Using Fibonacci Retracement level for price target moves for support or resistance

(Last Updated On: June 19, 2018)

 

After going back to Nictrades to understand the detailed way of implementing the scanning ‘tools and indicators’ I developed for Crypto, I have gone farther into investigating the use of Fibonacci retracement levels. There are numerous scenarios you want to measure these levels for price target levels. You can swap out these levels to create new support or resistance levels for when you want to place market entry or exit.

It is important to understand how to generate the various minima and maxima levels in any times series you choose. What is demonstrated is a true time series from a crypto pair found on Binance.

Note that Nictrades can be found here https://www.facebook.com/NicTrades/

I plan to introduce new videos to generate:

  1. Upper and lower trend lines in using another way to find support or resistance.
  2. Use moving averages (20 and 50 SMA with 200 EMA) which shows when a pair goes sideways. You can also use any of these moving averages as a support or resistance line as well.
  3. How to gauge the probability of a pair is going into a market reversal.

Important stuff indeed. All of these will be reported in detail of the top performing crypto currency pairs found from Binance. You can get more details of this service here.

Quant Analytics

Thanks

pricing levels raw notes of NicTrades of June 4 and 11 are now posted

NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!
This entry was posted in Bitcoin Crypto Currency, Quant Development, Quant Opinion and tagged , , , , , , on by .

About caustic

Hi i there My name is Bryan Downing. I am part of a company called QuantLabs.Net This is specifically a company with a high profile blog about technology, trading, financial, investment, quant, etc. It posts things on how to do job interviews with large companies like Morgan Stanley, Bloomberg, Citibank, and IBM. It also posts different unique tips and tricks on Java, C++, or C programming. It posts about different techniques in learning about Matlab and building models or strategies. There is a lot here if you are into venturing into the financial world like quant or technical analysis. It also discusses the future generation of trading and programming Specialties: C++, Java, C#, Matlab, quant, models, strategies, technical analysis, linux, windows P.S. I have been known to be the worst typist. Do not be offended by it as I like to bang stuff out and put priorty of what I do over typing. Maybe one day I can get a full time copy editor to help out. Do note I prefer videos as they are much easier to produce so check out my many video at youtube.com/quantlabs