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121pattern

SNXUSDT (D) 121 Pattern The information contained herein has been prepared for general information purposes only. The comments and recommendations contained herein are based on the personal opinions of commenters and advice givers. It should not be interpreted as a recommendation to buy or sell any investment instrument or a promise of return. These views may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results that meet your expectations.
Long
by Fibo114
🌟 👑 LEVELS TO WATCH 👀 & WHY Hello Traders, Let's turn our attention to the gold market, where an exciting trading opportunity is unfolding. We simply cannot overlook this promising setup. Here's the analysis I have prepared for you: On its daily chart, gold has formed an advanced harmonic pattern, specifically the 121 pattern. This pattern signals potential significant movements in the near future. Currently, the price is hovering near the short entry level (EL) at 1928.69, presenting a potentially lucrative entry point for traders. To manage risk effectively, consider setting protected stops at the following level: - Stop (ST): 1955.15 As we embark on this trading journey, let's first focus on Target Zone 1, with the following objectives in mind: - 62% of XC: 1833.05 - 79% of XC: 1800.49 If you found this insight helpful, we would appreciate your support with a like and a follow. This will enable us to continue providing you with quality analysis in the future. Thank you!
PEPPERSTONE:XAUUSDShort
by TradeChartPatternsLikeThePros
6
GOLD👑 (XAUUSD) KEY LEVEL TO WATCH 👀AND WHY 15 MAYTraders, in order to buy and sell, make decisions based on price history and use patterns to identify future price movements. Successful pattern trading requires the acknowledgement of identifying trends, consolidations, support resistance levels and reversal to place stops and targets to forecast price movements. Here i will discuss one of the key reversal patterns and present you examples of them: The basic ABC pattern has been a continually reliable trading signal. The ABC Chart pattern comes into many other patterns. If you look at the Elliott Wave, the beginning form of 0, 1, 2, (0A, 1B, 2C). The ABC is also named 1-2-3 waves. The ABC—exists in other patterns such as Gartley or the AB=CD, and can also be found in pennans, triangles, rectangles, head and shoulders, double tops, double bottoms. Anybody can learn how to recognise this ABC pattern and then trade it. They can actually use this knowledge to create a dozen more patterns because of its basic structure, which exists in a dozen or so patterns. Traders would be able to use the ABC Patterns knowledge in all market conditions across the board. That’s the critical part of trading success. When you identify the ABC pattern, you can embed it into other patterns surrounding it. Those are the patterns. For example, the pattern with the highest success rate that I’ve got in my research is the 121 pattern, which is like two ABC one after the other . The 121 can be a continuous or reversal pattern, and when it forms, the success rate is high. The ABC is one of the superior patterns to trade. ABC BULLISH PATTERN See example below: another example fiferent market Like I mentioned above, we can embed the ABC into other patterns surrounding it. For example: The ABC Chart pattern and its related AB=CD Chart Pattern are prime examples of "Symmetry" in the markets. These "Harmonic" patterns help traders to identify buying and selling opportunities in all markets and in all time-frames. The AB=CD Example below : OK, you may be getting overwhelmed by these patterns. Let's talk about DXY and why? One of the most popular indices to watch for gold investors is DXY. We all know or at last the majority of traders can use DXY in correlation with Gold, this means: if Gold price goes down, DXY price goes up. Let me put this into context... Yes, more patterns... DXY Double Bottom: Gold AB=CD Bearish We have identified our patterns and their correlation with other markets. Here, the analysis of gold could be beneficial in order to forecast the price movement. Let's take it further... what about relative to Gold? What other market could help us put everything in context here? HUI: again one of the most popular indexes to watch for gold investors, but different to DXY. HUI which consists of a basket of 15 gold mining stocks. The index is positively correlated to gold. This means if Gold goes down, HUI goes down. What do we have with HUI in terms of patterns? Well, since HUI relatively correlates in a similar manner, the price structures are very similar. HUI Chart Below: HUI chart we can identify a 121 pattern emerging, basically 2 abcs one after the other, with a price completion zone around 200. ​Let's take it further: Silver 121 emerging below This is my conclusion to look for beariness in gold next week from 15 may 23' Gold AB=CD Bearish, DXY Double Bottom HUI 121 Emerging Silver 121 Emerging
NYSE:HUIShort
by TradeChartPatternsLikeThePros
3