Get started

ABC

5th Wave Almost Complete - SELL The BreakdownGood evening traders, Crude oil has seen a bullish breakout from a bull flag pattern. However, we are possibly seeing a 5th wave top setting up at the moment, inside a rising wedge formation. Due to positive vaccine news and the global economy coming back online in the near future, the long term picture remains bullish for crude oil. However, the short term picture could see a pullback due to the technical structures. We are waiting for a breakdown from the rising wedge formation to enter a sell position. Stop loss will need to go above the most recent swing high. Any thoughts or comments are welcome.
TVC:USOILShort
by Trading_Tony
2
Bitcoin it's into this bearish movement soon!!! ABC correction!!So, this is a counsel for you on what kind of trend we are. So, at the moment, we could to continue drop in the next days, remember that Bitcoin doesn't have force to continue up and maybe a correction it's neccesary to continue up!!! Now, I believe that Bitcoin it's trying to break up the historic maximum near of $20,000 USD. Remember the Bitcoin history maximum was $19,664 USD. That it's a higher price that Coinbase exchange registered in the history of Bitcoin. So, I have my own target to find down a short position if Bitcon for second time doesn't find with successful to break down the maximum historic price that Bitcoin it's reach up!!!
COINBASE:BTCUSD
by harisonhbn9718
Bitcoin - ABC correction ?I think it would actually be good to complete an ABC correction at this point. It would give all the indicators a chance to reset, fill the CME gap, and give us all a chance to back up the truck. :) You can see where the price broke and retested the yellow trend line and it would make since to continue down to either the 1.0 or 1.27 Fib. Of course Bitcoin does what it wants, when it wants. I already have a good long position but if the opportunity presents itself I will add more under $10K. Good luck! BBS out.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
2
''The Great Gartley Controversy''Here is a link to Scott Carney's own web-page, supposedly something he has written himself: harmonictrader.weebly.com I want to outline something interesting here. I quote from the article above: '' It is important to note that there are others who have assigned different Fibonacci numbers to the framework of the Gartley Pattern. However, they have used a variety of Fibonacci numbers at the D points, essentially labeling any AB=CD pattern as a Gartley if it completes at a 0.618 or 0.786 without regard for the precise alignment. This has created much confusion among the technical community and it has challenged the reputation of the pattern. '' Before going further into this, I also want to note a key takeaway from this quote. When he says that there are ''others'' who have assigned different Fibonacci numbers to Gartley patterns, he is talking about Larry Pesavento. Before ''The Harmonic Trader'' was released by Carney in 1998, Pesavento had already published books on the subject in 1997. It did not take Carney long to trademark harmonic patterns thus eliminating Pesavento's chances of ever mentioning it again. In the article above, Carney talks about people spreading misinformation, when in fact it turns out he's actually the one doing it. He went on to market it, and of course the brokers loved it! So enough about all this controversy.... Lets look at the chart! Here we see what appears to be a Gartley pattern formation with a completion at the 0.618 retracement! I wonder what Carney has to say about that? Should you wait for the 0.786 retracement to enter as the mainstream harmonic trading strategies suggest? Pesavento simply explained that what we are looking for is golden triangles Carney makes it very complicated. What are your thoughts on The Great Gartley Controversy?? Leave a comment below
BITMEX:XBTUSD.P
by MikulovicFOREX
1