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AB=CD

GBPUSD, The Impending ShortWe’re coming up towards the end of the final push, push 3. Looking back at the H4 timeframe, there is a Shark Pattern near completion. The D point of this Shark Pattern aligns with the long term resistance as well as a psychological whole number 1.24. There are other methods that also support the theory that price may reach the 1.24. The ab=cd pattern suggests price can continue to rally on towards the 1.24. Mentioned previously today, there was a 15min Shark Pattern which later came back to do a type 2 reversal that gives a trader a second entry to ride towards the 1.24. We may see a completion of the price objective by Wednesday next, until then sit on your hands and wait for price to do it’s thing. Beaucoup Out.
by BeaucoupPips
Swing trade about to happen on CZcoin BNBUSDTBNBUSDT is about to finish the 5th wave of a contracting ending diagonal. 12% drawdown can be expected as illustrated on this 1D chart. Price action on intraday below volume POC. According to my wave count, BNBUSDT is likely to be enter in a 5-wave swing-downward correction to made a lower low amid 160 USDT price @ least extending down 1.618 from the ABCD reciprocal harmonic pattern displayed. In a Wickoff method perspective, the price tends to enter in a SOW phase, breaking-down this triangle structure, but a rally of relief can be expected as a potential growth of BTCUSDT for the next month open. Oscillators: *Fisher Transform; *ESCGO_LZ (smoothed stochastic); *Chaikin Money Flow. This strategy was published for an educational study of the cycles of BNBUSDT market. You can see more of my progression on this short position by my previous posts.
Short
by firmestudio