After encountering old chart, I though to redefine some coordinates. https://www.tradingview.com/chart/SPX/paB1OiCy-S-P500-Fibonacci-Channel/ It played out well, however I would like to experiment using actual chart-based extremes to predefine levels. Measuring historic market's most significant HH & LL with fibonacci channels to project psychological levels into the future. Logarithmic scale is a must for this type of analysis. Fibonacci Channels: Using bottoms for direction: Oct '74 & Mar '09 (complete cycles); 3rd point mapping extreme Mar '00 Top for a range. https://www.tradingview.com/x/cq41BHjP/ Direction: Mar '09 bottom & Covid bottom; relating to Jan '22 top to define more relevant range. https://www.tradingview.com/x/pANMmvXN/ Using multiple Fibonacci channels enhances trend analysis by providing a broader perspective on price movements. This approach identifies key price levels, confluence zones, and trend strength more effectively. However, it’s important to avoid overcomplicating the chart by focusing on the most relevant channels that align with the overall market direction.
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Hello everyone once again, Let's take a general look at BTC. In this analysis, we will focus on indicator-based and general analysis rather than news-driven commentary. At first glance, we can see that BTC has left behind a significant gap on the daily chart, which ranges between 85K-81K. This gap may need to be filled. Since this gap was formed in early November and has not yet been filled, it is likely that BTC will attempt to fill it if a healthy structure is established. Before reaching this gap, BTC might take a small bounce around the 90K weekly EMA20 support to catch its breath. Now, let’s analyze the indicators. Bollinger Bands: 4H Chart: BTC bounced without touching the lower band and is now testing the middle band. If BTC fails to break above this level, it could target 95,108 again. However, if it successfully breaks through this level with the support of MACD and RSI, the next target will be 98,914. Daily Chart: Nothing significant to mention regarding Bollinger Bands. Weekly Chart: BTC has not touched the middle band since 62K, and it still does not seem likely because RSI and MACD do not support such a move. EMA Averages: 4H Chart: BTC has fallen below the EMA levels and remains in this zone. For an uptrend confirmation, BTC must first break above the EMA20 and EMA50 crossover level at 96,810. This level is crucial as it combines two moving averages. If BTC surpasses this level, the next resistance levels are 97,244 and 98,012. Daily Chart: BTC attempted a false breakout at 98K but started pulling back. Currently, it is supported by EMA100 at 94K, which could serve as strong support in case of another pullback. RSI: 4H Chart: RSI has turned upward, strongly supporting the uptrend. Daily Chart: Initially moving towards a weak sell signal, it suddenly turned upward, supporting the uptrend. However, if selling pressure increases before the daily close, BTC could face a weak sell signal again. Weekly Chart: RSI was in a negative trend but has now turned upward, supporting the uptrend. MACD: 4H Chart: MACD has weakened its red candles, supporting the uptrend. However, a bit more consolidation would have been ideal. The reason is that while MACD is turning bullish, it is doing so with a weak buy signal, making it a less strong confirmation. Daily Chart: Although things appear positive, MACD has not yet provided a full-strength buy signal, as the buying power is still weak. Even though MACD has flashed a strong buy signal, the green candles are not well-formed, and there has been little movement in the past three days. If the histogram bars grow along with buying power, the uptrend will be better supported. Weekly Chart: After a strong sell signal, MACD is now showing an upward directional shift in line movement, but not yet in candle formation. Summary for Those Short on Time: General Outlook: BTC has not yet filled the 85K-81K gap, but before doing so, it might bounce from the 90K weekly EMA20 support. Bollinger Bands: 4H: BTC is testing the middle band. If it breaks, the target is 98,914; if it fails, it may drop to 95,108. Weekly: BTC has not touched the middle band since 62K, and indicators do not yet support a move toward it. EMA Averages: 4H: The EMA20-EMA50 crossover at 96,810 is a key resistance level. If broken, 97,244 and 98,012 could be the next targets. Daily: BTC failed at 98K and is currently at EMA100 support (94K). RSI: 4H: RSI supports the uptrend. Daily: It turned upward from a weak sell signal, supporting the uptrend. Weekly: RSI was bearish but has now turned upward. MACD: 4H: Red candles are fading, but the support is not yet strong. Daily: Strong buy signal, but buying power is still weak. Weekly: After a strong sell signal, MACD is now shifting upward. Conclusion: Although there are some risks in the 4-hour chart, the daily chart shows that BTC’s uptrend is supported. If BTC surpasses 98K, a stronger rally may occur. If BTC faces resistance, 94K EMA100 support will be an important level to watch. Thank you for reading! Please remember that your comments and likes encourage me to continue providing these analyses. Wishing you all profitable trades! ?
From what I’m seeing price is seemingly fatigued. There was a credible break on the 4H chart though - which is low-key worrying, HOWEVER on the daily chart? Sweeps on sweeps - which to me certify that price will be seeking a reversal of some sort at some point. Once one of the printed lows gets violated by price (as drawn on the chart - with a candlestick) the sell will be confirmed. I had a potential trade with actually played out nicely but I didn’t enter it, which I’m cool about as I wasn’t sure. I won’t be trading Gold until I actually get confirmation.
While every single indicator shows that BAN/USDT shows strong buy , our team diagree. Let's find out why.. Ban in the past 24hrs had a big pump of 120% , clear sign of manipulation.. Buyers started coming in and the coin will liquidate all of them.. A drop of 33% is expected from this coin.. Lets see if we are right on this one..
Market should have an approximate one-third contraction. Basic H&S forming.
Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 349/61.80% 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: B 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.
Looks like this is coming down hard until it hits low 50s, most likely with in 6-12 months, or by this December, I would buy then. All the best !!
While having strong knowledge and an effective strategy is essential for success, they alone are not enough to become a profitable trader. It is important to integrate other key aspects, such as: Risk Management Capital Protection: Adopt strict risk management by using stop-loss orders and limiting your capital exposure on each trade. Diversification: Spread your investments across multiple assets to reduce the impact of potential losses on any single position. Emotional Mastery and Managing Greed Stress Control: Remain calm in the face of market fluctuations to avoid impulsive decisions Discipline: Stick to your trading plan even during periods of high volatility. Managing Greed: Greed can lead to taking undue risks. It is crucial to remain objective and not be swayed by the lure of profit, which could compromise rigorous risk management. Patience and Perseverance Patience: Waiting for the right opportunities is essential. Rushing into trades can lead you to enter the market under unfavorable conditions. Perseverance: Trading is a continuous learning process. Learn from your mistakes and persevere, even after losses, to adjust and improve your strategy. Adaptability and Continuous Learning Market Evolution: Market conditions are constantly changing. A profitable trader knows how to adjust their strategy based on new trends and information. Feedback: Keeping a trading journal to analyze your performance, identify your mistakes, and progress over the long term is fundamental. By combining these skills – strict risk management, emotional control (including managing greed), as well as patience and perseverance – you give yourself the best chance to achieve sustainable success in the financial markets.