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Fibonacci

How to Draw Fibonacci Channels Fibonacci Channels are used to determine fibonacci support and resistance levels within an identified trend. These channels can easily be drawn in both uptrends or downtrends to find potential areas where price action could change. Uptrend When drawing a Fibonacci Channel on an uptrend, a clearly identified trend needs to be established with higher lows being created. To draw the channel, first select the two low points on the trend, and then the high point in-between them. After the channel is drawn, the Fibonacci levels calculated can be used to help speculate price action by watching these areas as support or resistance. Downtrend When drawing a Fibonacci Channel on a downtrend, a clearly identified trend needs to be established with lower highs being created. To draw the channel, first select the two high points determined by the trend, and then the low point in-between them as shown below. Do you use Fib Channels? If so, share your ideas in the comments below!
Education
by TradingView
27
Using the Trend-Based Fib Extension ToolThe Fibonacci ratios are widely used among traders to help identify potential areas of reversal in the movement of price action. The Trend-based Fibonacci Extension tool utilizes three points on a previously identified trend in order to draw the Fib ratios on the chart. In the chart above, price was rejected twice forming a double top which is a fairly strong reversal pattern. To help identify potential areas of support and resistance we have drawn a Trend-Based Fib Extension. Using the double top patterns High, Low, and High as the three points for the Trend-Based Fib Extension, the Fibonacci ratios are drawn on the chart. In this example, you can see that price action respected these levels very well until finding strong support at a potential bottom that corresponds with the 200% extension level. But, notice the region in the yellow box on this chart. There seems to be no identified areas where the Fibonacci ratios show support or resistance. While retrospectively we can tell that the area of support found at ~ $12 (141.4%) in mid-November 2017 did not produce a new bull market. At the time there was a potential reversal at that region resulting in higher highs and therefore we could have pulled a NEW Trend-Based Fib Extension as shown below. As the new Trend-Based Fib Extension is identifying areas of a new uptrend, we see that these ares are shown in a way that they were not in the previously drawn Trend-Based Fib Extension. However, price was rejected at the 61.8% level and continued downward until the 0% extension level was broken, thus invalidating this Trend-Based Fib Extension. While the upward price trend did not continue, there was a local high that was made and thus could be utilized to create another Trend-Based Fib Extension to further identify areas of reversal for the continuing downtrend as shown below. Looking at this newly created Trend-Based Fib Extension, we see that the areas moving down to the 78.6% extension level are very well respected, at which time the price found support, creating a triple bottom reversal pattern. It is interesting to note that the 78.6% extension on this Trend-Based Fib Extension pull is at $1.82, and the 200% extension level from our first Trend-Based Fib Extension pull was at $1.95, a mere $0.13 difference in price. This area where the two levels of a Trend-Based Fib Extension or Retracement group together is know as a Fib cluster and indicates areas of strong support or resistance. With price forming a triple bottom and reversing from this level, is it possible that this is the bottom of this downtrend? Could a new Trend-Based Fib Extension now be pulled from a new Low/High/Low to identify potential areas of support and resistance? Give it a try and see what you find!
NYSE:AMCEducation
by TradingView
10
Good opportuniy to invest in GOLD.All observations on chart. MULTIPLE CONFIRMATIONS & EXPLANATIONS OF DRAWINGS As you can see gold bounced tom 38.2% fibonacci level a good level to buy the dip. 19% correction from the top till pre covid levels Falling channel pattern visible on charts, usually gives good move on the upside. Double bottom pattern breakout given today. Price comfortable above 20 moving average & made a new swing high Overall this is attractive price to enter from long term view.
TVC:GOLDEducation
by varadtambolkar
6
FINDING POTENTIAL SUPPORTMETROPOLIS COMPLETED 5 IMPULSIVE WAVE ON MINOR DEGREE FOLLOWING WHICH IT IS CORRECTING RIGHT NOW.POINT IS WHERE IT WILL END AS STOCK IS IN CLEAR UPTREND AND GETTING LONG IS IDEAL TRADE ON THIS STOCK TO TAKE AS WAVE 3 OF INTERMEDIATE WILL BE STIPPER AND RAPID. PRICE ZONE OF 2227-2211 CAN ACT AS GOOD SUPPORT REASON'S ARE AS FOLLOWS 1)PREVIOUS MULTIPLE HIGH'S WHICH ACTED AS RASISTANCE CAN NOW ACT AS SUPPORT WHICH COMES NEAR THE MENTIONED PRICE ON CLOSING BASIS. 2)50% RETRACEMENT OF ENTIRE SWING COMES@2227(WAVE 1),WHICH IS WHERE GENERALLY WAVE 2 CORRECTION END. 3)TODAY'S HIGH WHICH BRIEFLY CROSS 62% RETRACEMENT OF WAVE A@2509,REVERSED MEANING WE ARE DONE WITH WAVE B AND WAVE C PROJECTION OF 123.6% WAVE A FROM TODAY'S HIGH COMES @ 2211. ONE SHOULD LOOK FOR A BULLISH CANDLE IF PRICE COMES BETWEEN 2227-2211 ZONE.IF WE ALSO GET GOOD VOLUMES ALONG WITH BULLISH CANDLE IN THIS ZONE THAN THAT WOULD BE ADDITIONAL CONFIRMATION.
NSE:METROPOLISEducation
by UNDERDOG-29
5
Completion of wxy.will it be wxyxz or new impulse????Scenario-1 wxy done,currently we can expect either another wave x in the form of ABC or this could be start of an new impulse. As of now stock has retraced 61.8% level of 1493, after giving up move till 1557.Now where this retracement will end cannot be predicted,but generally if 61.8% retracement level is considered to be a good support,hence i am projecting wave c from today's low which comes @1600 along with entire 78.6% retracement of entire 7 swing's. Scenario-2 If instead this downfall continues and 1450 is broken on the down side than we can say that wave x has already been made and third correction in the form of wave z will commence DISCLAIMER:I AM AMATEUR ELLIOT WAVE THEORY PRACTITIONER AND MAY TAKE POSITION ON SOME IDEAS THAT I POST.ANYONE READING MUST UNDERSTAND THE RISK AND NOT JUST ACT UPON MY VIEWS.
NSE:HDFCBANKEducation
by UNDERDOG-29
1
ETH USD Harmonic Shark Price reversalEtheruum is on the move of price reversal. It has already made a high of $1439 and the projected between 1.13 to 1.618 Fibonacci level of XA. Now this pattern is creating a typical Harmonic Shark Pattern. Which is a bullish reversal in deep. We can expect a PRZ between $640 to $ 607. SO there might be the downfall of around $1200 estimated but this is the most compact zone of reversal which can be estimated from the calculation of different reference points but the downfall may touch 443 level also as per the reference points, chances are less. Though this is a bullish reversal so the targets are given with the dotted levels. This calculation is totally my viewpoint. Please trade according to your thought process.
BITFINEX:ETHUSDEducation
by absu21
Potential Nifty Top With Fibonacci and Elliot Wave TheoryDISCLAIMER:There is no guarantee of profits nor exceptions from losses. Technical analysis provided on the chart is solely the personal views of my research. You are advised to rely on your own judgments while taking any investing/Trading decisions. Past performance is not an indicator of future returns. Investment/trading is subject to market risks. Seek help of your financial advisors before investing/trading. I may or may not trade this analysis. Details in description. -------(((((Please LIKE & Donate Coins to support my analysis)))))------- Plotted Elliot Waves on Nifty Monthly Chart so lets find out potential top 1. Nifty Top Based on Elliot Wave Theory where Wave 1 = Wave 5 a. Consider Wave 1 start from 279 which is lifetime low of Nifty then wave 5 should 13589.2 Where wave 1 height is 6078.1 + 7511.1(low of Wave 4) = 13589.2 b. Consider Wave 1 start from 0 then Nifty wave 5 top should be 13868.2 Where Wave 1 height is 6357.1 + 7511.1(low of Wave 4) = 13868.2 2. Nifty Top Based on Elliot Waves and Fibonacci extension where Wave 5 is equal to 0.618 of Wave 3 which is 13800.95. The next Fibonacci extension would be 0.786 which is 15510.8 which is less likely to happen.
NSE:NIFTYEducation
by Niftydirection
5
Elliot Wave Projection of Eicher MotorsA possible projection of Elliot Wave for Eicher Motor stock. Stock is making impulse wave expecting it to break all time high. Just for educational purpose. DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The investment advice provided is solely the personal views of my research. You are advised to rely on your judgement while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisor before investing/trading. I may or may not trade this analysis --------------------------(((((LIKE)))))-------------------------------
NSE:EICHERMOTEducation
by Niftydirection
BTCUSD IS BULLISH - creating Harmonic Extended Crab Pattern BTC USD is creating an Extended Harmonic Patterns - The Crab Patterns B point retraced XA by Fib 0.618 (13102) level C Point is retraced AB between 0.786 and Fib 0.886 level. Now D point in the process of forming the important Fib extension of XA which is 1.618 level ( 29000 ) That is the projection as of now for BTC-USD in this bull run. Once it reaches 29000 level only then I can see the reversal. On reversal CD will form an extreme wave, which will be any where from 2.24 /2.618/3.14/3.618 levels projection of BC.
BITFINEX:BTCUSDEducation
by absu21
SGX Nitfy Consolidation PAHourly Chart of SGX-nifty shows the speed of movement came down since it got into the yellow parallel Channel and become range bound which is between 13222-13167. Now , until and unless it breaks the higher level of the range it will be in this sideway zone. But if it breaks out the yellow channel then there is the probability of move towards 13442/13529/13629/13779 levels ( These are all Fib extension levels previous lower low and recent higher high). Now if it doesn't breaks the yellow channel then it may continue and further chances of attempt of breakout towards upper side will be high till it stays in the intercept of both the channel. The chances will come down once and the longer it will continue in the yellow zone. Slowly it will show the weakness from side way to breakdown...
NSEIX:NIFTY1!Education
by absu21
Bank-nifty short term harmonic Forecast ( Time zone Forecast))It seems Bank nifty is in Uptrend I have done a study on harmonic patterns. As of now it is at the mid of CD leg so following things may happen... 1) If it sustain above 29412 then it may give a TGT 29550 , TGT 29825 , TGT 30170 , Final TGT 30625 2) Now if it start reversal from this level i.e. 29790 and breaks 28550 then we will get a TGT 27990 3) If It start reversal from 29790 level and breaks 28550 then we will get a TGT 27745 4) If it start reversal from 30200 level and breaks 28550 then we will get a TGT 27532 The probability reversal time zone is 26th to 27th December 2020
NSE:BANKNIFTY1!Education
by absu21
Nifty Elliot Wave analysis 11-11-2020 Still Some Upmove pendigDISCLAIMER:There is no guarantee of profits nor exceptions from losses. Technical analysis provided on the chart is solely the personal views of my research. You are advised to rely on your own judgments while taking any investing/Trading decisions. Past performance is not an indicator of future returns. Investment/trading is subject to market risks. Seek help of your financial advisors before investing/trading. I may or may not trade this analysis. Details in description. -------(((((Please LIKE & Donate Coins to support my analysis)))))-------
NSE:NIFTYEducation
by Niftydirection
ITC Deatiled Elliot Wave AnalysisDISCLAIMER:There is no guarantee of profits nor exceptions from losses. Technical analysis provided on the chart is solely the personal views of my research. You are advised to rely on your own judgments while taking any investing/Trading decisions. Past performance is not an indicator of future returns. Investment/trading is subject to market risks. Seek help of your financial advisors before investing/trading. I may or may not trade this analysis. Details in description. -------(((((Please LIKE & Donate Coins to support my analysis)))))------- Target price for wave v or wave (C) was actually 150 based on Fibonacci retracement plotted between wave 3-4 Planned video was around 10-12 minutes, plotted waves and targets for wave v(wave C) didn't got save so went ahead of time and become 16 min :D
NSE:ITCEducation
by Niftydirection
3