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Fibs

CADCHF Short Entry at long-term 50% retracementCADCHF has retraced to a 50% retracement line that has held for almost two years, so there's a good probability that this line will once again provide resistance. If the 50% line fails, next potential short entry for me (on a daily time frame) would be at the red 61.8% retracement line. The not-very-clear pink arrow over to the left shows when these fibs were first drawn, at the start of 2015. The 0%, 61.8% and 50% lines have provided a few good longer-term entry points since then.
Short
by markyoung
USDCAD Long entry at FIb retracementThis four hour chart has a rolling Fibonacci pattern based on 8 hour bars overlaid - USDCAD has tracked nicely to 8 hour fibs in the past, often cycling between the 50% and -23.6% extensions of the most recent swing (highlighted by the arrow line). RSI in oversold territory with slight bullish divergence (RSI slightly up versus lower lowers in recent bars) Entry @ 1.32654 , initial target the yellow 50% retrace line @ 1.338, stop below -23.6% line
Long
by markyoung
NZDUSD cyclical movesNZDUSD has been cycling up and down from the 50% retrace of a June upswing, and is now in heading up again after finding support at 50%. Past price action shows a good probability of reaching the 0% line around 0.73 This current set of fibs was drawn July 7th using Weekly data and has highlighted a few tradeable entries over the past four months or so. This pattern remains valid until either -23.6% or 61.8% line is broken. The ZXY and DXY currency indexes are currently moving in opposite directions after reversing from recent support & resistance. I think this opposite movement - negative correlation - increases the chances of a profitable change, and at the very least gives a headsup if one of the currencies in the pair may work against the trade. A great entry would have been the point highlighted by arrows - all three charts lined up increasing likelihood of a profitable trade on the NZDUSD.
Long
by markyoung
Multiple confluences for a short opportunityWe formed an AB=CD move that completed right around the 1.270 ext area, and that makes us think that the market is moving in a harmonic and structural way. Then we got our double top with RSI divergence first top being Overbought, and that got me interested in the setup. Looking for an opportunity to enter short in this market found a potential Gartley that completes in another confluence zone of Fibs ratios, (.786 & 1.270). --If those ratios would have matched perfectly on each other it creates the well-known “222 Gartley”-- So for me, this is a valid trade and I'm looking forward to it. Hope it completes and gives us the opportunity to join before the NFP. Keep it simple, and focus on the process Jean Twitter: @Jeanc680
Short
by JeanConsole
Long Term TradeThis is a long term trade, and I'm expecting it to look a little something like this. Take a buy at the very bottom of the channel possibly hitting tomorrow during news event, I expect it will test that area one more time, and I will ride the wave of pips all the way to the top of the Channel. Long term trade possibly multiple days and multiple weeks. Please do your own analysis. Taking a buy at the very bottom of the channel makes this a LOW risk and HIGH reward trade for me.
Long
by Sable
1
GBPUSD : Counter trend shorting chance !Hey Guys, Though I had drawn this much earlier I was waiting for the right moment to post it. So as I have expected GBPUSD came up to resistance area, shot over little bit. But we have ABCD pattern completion in same resistance area. If we draw couple of fib lines you can also find how well fib levels align in the resistance area. With RSI also being oversold in Hourly GBPUSD, we can initiate short positions. Hit Likes to support the idea...Thanks for your support ! Happy Trading !
Short
by InsiderB