Get in above the break for this fast and furious ABCDE consolidation, we're going for the ATH and beyond.
Reward yourself. Pay yourself.
Any donations will be highly appreciated! :)
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After months of closely observation of these big corrective moves on Gold, we can assume that we are almost in the ending of the complex structure. Looking at the whole structure in its internal movements, its looks like a giant ABCDE (3-3-3-3-3 corrective waves structure) in wich we are in the last one (the "E"). This chart will be use as monitoring the last...
Following similar examples (linked), this one has a good chances. I'm looking for shorts in marked area, with charted SL and TPs.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Bullish Hammer candle on support line (A)
Price finds support on 55 & 100 moving averages.
possible resistance at resistance level (B) and downward trendline (C)
I recommend to move stop loss to entry point at this point since a possible reversal may occur.
Share your view.
Triangles are sideways price action and a contracting triangle can be described as the top line (B to D) is declining and the bottom line (A to C to E) is rising. The corrective structure is labeled as ABCDE.
Yesterday, we posted that we appeared to be in Wave E of a contracting triangle on the minor degree, which would be...
Here we have an INTRADAY trade with an ABCDE correction pattern for CONTINUATION.
ENTRY: (1.5410 - 20 pips)
STOP LOSS: (1.5430 - 20 pips)
BE: (1.5390 - 20 pips) 1:1
TP1: (1.5370 - 40 pips) 1:2
TP2: (1.5350 - 60 pips) 1:3
1) The market is in general downtrend (trade with the trend ).
2) ABCDE correction pattern for continuation.
3) 1H resistance at...
EURCAD is in a downtrading market and it just made an ABC correction triangle witch indicates a continuation at 50% Fibonacci retracement.
It may convert into an ABCDE pattern but if it still hold the resistance level at 50% of Fib, you should short ! ! !
HAVE FUNN & HAPPY PROFITS ! ! !
Possible ABCDE corrective closed triangle pattern on 15m Gold chart.
News may decide the outcome. Break and hold below bottom of triangle can test minor support zones as marked below white dotted lines.
Read between the lines.
Risky management is key.
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Recently I have discovered that assets have not just been in a very bullish trend, but that they are showing signs of being within a specific bullish trend formation. Specifically, bull flags. I'm pretty astonished to have confirmed that this is the case by applying the characteristic ABCDE pattern they display.
The implication of this cannot be understated,...