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1618 Fibonacci Extension

EURJPY (Cypher Pattern with 2618 at right leg) -1h ChartConfirmations for Cypher Pattern: - A to B must touch 0.382 but cannot exceed 0.618 - B to C must touch 1.272 but cannot close below 1.414, on this case it was 1.414 - 1.618 area. (Trend-Based Fib Extension) - C to D must touch 0.786 of X to C (0.786 - 0.886 area) - First TP at 0.618 of D to C (Fibonacci) - Second TP at 0.382 of D to C (Fibonacci) - Third TP back to double floor Confirmations for 2618 inside right leg: - double floor - measure impulse - retracement at 0.618 - TP at -0.27 and -0.618 Double Floor + 0.618 = 2618 Good Trading
Short
by DanielParra99
XAUUSD (2618 Setup) -1H ChartAt left side we can see a flag was formed and completed at -0.27 for our 2618 setup: - double top - measure impulse - retracement at 0.618 - TP at -0.27 and -0.618 Double Top + 0.618 = 2618 TP3 (1.618) would be long term for major retracement at previous 0.786 - 0.886 area. Indicators: EMA= Both lines haved crossed telling us change of impulse MACD= Double Top inside MACD with Support & Resistance shows what I expect for 2618 Good Trading.
FX_IDC:XAUUSDShort
by DanielParra99
AUDUSD (Bearish Cypher Pattern) -4h ChartConfirmations for Cypher Pattern: - A to B must touch 0.382 but cannot exceed 0.618 (on this case 0.5) - B to C must touch 1.272 but cannot close below 1.414 (Trend-Based Fib Extension) - C to D must touch 0.786 of X to C - First TP at 0.618 of D to C (Fibonacci) - Second TP at 0.382 of D to C (Fibonacci) - Third TP would be long term to previous support Left Leg of Pattern A flag was formed with an ABC pattern, which gave us that bearish impulse for point C of our Cypher Pattern, even if you measure bearish impulse with Trend-Based Fib Extension you can see how price bounced around 1.272 -1.414 area. Right Leg of Pattern On this side is where it gets complicated, because of all the patterns that are on formation. First another flag was formed with ABC pattern, I measured bullish impulse by placing 0.236 right above flag and we can see point C rejecting 0.618 for bullish continuation. After first retracement we now get our second retracement for possible Ending Diagonal Ending Diagonal confirmations: - 1 and 4 at same price (I expect price to retrace at 0.236 where point 4 would be) - 5 clear points (point 5 would give us our bearish area for Cypher Pattern completion) - take profits between 0.786 - 0.886 (around third TP of Cypher Pattern) Second retracement is in formation for bullish continuation at point 5, where Ending Diagonal and Cypher Pattern would be completed for bearish impulse Good Trading.
Short
by DanielParra99
EURAUD (Bearish Butterfly Pattern) -4h ChartBearish Butterfly Pattern - A-B must touch 0.786, but cannot exceed X - B-C touches 0.382, but sometimes goes further (does not exceed A) - ABCD formation. D has to reach outside X and touch 1.272 or 1.618 (on this case it went a little higher because of Euro news) - TP 0.382 TP2 0.618 (Fibo A-D) X to D distance is 1.618 (1.618 golden ratio!) X to B distance is 0.758 (around 0.786!) A to C distance is 0.862 (around 0.886 retracement) B to D distance is 2.317 (around major retracement 2.618) Good Trading
Short
by DanielParra99
GBPJPY (Bullish Cypher Pattern) -4h ChartConfirmations for Cypher Pattern: - A to B must touch 0.382 but cannot exceed 0.618 - B to C must touch 1.272 but cannot close below 1.414 (Trend-Based Fib Extension) - C to D must touch 0.786 of X to C - First TP at 0.618 of D to C (Fibonacci) - Second TP at 0.382 of D to C (Fibonacci) Look how X to B distance is 0.384 (around 0.382!) A to C distance is 1.271 (around 1.272!) X to D distance is 0.834 (around 0.786 - 0.886!) B to D distance is 1.618 (exactly at 1.618!)
Long
by DanielParra99
GBPAUD (Bearish Breakout) - 4h ChartConfirmations for Elliott Impulse: - 5 clear points - 1 and 4 at same price (0.618) - each retracement was confirmed with Trend-Based Fib Extension Now after an Elliott impulse, there's always some type of consolidation, which is what we got with this bearish breakout. I measured bearish breakout by placing 0.236 right below and we can see how it went straight for 0.886 -0.786 retracements and began bearish continuation, I expect to sell all the way to -0.27 (0.786 from elliott impulse at same price). Good Trading. - 4h Chart
Short
by DanielParra99
2
USDWTI (Oil)First we got a pretty good resistance with a double top, which means we have a possible 2618 trade: - double top - measure impulse - wait for retracement at 0.618 Double top + 0.618 = 2618 technique I measured bearish impulse so I could confirm areas with some Support & Resistance and we can see how each pattern or consolidation was formed around those areas, even fibonacci retracements respect those areas. Also used some Support & Resistance on MACD to confirm divergence. BAT PATTERN -Left Leg At first there's an ABCs formation right at where bearish Bat Pattern began, we can see how it went bearish forming an Elliott Impulse with 5 clear points and each consolidation that was formed respected fibonacci retracements. -Right Leg After an Elliott Impulse there's always some type of consolidation, which is exactly what we got with that double floor at the bottom, right after that retest it formed a pullback that I measured with Trend-Based Fib Extension, we can se how 1.618 - 1.414 area is exactly around bearish area. We got 0.886 -0.786 area from Bat Pattern, 1.618 - 1.414 area from Trend-Based Fib Extension and 0.618 from 2618 technique all at the same area!!! Good Trading. -1h Chart
FX_IDC:USDWTI
by DanielParra99
11
XVG about to EXPLODEXVG is forming a symmetrical triangle, which usually is a powerful continuation signal. The symmetrical triangle also happens to be the corrective wave of wave 1 in the form of a ABCDE pattern, and its completion signals that wave 3 will start soon. Since wave 3 is usually the longest, XVG probably will hit at least $0.39 (1 to 1 Extension). However, because the crypto market is so bullish, XVG will most likely exceed that target, possibly reaching $0.65 (1.618 Fibonacci Extension) or more. In addition, within the symmetrical triangle, there are three falling wedges. The first two wedges led to a noticeable spike in price but failed to bring a decisive breakout. But as the saying goes, "Third time is the charm," the third wedge (the one XVG is currently forming), will likely bring an all time high. Market trends tend to come in sets of three (sometimes two). For instance, the impulse waves have 3 motive waves (waves that drive the price up) before a correction. Also, the triple combo corrections and the WXYZ corrections have 3 corrective sub-waves before starting another impulse. Once three of whatever pattern happens, the price is likely to change. XVG's three corrective wedges could signal the end of the corrections.
XLong
by aoeuaoeu
9
Zcash Long to $900+I've counted the Elliott waves, and I have only spotted 3 completed waves so far. That means that ZEC should experience some more correction in wave 4 before exploding up again. ZEC already completed subwaves A (12345 impulse) and B (abcde rising wedge). Wave C should start soon, and should be a downwards 12345 impulse. Of course, there is a possibility of further corrections in the form of WXY, but in that case, the corrections would be small and contained. My conservative target is $820, a 1 to 1 Extension of wave 1, and my aggressive target is $905, a 1.618 Fibonacci Extension of wave 1. I believe that ZEC will likely hit the 1.618 Fib Extension, because waves 1 and 3 were about the same length. According to Elliott Wave guidelines (not rules), wave 5 will often be extended.
BITFINEX:ZECUSDLong
by aoeuaoeu
1
possible cypher pattern usdjpypossible cypher pattern on usdjpy....one to one measured move and 161.8 confluence completion at the cypher completion (113.145). Target 1 at 111.642 target 2 110.727 as you can see these are not the conventional targets of being exactly at the 38.2 or 61.8. I have adjusted them based of the market structure. This pattern is pretty big and will take time to play out. Entry reasons have to be met for me to enter. Really looking for a 4 hr double top with rsi divergence before entering or evening star pattern w/ rsi oversold conditions on 4 hr. Stops for this trade are interesting because of how large it is. But conventional stops would be above x(starting point of cypher) hopefully out of reach. Also if the market does continue upward after I enter and I am not stopped out. Once the market turns to the downside I will adjust my tp's by pulling fib retracement from c to where the market completed and use those new 38.2 and 61.8 retracments as my targets.
Short
by brww03
bat pattern gbpjpy buy 1 to 1 measured move, 161.8 extension of a to b to a, overall daily fibs at 61.8, all line up with a bat completion. 4 hr divergence drawn with red arrows on chart and rsi on 1 hr current double bottom forming and even on 15 minute chart another bat formation the gap closed with the wicks looking left at yellow bubble I have entered on the 1hr double bottom with stops bellow my wicks however can await a 2618 after it breaks 1 hr neckline of double bottom for more conservative entry disclaimer: all my setups are for my personal trading purposes you should only use my charts as confluence to your own ideals.....
Long
by brww03
Bitcoin price reached 1.618 Fibonacci extension of 2012 and 2015Mind blown: There are two ways in which the current Bitcoin price could have been seen as a price target in the past: $9.50 low on 2012-10-27 connected with $1163.00 high on 2013-11-30: Result $1875.86 $1163.00 high on 2013-11-30 connected with $152.40 low on 2015-01-14: Result $1787.55 Using the $152.40 low from 2015 and applying the 1.618 Fibonacci extension the target is $1787.55. And here it comes, when connecting the $9.50 low from 2012 with the high from 2013 the 1.618 Fibonacci extension target is $1875.86 ! Therefore the price has reached a very pivotal point this month. Low from 2012 High from 2013 Low from 2015 High in 2017 vs both 1.618 Fibonacci extensions from 2012 and 2015 Currently the Bitcoin price as traded on Bitstamp is at $1760 after declining from a high at $1892. There is a Bitcoin ETF decision by the SEC on Monday (tomorrow). Because the outcome of this ETF decision to allow Wall Street to more easily invest into Bitcoin is at this point a guess I publish this chart as neutral.
BITSTAMP:BTCUSD
by ChartArt
1