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Fibonnacci

USDTRY 8.2554 - 2.61% SHORT IDEA* CONTINUATION PATTENS HELLO EVERYONE Here's an idea on the DOLLAR/ TURKISH LIRA which opened with a gap and an aggressive fall with the bears looking for some correction of this move but we'll definitely see continuation to the downside, now the structure aligning with our fib levels is the resistance level 7.96612 which will be our aggressive target going down with the bears for long term updates lets wait for now and see what price tells us. HEY EVERYONE Here's a look at the EURO / DOLLAR pair heading into a new week the pair is currently trading in a bull frag which it can break in any direction but looking at the momentum push with the bulls looking for continuation of this move as it would be premature to go against the trend seeing no signs of slowing down on the pair so on higher time-frames we just have an overview of direction and what is the bigger picture in the markets. for entries we scale down to smaller time-frames to determine entries and so forth. many stars must align with the plan before executing the trade, kindly follow your rules. LET'S SEE HOW IT GOES.. HAPPY TRADING EVERYONE & LET YOUR WINS RUN... _________________________________________________________________________________________________________________________ ENTRY & SL - FOLLOW YOUR RULES here's some of my rules if they help. 1. look at structure be it descending channels, pennants and so forth. 2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation. 3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term. 4. aggressive trades can be executed on the pull back 5. price action must definitely align with the plan.' 6. structure definitely 7. the 20 EMA must be respected as support / see a bounce at this structure 8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S . 9. CANDLE STICK PATTERNS. so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan. RISK-MANAGEMENT PERIOD - SWING TRADE __________________________________________________________________________________________________________________________ If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Short
by PULEMokhothu
8
ADA, ADA, where for art though ADAOn the daily chart, ADA is finally out of its Ichimoku Cloud equilibrium zone and back in the bullish zone. I would've preferred if it broke out sooner and with a Conversion Line cross over the Base Line above the cloud or at least within the cloud for a medium bullish signal. ADA is a also back above its last yearly high which is now a major support level. Confirmation will have to wait as we do not have a new green cloud yet or a conversion/base line cross so there is a possibility ADA may dip back to its last yearly high, especially if Bitcoin drops back to its 78.6% Fibonacci Level on its weekly chart. We now have our last yearly high, 38.2% Fib, conversion Line, Base Line, cloud support levels, 23.6% fib and the 200EMA to cushion any potential drop before we even get close to breaking out of our Pitchfork Pattern on a downward trend so i am not worried. The STOCH is indicating we have the possibility to go higher before we get into oversold territory. With the anticipation of Goguen announcements in a few days, we could see a spike approaching the end of next week. Long-term, ADA is still poised to follow its upward Pitchfork pattern. I hope you found this helpful. Good luck 👍
KRAKEN:ADAUSDLong
by TradingThroughTheLens
GBPJPY SHORTA good opportunity to short. there is a nice downtrend forming as the price has broken out of the April range. A retracement to former support (MAGENTA HORIZONTAL RAY) also coincides with the 0.382 Fib and the S1 monthly pivot point. the COT data also shows speculators getting shorter on the pound and longer on the yen which can clearly be seen in this weeks price action. If you have any ideas supporting or on the contrary to my opinion please leave a comment. thanks and happy trading note: I am already short the pound in the form of a long EURGBP trade so I may only enter if that trade moves in my favour as I do not want to be over exposed to the pound, but I am definitely bearish.
Short
by EireTrade-Capital-Management
Dow Jones : Long up to 25 300 ? (Elliott's Waves)After today's situation, I came to the conclusion that we are in a 5th wave that can lead up to 25 300, AS LONG AS IT DOESN'T GET TRUNCATED 25 300 would match a 0.618 retracement of the big drop to 18 200 If we reach 25 300 and then move back down, it might mean that we would start the 3rd wave (3 out of 5) which would go lower than the first wave (at 18 200). I might go long if we break the 3rd wave high, and then if we hit target of 25 300, all SHORT !
U
by nightcall_fx
3
EURUSD This impulse was expected - Let's zoom inDear all, See my previous post "Last leg of a larger retracement": The EDT was expected to unfold and the full retracement to stop at Wave 2 level. This occured. From there we see an impulse which is shown here on the 5 min !! chart. I would like to give you more insight how I interpret the chart based on wave analysis. Current Situation: We see an impulsive in wave (i) and a correction in w. Then the price moves higher in wave x. Now, wave x is very important. Many people think that this is a new impulsive wave and go long. From my view this is wrong. A retracement always ends with an impulsive wave (maybe I will show this in a video taping. Difficult to explain in written format). And the previous leg of x was not impulsive. Going Long now bears the risk to be knocked out. Therefore be patient and wait for the last impulsive decline (i.e. confirmation). Btw, technical analysts will call this later "the price has tested the trendline". So I expect this decline to happen down to the marked rectangle. If the wave y stops there, this might be a good entry point for a long trade. Nice Weekend Merakshi
Long
by merakshi