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Harmonic Patterns

Bearish US30 Butterfly Pattern Understanding the Pullback of US30 Butterfly Pattern In the world of trading, understanding different chart patterns is crucial for making informed decisions. One such pattern is the butterfly pattern, which is currently evident in the US30 market. Traders have observed a pullback in the US30 butterfly pattern from level 1.276 to a lower level. This pullback indicates a potential shift in market momentum, prompting traders to re-evaluate their positions and consider new trading strategies. The possible target of the seller butterfly is at the level 1 Fibonacci, which serves as a key support and resistance level. Traders should closely monitor the price action around this level to gauge the strength of the selling/buying pressure and assess the potential for downward/upward trend.
CAPITALCOM:US30Short
by SEYED98
1
"US100 Bearish Bat Pattern Signals Potential Trend ReversalIn the US100 market, a Bearish Bat pattern has formed, signaling a potential trend reversal. This harmonic pattern typically suggests that an upward trend may be losing momentum, opening up the possibility of a downturn. The Bearish Bat consists of four legs labeled as X-A, A-B, B-C, and C-D, where each segment aligns with specific Fibonacci retracement and extension levels. When the D point completes near the 88.6% retracement of the X-A leg, it acts as a potential reversal zone (PRZ), indicating that sellers may enter the market, leading to a bearish shift in price. Traders often watch for confirmation at this PRZ to initiate short positions, setting stop losses just beyond point D.
UShort
by iphtikhar
2
this long has petered out, right?it may not be over. if we break through this 5 min high theres very little resistance to daily gap close, and if we fall through this open its almost a guarantee to short to the weekly lows. i would stop out either way if it halts or has undue volatility other than large predictable and steady swings. that being said im leaning long because of how it has set clear 5 mi higher lows this morning. i dont have to close this gap or even most of it, i can use any of these levels as take profit and continue to raise my stop all morning until volatility returns to the stock which it will eventually. if not today or tommorow the stock will return short by hitting daily upper trendline.
AMEX:EFSHLong
by cerealindicator
Gold projection for a serious correction!Precious metals have been on a serious run, but it's time for a cool off heading into winter. I called this massive run over 2 and a half years ago on silver (linked to the post). But, I do believe that we're close to the correction phase and the major one will coincide with the stock market which will infect the precious metals. Target is conservative as a retest of the CUP & HANDLE break out, but it's likely to go lower to catch the buyers off guard as we often see. Let me know what you think and how you're approaching the precious metals.
TVC:GOLDShort
by SkyTrees