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Abcpattern

On Holding Tries to Reclaim the 50-day SMASwiss sneaker company On Holding went public in mid-September for $24. It peaked near $56 in mid-November following a strong quarterly result and has now pulled back. The first pattern on today’s chart is the 50-day simple moving average (SMA). ONON broke under that line in on December 13 as the retail sector crashed. But it’s chopped sideways since and yesterday closed back above it. In the process it managed to reclaim its 8-day exponential moving average (EMA). Next, ONON’s recent turn occurred near the bottom of the Keltner Channel. Price has also held $34.50, the low of its first trading session. Third, stochastics are trying to climb back from oversold territory. Finally, the pullback from the November highs represents a potential ABC correction pattern. The fundamentals could also interest some investors after management cited “hyper-growth” and “significant pricing power” on its last quarterly call. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:ONON
by TradeStation
More Rough Ride Ahead?This retracement has look and feel of a B wave, choppy and hesitant. Got a H&S in the 15 minute chart on 11/11. Expect another leg lower soon IMO. Should push down to test support at the old ATH IMO. RSI went oversold, bounced, fades. Likely to get a big bounce (arrow) after the C leg, retest ATH in December. 19 Nov OpeX likely to be pretty choppy IMO. Sold off -300 pips and has bounced back a bit more than 200 of that in the AM lift. Now in descending stair-step pattern. Measured move would end around 15815, give or take a bit. Selling could come at anytime, so unpredictable. Wouldn't trade dailies on this as it might take a week to come off, could be tomorrow, who knows?! I see lower lows and lower highs in daily charts on SPX, DJI. NQ looks like a sawblade fgs. Opening position in ten QQQ 24 Nov 392Pp spread short the 15 Nov 382, net debit $4.12. DYODD, GLTA!
CME_MINI:NQ1!Short
by DaddySawbucks
6
Weekend target of 56k possible for an ABC correctionThere looks to be a high possibility that bitcoin is currently in an ABC correction coming down from the current ATH. As shown, A ended at ~59.5k with a 5 wave correction down and now we are an ABC correction (shown in green) for a larger B correction up. I think from here bitcoin will fall back to the 61k region with a bounce to 64k to complete the B wave. Note: A break of 59.5k would invalidate this and we would have to say Wave C down has begun with Wave B ending at 63.7k and have to find new potential targets and Wave counts. Then after, 5 waves down to complete the C wave which shown by an estimation of a 1 to 1 retrace puts it near 56.5k. As to the timing I use parabolic curves (I have found to be good at finding reversals) for the B wave ending on the 4H chart: For the ending C wave: This also suggests that it may drop to around 56k as there is a strong potential for support here as shown by the green horizontal line drawn in. I would say most likely a bounce will happen in this area as long as it follows this path. There currently is hidden bullish divergence on the 4H RSI which I believe to be playing out now and also a hidden bull is showing on the daily. I believe for the daily RSI though there is potential to be a stronger hidden bull that will occur following this ABC correction Yellow - Current Hidden Bullish Divergence Green - Potential Hidden Bullish Divergence at the end of Wave C To invalidate this being an ABC correction, or to say it already completed, it will need to break the current ATH, then I will need to reassess as to where the new target may be. As to what this means overall for bitcoin I will wait and see as to what happens next. If this is a B wave we're currently in I will like to see where it ends first. After that it would be more accurate to figure out where Wave C would end and then determine what count we are starting on the larger time frames (Weekly and up). I will post more ideas to this and more about the idea of still seeing a new ATH in the near future and what the potential target(s) may be. ***Disclaimer: I am not a financial professional/expert and all ideas from me are all speculation based off of my own research. Please do your own research as well as I am not responsible for others when it comes to their financial decisions.***
COINBASE:BTCUSD
by WITSIT
Accumulation Phase is continuous After every Bitcoin's rise, we saw how much Fantom could be potential of accumulation. New investors are coming to this market and Fantom has shown us its success in attracting new investors to its market. In the technical analysis part, I showed one strong PRZs according to Robert Miner's system combining a price action support. In my view, as a software engineer and also a crypto trader, FTM has too much potential because of its networking technology, It could compete with MATIC, LUNA, and even SOL. By now, FTM has #33 position in CoinMarketCap.
FLong
by Alireza_dev
1
GBPJPY. Short Possibility (Medium Risk/ High reward)hi dear traders. For today we can watch GBPJPY, as it is about to complete a correction, which seems to be an ABC. price has reached to a strong PRZ and also time factors has been satisfied. we can speculate that this correction is at its end and wait for a conformation to go short. If price manages to hit its Trigger (few ticks lower than 153.663), we can enter a short position with MEDIUM risk. It is medium since there are no reliable Low swing near PRZ to put our Trigger under it. So it is vital to manage your position size according to the risk of this trade. I'll answer to your questions. have a good day.
Short
by HunkIsHere
XLM forming ABC correction, setting up for big rise?ABC correction forming Fibs are lining up nicely Ichimoku Conversion line down crossed Base line, calling for a correction Expecting local Fib correction to around $0.26 - $0.28 After it could make a move up to a 0.702 retracement from the ATH in May. Retest of local ATH at $0.42 possible, could also shoot straight through to set new ATH. New ATH would be $1.01 to $1.16 according to a hyper-extended Fib from the entire market. Personally I will open trade after the daily closes inside Ichimoku cloud after the buy zone. I do not currently hold this coin.
by AKriek
Bitcoin's Path Ahead!As discussed on multiple occasions here on TradingView, Bitcoin is likely in an ABC correction. We called the bottom at ~$30 000, yet with the possibility of a final mini dump towards the $27 500 area. Regardless of what, Bitcoin has now initiated its B-wave. This B-wave serves one purpose and one purpose only: to trick the bulls that everything is fine from now on. One technical area of high interest is the diagonal resistance that coincides with the 0,5 fib. This is an area that I will pay extra attention to. With that said, whenever any underlying is trading within either a range, formation or consolidation, they tend to ignore regular indicator supports and resistances. Depending on how Bitcoin were to proceed from here we will assess the ~$46,500 resistance differently. As recently discusses Bitcoin is most likely developing a zig-zag ABC correction as the A-wave consisted of 5 sub-waves. This naturally concludes that the B-wave should consist of 3 sub-waves in turn. By this token, if Bitcoin were to get its B-wave of the B-wave correction at for example $42 000 then chances are dramatically increased that the $46 500 area will be the final level prior to initiating a steep C-wave to kill off any final bullish enthusiasm. If, on the other hand, Bitcoin were to go relatively straight towards this area and then get rejected, chances are that it will continue further up until it's done with the B-wave. Such case would pave the way for a flat, in which the aforementioned bottom at ~$27 500 would be the likely and absolute bottom in case of an expanded flat. Otherwise, a bottom between $30k-35k is more likely in case of a regular or running flat. Time will tell. For now it all comes down to HOW Bitcoin will move up towards the mid to late 40 000 range.
BITFINEX:BTCUSDLong
by LongLifeTrading