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618 Fibonacci Retracement

SPX500 daily 0.618 and hammer combination longA very very important set-up that I believe stock traders over the world are talking about how to deal with this daily hammer. For me, quite simple that it's almost a perfect combination. Whatever the result is, this set-up definitely worth some long trades! Breakout, pullback, intraday momentum trades, and etc... Also I'll take this perspective into individual stocks to look for buy-low opportunities! Let's see how it goes!
FX:SPX500Long
by Trader_Joe_Lee
6
HEXO Cannabis Investing - The dip b4 big money...still dippingSo Cannabis investors, HEXO is at the a dip and 786 fib retracement. Is this the dip before a November federal bill allowing legalization state by state, or will it go near full retracement? High 9.29, current 5.70, full retracement 3.98. Canopy Growth is 618 fib retracement. The better the stock the lower the dip. I'm using weekly charts and than switching to 1 day and 4 hour charts for potential limit entries. Other favorites are Tilray (TLRY), GW Pharmaceuticals (GWPH) and CBD suppliers CVSI and CBDS. We're getting hammered from credit debt and waiting for the final hammer to drop. TSX:HEXO OTC:HYYDF CGC CRON NASDAQ:TLRY NASDAQ:GWPH OTC:CVSI OTC:CBDS Pick & shovel options: OTC:BLOZF THC Test devices...riskiest play in my view. OTC:KSHB Packaging, labels, and extraction products NYSE:SMG Hydroponics, equipment, fertilizers NYSE:IIPR REIT asset leasing, property OTC:MNTR Financing, asset leasing, property
TSX:TLRYLong
by Pokethebear
YY earning gap to 0.618+AB=CD, and potential bat patternYY dropped a lot after its ER, which actually beat analyst's estimate but still got sold off horribly. Like the FB trade last time, it's heading to 0.618 after this earning gap. This 0.618 also has an AB=CD combination, while there is also a potential bullish bat at 44 spot. So I'll be looking for some reversal sign right here to see if there are buying opportunities here. If not, next station will be the bat to make me interested in taking long position of YY. Let's see how it goes!
NASDAQ:YYLong
by Trader_Joe_Lee
USDJPY - Rising Trend Halted, Sell the RetracementUSDJPY has reached 114.5 and finally hit strong resistance at that level. Last week, a reversal candle was formed in the W1 chart which already signals for probable reversal. Additionally, a rising trendline was broken yesterday, enough to confirm a major retracement to take place. Base on the market sentiment, it seems that the dollar is also having trouble to climb higher near 96. Thus, shorting the dollar in short-term could be a wise choice for now and USDJPY seems like a choice to me.
Short
by AlgoVenture
GBPUSD - Trend Reversal, Completion of RetracementThe rising trend for GBPUSD has shown signs of reversal since it fell from near 1.33 and broke below the bottom of its rising channel. This is always a clear sign of the beginning of a trend reversal and the break was strong which created a new low. The price has then retraced as it climbs gradually and is about to reach the top of another rising channel created from the retracement. Thus, the supply zone where the retracement is most likely to be completed, coupled with 618 retracement level, could be an opportunity to sell short the GBPUSD.
Short
by AlgoVenture
Yageo weekly 0.618 retracement--The passive components' drama.The sector of passive components in Taiwanese Stock Market went so crazy since last year. This Yageo is the leading one to make a perfect turnaround from a 2 digits stock to the 2nd highest price stock in Taiwan (called Queen of the stock market) . The story started from the passive components went short in supply and the price kept going higher and higher, so higher revenue, higher earning estimate, and a higher multiple is given as most analysts believe the supply will be in short for quite a while. While after it reached 1,000 fig, pretty much similar with all those chase high stories we've heard, people went crazy on buying and day-trading the stock with a view that it could go to 1,200 , 1,500, 1,700 and even higher, that's when the reversal started to take place. Now, it already dropped about 40% from its peak, and our dear friend Fibonacci is happy to see that. About 450-500 will be the spot that the demand zone and the 0.618 retracement having combination, which will also be the spot that I'll be interesting in trying to long this name. Let's see how it goes!
TWSE:2327Long
by Trader_Joe_Lee
Bitcoins Fibonacci love affair with the 0.618 level... [BTFD]Will 2018 history repeat itself? In the past few years we can go back through bitcoins history and see many examples of the 0.618 fib level coming into play with its price action with the highs and lows, this is an extremely powerful tool to predict FUTURE movements... Here are good solid examples of the major swings with BTC/USD and its Fibonacci retracements in 2018 and we are focusing on the current swing towards $7k we will watch the momentum and volume and if bitcoin cannot get up and over this next projected fib level of 6900-7000 then its very likely to repeat the same patterns and will see price come down to test the lower $6k areas On the other hand we are entering a very bullish time for bitcoin in the late autum all through the winter months, will this be the last retrace before the year is up? lets see what happens over the next weeks to see if this happens again... One thing we can determine is that the swings are getting lower as we go further into capitulation and like a winding coil we can see a big break on the horizon, may it be ETF decisions or something else that fuels a late 2018 rally . any questions or suggestions please join our Free Telegram channel which is also pump spam free too, bonus lol peace up and safe trades
COINBASE:BTCUSD
by majorlee
10
NZDUSD - 2nd Wave Retracement In CompletionDo you have the answer to that equation on the chart? That's usually how I find as many technical reasons as possible to identify a trade that I will not regret making. The dollar is near the bottom of its major range at 94.4, commodity currencies have proven to be weak as well. So shorting NZDUSD is quite a safe choice and given the fact, the price has retraced very significantly. Always go for the trade you have no reason not to make.
Short
by AlgoVenture
1
YUMC 0.618 and bullish butterfly pattern after buyout rumorI remember that day when YUMC was spun off from YUM I was still in Wall Street as a stock trader. A few days later this name became one of my best name and my boss was like "Hey Joe, many of my friends in other PE and hedge fund just did the exactly same trade as yours, good job bro!" One of the most inspired moment ! Recently YUMC has rumors about being buyout, here we got a bullish butterfly pattern and here is 0.618 spot! I'll be willing to look for trade around 31.50-32.00 to see if there are intraday reversal signs. Let's how it goes!
NYSE:YUMCLong
by Trader_Joe_Lee
AUDUSD - Retraced as China CPI, Selling OpportunityThe Aussie is most likely to make a retracement as China CPI performed well this morning, setting a slightly bullish tone for the Asia market. I am expecting the price to retrace back to 0.716, a supply zone combined with a falling trendline and FR61.8%. The dollar is most likely to perform better this week as NFP employment change outperformed the forecast. The market is also becoming more confident that the Fed may raise rate twice this year, including the hike this month which is pretty much guaranteed. Therefore, the retracement that might or is about to happen for AUDUSD could be a very good opportunity to go in for a short again.
Short
by AlgoVenture
1
USDJPY Bat Harmonic Pattern Near completion - SHORTUSDJPY pair has been on a downtrend on Daily timeframe with Lower Highs (LH) and Lower Lows (LL) forming. The pair is in a valid downtrend on H4 timeframe as well making LHs and LLs and we see clear rejection at point A and C of Harmonic pattern validating downtrend line. Recently price formed a LH at the 0.618 Fibonacci retracement which is a strong reversal point. Expect price to complete Bat Harmonic pattern by the end of this coming week. Price can potentially retrace to 0.786 Fibonacci and reject on downtrend line before meeting expected Take Profit (TP) line, however last couple candles show signs of severe bullish exhaustion at key 0.618 Fibonacci reversal level. 2:1 reward to risk ratio chasing 100 pips. Please Like and Share post if you would like to see more of my analyses
Short
by Alex4xnco