Xabcdpattern
How To Use The XABXD Pattern ?The term "xabcd pattern" is commonly used in technical analysis, specifically in the field of harmonic trading. It refers to a specific price pattern that is believed to have predictive value in identifying potential market reversals.
The xabcd pattern is based on the Fibonacci retracement and extension levels, which are ratios derived from the Fibonacci sequence (a sequence of numbers in which each number is the sum of the two preceding ones). The pattern consists of four key points labeled as x, a, b, and c, forming specific ratios between these points.
Here's a breakdown of each point in the pattern:
1. Point X: This is the starting point of the pattern and represents the beginning of a significant price move.
2. Point A: This marks the end of the initial price move and is usually a retracement of the XA move. Point A is typically at the 0.618 or 0.786 Fibonacci retracement level of the XA move.
3. Point B: This represents a retracement of the AB move. Point B is typically at the 0.382 or 0.618 Fibonacci retracement level of the AB move.
4. Point C: This marks the completion of the pattern. Point C is usually at the 1.272 or 1.618 Fibonacci extension of the AB move.
The xabcd pattern suggests that once point C is reached, there is a higher probability of a market reversal in the opposite direction.
Traders who use harmonic patterns like the xabcd pattern look for these formations on price charts and use them to anticipate potential trend reversals. They may enter trades based on the completion of the pattern, placing stop-loss orders below or above the pattern's points to manage risk.
It's important to note that while harmonic patterns can be a part of a trader's toolkit, they are not foolproof and should be used in conjunction with other technical analysis tools and risk management strategies. It's recommended to study and practice extensively before relying solely on any specific pattern for trading decisions.
EURUSD: Bearish Reversal Idea, Seasonal AnalysisBearish Indications
• Resistance Zone at 1.06428
• Seasonal Analysis show EXY remains Bearish in January 60% of times.
• DXY is in a Bearish Trend on Weekly time-frame.
• Gartley’s XABCD the point D indicates a reversal in the Zone of 1.06428 to 1.06605
• Monthly Seasonal analysis shows DXY remain Bullish in January 60%.
• EXY remained Bullish in December 2022 which indicated to a point that seasonal are working so far.
• Weekly Seasonal Analysis show EURUSD remain Bearish in 3rd Week of January
• DXY is at a significant Support Zone 103.780 from where a bounce back is possible.
• Slight Divergence spotted on ChandeMO Oscillator on EXY .
Bullish Indications
• 4hrs time-frame Higher Highs and Higher Lows formation.
• 4hrs time-frame Three White Soldiers candle pattern.
• Significant Support Zone at 1.06322
• EXY is in a Bullish Trend on Weekly Time frame.
• Weekly Seasonal Analysis shows EURUSD remains Bullish in 2nd Week of January.
• On Weekly timeframe DXY price action show an inverted hammer candle which indicates sellers are in control.
• Traditionally EXY and DXY are negatively correlated.
Biased : Short
Trade PLAN (Short)
Entry: 1.06556 (Fib Lvl 78.6%)
TP: 1.05711 (Fib Lvl 38.2%)
Stop Loss: 1.06881 ( Support area / Higher High/ Fib Lvl 88.6%)
Risk/Reward: 1:2.39
N.B.
Manage your Risk Accordingly.
BTC/USDT - Possible bearish XABCD formation! BULLS ARE BACK!Considering the inverse effect of DXY its still not too late to short sell BTC.
Following my previous analysis of Double Top Reversal, BTC continues to drop further. Currently my analysis is based
on the inverse effect $ has on BTC. My biased is to take a safe short trade upto TP1 as marked.
FTM/USDT BUY CallFTMUSDT shows good momentum for bulls in order to complete the XABCD pattern. We are expecting the bulls may take control for some time. Price may move towards some good upside resistance areas. Looks like best time to take entry and full your bags.
Please follow and like for more idea. Feel free to contact for any technical analysis gig. Thank you
BTC ABSOLUTE BOTTOM REACHED! GET IN NOW (not financial advice)IF YOU LOOK AT THE CHARTS THE ABSOLUTE BOTTOM HAS ALREADY BEEN REACHED.(not financial advice) THE XABCD PATTERN IN COMBINATION WITH THE FIBO RETRACEMENT CLEARLY SHOWS A BULLISH SIGN.(not financial advice) BTC STRAIGHT TO 90K OR IT WILL RETRACE BACK TO THE ABSOLUTE BOTTOM AND TAKE OFF FROM THERE.(not financial advice) DON'T MISS THIS OPPORTUNITY OF A LIFETIME. (not financial advice)
BTC DAILY POST (1/3) XABCD PATTERNShere are the XABCD Patterns I found on the bitcoin chart : )
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EURJPY for longThe euro fell, with fears of a strong outbreak of the Corona virus again within the union.
Technically, the EURJPY is approaching good potential selling areas, supported by the approaching completion of the bat harmonic pattern in an extended area from 129.10 to 128.60 as a stop loss with a target of up to 132.40, with the first target being 130.70
BTC USDT ANALYSISBTCUSDT has been following a trend since it pumped from 29k on Eid but now we can see it breaking the ascending trend line (white line) downwards after facing rejection from the marked descending trend line (red line) .
I am expecting further correction of prices till it reaches the demand zone.