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618 Fibonacci Retracement

RSI Divergence with Engulfing Kicker at daily structureHey guys, another analysis today that i want to share with you. Here we are on GBPJPY and you can see that we are up against a previous daily structure level on the left hand side of your screen. In cases like this i start looking for some shorting opportunities in lower timeframes, such as 4hr chart. On the right hand side of the screen you can see price is right at the 618 fib retracement of the bigger downward legative move. In addition to that there's RSI divergence and at the end price has created an engulfing kicker that i usually consider as a reason for entry when other criteria are met. So i think this may be a good shorting opportunity in order to take some profit off of the market. The current candle is pulling a little back so we can enter the market with a better risk to reward. Stops above the highest high, target at the retest of the most recent low, and then we can leave a position for futher movement. Hope you can find it useful. If you have any question feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2618 & Bat pattern on AUDUSDHey guys, today i want to share this top down analysis on AUDUSD. As you know, i start my trading analysis on higher timeframe (to get a bigger perspective), and then i enter the market in lower timeframe. On the daily chart we recently exited a OVERBOUGHT condition on RSI, that's indicative of an overextended market, near to a Cypher completion. So the bigger picture tells me this may be the starting point of a reversal; therefore i go on lower timeframe (4h) and i see a double top (with RSI divergence) with a break of structure to the downside, and that's another clue in the direction i've chosen on the daily. I could have used 2618 strategy to sell the market at the 618 retracement but in order to have a closer look, i lowered another timeframe; finally we're here. On the 1h chart, as you can see, i spotted a Bat formation completing near to the 618 level. So i've decided to use the Bat completion point as a better entry for a 2618 trade, therefore with stops above the double top and target1 at the retest of the lows. This way i can have almost a 2:1 RR on the first target and possibly a 4:1 RR on the second target. Hope you understand the process that brought me to this decision. If you have any question, feel free to ask beneath, Otherwise, see you in the next chart!
Short
by Roker1
5
Another short opportunity on GoldHey guys, i want to share another analysis of mine on the Gold. As usual, it starts on higher timeframe. On the left hand side you can see the daily chart where i began analyzing this, and you can see price is approaching a structure level that acted as support two times in the recent times lining up with 618 retracement of the bigger impulse leg. In addition there's a 1,27 extension of the last upward move and a 1,618 inversion of the most recent retracement. All those levels line up pretty well, and that's why i've drawn a small box where i can search for opportunity on lower timeframe. On the right hand side of your screen, on the 4hr chart, there's also a AB=CD pattern that's completing right in that box. For all these reasons, i'm looking for shorting signals as soon as price enters that zone, like double tops and engulfings. If you have any question, feel free to comment below. Otherwise, see you in the next chart!
FX:XAUUSDShort
by Roker1
2618 on Gold! Ready to short!Hey guys, i've been watching closely to gold lately and i've found out that it basically respect structure like any other pair i'm trading. So i've decided to apply some analysis to this instrument in order to give you my particular view about it. The black line represents a daily structure level that i pointed out last week, after the first test price action fell forming a double top that has been recently broken to the downside. This means my bias is now short, and this may be the startinig point of a new downtrend. In order to hop on the trend with a nice risk to reward ratio, i've outlined two "Killzones" where i'm going to pay attention to candlestick formations. The first one is the double top's neckline and the support that's been broken ultimately, thus it's considered to be the first possible turning point. The second one is the 2618's completion that you could take as a trade alone. My conservative style of trading tells me to wait till i see a weakness signal on price action. Good luck! If you want to share your standpoint or ask questions, feel free to write below. Otherwise, see you in the next chart!
FX:XAUUSDShort
by Roker1
2618 trade on EURUSDHey guys, after banking some pips over the night on the AUDCAD trade (see attachment) i want to share with you a 2618 trade that's forming on EURUSD. For those of you who aren't familiar with this formation it basically consists on selling/buying the .618 retracement of the leg that breaks the double top/bottom's neckline. You can see the visual illustration above. All the entry and exit levels are displayed on the chart. Good luck! If you have any question, feel free to write below. Otherwise, see you in the next chart!
Short
by Roker1
8
Basic structure trade on NZDJPYHey guys, this is a very basic concept of a structure trade. As you can see above on NZDJPY price just came out from a consolidation period and put new structure highs. At this moment i know my bias would be long; but i can't enter a trade long on the top of the movement, i should wait for price to give me a better entry in order to catch the upward move. My analysis on higher timeframe tells me that price should test 83 flat and that's why it would be my second target. Anyway, the previous resistance should now becomes support and it lines up with .618 retracement of the impulsive move that break the consolidation pattern. For all those reasons i'm going to wait for the close of the current candle and see what it tells me. If it'll hold i'm buying this up, hoping for, at least, a retest of the highs and then maybe a move further on. If you have any question. feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Good shorting opportunity on AUDUSDHey traders, i've been watching this pair for a shorting opportunity for a long time. After banking some pips in a double top opportunuity we saw the market continuing to rally. While price's heading up, power is becoming lesser and lesser, as we can see on the RSI. That tells us that maybe a reverse is ahead. As soon as price touched the .618 level it's put an long wick to the top candle (selling pressure). Furthermore, if we scroll the chart we can see previous structure right at this level that also happens to be a psychological number (0,74). Those reasons all together make me predict a downward move in the imminent future. The last signal i want to see is a bearish engulfing candle. At that point, i'm goint to sell the market. Risk to reward ratio could be very nice. Let's see. If you have any question, don't hesitate to ask. Otherwise, see you in the next chart!
Short
by Roker1
USDJPY Planning to shortSpotted a nice bullish trend in USDJPY lasting for about a month and 9days (07/11/16 to 15/12/16) and now it seems to be having some retracement. So I setup my ranging market setup again but I'm looking to go short at Entry:116.958 (Stop-loss:118.624) if it isn't too late but if price levels has passed that level or doesn't touch again the I may enter a Entry:115.292 (Stop-loss116.958) with profit targets at the 618 retracement level (Profit Target:111.960) So from there we shall see if it continues to go bullish to enter a Long position or I'll trade the ranging setup if it starts ranging.
Short
by HillDo100
2