Expansion
Practical Exercise - Applying Fibonacci ExpansionFibonacci expansion is usually used to forecast key levels and areas where a price movement will have a high probability of exhausting in relation to the previous correction.
Practical Exercise
1) Pick a currency pair, it can be any currency pair, any timeframe.
2) Based on the most recent development in price, apply the fibonacci expansion tool.
3) Post your exercise on the comment section in this thread.
4) Repeat this practice to gather a total of 10 examples.
EURJPY - BEARISH BATAfter weeks of doing absolutely nothing, we've finally seen some directional movement on the EURJPY thanks to some ECB stimulus talk this afternoon. This expansion is leading price up to a previous level of structure support which also offers a potential bearish Bat formation as well.
Akil
I don't know who's more upset about the USA not qualifying for the 2018 World Cup, me, or the sponsors (Fox & Nike)
EURGBP - Consolidation Lead to Expansion The EURGBP is currently in a state of sideways movement which is called consolidation. Consolidation leads to expansion, so as i analyze this price chart they question that I want to ask myself is
IF Price action breakouts out to the ___ side
THEN where is it likely to continue to.
Doing so will allow me to see if there is enough potential profit (with limited risk of course) to create a trading opportunity.
This pattern formation is called a bearish flag and it traditionally breaks out to the downside. However, because the consolidation occurs at a previous level of structure, I's fair game either way in my opinion.
Akil
"Today is the start of our busy news cycle. Be safe out there traders!"
USDCAD Sell IdeaW 1 - Price broke below 61.8% and it is now re-testing this level. We are after sells in the longer term.
D1 - Trend line, Fibonacci Retracement 23.6% and 61.8% Fibo Expansion, they all come to the same zone. Will that be enough to stop this rally? Let's wait and see. What we know for sure is that we want to pay attention to this level.
H4 - Divergence already forming. We are inside the strong resistance range. There is a new updated up trend line that we are following.
Conservative Approach - Double trendline breakout principle or wait for the trend line and most recent low to be broken down, then short pullbacks.
Long cndt - Expansion breakout cndt looks good for another push higher with expansion breakout stock made a two month new high with bullish three white soldiers buy stop in with 24hr expiry. its good to trail these trades usually when they go well but with earnings just a hit and run job for me.
Target continues urban expansionThe Lower East Side of Manhattan, a gritty precinct once famous for crime, junkies and denizens of punk rock, is about to get its first Target.
long lsxmk - expansion breakoutwith so many earnings this week it's not easy to find breathing space so i'm only really interested in hit and run jobs and lsxmk fits the bill for another expansion breakout buy stop in at 41.03 with 1 day expiry
Long - cytk on expansion breakout Cytokintics looks great for a follow through on expansion breakout made a 2 month new high on surging volume due to being listed on the s&p smallcap 600 with last closing day being the largest in its range of the last 7-9 trading days. Buy stop in just above the breakout high with 1day expiry.
This stock is also undervalued, leading its peers with good fundamentals in recent headlines.
$PLSB Massive Expansion is Gaining EyesBelow are just some of the websites currently selling their brands:
www.actionbeverage.com
www.amazon.com
www.amazon.com
www.amazon.com
www.marcheleos.com
www.walmart.com
www.heb.com
www.pbwc.ca
www.sendiks.com
texas-wholesale.com
www.standardsalescompanylp.com
In addition to 750+ stores in the last 9 months and the 10K due anytime we could see a nice pop like we did during the last 10K from .06 to .20
Bullish Bat Pattern for possible Wedge Breakout!Hey gang,
got myself involved in the bullish bat pattern @ 1.0762
Looking for Targets at previous highs around 1.0815 area.
A lot of support in this zone (61,8 retracement, structure, channel etc.)
Trade your plan!
AUDUSD - LongExpansion correction
This allied with the FX_IDC:XAUUSD and DXY need for prolonged correction should offer AUDUSD some strength to complete the expansion.
USDJPY - Sell breakout Hello, this is a 1H possible shorting trade. Don't forget trading the actual trendline can already be too late. Watch for a shorting position before the break of the trendline.
Aim for the 1.618 expansion of the corrective structure.
COUP starting from baseCoupa Software : base with range contraction goes into range expansion mode now NASDAQ:COUP
MEOH new 2017 high, working channel upMEOH with range expansion after contraction and new local high in 2017. Earnings are out already. Should work its way up the channel.
SPX 500, entering in sell zone.SPX 500, entering in sell zone,wait for a good signal before jump in.If it pass this area, look for sell at 2178.5
Consolidation is coming to end soon - SHORT (first then LONG)Shot for ~90 pips, then take the extra Long after that
MACRO VIEW: MORE EURUSD UPSIDE IS PROBABLEEURUSD has broken above 1st standard deviation from quarterly mean (66 days) amid expanding volatility (measured by 3.2 standard deviations from quarterly mean)
Upside probability is apparent, and the closes target is 1 year mean (264 days) at 1.1685. Move is confirmed when price breaks above relevant highs (1.1485)
Stop level is quarterly mean (at 1.1085)
However one should watch out for oil trend. If WTI oil keeps falling, EUR is likely to follow (as happened back in 2014 autumn)
FX CHART OF THE DAY: USDCAD LONG (UPTREND PROBABILITY)USDCAD has broken above the 1st standard deviation from its weekly (120-hour) mean on Wednesday (June 22) amid highly compressed volatility.
Since then USDCAD trades above the 1st st deviation, while the weekly volatility shows clear expansion, which indicates more upside probability purely on technical basis.
It is thus possible to look for long positions at pullbacks to the upper 1st standard deviation from the 120-h mean (now at 1.3015), with stops right at the mean itself (now at 1.2980).
Traders should also consider news events coming out 12:30 GMT (Canadian Retail Sales and US Jobless Claims), which can trigger unexpected price volatility on USDCAD.
Mirroring, Harmonics & ExpansionsI expect a mirroring of the price action from the left side of the B point.
Thus the CD leg should have the same (negative) slope as the XA leg.
Then I noticed that it would form a harmonic pattern and I checked out the harmonic ratios.
Turnes out that all are fib ratios. The OTE sweet spot is actually a fib ratio, too, but not many know it.
Out of interest I applied a fib expansion on the last beakout leg (broke out of inverse H&S)
and the typical target 0.764 - 1 falls right into my previously established target area.
To sum up, there is great confluence of resistance around 275 where I will be looking to sell.
Rightnow at 245 it's still a clear BUY up to 270 minimum !
Also check out the MAGNUS® Cycles on Bitstamp daily. It just plotted a rare buy signal aswell !
You can find it by typing "magnus" in the search box within the indicator menu.
Good Luck with your trading and take care :)
If you have any question feel free to PM me or leave a comment bellow.
