Get started

Retracement

USDCHF technical analyses so given the chart pattern we have a broken trend on daily but in weekly everything is noraml and we can see that there is a good chance that market will hit the area and then we can look for entry on 4h timeframe where momentum shifts so you can take short here to that area with your own R/R but on that area based on fibo retracement on weekly you can look for long . but this is a game of probability so make sure to have your stop loss ready ! good luck ! Alien2a
Long
by Alien2a
🌧️ ORN Possible ReversalAfter the release of their trading terminal, ORN has been in a huge selloff (typical sell the news scenario). However, the retracement has been going on for longer than expected and there is still huge sell volume, causing ORN to be kind of oversold right now. According to Binance's order book depth, there's a huge wall of buy orders at around $17.4, so we can expect the reversal to occur around there. Meanwhile, selling pressure is decreasing, and faces a significant wall at around $19.5 - $20.0. Following the Fibonacci retracement, we can expect the price of ORN to continue its retracement to around the $16.5 - $18 zone, which we can target to buy in. Should you choose to do so, make sure to watch the Average True Range to set your stop losses below any wicks of the next Fibonacci line. As it stands, ORN stands to gain around 50% with a risk:reward ratio of around 1:6 due to huge overselling as confirmed by the Relative Strength Indicator approaching the lows for both 4h and 1D time charts. While ORN currently faces terminal issues with their servers, in the long term we see good things on their roadmap like more trading pairs and liquidity, as well as the release of staking which will allow passive income on the ORN platform, giving a bullish outlook for April. Buy: $16 - $18 Stop loss: $15.5 (Watch ATR) Take profit: $24.7 - $29.7 Note: This is not financial advice, and is simply an opinion. Always remember to do your own research.
OLong
by RainyTrader
ADA in possible last correction wave before next Impulse?BINANCE:ADAUSD Working mostly from 1D chart and using *fib charts above and below ( 3D, 5D, 8H, and 5H). I will check the lower times for confirmation or signs of momentum. IE: Steep slopes The Blue line represents the 1D Impulse wave with the estimated correction wave on the end. I used fib retracements to approximate a potential location of the low and the next high in the beginning of the next impulse wave. The White line is from 5H timeline, to see the fractal impulse waves in a lower timeline. Upper timelines don't contain enough overall information. Volume has been low and the last week has been fairly sideways. The VPVR: (1) & (4): Volume Area Down is greater (2) & (3): Volume Area Up is greater Looking at the VPVR from the prior uptrend shows what kind of Volume area ADA might need to get that kind of momentum again. NEWS and Other factors I've read that March is a consolidation month and it typically slows growth down. NFT announcements have spurred a lot of new interest but also potential scams with NFTs. My plan, NOT advice for you to blindly follow I will be waiting for volume confirmation or other indicators to tell me if we're about to spike down or up. I am waiting for this last dip that I'm expecting, then I'll buy and go long for the first wave of the next impulse wave.
by Erialos