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1618 Fibonacci Extension

Possible Reversal Zone on GOLDHi guys, today i want to bring you my view of gold. It's been in a recent uptrend and it's creating new highs but i think this could be a bigger retracement of the downtrend in the big picture (weekly). By using a simple AB=CD harmonic pattern and two Fibonacci levels i've managed to create a small reversal zone where price actually is right now. Here we have two different AB=CD harmonic patterns, a 618 retracement and a 1.618 extension. The RSI is in overbought condition. All these conditions together make me think it could be a nice shorting setup. If you want to share your view, feel free to comment below. Otherwise, see you in the next chart!
FX:XAUUSDShort
by Roker1
Reversal Zone on GOLDHi guys, today i want to bring you my view of gold. It's been in a recent uptrend and it's creating new highs but i think this could be a bigger retracement of the downtrend in the big picture (weekly). By using a simple AB=CD harmonic pattern and two Fibonacci levels i've managed to create a small reversal zone where price actually is right now. Here we have two different AB=CD harmonic patterns, a 618 retracement and a 1.618 extension. The RSI is in overbought condition. All these conditions together make me think it could be a nice shorting setup. If you want to share your view, feel free to comment below. Otherwise, see you in the next chart!
FX:XAUUSDShort
by Roker1
4
Is AUDUSD ready to reverse?Hi guys, this is the AUDUSD 4hr chart and i've been waiting for this AB=CD to complete for a long time, now the moment has come. We have an AB=CD pattern completing right at a previous daily structure level, with some Fibonacci confluence and a nice RSI divergence. If price shows us some buy signal it would be a good chance to go long and make some profit, risk to reward ratio seems pretty good. Keep you updated. If you want to share your idea about this or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
4
Is AUDUSD ready for a reverse?Hi guys, this is the AUDUSD 4hr chart and i've been waiting for this AB=CD to complete for a long time, now the moment has come. We have an AB=CD pattern completing right at a previous daily structure level, with some Fibonacci confluence and a nice RSI divergence. If price shows us some buy signal it would be a good chance to go long and make some profit, risk to reward ratio seems pretty good. Keep you updated. If you want to share your idea about this or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Bunch of cluen on USDJPYHey guys, after missing the shorting opportunity on this pair yesterday price is now back to the bottom of the chart, testing the daily structure i've drawn (yellow box). A bat pattern is completing right there and it's in confluence with an AB=CD 1,618 pattern. Also, we have some nice clues on the RSI, that's in divergence (both in the daily and 1hr chart) and in oversold condition (4H chart). If you take the Bat as entry reason be sure to put your stop loss below the X point, otherwise you could wait for further confirmation by price action and therefore reduce your risk. I'll keep you updated. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
(Daily) Coffee for a Shark @ Confluence or @ Previous StructureICEUSA:KC1! Confluence between the 618 retracement and the 161% extension, let's see if the big bears start to bid lower once the price gets there. (IF) There's also the previous structure at 224%, above the 78.6% retracement, let's call it a "cluster zone between fibs", and it will "validate" the "extended" Shark at 224% (check price action and structure at both levels, the 161% and the 224%). Safe Trades;
KShort
by Andre_Cardoso
NZD/USD 30min measured move and 240 min CypherPrice is starting to break down 240 min chart. On the 30 min we have a potential measured move. I'm looking for price to retrace back to the .382 fib (.70451) and then continue to the 1.618 fib ext to .6980. The measured move from the .382 to the 1.618 ext is exactly the same length. Also, the .382 fib level has acted as former support. I would have my stop just above the .618 at .7070 to give the trade some room to develop. The Cypher on the 240 min chart is still valid has well. If price closes on the 240 min above .69843, the Bearish Bat is still valid too. Good luck trading out there.
Short
by ChrisThein
GBP/USD 60 min Bearish continuation/Gap fillI'm looking for price to fill the Gap. There is a 1.618 fib ext and a .618 fib retracement right around Fridays close. I want to get short around 1.3659, stops should go at least above the structure high around 1.3790, you could go higher or lower depending on your trading plan. I would look to take profits back to the swing low 1.3205. There is also a bearish 2618 trade opportunity at 1.3357, I wouldn't get short there just because price has been so oversold and the big unfilled gap. There is also some bullish RSI divergence on the 60min as well. This could be a potential buying opportunity. Look for a double bottom etc around 1.3160's-90's. Plenty of opportunity's, good luck trading out there.
Short
by ChrisThein
EUR/USD Bearish Bat 30 min or Dead Cat Bounce retestThere is potential Bearish Bat on the 30 min. There is also a 1.618 fib ext correlation in the same zone. I would look to get short around 1.1369 with my stop above the swing high at 1.1435 and a target at 1.1087. The target is a .618 fib retrace from the entry price. This is of course, if price breaks and closes above the .50 fib zone. Also, this .50 fib zone could be a potential retest in the Dead Cat Bounce area. Good luck trading out there.
Short
by ChrisThein
2