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Abcpattern

Deep Bull-Trap Correction Underway?This chart idea updates the previous idea with new Elliott Wave counts to include the recent run from the $8.5k local high (which turned out to be the end of wave 3 instead of wave 5) to the $9.1k high. This would then put the $9.1k high as a truncated 5th wave. It is still possible that we could move higher to complete a 5th wave with a target in the high $9k’s, but that is looking less likely with the strength of the recent downward movement that has broken outside the lower bounds of the ascending wedge in green. One thing to note is that every major high and subsequent deep correction that has occurred since the 2017 high has exhibited 1) a high, 2) a rapid drop or dragonfly candle that quickly gets bought up, and 3) a subsequent lower high. Only on one occasion was the subsequent high slightly higher than the first high. These highs + lower highs, split by rapid drops or dragonfly candles are circled in blue. This also supports the idea that a broader wave 1 correction is well under way, as this pattern also appears at the recent $9.1k high. Also note that the 200 day and 365 day exponential moving averages are converging to the top of the target area, which also corresponds to a strong support area in the $5.8k region during the last bear cycle. So these serves as further evidence of a possible support zone. Here are a couple of scenarios for what may come next. The first is that the A leg of a broad ABC correction has completed, and we are now beginning the bull-trap B leg which could take us to the $8400/500 area. This would also result in a possible H&S pattern if it is confirmed. We would then begin the C leg down to the target area in the low to mid $5k’s. This target corresponds to the fib. 0.618 retracement which is very common for wave 1 corrections. Also, this fib. 0.618 region is close to the trendline that approximates a series of higher lows before the parabolic move up, which also serves as a good support zone. The second scenario is that we are still in the A leg of a broad ABC correction, and that we have another sub-leg down to the $7k area before beginning the B leg upwards, and subsequent C leg downwards. Incidentally, this is only the 5th time in $BTC history in which @coinmetrics Pro's NVTS metric has hit 100. The previous 4 instances were followed by 82%, 70%, 78%, and 83% corrections, respectively. So a correction beyond 61.8% is a very real possibility. twitter.com Final Target: $5k - $5.8k
BITFINEX:BTCUSDShort
by dalmazio
7
EURUSD Elliott Wave Analysis 09 JUN 19EurUsd trading under complex corrective pattern for last couple quaters. As per medium term structure also giving high probability to current complex pattern continue for few months. In short term prospective, last week we got some strong momentum upside. This momentum will continue upto 1.1450 level, before that once again price fell to 1.1215 to 1.1200 support zone. As per my point of views during the FED meeting on this month we can expect this level to enter Long. My Entry Levels for coming weeks: Side : Long Buy @ 1.1215 -- StopLoss @ 1.1125 -- Take Profit @ 1.1450
Long
by tidaltrader
NIFTY50 WAVE ANALYSIS 10 JUN 19Hello Traders, Over all around world Equity markets are Gained some percentage in 2019, Nifty also gained nearly 15% from low of this year. But we looking in the medium term pattern Nifty in ABC corrective pattern. This ABC corrective pattern reaches its saturation point as per my point of view. I am looking for 12230 to 12250 level act as strong resistance and this to again 10000 level on second half of this year. My Entery Point On Coming Months: SIDE : SHORT Sell @ 12230 -- SL @ 13000 -- TP1 @ 10800 -- TP 2 @ 10000
NSE:NIFTYShort
by tidaltrader
US 30 Near Pivot? Or Lower? Calls or Puts?!? Or Cash!?!See TLs in chart. Might be setting up for a bear rally like the two spikes we saw in Nov & Dec; or might still head lower to the long-term TL beneath. Appears like the A-B-C pattern may be nearing completion; unless it's another fakeout and we enter a real Wave 3 downtrend... so chancy now. Expected a bit lower but no massive selloff yet; market holding its breath, a tweet could spark rally from here, or break it. Lately more tough tweets than sweets... Fed probably won't ease or tighten atm, IMO. Trade war will likely continue through the 2020 election cycle- both sides want to look tough, no faceloss. If it cascades to give a double bottom there will likely be a significant rally from area of Dec lows. Really uncertain now; can do either; might do both! Sidelined in cash atm guardedly brooding; whither hence?!? See if we get consolidation over this week at these prices... wait and see safest bet atm IMO. Just an idea... not any kind of investing advice; trade at your own risk- GLTA!
DJ:DJI
by DaddySawbucks
1
Will Past Resistance Become Future Support?This idea is based on some historical analysis of previous top patterns in addition to some Elliott Wave analysis. One of the things to note is that every major high and subsequent deep correction that has occurred since the 2017 high has exhibited 1) a high, 2) a rapid drop or dragonfly candle that quickly gets bought up, and 3) a subsequent lower high. Only on one occasion was the subsequent high slightly higher than the first high. These highs + lower highs, split by rapid drops or dragonfly candles are circled in blue. So it appears, historically speaking, that these types of patterns are good predictors of top formations and subsequent deep corrections. Further, the Elliott Wave analysis shows a structure that is already quite extended in the 5th wave, also suggesting a correction is due. And assuming the bear market is over, and the low is in, this entire EW structure could represent a broader wave 1 which usually correct quite deeply, to fib. 0.618 or more. One of the reasons that I think we may correct deeper than fib. 0.618 is that there have been no tests of the area between previous strong resistance (the top of subwave 1 of the Elliott Wave structure around $4.4k) and the $8.4k region high. And one of the rules of TA in healthy markets is that previous resistance becomes subsequent support. That hasn’t happened yet. The $4.4k region was an area of strong resistance which we have yet to test and transform into a strong support, upon which to base a subsequent healthy bull trend. There are also a couple of trend lines. The lower one in thicker green is the trend line for the $3.2k low and the subsequent $3.4k higher low. The second trend line in lighter green uses just the $3.4k low and the last low before the start of the parabolic price movement in the $4k region. The target price area lies between these two trend lines. The ABC correction depicted has two targets. The first is the end of the A leg in the mid $5k’s. This is likely to get bought up quickly resulting in a bull trap B leg which is common of ABC corrections retracing to fib. 0.5 or 0.618 of the A leg. Followed by the C leg of the ABC correction down to the mid $4k’s or lower. Final Target: $4k-$5k
BITFINEX:BTCUSDShort
by dalmazio
1
Ethereum - Think Fast.Don't Think Twice..BITFINEX:ETHUSD Weekly Analysis - B'coz Timing is Everything. Potential Bearish Shark Pattern 0.886/1.13 Potential Bearish ABCD 1.27/1.618 Potential Bullish Shark Pattern AC 1.13-1.618 XD 0.886/1.13 Expanded Flat Corrective Wave (ABC) Support and Resistance Levels Moving Averages Fibonacci Retracement Levels This is an adjustment from the previous Monthly analysis. The Money Journey - Hope for the best and prepare for the worst. Press the Like's button (Min +10) to get an update analysis on the spot and let's Reach Your Dreams by Following My Journey's.
BITFINEX:ETHUSDLong
by EchoLAB
Apple down to 165$ in ABC move before a 12345 up long termIs Apple in for a big downward move? If the current wave is an ABC from 12345 up (End 2018 to start May 2019), then we are probably in B of ABC down. Crossing Red line around blue arrow would make this analysis doubtful and at 200 level it would be improbable. If it is correct we will see Apple at around 165 before meaningful bounce back. On an even larger scale this ABC should be followed by one more 12345 up for a wave 5 coming near the level of wave 3 or beyond. After this one will be a collapse of Apple in an ABC from the 12345 started in the early 90's. But by then -around 2040-2060- the water of the oceans will have reached our front door. (Which would explain the crash).
NASDAQ:AAPLShort
by Gethere2020
Ethereum - Just a Lil' BitBITFINEX:ETHUSD Monthly Analysis - Adjustment Potential Bullish Shark Pattern AC 1.13-1.618 XD 0.886 Potential Bearish Butterfly Advanced Pattern AC 0.382-1 XD 1.272 Potential Bullish Bat Pattern 0.886 Expanded Flat Corrective Wave (ABC) Support and Resistance Levels Moving Averages Fibonacci Retracement Levels This is an adjustment from the previous Monthly analysis. The Money Journey - Hope for the best and prepare for the worst. It's strongly recommended to avoid other traders who tend to make lots of charts with different or even in the same perspectives over and over. They have a low win rate and it's clearly seen only chasing popularity with their lack of experience and abilities. ]
BITFINEX:ETHUSDLong
by EchoLAB
Bitcoin - Snap Snap SnapBITFINEX:BTCUSD Monthly Analysis - Just Refresh Potential Bullish Shark Pattern 0.886 Potential Bullish Shark Pattern AC 1.13-1.618 XD 0.886 Expanded Flat Corrective Wave (ABC) Support and Resistance Levels Moving Averages Fibonacci Retracement Levels Hello.. there is no necessary update from previous weekly chart analysis and Hopefully it will stay this way untill next month :) The Money Journey - Hope for the best and prepare for the worst Press the Likes and Follow button even if you don't want to.. that's just what is called "Thank You for all your Support" :)
BITFINEX:BTCUSD
by EchoLAB
GBPJPY : SAE IV - ABC FeverFX:GBPJPY Monthly Analysis Bearish Shark Pattern Target 0.886 Corrective Wave (ABC) Potential Bullish Gartley Advanced Pattern AC 0.618-0.886 BD 1.272 Potential Bearish Gartley Advanced Pattern AC 0.618-0.886 BD 1.272 Potential Bullish Shark Pattern 0.886 (unconvincing a-c?) Potential Hidden Bearish BAT Pattern 0.886 (Weekly Timeframe) Support and Resistance Levels Moving Averages Fibonacci Retracement Levels Hedging Strategies activated Buy again targeted 2nd red zone This is an update from previous weekly chart analysis The Money Journey - Hope for the best and prepare for the worst Press the Likes and Follow button even if you don't want to.. that's just what is called "Thank You for all your Support" :)
Short
by EchoLAB
Ethereum - Snap Snap SnapBITFINEX:ETHUSD Monthly Analysis - Just Refresh Potential Bullish Shark Pattern 0.886 Potential Bearish Bat Advanced Formation Expanded Flat Corrective Wave (ABC) Support and Resistance Levels Moving Averages Fibonacci Retracement Levels Hello.. there is no necessary update from previous weekly chart analysis and Hopefully it will stay this way untill next month :) The Money Journey - Hope for the best and prepare for the worst Press the Likes and Follow button even if you don't want to.. that's just what is called "Thank You for all your Support" :)
BITFINEX:ETHUSD
by EchoLAB
8