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Abcpattern

EURUSD - Short opportunityHello, EURUSD's right side of the market is down. At this moment, it is inside a corrective cycle from Sep-22. This correction has an abc structure, and we expect it to reach the green zone before turning down and continuing the USD strength cycle. Therefore we can sell EURUSD once the price reaches the IZ (green area) having as a target, at least, the 0.9555 level. Always keep in mind that risk management is, at least, as important as the entry-level or the SL. Remember the quote “If you do not manage the risk, you will not have any risk to manage” The market is always repeating the same type of defined structures. There are only two main wave types: the motive wave and when the motive wave ends it starts a corrective wave. Within them, there are only 3 motive waves structures (Impulse, leading diagonal , and ending diagonal ) and 5 main types of corrective structures (ABC, WXY, Flats, triangle, WXYXZ (triple correction)) Learning them and being able to spot them in the price action graphs will completely change the way you trade as these structures will provide entry point areas, invalidation levels, and targets for the trade. Have a safe and profitable trading day Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it is only the explanation of what we are going to do and it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Short
by TradingtheRightSide
WHA | Wave Projection | ABCDE Rising Triangle TargetPrice action and chart pattern trading setup: > The key level to watch for the price now almost reaches the upcoming channel resistance and minor ABC pattern T1 zone. > Take partial profit recommendation, most likely to retest the triangle neckline or breakdown making E wave dump and pump pattern. > Entry @ neckline pullback zone 0.382 and S2 @ 0.618 SMA200D zone > Target @ T2 Major ABC Target and Inverse Head & Shoulders +25% > Stoploss @ SMA200D zone -8% > Risk reward ratio: 3:1 Always trade with affordable risk and respect your stoploss
SET:WHALong
by dukeposh
Euphoric Bounce in DOWYou know, I usually don't follow the DOW as much. I mean, I'll glance at it every day but I think the surge we've seen can't go unnoticed. The question is: Is this surge over? I mean, this thing blew right through the 50, through a resistance level and now it's looking like it wants to go touch the 200 day! Hey, if it does....it does. Two possible outcomes here that I think could happen. Bears will step back in but the Bull's will absorb it and either base or head higher. If the Bull's can't absorbs the Bear's stepping in, we can erase this euphoric move in days. Or, a move similar to what we saw from about the middles of August to the end of September. In the coming days we should know better. I believe the markets understand that sentiment is Bearish and if this rally we've had is in fact the C wave of this ABC correction, then we should start to expect downside movement. Worse case, we could see some gaps down to 3700ish then 3500ish. These tech earnings are not painting a nice picture. I'm sure everyone has been watching META's plunge overnight. But again, the markets are going to do what they do. I'm still Bearish and plenty to worry about. Always remember to trade the markets in front of you, be patience, stay disciplined. Happy Trading Everyone!
TVC:DJIShort
by MMOTA_
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