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Retracement

Is this an uptrend or not?The combination of the two tools Fibonacci Expansion and Retracement could indicate some important price levels for understanding the mood of the exchange rate. The most important dilemma that arises from this approach is if the last downward movement is considered as a correction of the main trend. Looking at the chart, it seems that Friday's close was marginally below the price level of FR 23.6. It may take some time for the downtrend to be finally confirmed and the exchange rate to return to an uptrend. An entry point higher than the FR 50.0 price level would be a safe choice. Then, it seems that some confluence levels emerge which can also be considered as target prices. As shown in the chart these are 0,7315 and 0,7437.
by UnknownUnicorn214400
BTC bitcoin weekly retracement warningbeing about 4k above the developing weekly pivot which recieves price action as a magnet would nearly every time price opens far away from it... I just wanted to post this so that people do not get too ahead of themselves with the weekend price action. It is a common occurance and that being said I would also like to note that there is still another full day+ when price can be brought higher or lower and thus the developing weekly pivot (i.e the reversion magnet) could be plotted to be higher or lower than here. Yet no matter if we move higher or lower on sundays price action if it is upwards the retracement of this size will "still" happen, except it will just be from a higher point. Often time when it is this ahead of the developing pivot it can happen even prematurely on sunday itself in anticipation for such price reversions. No matter how you handle it,... whether trying to short to the coming pivot or waiting to buy the dip on it. It is good to be aware of it
COINBASE:BTCUSD
by Gunslinger2005
6
Small Roblox Short OpportunityRoblox originally sold for $45. I am assuming that there are institutional and seasoned investors in this asset. This isn't just being pumped by wallstreetbets. There will be significant resistance at $90 as people begin to sell half of their RBLX holdings to eliminate their risk entirely (removing principle). If things go organically, I see no reason to not pick some shares back up at $60 to $70. This is a solid company after all. People can also choose to sell 3/4 of their stock at $67.50, but that would serve to be an excellent stop loss right now. Anyone who bought earlier today has the opportunity to make a 50% to 100% profit with a single day trade.
NYSE:RBLXLong
by Hemlocked
22
Bitcoin correction not over yet? Fibonacci Retracement is KEY!I've recently published an idea regarding a bearish scenario for Bitcoin, very similar to this one. Turns out it didn't work as expected. However, the analysis is still valid, but need some adjustments. These adjustments are shown on this new idea. CRITICAL TIME FOR BITCOIN: Bitcoin might be drawing an Elliott ABC corrective wave. Wave A is already complete and wave B *looks like* has just been finished as well right now. >> Here's why: According to Elliott wave's theory, during a corrective ABC wave, 'wave B' can go up to the maximum level of 0.786 on the Fibonacci retracement based on wave A. And that's EXACTLY what just happened! We are at this very moment testing this level and a clear resistance here might be a great signal for a short setup. If bitcoin struggle to break this level, I'll keep you update about a cool short position. Now, keep in mind we are facing huge money printing in the USA and that might very well affect Bitcoin price, as it is a getaway for inflation and an excellent investment for the long term. This could trigger the Bitcoin price to ignore this correction and let the bulls take us to new highs. Always look at bulls AND bears and try to find the strongest one. Trade safe.
COINBASE:BTCUSDShort
by B4Baggio
15
Gold analysis (09.03.2021) - "End of correction?"Hi all Very interesting place for GOLD. After quite positive news with vaccinations, GOLD as a safe-haven asset lost its growing momentum and experienced correction that as for now stopped at the psychological level of 1700 and Fibo 61.8 which are main arguments to possibly go long over here. Feel free to comment, give your thoughts. Would appreciate it if you like it! Disclaimer! This post does not provide financial advice. Always do your own analysis. Be aware that only you are responsible for your trades. Trade safe and keep in mind the risk!
TVC:GOLDLong
by AGAdam
BTC Still Could Touch 38-42k Target Before Further UpsideShort post here just as a word of warning. I feel that there is far too much bullish sentiment at this point. Long term, I also am a bull. However, shorter term, it is still possible we could retract further. Many traders are over-leveraged without sufficient cause. Yes, we could pop and break above the downtrend we are in. This is certainly a very real possibility. But I don't see too many indicators that we have done this just yet. In fact, what I am seeing, shows me that we could go either direction. And 38-42k is still a very real possibility. All I am suggesting is don't get carried away here kids. I too have my finger on the "BUY" trigger, but I am patiently waiting for sufficient confirmation that we are going up. I don't see this on any of my charts from BTC to ETH to any of the ALTs. Once I do I will update this post. We are in a triangle. We must break out and above and then have another candle on the daily to confirm this break. Right now we have hit our heads on overhead resistance. If we don't break above this, I see us doing a serious drop. Too many traders are over-leveraged here for this NOT to happen. We must break out of our triangle first. Now, if we do break the triangle, everything should be OK. We could still drop a little in the coming week or two, but I don't think it would be as serious of a drop at that point. Watch closely kids. Dollar cost average yourself in slowly if you are bullish. Have your stops in. And, for God's sake kids, quit over-leveraging. You're going to get slaughtered. Bitcoin LOVES to serve up a bit of humble pie every so often. Just be careful. Best of luck. Happy trading all.
COINBASE:BTCUSD
by stewdamus
5
XLM Parabolic Run and CorrectionGreetings everybody! I have been hesitant to write for the past few days despite carrying out the idea I am going to enumerate upon. I hesitated because to be perfectly honest I am not as familiar with parabolic or bull run movements as my entire experience with crypto has been bag holding since 2018 haha! That being said, I have been making some successful trades here and there with this bull run and especially since XLM hit the ATH of .608. To that end I noticed something that I have brought up in other ideas previously that seem to carry true no matter what and I would like to share those with you all! One thing I had assumed during all of this is that the low point for XLM, if this is to be a parabolic continuation, must hit at least .32 before bouncing back up. That occurred last month during the initial dip that took approximately 7 days to achieve. However, we didn't immediately begin the rise to new ATH did we? That is because there is a period of accumulation, FOMO, and other behaviors that would ultimately drive the prices up to a local high and then come right back down. Why would this happen? Again, it is the FOMO, bounce behavior, etc. There is another reason though: there must be a double bottom before a continuation can occur. That is the bottom line and it has held true for the last 2 peaks and every other bull movement we have had in this market. It is true for BTC it is true for XLM, XRP, ETC, etc. However, I did have my doubts when we hit .47, I let fear take hold of me as well as disbelief and I did not capitalize on that movement as I should have because I thought "surely this is the continuation occurring early?" Turns out there is no such thing or possibility, only the illusion. The XLM rise to .47 was a bull trap, or perhaps a bear trap I am not as well versed with the terms as I would like to be but it certainly was a trap and I certainly fell for it haha. In either case the price dropped and stayed at relatively low ranges building a pattern that was very similar to the previous crawling behavior of the last parabolic rise, which gave rise to more fear and FOMO. Ultimately, it would peak at .438 and the rest is history. Now the only place for an of the cryto coins to go is their previous local bottom: or lower. The issue here becomes: is the Parabola still in effect, or are we in a deep correction? I do not have the answer to that question. I know if we hit .32 and maybe a little lower but stay above .3 for a day that is a strong indication that the parabola is still in play. However, if we dip into the upper .20's or lower then it is likely we will see a 70% or greater retracement that will last a week or 2 and be a race to the bottom. What I can say is this with a very strong sense of surety: we will hit .32, we will likely dip below that, but in my opinion the Parabola is still in effect until we dip below .27 then it's likely a race to the bottom. What do you guys think? *Disclaimer* Not financial advice, trade at your own risk!
COINBASE:XLMUSDShort
by Sephiroth4269
4