THETAUSDT AB=CDAB=CD
The AB=CD pattern is easy to identify on charts and consists of 2 equivalent price legs. It has specific Fibonacci measurements of each point within its structure, eliminating room for flexible interpretation. The C point must retrace to either a 0.618 or 0.786 and the BC projection is either 1.27 or 1.618. When the BC projection and the AB=CD completion converge closely and define a small area, the chance of a reversal increases.
The first target would be the 382 retracement of AD and the second target the 618 retracement of AD. A common stop level is behind a structure level beyond the D point. Conservative traders may look for additional confirmation before entering a trade, for instance an aligning RSI value or a specific candlestick pointing at a reversal. TradingView has a smart ABCD Pattern drawing tool that allows users to visually identify this pattern on a chart. There are several variations, based on CD being an extension of AB such as the 1.27 AB=CD or the 1.618 AB=CD pattern.
THETAUSDT.P trade ideas
THETAUSDT | NEAR RESISTANCETHETAUSDT has trading near the resistance zone. The same zone seems the double top zone formation. The bears candles formation near the top will confirm the price action rejection from resistance zone.
The bulls need to break above the resistance zone. While bulls are in control below the resistance zone.
Trade your levels accordingly.
THETAUSDT is testing the resistanceThe price is testing the 4h resistance after a range between 4h structures
The price created a false breakout from the range, usually, it's not a good sign for the continuation
How to approach it?
If the price is going to have a clear breakout from the resistance and retest as new support, According to Plancton's strategy , we can set a nice order
–––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
THETAUSDT needs the breakoutThe price is testing the daily support on 1.050$ and now the market is testing the 4h resistance on 0.382 Fibonacci level.
How to approach it?
If the price is going to have a breakout from the resistance and retest the resistance as new support, According to Plancton's strategy , we can set a nice order
–––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
THETAUSDT | BREAKOUT AHEADTHETAUSDT previously broken the rising support and fall below it. Now the price action is continuously taking rejection from rising support. The rising support now acts as a resistance.
We are expecting a bullish trend after break of rising support now acting as resistance. The bears will be only in control below the resistance.
Trade your levels accordingly.