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Fibonacci and targets

  • #81
  • Mar 21, 2020 7:45am Mar 21, 2020 7:45am
Normally my first target is 1,618, but in this case it was ignored, and there was a suprote in the 200, so I made another measurement between zero and 200.
And the price consolidated below 1,618 of the second measure, I think it is a good correction.
Will this trend return and reach the level of 400?
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  • #82
  • Mar 21, 2020 8:37am Mar 21, 2020 8:37am
Quoting Sorobanista
Normally my first target is 1,618, but in this case it was ignored, and there was a suprote in the 200, so I made another measurement between zero and 200. And the price consolidated below 1,618 of the second measure, I think it is a good correction. Will this trend return and reach the level of 400? {image} {image}
Thank you kindly for sharing this information with us O.P. However, I would like to ask about your entry to the buy side considering the last 3 candles. Not only are they all red but not one of them have been engulfed. So my question is why would one even attempt to buy at this fib level when the reality is that not one bull candle has appeared?
Threesome Daddy
  • #83
  • Mar 21, 2020 9:14am Mar 21, 2020 9:14am
There is a theory that the maximum and minimum from Monday to Tuesday, determines the expansion of the week.
Using these measures on Friday he broke the maximum of the previous day and closed above the previous day.
It may be the sign of correction.
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  • #84
  • Mar 21, 2020 9:21am Mar 21, 2020 9:21am
Quoting SingaRich
{quote} Thank you kindly for sharing this information with us O.P. However, I would like to ask about your entry to the buy side considering the last 3 candles. Not only are they all red but not one of them have been engulfed. So my question is why would one even attempt to buy at this fib level when the reality is that not one bull candle has appeared?
Thank you, it's good to exchange prints.
A purchase can be made with caution if the Morning Star pattern is confirmed.
More cautious people could expect to break the wave high at 1,19425.

I could say that it is not a star pattern because the candle is not completely separated from the two, but as the green candle is already above the 200 level, I think it already has strength.
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  • #85
  • Mar 21, 2020 9:45am Mar 21, 2020 9:45am
Another resource I use that I think is important is the daily fibonacci pivot point.
The next level has not yet formed so I'll wait.
The yellow line is 0.382, a good entry is when you leave that level with confirmation on the M5.
Among the yellow levels are indecision and consolidation.
Other levels are, 100, 1.618 and 200, but I use it as a reference, I would know how far it goes with my fibonacci measurement with the projections.
When the next level is formed, I will wait for M5 to leave the yellow level.
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File Type: mq4 WP_Rico4.mq4   23 KB | 478 downloads
  • #86
  • Mar 21, 2020 10:43am Mar 21, 2020 10:43am
Quoting Sorobanista
Another resource I use that I think is important is the daily fibonacci pivot point. The next level has not yet formed so I'll wait. The yellow line is 0.382, a good entry is when you leave that level with confirmation on the M5. Among the yellow levels are indecision and consolidation. Other levels are, 100, 1.618 and 200, but I use it as a reference, I would know how far it goes with my fibonacci measurement with the projections. When the next level is formed, I will wait for M5 to leave the yellow level. {image} {file}
Thank you for that backtest pivot indicator. I will be sure to add it to my setup.
Threesome Daddy
  • #87
  • Mar 21, 2020 12:28pm Mar 21, 2020 12:28pm
Quoting SingaRich
{quote} Thank you for that backtest pivot indicator. I will be sure to add it to my setup.
Pivot point is very efficient, if you want I explained more about this strategy in this topic.
https://www.forexfactory.com/showthr...7#post12828337
  • #88
  • Mar 21, 2020 3:11pm Mar 21, 2020 3:11pm
But one thing is certain, one should not try to guess the end of a trend.
And in relation to the averages of 8 and 20 it is in free fall.
The most conservative is to expect to break level zero or level 100.
Despite having 3 candles going up and 3 going down it looks like the beginning of a wave.
The thing is to wait.
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  • #89
  • Mar 21, 2020 4:09pm Mar 21, 2020 4:09pm
My last speculation, the price rarely goes beyond 2,168 without a good correction or an end, consolidating before or after that level, then changing direction.
Other times the correction goes up to 300 and goes up again.
The first clearest sign of the selling weakness is the breaking of the last maxim.
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  • #90
  • Mar 22, 2020 9:35am Mar 22, 2020 9:35am
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  • #91
  • Edited 2:12pm Mar 22, 2020 1:46pm | Edited 2:12pm
A very strong pattern on the weekly chart, made me see that the EUR will fall a lot still ...
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  • #92
  • Mar 22, 2020 2:08pm Mar 22, 2020 2:08pm
See how the monthly pivot point 200 exactly matches the level 1.618 of expansion.
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  • #93
  • Mar 23, 2020 2:33am Mar 23, 2020 2:33am
At usdx a night star was formed, but correction of strong trends is usually up to 0.382, usually at least 50%, we will see during the week.
As the monthly pivot level of 200 has been well respected, perhaps 100 will also be seen.
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  • #94
  • Mar 23, 2020 3:01am Mar 23, 2020 3:01am
Normally consolidated at the pivot point, it seems to be triangulating.
You must pullback at 0.328 of fibo which is the yellow line.
Then go up to the 200 white average, which is 100 fibo blue.
Then fall back.
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  • #95
  • Mar 23, 2020 3:07am Mar 23, 2020 3:07am
This indicator of Fibonacci pivot points I use with the tool, I attached for those who want, I do not use the level of 0.618 to not pollute the graph anymore.
I added the numbering, the other one I attached didn't have them.
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File Type: mq4 Pivot_Point_Fibonacci.mq4   23 KB | 601 downloads
  • #96
  • Mar 23, 2020 3:15am Mar 23, 2020 3:15am
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  • #97
  • Mar 23, 2020 5:15am Mar 23, 2020 5:15am
I haven't entered the market yet ..
The hanged man does not seem to be confirmed, on the other hand in H1 it looks like an upward triangle, apparently there will be no correction.
I am very confident in the trend indication on the macd in H1 only.
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  • #98
  • Mar 26, 2020 2:22pm Mar 26, 2020 2:22pm
Some ways to check a level that supports a reversal figure or a candelstick for the end of the trend correction.
The common thing is to trace the retraction and check the levels of 50% or 0.618 and so on until checking the level with any of the items mentioned above.
The way I prefer is to design with the retraction tool in which the important levels are 1.618 and 2.618, in the graph the price is close to 2.618.
Another way is through the monthly, weekly and daily fibonacci pivot point.
It is not because it is monthly that it means that it will be large, the confluence of the levels can be verified.
The weekly pivot the price can be between the levels 0.382 since it passed straight through the pivot point, the next level of 0.328 can be a strong support.
In the monthly pivot the pivot point is close to 0.618 and also close to 0.832, we have to object to the price reaction at these levels.
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  • #99
  • Mar 28, 2020 9:25am Mar 28, 2020 9:25am
USDX
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  • #100
  • Edited 1:29pm Mar 28, 2020 1:09pm | Edited 1:29pm
Quoting Sorobanista
Some ways to check a level that supports a reversal figure or a candelstick for the end of the trend correction. The common thing is to trace the retraction and check the levels of 50% or 0.618 and so on until checking the level with any of the items mentioned above. The way I prefer is to design with the retraction tool in which the important levels are 1.618 and 2.618, in the graph the price is close to 2.618. Another way is through the monthly, weekly and daily fibonacci pivot point. It is not because it is monthly that it means that it will...
it looks nice can you please attached the moving averages that you have used in the screenshot
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