Abcpattern
VIAC Long, Daily EMA144 as supportCondition:
#1 Daily EMA144 is support
#2 Swing(A) crossed SMA50 and EMA144 (Normally, this is a pattern of beginning in uptrend)
#3 Swing(C) Began from SMA50
#4 No price change on 8/6/2020 Earning
Estimate: Range of Swing(C) = Swing(A) (ABC pattern, even if it is a consolidation only)
Entry below 26.5
Stop 24; when Trendline break
Target1: 35; risk/reward=1:3
Target2: 40; risk/reward=1:6
I am not a Pro trader. I need few months to work on rule based trading strategies.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate consistently.
Double top. Expanded flat correction Double top, ADA due for a correction
TP 0.105
Daily and Weekly RSI overbought range
Swing trade
Heathly correction before shelley is implemented July 29th hard fork, then back to FOMO and hype trend
BINANCE:ADAUSDT
Scenario: C point jump @ Gold SpotThis is an ABC correction and C point jump @ Gold Spot. Target price is 1818 USD.
GBPJPY SHORT 1HR TIME FRAMEUsing the Elliot wave strategy, top down analysis, market structure, support and resistance and a few indicators, I can see that market is heading in a downward position for the coming week. Now we do not know what will happen over the weekend that could effect the markets direction. but for a framework and idea, we should look for a short in this time Frame.
USDCAD SWING TRADE SHORT Good Day All, FX:USDCAD
I am currently seeing some bullish momentum short term finishing off an inner smaller time frame flag within a longer term bearish trend. We had a pennant brake from the top which fell to a support trendline that held creating our current major flag, I am currently looking at an Elliot correction ABC wave finishing off which I am looking to get in short at yearly resistance point 1.38000. with stop loss at 1.38300. This will be my first entry for my major swing trade. I am then looking for a break of the flag structure and a retest creating my second entry point which I will update closer to the time. My first take profit will be at major support zone 1.34000 which I am looking for a possible break and retest to continue the downside with a third entry on that areas to be updated closer to the time. This will then lead to my flag pole length target for final TP zone at 1.32500 where I will re-evaluate all my swing trades to see where we are heading from there.
This will all be shared on my Telegram group for free and also when I enter and exit the markets.
Please take note Forex is risky and this is my opinion and biased on the markets and could be wrong please use proper risk management if followed and let me know if you trade any of my ideas.
Holy Grail/ adx gapper/ 80-20 all signals triggeredThis is a triple confirmation on strategies from Streetsmarts...
1. Holy Grail is watching ADX it should be correcting only from uptrend > 30
2. Gap below yesterday's low then reversal recovery in morning at 35.10
3. 80-20 is yesterdays range opened in upper third, and closed in lower third; today's gap down then recovery of yesterdays low, buy > 1st hour bar > 35.25...hold until close or next day
4. technically there's an ABC style correction in a strong uptrend which tips probability that could recover multi-days even if miss low a bit ( call options could be considered if GAPS down to obvious target for C leg...as a re-entry method)
5. 6 days ago was a low, that is also beat > 35.35 showing another reason shorts may 'cover' or take profit...
Short term for AUD/USDReversal time of C for A (ABC). As my idea, you can take tp at yellow line. Thanks for your interest.
GBPAUD LONGGBPAUD is currently in an interesting position after support has held at the lower section of a long term bullish channel (4 years). Fresh bullish volume can be seen increasing on the Daily and 4HR, coupled with the Daily MacD in the heavily oversold region. Additionally, The Daily ADX has began to pinch after separation apparent. In regards to a price action perspective, there has been a number of candlestick closes above the 4HR 50EMA , while price has also completed its 5th Elliot Wave on the Daily; suggesting we may be due to see an ABC correction.
Fundamentally, there is no high impacting economic releases for the GBP or AUD for the rest of the week, other than UK Manufacturing Production for April scheduled for release at 07:00 GMT+1 Friday. However, the US FOMC decision on Wednesday may cause capital flows to or from these two currency pairs, depending on what is said and if interest rates are maintained at 0.25% or not.
EURJPY Soon To See ABC Correcting WavesI believe EURJPY will soon see a series of 3 corrective waves ABC following previous waves 1-5. Looking to short at resistance level.
BCHBTC ABC correction 🦐BCHBTC creates ABC correction, and we are waiting for fifth legs in order to complete ABC (Elliot's Wave)
When the price will break the support and flip it in resistance, We can set a short order according to Plancton's Strategy
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Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Powerful Traders, everyday EWA's analysing & working processPING AN - detailing the "ABC" (5-3-5) wave structure.
Regards, Team Traders "PowerfulTraders" flat
Sands China Ltd (1928 - HKEX) WXY wave patternSands China Ltd (1928 - HKEX) looks in corrective WXY wave pattern. After completing X, it dropped in five wave A followed by its corrective B wave. Sell with stops above 33.30 with C (W - internal of Y wave down) as target.
M&T Bank (MTB - US) Sell C wave downM&T Bank (MTB - US) seems within B wave triangle. If brakes then only - sell for C down wave with stops above 110.90.
3I group (London) - Sell for C down3I group (London) is within triangle as B wave down & weaker stock compared to FTSE 100. Sell below 715 level only when breaking down the stock & keep stops above 755 for target below 530.
BAE Systems (London) - 120 min C downBAE Systems (London) seems started C down followed by A-5 down & started under-performing the FTSE100 index. Sell it near 525-40 with stops above 563 for downside target C wave below A wave low. To get trade wait may be for tomorrow to get the desired level shown in box. I feel it's already made a 1 of C down and now take a day or so to make 2 wave corrective, so watch it closely to take a trade.
After panic now it is time to go down fundamentally!The first down leg was caused by Absolute panic, but now it is time for the fundamental elements to play their roles!
More than 30 million Unemployment claims and -7.8% consumer confidence index means lower spending in coming months which will lead to lower sell and profits for companies!
Don’t forget that average bear markets lasts 16 months!
AUDUSD- potential long biasPrice impulsively moved down from the correction of wave 5, for the possibility of the ABC correction before continuing the up trend to the levels highlighted in the top blue box.However it should be noted that at the end of the ABC correction we could see a head and shoulders pattern play out so we need to monitor price level around 0.64464 for the potential breakdown break down of price.
Bottom of RSI channel + Fib confluence in NOKIAHi everyone. Trying my hand at stonks again.,
Nokia is showing a number of potential reversal signals.
For starters, Nokia gapped down and held the 0.886 Fibonacci retracement from the July 2012 correction rally. After that rally, Nokia had what I believe to be an ABC retracement downwards, with a target for "C" being $2.42. This correction sequence in my opinion is very reminiscent to a 3-3-5 Elliott Wave correction. 3 Waves up, 3 waves down, 5 waves up which would complete the bullish correction. If indeed we are looking at a 3-3-5 bullish correction sequence, we are either on the very last, or close to the very last wave downwards for this asset. Next would in theory be a powerful 5 wave impulse upwards to complete the 5 waves of the 3-3-5 correction.
My opinion for the measurement of the "C" wave of this final 3 ABC series is located at $2.42. The local low so far this past trading week is $2.34. We can see that there was a fairly sizable bullish candle after touching the 0.886 and 1.618 "C" wave retracement. In the RSI, notice how the bottom of the channel was respected. This has also now printed bullish divergence in the weekly chart from late 2019.
With Fibonacci, we now know that we have a potential "C" wave having completed at $2.42, as well as a bullish 0.886 retracement at roughly the same price range. Confluence!
On the 30m, we can clearly see the reactions that were present when these levels were hit:
The daily is showing 4 tests of the 0.886 and 1.618 retracements. The weekly RSI channel on the daily is showing that we briefly dipped below support, but were able to re-enter back above both oversold and the channel support. There is some bullish divergence from the 12th of March. This has been accompanied by heavily increasing overall volume. Currently, price is showing a spinning top doji after breaking above a triple top. The price increased from bottom to top by 20%.
The Chaikin Money Flow indicator is showing consistent higher lows since late Oct 2016. These higher lows are accompanied by lower highs, which is in turn forming a symmetrical triangel. There are 3 touches of support and 3 touches of resistance so far. To validate a symmetrical triangle, rule of thumb is 3 touches each on both support and resistance. This will cause a very powerful move, whichever way it breaks. There is also a potential bullish falling wedge forming from Q2 2018. On this time frame we are only 3 points away from entering the accumulation portion of this indicator.
Weekly MACD is looking somewhat neutral. There have been consistent lower lows and lower highs since mid 2017. There is a flag-like channel the MACD has been following, similar to the RSI.
Interestingly, a very peculiar situation in the MACD histogram, however. There is a very strong bullish divergence in this recent drop versus the one that took place in November.
Like the weekly CMF indicator, there is a potential bullish falling wedge forming as well.
By the way. I did an analysis on Gold back in April of last year. Coming up on 1 year from the day I made it, gold is so far doing (almost) exactly what I thought it would. If Gold falls back down for a re-test of $1,350, it could mean that stocks are very near a potential bottom.
Gold is also printing a descending triangle, and is currently facing rather strong resistance in the RSI.
Consider how much fear there is in the market right now.
Consider how hard and how quickly we dumped, 35%!!! IN WEEKS!
The strongest and fastest drop in literal history.
Also keep in mind- Wuhan and mainland china are now peaking in CV19 cases.
And last but not least- just how many shorts and puts do you think there are?
nokia's have a wide reputation for being INDESTRUCIBLE.
This asset is literally screaming bull flags everywhere. wtf America?
Crown Holdings (CCK-US) Sell for C downCrown Holdings (CCK-US) looks like completed B wave corrective followed by A-5 wave decline. Sell below break down level 59.25 for C down with stops above 60.55.
