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Fibonacci Retracement

LTC/USDT 1D ChartHello everyone, I invite you to a quick review of the LTC/USDT chart on the 1D time frame. As we can see, the price had a sudden downward impulse below the local downtrend channel, but it quickly returned. Going further, you can see how the price returned above the support at $56.5, then support at $51, and then strong support at $44. Looking the other way, there is resistance at $62, the next resistance is at $65.5, and then there is strong resistance at $70. Only when the price breaks above this resistance will the path towards the next very strong resistance at $82 be opened.
by cryptodailyuk
XAUUSD: Strategies for dealing with the long-short tug-of-warGold market fundamentals: OANDA:XAUUSD The weak employment report prompted the market to expect a rate cut of nearly 105 basis points by the end of the year, with a 100% chance of a rate cut in September. This expectation has given gold some support, as rate cuts usually reduce the opportunity cost of holding gold. However, with the rise of the US dollar index and the rebound of the 10-year Treasury yield, gold's rebound has also been suppressed. The above two points are the current shock factors that have led gold to enter the competition between long and short forces. Gold market technical aspects: From the Fibonacci retracement indicator of Monday's plunge, the current price has come to a dense pressure zone, 0.5 is 2411, 0.618 is 2422, and the high point of the oscillation range 2415 is also between the two, so it is not easy to break through here. If it breaks, there is a broad sky above, and if it does not break, it is likely to continue to maintain the oscillation pattern. Trading strategy: Although it is a tug-of-war between long and short positions, I prefer a decline that cannot break through, so I will choose to sell at a high level Support range: 2380-2364 Resistance range: 2411-2422 Intraday risk data: US initial jobless claims, US June wholesale sales monthly rate If you have different opinions or questions, please speak up and let’s discuss GOLD’s latest ideas together.
TVC:GOLDShort
by AntonyTP
Bitcoin 4hr Setup Bitcoin is currently experiencing a pullback, having dropped 2,000 pips over the past seven days. Several key factors are converging around the $60,000 level, making it a critical area of interest. These factors include the psychological round number of $60,000, previous market structure, the 0.5 Fibonacci retracement level, and the presence of both an upward and a downward trend line intersecting near this price. Additionally, there's a notable rejection point in this vicinity. Given these confluences, I anticipate a reaction around this level, potentially leading to further downward movement. Bitcoin Daily Chart Bitcoin is showing several confluences on the daily chart around the $60,000 level. After a 1,000-pip rally without any significant pullback, a retracement seems likely, as the price may need to dip before resuming its upward momentum. This time, I anticipate that Bitcoin might close below the 200-day moving average during the pullback. However, once it completes this downward move, I expect the price to eventually close above the 200-day moving average and begin a climb toward the top of the current channel.
BITSTAMP:BTCUSDShort
by ChartStrategist
XRP → The court case is complete. Triangle Resistance Retest...↑BINANCE:XRPUSD is forming a rally from the intermediate bottom area. The reason for this is the end of the litigation between Ripple and SEC. The market has been laying a positive outcome for the past few weeks.... The SEC was demanding $2 billion dollars, but the court reduced their demand by 94%, admitting they lost! This is a positive outcome for Ripple, the industry. Ripple is only fined $125 million instead of $2 billion. The rumors have been around for a while, but the market reacted quite positively, giving an initial boost of 27% Technically, at the moment, all eyes are on the range 0.6378, 0.5663. Emphasis on the resistance breakout. If the bulls can overcome this boundary, it will be a confirmation of the price exit from the global descending triangle, which may affect the formation of a bullish trend, the promising targets of which may be 0.900, 1.300. Resistance levels: 0.6378, 0.7440 Support levels: 0.5663, MA-50 Fundamentally and technically, everything is unfolding with favorable winds for the bulls. It opens the way to the north, but before that, the bulls need to try to overcome the strong resistance. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:XRPUSD ;) Regards R. Linda!
Long
by RLinda
4
GOLD → Consolidation above global trend supportFX:XAUUSD is trading inside the global range. The focus is on local support and resistance levels. The dollar is temporarily rising, which has an impact on gold, which is globally in a bullish trend. The gold price remains vulnerable despite the US Federal Reserve's dovish stance. The gold price continues to lose ground for the fifth day in a row on Wednesday, approaching a one-week low on the back of a generally stronger US Dollar (USD) and rising US Treasury yields. There are not many key news today, so the general fundamental background and technical component should be evaluated as a priority. Technically, gold is not allowed below 2369 and 2380, forming a correction and a retest of the resistance at 2397-2400. If the bulls are able to break this zone and consolidate above the level, we can get on the train to the north, but an active struggle of differently-minded traders is forming in this zone. The trading range for today is 2420 - 2370 (confirmed by the movement of August 05 - 06). Resistance levels: 2397, 2400, 2420 Support levels: 2380, 2370 If bears hold resistance, price may test the lower boundary of the range. But, a retest and breakdown of 2420 would disrupt the market structure and character and create a fickle mood, within which the bulls may give impetus. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
15
XAU/USD: New head and shoulders top is forming, ready to sellToday's Asian and European sessions have seen little volatility, with gold prices staying below 2400 and not testing 2420, indicating gold is still in a consolidation phase. Therefore, we should adjust our outlook accordingly. The 4-hour gold chart shows a new head and shoulders pattern forming, with prices near the shoulder level. Historically, reaching the shoulder often precedes a new downtrend. This shoulder is near the 2400 level, suggesting a Sell around 2400. Additionally, the 1-hour chart shows that the Fibonacci retracement of Monday's $95 drop places the 0.382 level right at 2400, reinforcing this idea. Support levels to watch are 2370, then 2350. If 2350 breaks, further downside is expected. If you have different views or questions, let's discuss the latest insights on GOLD
OANDA:XAUUSDShort
by AntonyTP
6
The gold downtrend has begun, with the target below 2380From the hourly chart, we can easily see that the high point of gold is constantly moving down, which indicates that the overall downward trend is still continuing. In the previous article, I mentioned the decline of $95 on Monday. The Fibonacci retracement indicator shows that 0.382 is near the 2400 integer mark, and it also clearly mentions the bearish view here. At present, it seems that the price of gold is running along the preset downward line. If it can break the support of the lower track of the Bollinger Band at 2380, then the head and shoulders top pattern mentioned above can be confirmed. By then, it is likely to continue to test the support of 2370 and 2350. If it falls below 2350, the downward space will be further expanded. Now, traders who sell near 2400 can maintain their bearish beliefs. If there is no accident, this decline will most likely test the low of 2380. Let's wait and see. If you have different opinions or questions, please speak up and let's discuss the latest ideas of GOLD together
TVC:GOLDShort
by AntonyTP
The doomsday retracementWow, what a week it has been. SPX down 3.5% and up 2.5% the day after. My thought is this backtrack is going to be the biggest retracement for the drop, just like we saw on bitcoin. APPL seems to have DOJ issues, NVIDIA chip issues in Taiwan... all seems to be lining up for potential lower for longer. My only buy this year will be TSLA. More on that. Goldilocks is not going to bring us back to pre-pandemic levels, rate cuts are not going to save the market. The narrative has already changed on July 17th when Trump said he didn't want to invade Taiwan, good luck buying after august.
EIGHTCAP:SPX500Short
by Osmanomics
1
XAUUSD: Get ready for a gold reboundOANDA:XAUUSD Yesterday, financial markets plummeted due to recession fears, but today global stock markets and stock index futures are rebounding. Gold, despite its drop, is expected to bounce back as a safe-haven asset. Interest rate futures have almost fully priced in a 50 basis point rate cut by the Fed in September Once recession risks are mitigated, gold's liquidity will make it a top safe-haven choice, especially as purchasing power declines. Additionally, ongoing geopolitical crises will keep influencing gold prices Technically, 2420 is a key level. Breaking it could open up more upside potential. If not, the downtrend may continue. The 2380-2360 area is strong support; if it holds, prices may rise again, but if broken, further downside is likely If you have different views or questions, let's discuss the latest insights on GOLD
OANDA:XAUUSDLong
by AntonyTP
3
GOLD → False break of range support led to a reboundFX:XAUUSD reaches the liquidity zone of 2370, forming a false breakdown, confirms the presence of a strong range boundary. The market may move into a sideways trend. Fundamentally, the situation is still complicated. The U.S. regulators are trying to change the market's mind on the recession issue, trying to keep the market calm. The question of aggressive actions of regulators is still open. At the moment everyone is watching the actions in the Middle East, as the activity on the background of the war already unleashed can again affect the price of gold. Markets continue to estimate almost 90% probability of a 50 basis points cut in US interest rates in September. Let me remind you that it is not the fact of reduction that matters, but the hints and comments of regulators. At this time, gold is forming a global range of 2480 - 2370. Resistance levels: 2420 Support levels: 2400 Technically, gold may go into a consolidation phase, but in the future it is worth watching the resistance at 2420. As a pre-breakout consolidation or a quick retest may lead to a breakout attempt and growth Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
5
GOLD → A retest of trend support. ISM PMI ahead...FX:XAUUSD is moving into the correction phase amid unstable fundamental environment. The price of the metal is declining towards the rather important zone of 2420, which has shown itself more than once. Fundamentally, the market is in fear because of possible recession, which may become a motivation for the Fed to take hasty actions and more aggressive easing of monetary policy Rumors are emerging about a possible emergency FED meeting in the near future. Not to forget gold as a hedge asset, which continues to feel supported in volatile times. Speculators are cautious and refrain from premature actions ahead of the ISM services PMI data and the tense situation in the Middle East. Support levels: 2419,6, 2403, 2382 Resistance levels: 2451, 2474 Technically, gold is at a strong support at 2419 and judging by the reaction of the price to the level, the buyers are acting quite aggressively, trying to hold the market. Against this background, the price may strengthen to the nearest resistance 2430, 2445, 2450, but if the price starts to return to 2419, forming a quick retest, it will increase the chances of a possible breakdown of the bullish channel and further decline to the zone of interest and liquidity. Rate, share your opinion and questions, let's discuss what's going on with ★GOLD ;) Regards R. Linda!
FX:XAUUSD
by RLinda
17
GBPUSD → Support retest amid falling dollarFX:GBPUSD is testing trend support for a breakout, but the situation is complicated by the difficult economic state of the Dollar... GBPUSD is going flat. Technically, GBPUSD could have a chic bullish outlook, provided buyers hold 1.27 support. Fundamentally, things are quite complicated, but more positive for the currency pair's growth: there is a high chance of recession in the US due to last week's unexpected data, indicating a very rapid slowdown in the economy. Rumors of the possibility of an emergency interest rate cut by the US Fed are forming. Also, in UK: Composite PMI +0.5%, Services PMI +0.4%). Technically: it is worth paying attention to the flat 1.28000 - 1.27000. If the bulls hold the lower boundary and bring prices back beyond 1.28 with further consolidation, we should expect a positive outcome and a northward course. Resistance levels: 1.2818, 1.2894 Support levels: 1.2707, 1.2615 Emphasis on this range, the flat boundaries play a key role for the medium-term perspective Rate, share your opinion and questions, let's discuss what's going on with ★GBPUSD ;) Regards R. Linda!
Long
by RLinda
7
FUBO "B" wave bottoming? First upside target 4.85USD?This is a followup idea on my previous one where we "idezied" the bottoming process, which so far has been manifested. So far I see it as a huge (A)(B)(C) forming to the upside, hence the choppiness, which overall LIKELY will stay as 3 wave structure hitting a several year upside target of between 22 - 84 USD, too soon to projectile anything more proper target. Can it be something even more bullish? Yes, but it has to proove a lot in the upcoming years. In that case it is LIKELY to be a huge overall diagonal. What I lean towards is that we are in the huge white (A) wave, unfinished still, within that we likely to have a big ABC structure, in which the "A" wave likely completed, and we are in the "B" wave down. I have already removed the 0.382 and 0.5 fib retracement levels, generally we are reaching/has reached a very good risk/reward ratio already for the long term. As this could be the b wave down, it is quiet tricky, morphing, wavecount changing and evolving, and likely to have more choppiness. Even it COULD undershoot as still be valid, hence I have carefully, but constantly scaling back-in for long Next support levels to watch: 1.65-1.50 After that: 1.30-1.20 (less likely, but CAN happen) After that: 1.16-1.05 (even less likely, but CAN happen) Currently we are below all meaningfull moving averages (9/21/50/180&200 day MA's), but within support. I have added a "bearish" route/count as well, for the very long term I am still bullish even in that scenario, however likely to have 1 or 2 more swingdowns deeper to complete the yellow route big wave 5, and THEN (assuming no banktrupcy) would have at least a very strong correction to the upside.
NYSE:FUBOLong
by tommtajlor
4
All Eyes on Critical Support for Bitcoin!All eyes must now be watching BITSTAMP:BTCUSD 's flag support shown in the primary chart above. Since BTC's all-time high at $73,794, BTC has had a steady, yet volatile, pattern of consolidation that has fit within a downward sloping flag channel, often called a bull flag. Yet a bull flag isn't a bull flag anymore if the lower channel breaks down decisively. So that's why all eyes are on this support now. Interestingly, the yellow line in the primary chart above is a Fibonacci .618 retracement at $51,985. This .618 retracement coincides to some extent with flag support today. If the .618 retracement cannot provide support along with the descending channel's return line, then one can expect lower prices to retest, at a minimum, the major swing low on January 23, 2024. With an escalation in geopolitical conflict, prices can be more volatile than normal. This can mean that support / resistance boundaries are broken more easily. And false rallies and dips can be more fierce and seductive. So be careful out there! Even if relief rallies ensue, price may continue to struggle into next year. But don't rely on anyone's predictions—including mine! Try to stay objective, unbiased, and continue to watch what price is telling you—without trying to force your assumptions into the price action. In other words, what price is doing a week from now, a month from now, a year from now, will give you more information than virtually any trader or technical analyst can tell you. Lastly, here are some longer-term levels that can be watched in the event price breaks down further from this flag / channel.
BITSTAMP:BTCUSD
by SquishTrade
3
BTC is approaching its bottom in the 51k areaIt seems that BTC is approaching its bottom in the 51k area, as seen from several indicators including: 1. Fibo 0.618 (goldenratio) correction from impulsive wave from January to March 2. Major support at 51k has not been visited since February 3. Finishing ABCDE correction wave 4. Bottom trendline descending channel formed since March 5. Liquidity heatmap is around 51k 6. CME gap at 58k has been filled, and another gap has emerged above in the 59.5k - 62k area 7. Fear and greed at 26 (FEAR)
CME:BTC1!Long
by wahing19
ETH-USDT 12HInterval Chart ReviewHello everyone, let's take a look at the ETH to USDT chart on a 12-hour time frame. How can we see how the downtrend channel has been defined for us, in which we are at the lower border. Let's start by determining the support line and here you can see how the support at $2,823 has been broken and we are currently approaching the strong support at $2,626, while when we start going further, the next support is around $2,392. Looking the other way, there is resistance at $2,922, and then the price will again have to face the resistance zone from $3,098 to $3,225.
by cryptodailyuk
Saudi wants production cuts, America doesn'tAlthough everyone is cutting down production, even SHELL, we are seeing the narrative of higher prices for longer. OPEC wants to cut beginning October 2024 until 25. This might be for a multitude of reasons, which makes it quite unclear what the goal is. After falling demand and easing in production, my narrative is that we might see prices fall instead of rise, even though we are trying to limit supply, I think markets are going to want to lower prices as energy scarcity becomes vulnerable and volatility will rise. Geopolitical risks has not eased. US SPR is lower than a quarter of its peak in 2021. My bet of dropping prices lies on that. As well as Trump having 70% chance of coming into office, I expect a welcoming gift from MBS giving us discounts on gas!
EIGHTCAP:USOUSDShort
by Osmanomics
NVIDIA updateRecently, test of finding a top turned out to be a success. However, after entering into an uptrend on lower timeframes, price had a sudden drop while it was nearing all-time highs. This puts in risk the first trade of the referenced idea at risk. The reason we get a sell signal is because: The recent raise in price action was not enough to overcome the downward movement of the correction. However, the 25 MA usually works as a key support-resistance. Therefore, it's currently being used as support, but if this support fails its likely price will return to the current lows where the 25 MA would most likely become resistance and would test price action before determining to create a new low or continue an uptrend. The best movement for technical uptrend health is a slight correction into current lows before forming a new uptrend. This movement will also be important for the SP:SPX as NASDAQ:NVDA holds a quite large share of the index at the moment. This could be the formations of the downtrend brought by the cyclicality of uptrends and downtrends. As it was mentioned in the referenced idea.
NASDAQ:NVDALong
by DarkMessiah777
4