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Extensions

FIB-Extensions and why you might use them wrong!#Cypher-Pattern!Hey guys, here is my last video about FIBONACCI and its extensions. :-) No offens to those you use it in a wrong way -I did the same mistake! I just wanna show you how you should do it and wanna help you to improve your trading. :-) If you don`t really understand why, just check the first Video of my Fibinacco-series. Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? Need more education or signals? PM mw. :-)
Education
by Trading2ez
The BITCOIN-Puzzles AND The Missing Piece - I Finally Found it!Maybe... :) I have literally spent hours to make this chart and to figure out Bitcoin. I've spent hours to count the Elliott Waves down to the smallest sub-waves. I've spent hours talking with experts, who have more experience with Elliott Wave-theory than me. And none of us can make it work 100 % - It's one of the few times that has happened. But It kinda make sense, when we know, that the market the last couple of weeks heavily has been manipulated compared to what we normally see. Many Top Authors in here says the same, and I also hear it from big crypto-guys on Twitter. But now let's take a look at the 2h BTCUSD chart! First of all I want you to pay attention to the orange up trending channel we are in right now. The experienced trader can quickly see, that the price movements are pretty suspect. Sudden price movements in different directions - huge volume. A trend you very often not could count on and so on. Hereafter I want you to take notice of my purple puzzle piece. But hey, WTF? The corrective purple wave C is in the middle of the big green candle! Yes, guys. I have decided after this heavily manipulated move from the whales (the BTC-record when it comes to volume by hour. 24 times the MA20 Volume) to place the end of Wave C in the middle of the green candle!! On the smaller time frames you can see, it just fit, but doesn't live 100 % up to our EW guidelines. So we are now in the process of an 1-5 EW structure inside the channel. We are right now riding wave 3, but as you can see, we are almost falling out of the channel at his very moment. The bulls are fighting to keep us inside. It doesn't seem super convincing so far.. BUT! After I spent a whole day yesterday to study down to the smallest details, how the whales operate and have manipulated the market lately, I think I have figured out their plan. To make a long story short. They will help us staying inside this channel. That's all I can tell. When that is said. You can see, after I've used the Trend based Fibonacci Tool to determine our targets, how beautifully everything matches. - We have a perfect 50 % retracement on EW 2 - EW3 is exactly 161,8 % of EW1 And that means, ladies and gentleman, according to Elliott Wave Theory and Fibonacci Ratio Relationship, that we can expect a 261,8 % Fibonacci Extension on Wave 5, which is equal to.... 10,800 USD! <3 Before I'll wrap up! Remember we still have a lot of uncertainty with Bitcoin, so be careful when you trade, and wait for confirmation on a direction. And please avoid margin trading if you are new to trading. I know it's more fun. It's more like gambling, it goes faster, you can win more money more quickly, and your BRAIN and REWARD SYSTEM loves it because it triggers and releases all the fun neurotransmitters like adrenaline, noradrenalin AND DOPAMIN! But be careful, my friends :) D4 Loves You <3 BTW. I'm really overwhelmed with all the love and support you have given me lately - thank you so much. I've got so many messages. Thanks from the bottom of my heart - and please leave a LIKE :)
BITFINEX:BTCUSD
by D4rkEnergY
308
EOS is looking FIERCE _____________________________ Idea: We have HEAVY bullish divergence on the RSI and a good target for the 1.618 to be the end of wave 3 _____________________________ Warning: we did hit the 1:1 extension of 1 and immediately corrected from there, I am assuming that this was only a subwave of 3 rather than the entire wave but i could be wrong on this point ____________________________ Alternative: If 3 only went to the 1:1 extension then i would treat this as a leading diagonal and still expect another push up ____________________________ Note: This is EOS/ETH but there shouldn't be too much of a difference between this and EOS/BTC
ELong
by NotGemini
EUR/AUD buyI am not interested in selling EA again yet. Called the sell at the top, and the buy from the bottom BTW, just not in here. I expect some further correction up. I removed all my trend fibs and simplified for clearer chart. I see more downside but expect another leg up before any bearish continuation. I feel like the current pennant that it is in on 1 hr is incomplete. A small move down and rejection from the zone below (see black ray line) would measure exactly equal to first leg of current correction and put price at .618 retrace of choppy, corrective, truncated diagonal down (at least how it looks now). Which would make perfect sense to me. That level would also be the 1.236 fib extension down from smaller corrective pattern as I have analyzed it. It's possible it could produce a nice setup that keeps going down but I doubt it without another push up. I want the buy for now. If dollar is bullish, considering Gold prices, Aud will drop harder than Euro, thus making even more sense for the EA near term buy. Then I want the sell, but I'm looking later on for that. Watch the video. I will try and update my other posts sometime before market open. Soon I will have my company and screen space up and going and will provide more timely entry points because it is all about that price action baby, but for now, these types of posts is all I can do.
Long
by thillygoosth
USD/ZAR 7 swing Long and Short opportunities long term.As of now, oversold on weekly and daily. Has a large zone it can extend into, but as of right now is looking like a classic modern day 7 swing pattern, which if completed, would bring it right to the .618 retrace of major low to major high... If you see this playing out, which looks like it will trade accordingly. These are the types of "supply and demand" trades you want, at least in my humble opinion. This is some high time frame stuff though so understand that...
by thillygoosth
2
BTCUSD Perspective And Levels: Risky Business.BTCUSD Update: Nothing new on the new high front except for a new high of 7598. When markets trade like this, it is always a good idea to really zoom out to get a sense of proportion and risk. People ask me why is it that I won't go long if I am projecting targets at the 8k level? I realize when I answer, "Risk is too high" that is vague. So in this chart I will demonstrate what I mean. For those who are new to trading in general, the expectations that you have in terms of time frame are a big part of defining risk. Swing trading (days to weeks) generally presents a multitude of risks, with one being larger daily price ranges compared to day trading (minutes to hours) especially in nutty markets like this one. This is why I have been encouraging day trading and staying away from swing trades. When I say I am not taking any swing trades long, it is because of the potential of the pullback vs. the potential of continuing higher. The weekly time frame of this market paints a clear picture of this potential in terms of price proportions. Two price extension levels projected from the recent wave 2 and 4 swing lows point to 7901 and 8006 levels as the 2.618 and 1.618 proportions respectively. These are extensions measured on the weekly time frame and are overlapping near a common price point. Overlapping extensions on large time frames like the weekly usually offer a more reliable point of reference in terms of potential. In my previous report I had a smaller time frame extension in the lower 8k area as well. That is only about 4 to 500 points away which can be achieved in a matter of hours. (Great for day trading). This is a reasonable expectation of potential because it is based on price structure. Now let's consider the pull back potential. When I measure the entire rise in this BTC beginning in the 150s, I get a .382 support at 4776. That means it is reasonable for price to pull back to this level, and still be within a price structure that is bullish. This level also coincides with the old resistance of 4970 (Wave 3 high). Now keep in mind, this does not mean price WILL retrace this far, it means that IF it happens, it is perfectly normal and would offer a buying opportunity. (A move like this can take weeks to play out). So what does all this mean? In theory, if I got long now for a swing trade, and I want to set a reasonable stop based on big picture price structure, I am looking at 1500 points, vs a potential 500 point profit (1:3 reward/risk?). The situation that is driving this market is unusual and serves as an outlier. As a short term trader, I am looking for repetition so that I can determine reliable signals and achieve consistent results, not long shot one offs. If I wanted a long shot, I would play roulette. 1:3 reward/risk? That means if I short it, my reward/risk is 3:1! The bears are forgetting that this is not the only factor when it comes to measuring risk. There is also the probability of the trade going in your favor on this time frame. As I wrote about in my previous report, there is no structure in place at all that makes for a broader bearish argument. This conflict is also another good reason to either day trade or stay out. This environment presents a problem that day trading solves because you are not exposed to all this risk, but can still benefit from the lingering bullish momentum. In summary, when it comes to swing trading, being aware of the big picture is a helpful exercise that offers insight that is not available on small time frames. The example that I illustrated here is not a prediction, rather it is an idea of what is within reason based on price proportions. Price may not come close to retesting 4770 when the larger magnitude correction unfolds, but even if it pulls back half way, you are looking at the higher 5ks which is quite a ways from where price is now. If this doesn't paint a clear picture of risk, than I don't know what will. Comments and questions welcome.
BITFINEX:BTCUSD
by MarcPMarkets
21
ABCD Pattern on Daily ChartPrice action has recently broken previous support and put in a lower low, lower close and has now retraced back into structure (now acting as resistance) taking a fib measurement from the A leg down to the B leg we can also see price has retraced up to the 618 level!!! with the RSI indicator being over brought!!! looking to short the C Leg taking profit target at the 105.316 also structure also an equal measured move from A to B Leg also fib extension level 1.414
Short
by LukeFagan
1
EURUSD Daily: Last Reminescence of the Uptrend-Completed AB=CD (AB 48 bars, CD 44 bars, with BC at 0.618 retrace and CD 1.414 extension over AB) outside higher BB with each wave touching the trend line. -RSI hit same resistance at 70 since february, CD wave showing signs of weakness now. DMI confirms the maturity of this uptrend. EURUSD now at 0.618 and important support level. Since 3 days price has been moving inside a falling wedge: Expecting last leg to about 1.152, which is 0.618 retrace and upper BB level on daily chart, before starting to downtrend with first destination to approx. 1.12
by Aurocks_AIF
GBPCAD Long: Bullish Confluence with High R/RGBPCAD has completed a bullish bat on the 15m TF. Zooming out to 1HR we can observe a double bottom forming at the PRZ. Two longer-term trendlines provide added support at this level. The daily TL also forms a potential bottom barrier of a triangle pattern where the first bottom serves as touch four. Targets are placed at structure high and 1.272/1.618 extensions which are confluent with other important levels (see chart for details). SL is placed below recent lows for a R/R of over 18 if support holds. Wait for candle close for another bullish pinbar confirmation before entry for a more risk-averse approach. Shorter TF Bullish Bat Complete: Bullish Confluence: Bullish Bat Potential double bottom Daily TL Support 4HR Trendline Support Potential triangle forming on daily Bullish pinbars forming indicating buying pressure
Long
by glennmercer
4