Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 20331/61.80% Chart time frame: B A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress: C A) Keep rising over 61.80% resistance B) 61.80% resistance C) 61.80% support D) Hit the bottom E) Hit the top Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern. When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point. As a great help, tradingview provides these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved. If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
hello friends According to the formation of a QM model, it is possible to enter into a transaction with risk and capital management. *Trade safely with us*
Hi traders, Market is bullish 4h, but at a resistance level with bearish engulfing candle 4h,this candle is telling us that, if this block of resistance is blocked, then the 4h engulfing candle is valid. Good luck. Not for financial purposes please.
Wait for bullish signal to continue and buy accordingly Confirmation of continued increase when there is a M30 candle closing above the old peak of 2895.4 Target: 2917 Stoploss: 2878
hello friends Due to the fall of this currency, we are now at the price floor and good conditions have been provided for buying, of course, with capital and risk management... *Trade safely with us*
Taking a closer look at BTC CME chart in late 2020, after a high of $14,000 Bitcoin Futures corrected and rallied back up (with a gap) to $12,000. After another 21% correction (almost closing the gap) we started to rally to all time high. Looking at the current chart today we have a very similar set up. From a major correction, and then a rally (Gap up) we have closed the gap. If the timing is exactly the same... (unlikely).., well see another rally to new all time highs. First target is still $130,000.
Hello Traders! As we can see Euro did not follow its Seasonal chart this month. Instead we got a bullish Euro and a bearish US Dollar. Overall following the recent swing points will guide traders towards the overall trend. Since we track these markets via Daily Chart it is nice to see common characteristics form for bullish months.
hello friends Despite the fall of this currency, we are now at the price floor and good conditions have been provided for buying, of course, with capital management... *Trade safely with us*
XAUUSD continues to maintain a bearish bias, although in this condition, the bearish trendline and resistance have already been broken. My bias will turn bullish once a crossover between the EMA 15 and EMA 20 occurs on the 4-hour timeframe.
In Continuation of my last analysis on 27-Jan-2025 https://www.tradingview.com/chart/NIFTY/6N1hUlG8-NIFTY-Analysis-levels-Prediction-and-next-ahead/ Updated on Daily Charts Bullish Wave Completion (Wave 1): The initial upward move saw prices reach a bullish wave completion zone between 21,179 and 22,481. This zone represents the culmination of a strong impulsive wave, with consolidation occurring around the lower band (21,179) after peaking. The support held firm, indicating potential for further upside initially. Extended Wave C or Wave 3 Profit Booking (Wave 2): Following the bullish peak, an extended Wave C or Wave 3 profit-booking zone was identified between 22,086 and 22,636. This zone triggered a sharp decline as prices hit the upper band, suggesting overextension and exhaustion of bullish momentum. The drop broke below the support of this zone, setting the stage for a corrective phase. Correction Wave (Wave 3): A corrective wave formed, confirmed by a 50% Fibonacci retracement of the prior upward move. This retracement level acted as a natural pullback point, with prices stabilizing briefly before resuming their downward trajectory. This wave indicates a healthy correction within the larger trend. Support and Further Correction (Wave 4): Prices found temporary support within the correction wave zone of 22,758 - 23,054. However, this support failed, leading to a further decline after the formation of Wave 4 on a minor wave. The chart marks this as part of an extended correction wave completion zone (21,613 - 21,894), where current price action is converging. Current Market Position and Outlook: As of the chart's context (March 2023, with the current date being March 4, 2025), prices are trading toward the extended correction zone (21,613 - 21,894). This zone represents a critical level where buyers might step in, but a break below could signal deeper losses. Short-term resistance is noted around 23,054, while a sustained move below 21,894 could target the Primary Wave 4 bottom at 19,683. This level aligns with a significant long-term support zone, making it a key area to watch for reversal or continuation. Trading Implications: Bullish Case: If prices hold above 21,894 and show signs of reversal (e.g., bullish candlestick patterns or increased volume), traders might anticipate a bounce toward 23,054. Bearish Case: A break below 21,894 with strong momentum could open the door to 19,683, especially if broader market sentiment turns negative. Risk management is crucial, with stop-losses recommended below key support levels and targets set near resistance zones.