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Abcdchartpattern

XAUUSD Short for day tradersHi everyone, The Gold/ XAUUSD pracious metal has rejected on a local trendline and created a complete Bearish ABCD. When you look at that region on the daily time frame, it apears we have a bearish flag forming because we have multile confirmations for this shorting movement, we will now enter a short/ sell trade to take profit at our support cluster at 1820. Please share your thoughts. Disclaimer NASDAQ Guru offers general trading signals that does not take into consideration your own trading experiences, personal objectives and goals, financial means, or risk tolerance.
FOREXCOM:XAUUSDShort
by Mezzoforte_Privilege
XAUUSD DAILY STRUCTURE EXPLAINED XAUUSD on its Daily chart is forming a Cup and Handle pattern. The price is currently in the handle fase and trading a bearish wolfe wave with Estimate price of arrival at approximately 1443.647 at the low of the handle 382% retracement from Cup low. The price has given short signals on Tuesday 13 december due to a Berish AB=CD formation in H4 and is currently retracing to the 382% forming a bearish ABC in H4 chart. Short trades opportunities to 1443.647 may be available from the Week 19th DEc. Once 1743.64 is accomplished, long trades opportunities may be in place to target 1808.194 and looking for the breakout at this point to target further TP1 1879.013 100% AD 272% C&H TP2 1950.965 1272% AD 618% C&H TP3 2041.992 1618% AD 100% SYMMETRY DEPTH C&H With all that said Merry Christmas peace, love and trade safe. Le the money be with you lol TRADE CHARTS PATTERNS LIKE THE PROS 5 GOLDEN RULES 1: The Trade Setup The setup is the basic conditions that need to be present in order to even consider a trade. For example, if you're a charts patterns trader, then a pattern needs to be present. Your trading plan should define what a tradable chart pattern is (for your strategy). This will help you avoid trading when a chart pattern isn't there. Think of the "setup" as your reason for trading. 2: The Trade Trigger If your reason for trading is present, you still need a precise event that tells you now is the time to trade There are various methos using a trigger. A Price accion B Moving averages C Fibonacci 3: The Stop Loss Having the right conditions for entry and knowing your trade trigger isn't enough to produce a good trade. The risk on that trade must also be managed with a stop-loss order. There are multiple ways to place a stop loss. For long trades, a stop loss is often placed just slightly below a recent swing low and for a short trade just slightly above a recent swing high. Step 4: The Price Target You now know that conditions are favourable for a trade, as well as where the entry point and stop loss will go. Next, consider the profit potential. A profit target is based on something measurable and not just randomly chosen. Chart patterns, for example, provide targets based on the size of the pattern. Trend channels show where the price has had a tendency to reverse; if buying near the bottom of the channel, set a price target near the top of the channel. 5: The Reward-to-Risk Strive to take trades only where the profit potential is greater than 1.5 times the risk. For example, losing $100 if the price reaches your stop loss means you should be making $150 or more if the target price is reached. Other Considerations The five-step test acts as a filter so that you're only taking trades that align with your strategy, ensuring that these trades provide good profit potential relative to the risk. Add in other steps to suit your trading style. For example, day traders may wish to avoid taking positions right before major economic numbers or a company's earnings are released. In this case, to take a trade, check the economic calendar and make sure no such events are scheduled for while you're likely to be in the trade. The Bottom Line Make sure conditions are suitable for trading a particular strategy. Set a trigger that tells you now is the time to act. Set a stop loss and target, and then determine if the reward outweighs the risk. If it does, take the trade; if it doesn't, look for a better opportunity. Consider other factors that may affect your trading, and implement additional steps if require. This may seem like a tedious process, yet once you know your strategy and get used to the steps, it should take only a few seconds to run through the entire list. TRADE CHARTS PATTERNS LIKE THE PROS TRADING PLAN Setup + trigger = trade NO trigger – no trade 1 st Identify the pattern H1-H4 M30 ABC-AB=CD-GARTLEY-121 PATTERN’s 2 ND Fibonacci clusters zones (3 or more Fibonacci price relationships within a formation) If price tests and RESPECTS the setup zone, 3 RD Price action reversals patterns M30/M15/M5 OR LOWER TIME FRAME PRICE ACTION REVERSAL PATTERNS TRAP OR/AND HEAD AND SHOULDERS ETC 4RD Trade Entry: for A TRIGGER GO TO M5 TIME FRAME CHART Buy trigger 8 ema crosses above the 34 ema AND a prior swing high is taken out Sell Trigger 8 ema crosses below the 34 ema AND a prior swing low is taken out 5 th stops for BUY setup: Place a stop just below the low end of the price ACTION cluster setup for SELL setup: Place a stop above the high of the price action cluster setup 6 th TARGETS Option 1 take profit at the 61.8% 78.6% Option 2 Exit partials 61.8% 78.6% AND PROFIT 1.272, 1.618 and 2.618 IF THE TREND IS STRONG
OANDA:XAUUSD
by TradeChartPatternsLikeThePros
1
EURUSD Divergence: Potential bearish ABCD start | 1.8% TargetEURUSD Timeframe: 1Hr Short Day Trading Position Initial Take Profit : 1.068 (Uptrend channel correction = Pivot Point) TP2: 1.062 (If break the pivot) TP3: 1.056 or 1.053 SL: 1.077 (strong downtrend break upward) The pair was in a bullish tunnel last week. At the end of the week, it touched the 4H downtrend and seems to test the upper side of the tunnel within the 1 hour timeframe, then bounce back to the tunnel's bottom, then an opportunity to break it and activate the ABCD pattern in the long run. Traders should be cautious and monitor key levels of support and resistance, as well as any further bearish signals that may confirm this potential move. I would be grateful to get your feedback for this idea if you have any opinion to share. ✽↝✔ Esteem your Analysis and seek improvements ⌁ @AbdullahTech ♾
Short
by AbdullahTech
2
AUDJPY Potential Bearish ABCD Pattern | 1.9% TargetShort Day Trading Position Take Profit 86.300 (Completion of the pattern) SL: 89.1 (If breaking the pattern up) The AUDYPY pair has been showing signs of bearish divergence on the 4 hour chart, and a potential creation of ABCD Pattern while the Bearish big trend continues. The pair has started the downtrend since September 13th last year on the Daily chart and it will probably continue until reaching the support level on 86.00. Based on these technical analysis, it is possible that the AUDYPY may experience a bearish movement. Traders should be cautious and monitor key levels of support and resistance , as well as any further bearish signals that may confirm this potential move. I would be grateful to get your feedback for this idea if you have any opinion to share ✽↝✔ Esteem your Analysis and seek improvements ⌁ @AbdullahTech ♾
Short
by AbdullahTech
1
📊 Harmonic Patterns Cheat SheetHarmonic Patterns use the identification of quantified chart price action structures that have specific and consecutive Fibonacci ratio alignments that form the visual structures. Harmonic patterns calculate the Fibonacci levels of the price patterns to identify high probability reversal points on the charts. This method believes that harmonic patterns or cycles repeat on charts in cycles repeatedly. The key to using this strategy is to identify these patterns and to use them for creating good risk/reward ratio entries and to exit when a profit target is reached. Positions are taken based upon the odds that the same historic patterns will repeat after entry. 🔹 Butterfly The structure of the Butterfly pattern requires a specific alignment of Fibonacci measurements at each point within the structure. Most important, a mandatory 0.786 retracement of the XA leg as the B point is the defining element of an Ideal Butterfly Pattern and it acts as the primary measuring point to define a specific Potential Reversal Zone. In many ways, the Ideal Butterfly Pattern is like the Gartley Pattern because it requires a specific B point retracement and possesses a tighter array of Fibonacci ratios within the structure. Specifically, the Butterfly incorporates a 1.27 XA projection with a “tame” BC projection, which is usually only a 1.618. In addition, the Butterfly usually possesses an equivalent AB=CD pattern or an alternate 1.27AB=CD pattern. Although the equivalent AB=CD is a minimum requirement, valid Butterfly structures rarely exceed the alternate 1.27 AB=CD completion point. 🔹 Shark The Shark Pattern is dependent upon the powerful 88.6% retracement and the 113% Reciprocal Ratio, works extremely well retesting prior support/resistance points (0.886/1.13) as a strong counter-trend reaction. Represents a temporary extreme structure that seeks to capitalize on the extended nature of the Extreme Harmonic Impulse Wave. Demands immediate change in price action character immediately following pattern completion. Extreme Harmonic Impulse Wave utilized depends upon location of 88.6% level – these are minimum requirements. Requires an active management strategy to capture high probability profit segments. 🔹 Gartley The important features of the Gartley are the specific location of the various points: X,A,B,C and D. The X-A leg is the largest price move in the pattern. It is followed by a counter move of A to B. The first leg, A to B, sets up the potential AB=CD, which is crucial to the completion of the pattern and to the indication of the reversal zone. After a brief and smaller B to C retracement, the C to D leg is established. A precise calculation of the AB=CD will provide a significant potential reversal point. Ideal Gartley The ideal Gartley set-up will be defined by specific Fibonacci retracements. One of the most important numbers in the pattern is the completion of point D at the 0.786 of XA. Although the price action might exceed this number slightly, it should not exceed point X. The pattern is a nice set-up, especially with the convergence of an AB=CD. 🔹 Bat The Bat pattern is probably the most accurate pattern in the entire Harmonic Trading arsenal. The pattern possesses many distinct elements that define an excellent Potential Reversal Zone. The pattern typically represents a deep retest of support or resistance that can frequently be quite sharp. Quick reversals from Bat pattern PRZs are quite common. In fact, valid reversals from Bat patterns frequently possess price action that is quite extreme. The pattern incorporates the powerful 0.886XA retracement, as the defining element in the Potential Reversal Zone. The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The most ideal B point alignment is the 50% retracement of the XA leg. The B point is one of the primary ways to differentiate a Bat from a Gartley pattern. If a pattern is forming and the B point aligns at a 0.50 of the XA leg, it is likely to be a Bat. 🔹 Three Drive The three drives pattern consists of a series of higher highs or higher lows. It is similar to the ABCD pattern. The difference is that a Three drives pattern is made of 5 legs, while an ABCD pattern has only 4. Three-Drives is a reversal pattern, so it signals an upcoming change in a trend. Point A is at the 61.8% retracement of the drive 1. Point B is at the 61.8% retracement of the drive 2. Drive 2 is at the 127.2%-161.8% extension of A. Drive 3 is at the 127.2%-161.8% extension of B. You can enter the market when you are sure that the market has formed the point B (buy in a bearish Three-Drive and sell in a bullish Three Drive). Take Profit should be around the 127.2%-161.8% extension of B. 🔹 Cypher The Cypher pattern, which can be either bullish or bearish, has five points (X, A, B, C, and D) and four legs (XA, AB, BC, and CD). Like any other harmonic pattern, the theory behind the Cypher chart pattern is that there is a strong correlation between Fibonacci ratios and price movements. Eventually, the market is expected to reverse from point D after the four market swing wave movements – X to A, A to B, B to C, and C to D. B point retracement of the primary XA leg ranges between 38.2% to 61.8% Fibonacci levels. C point is an extension leg with a Fibonacci ratio that should be between 127.2% to 141.4% of the primary XA leg. D point should break the 78.6 retracement level of XC. 🔹 AB=CD In this pattern, the A to B leg is the first price move. After a brief retracement from point B to point C, the pattern will complete the C to D leg, which is the same length as AB. Simply, after the AB and BC legs have been established, you project the AB length from point C… Although the price action will not always be exactly equivalent, the AB=CD legs usually will be close enough to determine the reversal points. Sometimes, this pattern will be exact but I usually wait for the CD leg to at least equal the AB leg. The Fibonacci numbers in the pattern must occur at specific points. In an ideal AB=CD Pattern, the C point must retrace to either a 38.2% at a minimum to validate the structure. The maximum retracement of the AB leg is an 88.6% level that defines a less extreme AB=CD pattern formation but still valid. 🔹 Crab The Crab is a distinct 5-point extension structure that utilizes a 1.618 projection of the XA leg exclusively. This is the most critical aspect of the pattern and the defining level in the Potential Reversal Zone (PRZ). The extreme (2.618, 3.14, 3.618) projection of the BC compliments the 1.618 XA extension. In addition, the Crab primarily utilizes an alternate AB=CD to compliment the PRZ. Although a minimum AB=CD completion is necessary for a valid structure, the alternate 1.27 or 1.618 calculation are the most frequent cases. The 1.618 AB=CD pattern is the most common alternate calculation utilized in the structure. It is important to note that the alternate AB=CD pattern within the Crab is the least important number in the PRZ. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
6