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Abcpattern

DOGEUSDT | Wave Projection | ABC Pattern TP +60%Wave projection combined with price action and chart pattern trading signal > After a sideway breakout of mega falling wedge - the price pattern breakout of MA200 and made 2 false breakdown with a doubled bottom formation. > A potential ABC uptrend pattern now retesting MA200 confluent zone support at key volume profile POC and golden cross MA20x50. > If breakout successfully - TP1 @ 0.618 retracement +60% , TP2 @ 1.0 of Wave A +100%+ > Pullback Entry S1: MA200 - 0.80, S2: 0.74, S3: 0.68
Long
by dukeposh
NZDUSD ABC BULLISH PATTERNOne of the best ways to confirm symmetry in the markets is to check price and time using two or more cluster confirmations. Another key method to compute these patterns is to use percentage change of price between market highs and market lows. Symmetry is a science by itself, and traders take great advantage of knowing the potential turning points and levels using these methods. Symmetry is visible in all markets and in all time-frames. Symmetric rallies and declines give traders an advantage to determine the key turning points. A cluster of similar extensions and similar retracements at key price ranges, or some important levels provide insights into future significant resistance and support levels. In addition to knowing key turning points, the benefits of trading symmetric price and time cluster levels include low-risk trades. 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 ABC and AB=CD patterns are first described by H.M. Gartley in his book 'Profits in the Stock Market." (1935). The main advantages of trading harmonic patterns are that they allow traders to determine risk vs. reward ratios beforehand as they forecast key market turning points and profit targets for traders. The ABC pattern (can be a continuous or reversal pattern) The key point in identifying an ABC and AB=CD patterns is to correctly detect the A, B, and C key inflection (Pivot) points in a chart while they are forming. These inflection points are determined from key swing highs and lows of various levels, and for its correction waves to determine distinct "swings." The potential C point is usually forecasted by the fib. retracements (0.38 to 0.618) of AB Swing. Once A, B, and C points (and AB, BC legs) are identified, a projection algorithm is applied to compute the Potential Completion Zone (PCZ). This PCZ area is where ABC pattern is expected to complete and may signal continuation of its trend in the first trend direction (AB). Following the completion of BC leg, the projections of AB and BC legs (using fib. ratios) The swing legs (AB and BC) in ABC pattern are generally in symmetrical proportions both in price and time with consistent slopes. The tractable CD leg has a harmonic relation with symmetry for AB and BC swings. The ABC bullish structures are formed after a prolong prior down trend or consolidation trends. A Pattern Completion Zone (PCZ) is computed using AB swing and Fibonacci ratios (50-88.6% of AB). This PCZ area is where 'C' pivot is formed at the end of BC swing and to signal completion of ABC pattern. Trade Entry: After ABC pattern is completed, it is advisable to wait for the pattern to confirm a reversal signal using any momentum-based indicator or price confirmation mechanisms. I use various confirmation and trade entry methods, but one of the methods is price crossing 2-bar high after 'C' in ABC Bullish pattern or a 2-bar low after 'C' in ABC bearish pattern. Stop: A Stop is placed few ticks below C (in Bullish) or few ticks above C (in Bearish) levels. Targets: The ABC Pattern targets are computed using the AB and BC swings. The height pattern (AB) is used to project target levels from (-level using fib. ratios. The first target zone is (62-79% AB) from 'C' and second target zone is (127-162% AB). A secondary target level is set at 100% AB Level . TRADE CHARTS PATTERNS LIKE THE PROS 5 GOLDEN RULES 1: The Trade Setup The setup is the basic conditions that need to be present in order to even consider a trade. For example, if you're a charts patterns trader, then a pattern needs to be present. Your trading plan should define what a tradable chart pattern is (for your strategy). This will help you avoid trading when a chart pattern isn't there. Think of the "setup" as your reason for trading. 2: The Trade Trigger If your reason for trading is present, you still need a precise event that tells you now is the time to trade There are various methos using a trigger. A Price action B Moving averages C Fibonacci D 2 bar low/high 3: The Stop Loss Having the right conditions for entry and knowing your trade trigger isn't enough to produce a good trade. The risk on that trade must also be managed with a stop-loss order. There are multiple ways to place a stop loss. For long trades, a stop loss is often placed just slightly below a recent swing low and for a short trade just slightly above a recent swing high. Step 4: The Price Target You now know that conditions are favourable for a trade, as well as where the entry point and stop loss will go. Next, consider the profit potential. A profit target is based on something measurable and not just randomly chosen. Chart patterns, for example, provide targets based on the size of the pattern. Trend channels show where the price has had a tendency to reverse; if buying near the bottom of the channel, set a price target near the top of the channel. 5: The Reward-to-Risk Strive to take trades only where the profit potential is greater than 1.5 times the risk. For example, losing $100 if the price reaches your stop loss means you should be making $150 or more if the target price is reached. Other Considerations The five-step test acts as a filter so that you're only taking trades that align with your strategy, ensuring that these trades provide good profit potential relative to the risk. Add in other steps to suit your trading style. For example, day traders may wish to avoid taking positions right before major economic numbers or a company's earnings are released. In this case, to take a trade, check the economic calendar and make sure no such events are scheduled for while you're likely to be in the trade. The Bottom Line Make sure conditions are suitable for trading a particular strategy. Set a trigger that tells you now is the time to act. Set a stop loss and target, and then determine if the reward outweighs the risk. If it does, take the trade; if it doesn't, look for a better opportunity. Consider other factors that may affect your trading, and implement additional steps if require.
Long
by TradeChartPatternsLikeThePros
1
BTC Elliott Wave count 4H TFAt this moment I have an ABC scenario that may also be an impulse with wave 3 instead of C. Wave A or 1 finished at 2.618 fib extension wave 1 (of wave A or 1) vs wave 2 (of wave B or 2), wave B or 2 that may be an extended flat pattern finished at 0.5 fib retracement of wave A or 1. Now probably we have finished also wave 1 from wave C or 3 ( a leading diagonal that may continue up to 0.618 (29550) fib extension 3 vs 4 (blue count). I am expecting the wave 2 from wave C or 3 to fall at 0.382 - 0.5 fib retracement zone (if wave 5 (blue count) from this leading diagonal is finished now and will be truncated). If will lose 24000 I will do not have so much confident in this count. I will post updates to this count anytime I see a change into it. Good luck and have a great weekend! Press like button and follow if you want to see more updates. Thank you!
COINBASE:BTCUSD
by Cross10XSignals
XAGUSD Short for W1 SwingGod day traders, In this analysis we see XAGUSD/ Silver breaking below a local support after a strong bearish momentum that started on 23 January. We have CPI today, I believe it will make the XAGUSD close well under our support. The current market movement has given us a bullish ABCD pattern. I will not sell Silver to point D to complete the ABCD pattern that rests on a support. Please not that this analysis was done on the weekly timeframe therefore it could take some time before we reach our intended target. Disclaimer NASDAQ Guru offers general trading signals that does not take into consideration your own trading experiences, personal objectives and goals, financial means, or risk tolerance.
OANDA:XAGUSDShort
by Mezzoforte_Privilege
2