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Abcpattern

MO Altria Group possible A=C plus bear flag Let's discuss it.Hi , Well, first of all, it's important to note that I have an open position in this dividend-paying stock because I want to hold it for the long term. However, we should not ignore the fact that we will start wave C of a possible ABC correction soon. We can also see a bear flag shape. Both have a price target of ~$14 to $15. Regarding the fundamentals, some important things: Traditional tobacco companies have to face the fact that their products are becoming more and more expensive, thus many people buy cheaper products. Vapor and liquid alternatives are increasingly popular among the younger generation. Because they are fragrant, tasty and cheaper. Although these companies have made a lot of profit in the past decades, they are now facing another challenge. If they want to stay competitive, they have to develop to catch up with their competitors who produce products based on new technologies. Altria Group is constantly working to achieve this. However, the transformation of the production technology and the necessary permits (e.g. FDA) are essential for its success. It's all money and time. All in all, I think that stocks of traditional tobacco companies are still a good long-term investment. However, it should be taken into account that they may underperform in the coming months. And they can hit new lows. That's why I didn't use all my resources that I intended for this stock. Because if we actually reach the ~$15 zone, then I want to significantly increase my position size there. Please tell me what you think about it. And share your thoughts. Do not forget. This does not constitute investment advice. Do your own research before entering a position.
NYSE:MO
by XOX_XOX
6
Bears Beware of B WavesPrice stopped fall at the 0.618 retracement ~4321 SPX and held for an intraday double bottom ~4310. Holds above the previous Friday's finish after a mad V rally. Stonks remain in a downtrend but this countertrend move may be only halfway up the flagpole. C wave ought to carry index to the upper trendline of falling channel, another 100 pips above. Confirm Monday. Price action 10/13 was indeed spooky, from where came this mad gap up, but it vaporized in under an hour and the rest of session was spent testing the 20 DMA. If you short it here you may well be selling at the bottom, be ware! GLTA
TVC:SPXLong
by DaddySawbucks
TSLA SYMMETRY TRADING ABC BULLISH Greetings, traders! Today, we're spotlighting Tesla, Inc. (TSLA) and delving into a technical analysis anchored by the ABC Bullish Pattern. Technical Overview: - Chart Formation: TSLA's daily chart showcases an ABC Bullish Pattern, a pivotal structure in technical analysis. ABC Pattern Explained: 1. A to B Leg: This initial phase, in the context of our bullish pattern, signifies an upward trajectory. Conversely, in a bearish setting, it would indicate a decline. 2. B to C Leg: Post the A to B movement, the price often retraces but doesn't fully negate the initial surge. This phase, representing a partial pullback, is the B to C leg. 3. C to D Leg: After this retracement, the price typically resumes the direction set by the A to B leg. In bullish scenarios, it often exceeds the A point's peak, making this the opportune moment for traders to enter, forecasting the pattern's culmination. Noteworthy Characteristics: - Forecasting Ability: The ABC pattern's symmetry, especially between the A to B and C to D legs, can be instrumental in predicting subsequent price actions. - Retracements: The B to C leg frequently resonates with renowned Fibonacci retracement levels, including 38.2%, 50%, 61.8%, and 88.6%. These levels offer traders valuable insights into potential pivot points and reversal zones. - Extensions: The C to D leg might correspond with Fibonacci extension benchmarks, aiding traders in establishing profit milestones. The provided targets, such as "62% of AB" or "127% of AB," presumably allude to these extensions. Trade Parameters: - Entry Point (EL): 225.87 - Safety Net (ST): 210.58 Anticipated Targets: - Primary Target (Target 1): - 62% of AB: 302.72 - 79% of AB: 327.61 - Secondary Target (Target 2): - 127% of AB: 399.05 - 162% of AB: 450.38 It's paramount to remember that while the ABC pattern is a robust analytical tool, its efficacy is amplified when combined with other indicators, in-depth fundamental analysis, and a stringent risk management protocol. Always be attuned to the inherent risks of trading.
NASDAQ:TSLALong
by TradeChartPatternsLikeThePros
2
USDCAD: Short Term Technical AnalysisTechnically the FX:USDCAD pair seems to follow 12345 bullish impulse structure on intraday chart. Having said this, it is possible to follow 2 setups (bearish and bullish) on levels shown on the chart. On the short side, it is good to monitor and manage the position closely and move stop loss to breakeven as soon as possible. In this case the expected pullback could take the form of ABC or ABCDE Pattern. Levels may change, so follow our updates below or on our website. Trade with care Like | Share | Comment
by TheAnonymousBanker
4
GBPAUD ABC BULLISH PATTERN Hello Traders! Let's Have a Look at GBP/AUD Presenting a Great Trading Opportunity The GBP/AUD pair is showcasing a promising trading opportunity. On its hourly chart, it has formed a symmetric ABC bullish pattern, which is a strong indicator of a potential upward trend. Here are the trade details: The price is trading above the entry level (EL) at 1.95613. Stops are set at 1.94869 to limit potential losses. Profit Targets: Target 1: 62% at 1.96699 Target 2: 79% at 1.97176 Target 3: 100% at 1.97786 If you appreciate this trading idea, please support it with a like, and don't forget to follow for more insightful trading alerts. Your support fuels our motivation to bring you more profitable opportunities. Happy Trading!
Long
by TradeChartPatternsLikeThePros
1
EURCAD ABC BULLISH PATTERN Hello and welcome to an insightful journey into the world of trading chart patterns, where we'll explore how to analyze and leverage patterns like a professional trader. Whether you're new to trading or looking to refine your skills, understanding chart patterns can provide valuable insights into market trends and potential opportunities. The Power of Chart Patterns: Chart patterns are visual representations of market behavior, formed by the collective actions of traders. They offer a way to identify potential trends, reversals, and price targets. By recognizing these patterns, you can gain a competitive edge in the markets. Symmetry ABC Bullish Pattern on EURCAD: Today, we'll focus on a specific example: the Symmetry ABC Bullish Pattern observed on the EURCAD daily chart. This pattern consists of three distinct legs: A, B, and C. Leg A: The initial bullish move. Leg B: The corrective phase, often retracing part of the move from Leg A. Leg C: The continuation of the bullish trend, exceeding the high of Leg A. By identifying these legs, we can project potential price targets using Fibonacci extension levels. In our EURCAD example: 100% Target: At 1.50836 - representing a full extension of Leg A projected from the end of Leg B. 127% Target: At 1.52451 - a more ambitious target indicating strong momentum. 162% Target: At 1.54518 - the most aggressive target, suggesting significant bullish potential.
Long
by TradeChartPatternsLikeThePros
2
GBPCAD SYMMETRIC TRADING AND THE ART OF TIMING THE TRADEHello Traders, Today, we'll be examining GBPCAD, which has developed a symmetric ABC Bullish Pattern on its daily chart. **Pattern Analysis**: The price action on GBPCAD's daily chart has formed a symmetric ABC Bullish Pattern. This pattern suggests a potential bullish reversal in the market. **Entry and Stop-Loss Strategy**: - Entry Level (EL): Consider initiating long positions as the price surpasses the long entry level at 1.70038. - Stop-Loss (SL): Place your stop-loss just above point 'C' of the pattern to manage risk effectively. **Target Levels**: - Target 1: Aim for the 62% Fibonacci retracement level of the AB leg at 1.72522. - Target 2: Consider a secondary target at the 79% Fibonacci retracement level of the AB leg, positioned at 1.73535. - Target 3: For a more ambitious goal, target the 127% Fibonacci extension of the AB leg at 1.76627. - Target 4: An even higher target can be set at the 162% Fibonacci extension of the AB leg, located at 1.78832. Please note that these targets are derived from Fibonacci retracement and extension levels, which often act as important price levels in the market. Happy trading! 🚀💰
Long
by TradeChartPatternsLikeThePros
3
Nike - Bottom or ABC?Nike is close to an important level which will determine if a bottom formation is completed or a further slump will occur. Currently a DBW formation is build after almost perfect a Dopple Top Formation has been finished. Currently we are close to the 4 level, the current local low. The RSI is close to oversell, which support the turn around idea, which may result into a W formation whose execution would probably trigger the 5 and the DBW activation. On the bearish side a potential running ABC pattern can be found fitting perfect into the chart and the Fibonacci patterns.
NYSE:NKE
by NDD46
GOLD👑 (XAUUSD) KEY LEVEL TO WATCH 👀AND WHY 15 MAYTraders, in order to buy and sell, make decisions based on price history and use patterns to identify future price movements. Successful pattern trading requires the acknowledgement of identifying trends, consolidations, support resistance levels and reversal to place stops and targets to forecast price movements. Here i will discuss one of the key reversal patterns and present you examples of them: The basic ABC pattern has been a continually reliable trading signal. The ABC Chart pattern comes into many other patterns. If you look at the Elliott Wave, the beginning form of 0, 1, 2, (0A, 1B, 2C). The ABC is also named 1-2-3 waves. The ABC—exists in other patterns such as Gartley or the AB=CD, and can also be found in pennans, triangles, rectangles, head and shoulders, double tops, double bottoms. Anybody can learn how to recognise this ABC pattern and then trade it. They can actually use this knowledge to create a dozen more patterns because of its basic structure, which exists in a dozen or so patterns. Traders would be able to use the ABC Patterns knowledge in all market conditions across the board. That’s the critical part of trading success. When you identify the ABC pattern, you can embed it into other patterns surrounding it. Those are the patterns. For example, the pattern with the highest success rate that I’ve got in my research is the 121 pattern, which is like two ABC one after the other . The 121 can be a continuous or reversal pattern, and when it forms, the success rate is high. The ABC is one of the superior patterns to trade. ABC BULLISH PATTERN See example below: another example fiferent market Like I mentioned above, we can embed the ABC into other patterns surrounding it. For example: The ABC Chart pattern and its related AB=CD Chart Pattern are prime examples of "Symmetry" in the markets. These "Harmonic" patterns help traders to identify buying and selling opportunities in all markets and in all time-frames. The AB=CD Example below : OK, you may be getting overwhelmed by these patterns. Let's talk about DXY and why? One of the most popular indices to watch for gold investors is DXY. We all know or at last the majority of traders can use DXY in correlation with Gold, this means: if Gold price goes down, DXY price goes up. Let me put this into context... Yes, more patterns... DXY Double Bottom: Gold AB=CD Bearish We have identified our patterns and their correlation with other markets. Here, the analysis of gold could be beneficial in order to forecast the price movement. Let's take it further... what about relative to Gold? What other market could help us put everything in context here? HUI: again one of the most popular indexes to watch for gold investors, but different to DXY. HUI which consists of a basket of 15 gold mining stocks. The index is positively correlated to gold. This means if Gold goes down, HUI goes down. What do we have with HUI in terms of patterns? Well, since HUI relatively correlates in a similar manner, the price structures are very similar. HUI Chart Below: HUI chart we can identify a 121 pattern emerging, basically 2 abcs one after the other, with a price completion zone around 200. ​Let's take it further: Silver 121 emerging below This is my conclusion to look for beariness in gold next week from 15 may 23' Gold AB=CD Bearish, DXY Double Bottom HUI 121 Emerging Silver 121 Emerging
NYSE:HUIShort
by TradeChartPatternsLikeThePros
3
EURUSD SYMMETRY TRADING ABC BULLISH PATTERN Hello Traders! Welcome to Today's EURUSD Analysis. We've spotted an exciting trading opportunity on EURUSD that we'd love to share with you. On its hourly chart, EURUSD has carved out a Symmetrical ABC Bullish Pattern. This pattern is characterized by a swing from A to B, followed by a retracement to the 61.8% Fibonacci level. Currently, the price is trading above our strategically set Entry Level (EL) based on Fibonacci extensions from the previous swings. Here are the trade details: Long Entry Level (EL): 1.08501 Stop Loss (ST): Once the bullish trend is confirmed, consider setting the stop loss below point C at 1.08259. Targets: - Target 1: - 62% AB: 1.09397 - 79% AB: 1.09699 - Target 2: - 127% AB: 1.10564 - 162% AB: 1.11188 Your feedback is invaluable to us. If you find this analysis insightful, please hit the like button to support our idea. Don't forget to leave a comment below and follow us for more setups like this. Let's conquer the markets together!
Long
by TradeChartPatternsLikeThePros
1