levels - Wick Strength - the oscilalator at the bottom First, Wedges. We can see that price is at the bottom of a wedge/channel. Its been pretty consistent on the plotted wedges that breakouts have been significant. However with the support of the Wick Strength as well as support of the 0.382 fib level, it looks like we might return to the top of the channel rather than crashing through the bottom. Next, Fibs. Fibonacci are one of my favorite technicals and popular for a reason. Look at all the times price has bounced right off a near-exact fib level! Recently BTC hit the 0.5 with a STRONG support. And here we are again at the 0.382. Looking left on this line we can see multiple wax and wick bottoms rejecting at this price point in recent months. Lastly, Wick Strength. I'm still learning this one as its new, but here's what I've seen. In up markets, Wick Strength is low, because there is constant downward pressure from all the bears. So the top wicks are long, and the bottom wick are short. (Indicating that bulls are stronger since wax is bullish, but bears still have a voice and top wicks are longer than bottom). In down markets, its the opposite, and the Wick Score goes up due to longer bottom wicks by the bulls. Here, Wick Strength is relatively high actually, and we're in a flag price action pattern. Looking like Wick Strength will come down as the market takes off bullish again. Just at thought! We'll see what happens. What do you think?
COINBASE:BTCUSDLong
by marketscripters
GOLD H1 Chart analysis 100%Hello Traders! Follow the instructions. If the price consolidates between $2498 and $2497, gold may touch the $2480 level before bouncing back to $2528. A break above the strong resistance level could potentially send gold to new all-time highs (ATH). Bullish Opportunities: 1. 2495 - 2490 2. 2477 - 2487 Bearish Opportunities: 1. 2525 - 2530 2. 2546 - 2560 (Only if the Strong resistance level Breaks and Gold Reaches its new high). Possibility: waiting for geopolitical situation as it getting worsting. I'll Update as it needs to be updated. Use proper risk management Or money management and follow my instructions properly. Don't forgot to support by liking or following!!
FOREXCOM:XAUUSDLong
by sabellaFX
Fibonacci Retracement swing golden levels breakout-reversalThe "golden levels" — specifically the 1.618 , 2.618 and 3.618 retracement points — hold a special place. These ratios, derived from the Fibonacci sequence, are revered for their tendency to act as crucial support and resistance zones.Fibonacci sequence expresses the golden ratio 1.61803 and the market fullfills the structure most of the time by retracing the golden levels or zones. The market has swings and fibonacci retracemnet tool helps to find the exact levels of breakout and reversals based on market trend swings. Here, after breaking out the level there must be some sustaining candles formed to make a position in the market. Or, if the candles sustain over the level, it can turn into a reversal point. The market follows an integrated psychology of traders,brokers,makers,takers.Therefore,we must wait for some sustaining candles and the candles must retrace the level for a continuation or reversal of the trend. -Asif Hassan Risan 7 september,2024
by Asif_Hassan_Risan
4
GOLD → Aggressive bulls and double bottoms. What's next?FX:XAUUSD is testing the support of the range, forming a double bottom and distribution. Buyers are not ready to say goodbye to 2475, aggressively holding this area. Price is heading towards the upper end of the range. Bulls held global support, bringing price back to ATH amid expectations of key economic data from the US. NFP, and inflation data on Friday weigh on markets' assessment of the size of the Fed's rate cut this month. Gold traders will be focused on ADP private sector employment data, Initial Jobless Claims and ISM services PMI. Technically, the focus is on the 2526 - 2504 range. Such a strong move (distribution) is fraught with a false breakdown and rebound, but there are fundamental nuances: favorable news can strengthen the rally and break the resistance, while negative news can turn the price all the way to 2475. Resistance levels: 2526, 2531 Support levels: 2510, 2504, 2494 Emphasis on the retest of resistance 2526. High probability of a rebound to 0.5 fibo. Further, the market will be influenced by economic data, which will be published from 12:15 GMT. It is not excluded that the price will reverse earlier or fly to 2550. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
43
USDJPY → Consolidating before the news.... FX:USDJPY has been in consolidation for a long time, correlating with the dollar. Traders are waiting for key news and are not ready to act early. The currency pair is in the downward phase, which is a consequence of the strengthening of the Japanese yen on the background of the dollar's decline. The Central Bank of Japan actively considered the issue of raising rates, but postponed this step for later because of destabilized markets. Today is an important report on inflation in the USA. So far, everything is going according to the Fed's plan. Markets are actively plotting the start of a Fed rate cut in September. Technically, the bearish trend may continue, there is a huge pool of liquidity above 147.9, which may be liquidated before further decline. Resistance levels: 147.9, 150.2, 150.86 Support levels: 146.29, 144.04 Technically and fundamentally we have prerequisites leading to a possible decline. We should wait for news to take some actions.... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDJPY ;) Regards R. Linda!
Short
by RLinda
26
I Just Bought Back-In To Gold @ A Fib - Retracement As I have been saying so far during Asia Friday trading I had no Long positions in Gold. Squeezed out like everyone else. (I don't know how those people do it who buy on weakness & accrue - I have to take a page out of their book). The 'funny' thing is, my old broker Fusion Markets phoned me about a month ago to say that I was no longer allowed to accrue Gold & Silver overnight & longer term. Because that is exactly what I was trying to do before. Fusion Markets said, ASIC rules that came in for Australia now make it illegal to accrue Gold & Silver overnight. I was pretty p....off to say the least. My gut feeling is that the Broker did want me to Capitalise on the FED reducing interest rates in 2 weeks time and the highly probable scenario (not 100%) that Gold and its price will 'scream off the roof'. I changed brokers the next day to Eightcap. They are great, even if I break my margin, they don't jump down my throat, and I break it all the time with my aggressive style of trading when I see an opportunity I am very sure about. I digress. Here are the Fib levels where I got into gold. I am not very confident about the Gold price holding up. But it depends on whether the USDX has a rally.
EIGHTCAP:XAUUSD
by Easy_Explosive_Trading
1
EURUSD → A retest of the liquidity zone. Ready to go to 1.130FX:EURUSD is testing the liquidity zone within the correction. False breakdown of the channel boundary may form another bullish potential for continuation of growth to 1.1300 The currency pair forms a false breakdown of 1.1123, after which it enters the correction phase amid a strong market. The price is testing 0.236 fibo on D1, forming a false breakdown we get a reaction in the form of a pullback. On H4 the situation is even more interesting: false breakdown of the support conglomerate: 0.5 fibo + channel boundaries, which only strengthens the bullish set-up. Today the focus is on CPI in the Eurozone, as well as Core PCE in the US. High volatility is possible and the news may set a short-term tone in the market. Resistance levels: 1.1099, 1.1201 Support levels: channel boundary, 1.1061, 1.1047 The task of the bulls is to keep the defense above the resistance of the ascending channel, as well as above the level of 1.1099 - 1.11, in this case the price will consolidate above the lower boundary of the new bullish channel, which will open for us the potential for growth to 1.1300. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:EURUSD ;) Regards R. Linda!
Long
by RLinda
4
$BIDU | Allocation | Market Exec | Technical Confluences: - Price is considered at Oversold conditions in the D1, Weekly and Monthly Timeframes - Taking a Fibonacci Retracement from the beginning to the high of BIDU, price action is now at the 78% Fibo retracement - Price levels coincides with a Demand Zone which has been a strong demand zone over many years every time these levels are tested Fundamental Confluences: - NASDAQ:BIDU is referred to as the 'Google of China' and has been diversifying it's offering into AI, cloud services and autonomous driving tech. - Locally, they are up against Tencent and Alibaba in the digital ads, AI and cloud services but on a global scale, Google and Microsoft are there against them - Being 'Google of China' gives them the brand recognition and giant user-base helping ads revenue - Financially, they have been reinvesting most of their profits back for R&D and business expansion which for me, is important for Baidu to leave their mark strongly and remain competitive globally. - Recent earnings showed that they missed Revenue slightly but it's higher than previous Revenue results; EPS has beaten estimates most of the time as well - However, Baidu has high reliance on the Chinese market and makes them vulnerable to economic downturns or regulatory matters which is the current situation for them now ----- NASDAQ:BIDU is a long-term hold for me and considering it's value has dropped, it could be a value play at 9x forward earnings. I have previously got my first entry into it early August. Prices is still pretty much at the same levels. I will still look to add on more in the Target Zone area and hold onto it for now Will revisit it again later on but it's still allocation period for me. If price breaks below 70 then, I may reconsider re-shifting my target buy levels -----
NASDAQ:BIDULong
by weekendanalyst
1
LTC → Price exit from accumulation ↑BINANCE:LTCUSDT is coming out of accumulation, breaking the structure of the “descending wedge” pattern - a rather strong bullish pattern. Price is still pinned by resistance, but the bulls have a chance... Globally, there is no trend in the market. The price is in a sideways movement between 114.0 - 56.0, which I consider a positive reason for a possible rise, as the price moves between the levels in a range. But we have prerequisites for possible growth (consolidation above MA-50, break of the wedge resistance), theoretically the price can head towards the resistance of the global range. Emphasis on the area of 0.5 fibo - 67.8. If the bulls successfully manage to keep the defense above the mentioned zones, in the mid-term the coin can show a good realization towards 76.9 - 88.6. Resistance levels: 67.8, 76.9 Support levels: descending line, MA-50, 0.5 Fibo Perhaps the primary retest of 67.8 will not bring success and the price may form a small correction, but the gradual return of the price to the retest will increase the chances of a breakout. A fixing above the level will be a good signal for growth! Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:LTCUSDT ;) Regards R. Linda!
Long
by RLinda
5
GOLD → Risk zone! One step away from a prolonged correctionFX:XAUUSD is trading in the lower half of the key range. The price failed to hold above 2493, the market is spilling back to support. But, there are nuances pointing to both a rebound and a possible fall..... The trend is still bullish. The price is entering the risk zone of 2470 - 2480. If the bulls do not keep the price above this zone, we should expect a prolonged correction. But, there are Initial Jobless Claims and NFP report ahead, which traders are waiting for so much. The economic nuances can both strengthen local movements and revive the global trend. On H1 the price is strongly declining to the support, such a fast movement is fraught with a rebound, which can bring the price back to 2493 - 2500 and this is probably the key movement. But there is a but everywhere! It is hard to tell from the volumes that the buyer is ready for any action. False breakout and consolidation above 2477 may affect the growth. Resistance levels: 2493, 2500 Support levels: 2477, 2473, 2450 But the fall is not excluded. If there is no reaction to the 2477-2473 zone in the form of a rebound, and gold starts to consolidate near the support, then we should consider a decline, the key target of which could be the 2450 zone and the trend line on D1. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSD
by RLinda
16
BITCOIN → Manipulative ShortSqueeze. When to prepare for growth?BINANCE:BTCUSD is not falling below 50K, which is expected by many. The flagship continues to consolidate ( which has been going on for half a year now ) and accumulate potential at the expense of some traders or another, mostly at the expense of sellers. Why am I being positive? . In the second half of August, BTC tried to move into the realization phase and headed towards 70K, but ran into a block of limit orders ( resistance ) at 65K - MM is not ready to let the price go. Having formed a double top, the price returns to the range confirming the fact of false breakdown and liquidation, as a consequence of such actions MM has an interest - liquidity from below ( for this reason I am waiting for initial decline with subsequent growth ). The chart above shows the key zones and possible scenarios to pay attention to when forming your strategy There is no constructive reason for the formed fall and therefore this movement can be considered purely manipulative, the purpose of which may be to buy up the asset through panic selling as well as prolonged accumulation before realization. Resistance levels: 59600, 60500 Support levels: 58700, 57900, 57736, 56078 . The market is still strong but in a range. Any attempts to sell-off are aggressively bought out by whales ( liquidity withdrawal ). On W1-M1 a stop is forming after a strong rally, which is considered as a controlled consolidation within the bull cycle, which is far from ending. The high probability scenario of that technical nuance is an upward distribution of accumulation. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSD ;) Regards R. Linda!
Long
by RLinda
42
BTC/USDT 4Hello everyone, let's look at the 4H BTC to USDT chart, in this situation we can see the price keeps below the downtrend line. Let's start by setting goals for the near future, which include: Target 1 59354 $ Target 2 61918 $ Target 3 65572 $ Target 4 70217 $ Now let's move on to the stop-loss in case the market continues to decline: Stop loss= 56,828 $ Stop loss = 54,943 $ Stop loss= 52,196 $ AND Stop loss = 48,733 $ Looking at the RSI indicator, we see That it is approaching the upper limit again, which may result in a price recovery in the coming hours.
by cryptodailyuk
1
GOLD → Change of Mood (local). Correction phaseFX:XAUUSD is breaking the structure of the ascending channel amid the counter-trend correction of the dollar (fundamental reasons). Price closes in the range of 2526 - 2477, what could this mean? On D1, the market is bullish both locally and globally. But, fundamentally and geopolitically the situation is slightly changing, which favorably affects the dollar exchange rate, against which gold goes into a local phase of correction. There is low liquidity in the market today due to the closed US market. On H1, the focus is on the resistance 2505 - 2510, sma. False breakdown and price consolidation below these zones will confirm the absence of bullish potential, which may lead to price correction towards the lower boundary of the key range. Support levels: 2483 (D1), 2493, 2477 Resistance levels: 2505, 2510, sma The focus is on the global range 2526 - 2477, the price continues to trade inside and does not hint at a possible exit from this channel, accordingly, it is best to use the inturidian trading strategy. The main target is liquidity below the key support zones Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSD
by RLinda
16
$AVGO | Watchlist | Buy Limit |Technical Confluences: - Stochastics is moving towards Oversold conditions - Elliot Wave count seems to have completed a Wave 4 (A,B,C count) and is starting it's Wave 5 move (assuming it is not an extended Wave 4 - Price has formed new Supply Zone area with the price rejecting that Zone 3 times and has formed a descending Trendline Fundamental Confluences: - Broadcom is considered a leader in semiconductor domains and it has a diverse product range; making them sought after in technological ecosystem - Good management team that focuses on M&A for strategic growth and market pentration - Good amount of FCFs which helps in their dividend policies ----- NASDAQ:AVGO will be releasing it's earnings soon and if there is any opportunity arising, I have placed orders to buy AVGO at my Buy Limit Zone areas. If earnings is stellar, price should continue to test the Supply Zone again and if that breaks, I will likely aim for a Buy Stop order above the Supply Zone. Will be putting this on my Watchlist. -----
NASDAQ:AVGOLong
by weekendanalyst
SWING IDEA - NETWORK 18 MEDIANetwork 18 Media , a prominent player in the media and entertainment industry, is showing signs of a promising swing trade opportunity based on several key technical indicators. Reasons are listed below : 75-80 Support Zone : The 75-80 level is a crucial support zone that has held multiple times, indicating strong buying interest at these levels. Bullish Engulfing Candle on Weekly Timeframe : The formation of a bullish engulfing candle on the weekly chart suggests a reversal of the previous downtrend and indicates strong buying pressure. 0.618 Fibonacci Support : The stock has retraced to the 0.618 Fibonacci support level and is now bouncing back, indicating a potential reversal and continuation of the uptrend. Breaking Consolidation Phase of 2+ Months : Network 18 Media is breaking out of a consolidation phase that lasted over two months, signaling the beginning of a new bullish trend. Decisive Break Above 50 EMA : The price has decisively broken above the 50-day exponential moving average, confirming the bullish sentiment and providing a strong support level. Target - 105 // 120 // 135 Stoploss - weekly close below 81 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:NETWORK18Long
by Visionary_Growth_Insights