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Abcpattern

EURUSD – Follow-Up UpdateEURUSD traded above the 1.1573 level on Thursday, marking a second break to the upside following the earlier trend-changing pattern — a potential sign of bullish continuation. However, on the 1H/M15 chart, we've observed a minor ABC corrective decline (pullback). We’re now watching for a break below 1.1511, which could signal the start of a short-term bearish move. 🎯 Short-Term Target: The next key level is 1.1214, a weekly structural support zone and the low of the previous trend-changing pattern. 📌 Key Zones to Watch: Bearish confirmation: Break below 1.1511 Medium-term target: 1.1214 Stay alert to price action around these levels. Trade safe, and have a blessed weekend.
Short
by Charts247TradingAcademy
SUI — Breakout or Breakdown? Long & Short SetupsSUI has been trapped in a trading range for the past 6 days, consolidating between key levels and building up liquidity for the next big move. When price goes quiet like this after an impulsive structure, it’s not time to trade—it’s time to observe, analyse, and prepare. So, where’s the next high-probability setup? Let’s break it down: 🔹 Elliott Wave Context From my previous SUI analysis, I identified a completed 5-wave impulse structure. After such a move, a corrective ABC pattern is typically next. SUI has been respecting technical levels with surprising accuracy throughout this cycle—especially Fibonacci levels and key horizontal zones. 📉 ABC Correction in Progress? Wave A appears to be completed, and Wave B was rejected at the yearly level in perfect confluence with the golden pocket (0.618–0.666) retracement of Wave A. This strongly suggests that Wave C is now unfolding. Using the 1:1 trend-based Fib extension, the projected Wave C target lands at: ➡️ $3.6413 Let’s dig deeper—does this level hold up under further scrutiny? 🔍 Multi-Layered Confluence at $3.56–$3.64 Here’s what aligns at this potential support zone: 1:1 Fib extension (Wave A = Wave C) → $3.6413 0.55 Fib retracement (from $3.1132 to $4.2967) → ~$3.64 Volume Profile POC from prior range → ~$3.59 0.618 Fib retracement → $3.5653 Weekly level → $3.5594 21-Day EMA → $3.5537 21-Day SMA → $3.6319 0.75 Fib Speed Fan (if hit on May 16) → aligns with zone This stack of levels gives us a tightly packed, high-conviction support area between: 📍 $3.56 – $3.646 ___________________________________ 🟢 Long Setup Idea: Entry Zone: Ladder entries between $3.56 and $3.75 Stop-Loss: $3.4546 (beneath confluence zone) Take-Profit Target: $4.588 (0.786 Fib retracement + -0.236 Fib extension) R:R: ~5:1 🚫 Invalidation: If SUI reclaims the yearly level at $4.1152 before revisiting this support, the setup is invalidated. 🔴 Short Setup Idea: If SUI pushes into the 0.786 Fib retracement at $4.588 and shows clear rejection (e.g., SFP, bearish engulfing, high-volume reversal), a short can be considered. Entry: On rejection at $4.588 Stop-Loss: ~$4.714 Targets: TP1: $4.325 (recent highs) TP2: $4.1152 (yearly level) 🧠 Final Thoughts: This is where trading becomes a game of patience. I’ve mapped both long and short setups based on structure, confluence, and price behaviour. Now it’s about waiting for price to come to your levels. ⏰ Alarms set. 📈 Let the chart do the work. More updates to come as the range resolves. Stay sharp! ___________________________________ If you found this helpful, leave a like and comment below! Got requests for the next technical analysis? Let me know.
COINBASE:SUIUSDLong
by SiDec
12
BTC Back to $100K — The Final Dip Before All-Time Highs?Bitcoin has been trading slowly and steadily just below its all-time high at $109588. The key question now is: 💭 Is BTC ready to break through and print a new all-time high? Or does it need one more dip before liftoff? Let’s break it down. Elliott Wave Structure & Market Context BTC recently completed a clean 5-wave impulsive structure, with Wave 5 topping out into a major resistance zone. That confluence included: Value Area High (VAH) Weekly resistance Daily multi-level clusters Final resistance zone before price discovery After multiple rejections from this zone, BTC lacked the momentum for a breakout — so a retracement was expected. And that’s what we’re now seeing: a textbook ABC correction. 📉 ABC Correction Breakdown ✅ Wave A: Dropped sharply, nearly tapping the psychological $100K level ✅ Wave B: Retraced into the prior resistance band between $106133 and $104464 — rejected perfectly off the 0.786 Fib of Wave A 🔄 Wave C: Now unfolding To project the potential bottom of Wave C, we use the trend-based Fib extension (Wave A = Wave C). The 1:1 extension lands at: 🎯 $99875 — Right at the $100K psychological magnet Add this confluence: 🟢 Key swing high at $99475 ✅ 0.5 Fib retracement of the entire 5-wave rally 🔍 Psychological Level: $100K 🔑 Liquidity and demand zone This makes the $99K–$101K area a strong, high-conviction support zone. 🟢 Long Trade Setup Entry zone: Ladder between $101K – $99K Stop-loss: Below GETTEX:97K Target: New all-time high at $109588 R:R: ~3:1+ Structure: Correction into high-confluence zone + psychological level = high probability setup 📌 Summary: BTC likely finishing Wave C of ABC correction $100K = confluence of Fib, structure, psychology, and liquidity Setup is simple: Wait for price to retest this zone and trigger your plan If this level holds, BTC may be ready to attempt a breakout into price discovery Let the chart come to you — and trade the reaction, not the anticipation. 📉🔁📈 ____________________________________ If you found this helpful, leave a like and comment below! Got requests for the next technical analysis? Let me know.
Long
by SiDec
16
MSTR | Back to 120s / Double Digits | FractalPrice action blew off to a high around $540 and since then closed back under the historical close. The goal here is to see price action consolidate under resistance in the preparation for a major sell-off To invalidate all of this I would like to see more of an accumulation pattern back above major resistance, but if we see an increase in aggressive selling then price will be hunting for at least $120. Price action also looked a bit familiar to the 2021 sell-off with the same blow-off-top and a ABC pattern breakdown After the C sell-off price retraced back to B and then finally flushed out back to major support Current price action has pretty much done the first phase and we should expect some consolidation before the next big move.
NASDAQ:MSTRShort
by Nathanl19
DEEP - Finding The Next Trade SetupDEEP recently took out the January 13, 2025 low at $0.12345 with a Swing Failure Pattern (SFP), followed by a successful retest. This led to a bounce that hit a key level at $0.12141, presenting a solid long opportunity with minimal risk. After this, the market turned bullish, forming a 5-wave structure and rallying to the 0.786 Fibonacci retracement level at $0.18643 (measured from the $0.20473 high to the $0.11922 low). This was a key take-profit zone for longs and a great short opportunity. Adding confluence, the anchored VWAP also acted as resistance just above at $0.19, offering another low-risk short setup. Additionally, a key resistance level at $0.1809 further reinforced the rejection zone. Current Price Action & Short Setup From the 0.786 Fib retracement, DEEP retraced 20% downward, nearly touching the 0.618 retracement of the 5-wave structure before bouncing. Now, price is finding resistance at the golden pocket (0.618 at $0.17347 and 0.666 at $0.17534) of the recent drop, aligning perfectly with the daily 21 EMA ($0.1757) and daily SMA ($0.17347). This setup suggests an ABC corrective move is forming. Using the trend-based Fibonacci extension, the 0.786 extension aligns with the 0.618 retracement at $0.1457, creating a strong short setup. Short Entry: Between $0.17347 - $0.17534 Target: $0.1457 (0.786 trend-based Fib extension / 0.618 retracement) Stop Loss: $0.1845 Risk/Reward: 2.5:1 There’s also potential to extend the target to the 1:1 trend-based Fib extension at $0.13733, but this would depend on price action. Potential Long Setup If price reaches the $0.1457 support zone, this could present a high-probability long opportunity. Entry: Around $0.1457 Risk/Reward: 2:1 or better, but confirmation is needed before executing the trade
Short
by SiDec
4
BTC to new high...It seems that BTC to be at the beginning of wave c:B. price is supported in green zone that it includes fibonacci 1.618 of wave W and fibonacci 0.5 of wave a:B and fibonacci 1.272 wave X. I expect that price to rise to red zone that it includes fibonacci 1.38 and fibonacci 1.23 of wave A and fibonacci 1 of wave a:B. after that price completes the extended flat pattern in red zone, I expect the price to decline below the end of wave A and probably below 80,000.
Long
by Mr_elliottt