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Theta Token / TetherUS

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THETAUSDT trade ideas

THETA - Bulls Took Over! Target => 🎯Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. Weekly: Left Chart THETA rejected a strong demand zone and round number 1.0 so we will be looking for buy setups on lower timeframes. Daily: Right Chart on DAILY: THETA formed a valid inverse head and shoulders and the bulls took over after a momentum candle close above the gray neckline. 🎯 Targets => Our first resistance / target would be around 2.5 so I will be monitoring price action there. If we break it upward (purple projection) then a movement till 4.0 would be expected. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
16
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.
by UnknownUnicorn38199698