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Abcpattern

MSTR | Back to 120s / Double Digits | FractalPrice action blew off to a high around $540 and since then closed back under the historical close. The goal here is to see price action consolidate under resistance in the preparation for a major sell-off To invalidate all of this I would like to see more of an accumulation pattern back above major resistance, but if we see an increase in aggressive selling then price will be hunting for at least $120. Price action also looked a bit familiar to the 2021 sell-off with the same blow-off-top and a ABC pattern breakdown After the C sell-off price retraced back to B and then finally flushed out back to major support Current price action has pretty much done the first phase and we should expect some consolidation before the next big move.
NASDAQ:MSTRShort
by Nathanl19
DEEP - Finding The Next Trade SetupDEEP recently took out the January 13, 2025 low at $0.12345 with a Swing Failure Pattern (SFP), followed by a successful retest. This led to a bounce that hit a key level at $0.12141, presenting a solid long opportunity with minimal risk. After this, the market turned bullish, forming a 5-wave structure and rallying to the 0.786 Fibonacci retracement level at $0.18643 (measured from the $0.20473 high to the $0.11922 low). This was a key take-profit zone for longs and a great short opportunity. Adding confluence, the anchored VWAP also acted as resistance just above at $0.19, offering another low-risk short setup. Additionally, a key resistance level at $0.1809 further reinforced the rejection zone. Current Price Action & Short Setup From the 0.786 Fib retracement, DEEP retraced 20% downward, nearly touching the 0.618 retracement of the 5-wave structure before bouncing. Now, price is finding resistance at the golden pocket (0.618 at $0.17347 and 0.666 at $0.17534) of the recent drop, aligning perfectly with the daily 21 EMA ($0.1757) and daily SMA ($0.17347). This setup suggests an ABC corrective move is forming. Using the trend-based Fibonacci extension, the 0.786 extension aligns with the 0.618 retracement at $0.1457, creating a strong short setup. Short Entry: Between $0.17347 - $0.17534 Target: $0.1457 (0.786 trend-based Fib extension / 0.618 retracement) Stop Loss: $0.1845 Risk/Reward: 2.5:1 There’s also potential to extend the target to the 1:1 trend-based Fib extension at $0.13733, but this would depend on price action. Potential Long Setup If price reaches the $0.1457 support zone, this could present a high-probability long opportunity. Entry: Around $0.1457 Risk/Reward: 2:1 or better, but confirmation is needed before executing the trade
Short
by SiDec
4
BTC to new high...It seems that BTC to be at the beginning of wave c:B. price is supported in green zone that it includes fibonacci 1.618 of wave W and fibonacci 0.5 of wave a:B and fibonacci 1.272 wave X. I expect that price to rise to red zone that it includes fibonacci 1.38 and fibonacci 1.23 of wave A and fibonacci 1 of wave a:B. after that price completes the extended flat pattern in red zone, I expect the price to decline below the end of wave A and probably below 80,000.
Long
by Mr_elliottt
SOL Trade Setups: Key Levels to Watch for Big Moves!Solana has been on an impressive run, hitting a new all-time high (ATH) at $295. The previous ATH from 2021 at $260, along with the recent swing high of $264.63 (December 2024), are now acting as key resistance levels. Bulls are struggling to break above the $260 range and we’re seeing some bearish control as SOL trades below the weekly open, never a great sign for upward momentum. Short Trade Setup It’s looking like SOL could be in an ABC pattern, working on wave C. Here’s a potential short trade setup: Entry: Around $260 if price revisits that zone. Stop Loss: Above $270. Take Profit: $220, where strong support lies. R:R Ratio: About 3:1. If you’re already short, congrats! If not, $260 could be your next chance to jump in. Support Zone and Long Setup There’s plenty of support stacking up between $220 and $217, making it a great zone to consider for a long position: Point of Control (POC): At $218.50, from the November-January range Fib Levels: The 0.786 trend-based Fib extension is at $220.23 The 0.618 retracement (low of $169 to high of $295) is at $217.27 EMAs: The 200 and 233 EMAs on the 4H chart line up nicely with the $217 level Channel Support: The median line from $264 to $169 also lands around $217 Long Setup Plan Entry: Ladder longs between $220 and $217 Stop Loss: Below $217, maybe around $214 Take Profit 1: $239 for a mid-range bounce Take Profit 2: Move your SL to entry and let the rest ride for bigger gains Patience is Key Whether you’re waiting for $260 to short or $220 to long, the setups are there, now it’s about watching the levels and being patient. Both trades offer solid risk-to-reward ratios, so no need to rush in. Stay ready and let’s see how this plays out!
COINBASE:SOLUSDShort
by SiDec
4
HBAR’s Next Support and Resistance TargetsHBAR hit a key high at $0.3922 but faced rejection, suggesting the formation of a trading range or a potential ABC corrective structure. A developing head and shoulders pattern further signals possible bearish momentum in the short term. Key levels and trade setups: Short Setup: Entry: Around the 0.618 Fibonacci retracement of the current wave Stop Loss: Above the $0.3922 key high Take Profit: Targeting the Fib Retracement 0.382 at $0.34356 R:R: A favorable 5:1 if taken from the 0.618 retracement or 2:1 when entering after losing the dOpen Support Zone: Anchored VWAP, weekly level and Fibonacci speed fan 0.618, depending on timing, align near $0.34356–$0.33284. This confluence provides a robust area for potential price bounces. Long Setup: Entry: Within the support zone, contingent on bullish confirmation Stop Loss: Below the support zone
Short
by SiDec
LTC Trade Zones: Short or Long?LTC has been making some moves recently, with a solid rise getting close to a key high. But the current price action hints at an ABC corrective structure, so a pullback could be on the way. Short Setup: Entry: Between the 0.618 and 0.786 Fibonacci retracement of the current wave Stop Loss: $141.4 (the previous high) Target: $130.7 R:R: About 2:1 Long Setup: Entry: Around $130, with confirmation Stop Loss: $126.45 Targets: First at $134 Second at $147 (the key high) R:R: A nice 5:1 potential Why These Levels? The $130 support zone lines up with the 1:1 Trend-Based Fibonacci Extension ($130.29) It’s also near a previous swing high, adding more weight to it as a strong level Plan: If price moves into the retracement zone, a short trade targeting $130 makes sense If it hits the $130 support and shows strength, a long setup targeting $134 and $147 could be a great play
Short
by SiDec
DOGE’s Next Move: Key Levels to WatchAfter a remarkable bull run from September to December 2024, DOGE concluded its rally with a rising wedge pattern, a sign of exhaustion. This structure also marked the completion of a 5-wave Elliott structure. The breakdown from the wedge came with a clean retest, followed by a significant drop. Current Market Outlook The new year began with a bullish rise, reaching the 0.618 Fibonacci retracement level at $0.364 (drawn from the high at $0.48434 to the low at $0.26216), a great short setup. Presently, DOGE appears to be forming an ABC corrective structure, with wave C in progress. Additionally, a Head and Shoulders pattern is developing, with the neckline sitting close to the yearly open at $0.316. Support and Confluence Zones 1.) Fibonacci Level: The 0.618 Fibonacci Retracement of the 5-wave structure is positioned at $0.2353, which aligns with the Head and Shoulders target for strong confluence. 2.) Fair Value Gap (FVG): There is an unfilled FVG and November’s untested high at $0.22888, which adds significant support confluence. 3.) Trend-Based Fib Extension: Using the Trend-Based Fib Extension from wave B, the 0.786 Fib lies near the $0.2353 - $0.22888 range for further alignment. 4.) Monthly Level: The monthly level at $0.22 strengthens the case for this zone being a critical support area. 5.) Fib Speed Fan: If price drops to the $0.2353 - $0.22 region between January 17th and the end of the month, the 0.75 Speed Fan Fibonacci will also align with the support zone, further emphasising its importance as the fair value trend line. Trade Setups Short Setup: Entry: Around the $0.397 0.618 Fib Retracement level Stop Loss: Above $0.43 Take Profit: Targeting around $0.25/24 Risk-to-Reward (R:R): ~5:1 Potential Long Setup: Entry: Within the $0.2353 - $0.22 support zone (confirmation needed) Stop Loss: Below $0.22 Take Profit: Targeting around $0.275
Short
by SiDec
Is ZEN Preparing for a Bounce? Key Levels to WatchZEN recently broke down from a 10-day descending triangle, signaling bearish continuation with strong selling volume. This triangle forms the B wave of an ABC corrective pattern, indicating further downside is likely before any potential reversal. Let’s dive into the technical details and key levels to watch. Key Observations and Levels: 1.) Descending Triangle Breakdown: The measured move target of the descending triangle lies at $18.7, aligning perfectly with multiple confluences: The 0.702 Fibonacci retracement from the recent lows. The previous trading range highs, adding historical support to this level. 2.) Fair Value Gap (FVG): Back in December, ZEN broke out of its previous trading range, leaving an unfilled FVG around $19.5, our previous high on December 7th, 2024. This gap represents a significant area where price may return before resuming its trend. 3.) Support Zone – $20 to $18.7: The $20 psychological level is a key point and aligns with our support trendline from previous lows. The Fibonacci negative 1 extension of the descending triangle also targets $18.7, further reinforcing this level as a significant support. 4.) Trade Setup: The $20–$18.7 zone presents a strong support area with multiple confluences, making it a favourable entry point for a long position. However, confirmation is essential! Watch for bullish candle patterns and volume signals before entering. Conclusion: ZEN’s breakdown from the descending triangle suggests further downside, but the $20–$18.7 zone offers a robust support area with several technical alignments: Fibonacci retracements, the descending triangle target, historical range highs and an unfilled FVG. This zone presents an attractive long opportunity, provided confirmation signals are present. Monitor the price action closely in this range to capitalise on a potential bounce. Happy trading everyone!
Long
by SiDec
ZEN - Is It Time for a Correction?It appears that ZEN is in the process of forming a potential ABC corrective structure: Wave A and Wave B Context: Wave A (5 impulsive waves down) is complete, forming the foundation of this corrective pattern. Wave B retracement is currently unfolding, heading toward the golden pocket zone (Fib 0.618 - 0.666). If price extends further to Fib 0.786, this would offer the best short entry with minimal risk and high reward potential. Ideal Short Entry Zone: The golden pocket (Fib 0.618 - 0.666) is identified as the optimal area for initiating short positions. For added precision, consider laddering entries from Fib 0.618 up to Fib 0.786, especially during fast impulses. Wave C Target Zone: The projected Wave C target remains the 1:1 trend-based Fibonacci extension at $24.46, with the following key confluences: Anchored VWAP at $29 Point of Control (POC) from the old trading range Psychological level of $30 Fib speed fan 0.618 aligning with the support zone Trading Plan Short Setup: Ladder short entries in the Fib 0.618 - 0.786 zone, monitoring price action for confirmation. Aim for Wave C completion around the $30-$29 support zone Long Setup (Wave C Completion): Watch for signs of reversal at the $30-$29 support zone, which offers significant confluence for long entries.
Short
by SiDec
11
VIRTUAL - Short Setup with 30% PotentialWe are currently observing a completed 5-wave structure and the emergence of wave A, which found support around $2.5. Now, price action is forming wave B, which aligns with a resistance area marked by the Fib 0.618 retracement and the daily level. Trade Setup: Short Entry: For a riskier entry, you can enter now and ladder your position up to the Fib 0.618 and 0.718 levels. A stop loss should be placed above the 0.786 Fib for protection. Head and Shoulders Projection: Using the bar pattern and the length of the left shoulder, we estimate that wave C will form over the next 2-3 days, confirming the head and shoulders setup. Take Profit Target: Low at $2.3266 – First target for securing profits. Overall Target: The 0.618 Fib retracement of the entire 5-wave structure at $2.1002. Risk-Reward (R:R): Potential for 3:1 and 5:1 trades, offering a gain of 20% - 30%. Additional Notes: If dOpen is lost with volume confirmation, this provides an opportunity to add to the short position. With the holiday season approaching, this short setup allows for some time off the screen while still capitalizing on market movements. This setup offers an excellent blend of risk and reward, with options for both aggressive and conservative short entries. Happy trading.
Short
by SiDec
7
XLMUSDT - ABC correctionXLM had an increase of over +600% in just 20 days followed by a 15-day consolidation phase suggests an exhaustion of the previous trend. The sideways movement aligns with an ABC correction, where wave C is likely unfolding. Key Levels and Confluence Trend-Based Fibonacci Extensions: 1:1 Target for Wave C: $0.3873 Key Support Zone: $0.3725−$0.3873 Market Sentiment Lack of Volume: Reflects reduced interest from buyers, confirming a bearish bias. Below Weekly and Monthly Opens: These levels often act as dynamic resistance, showing bears are in control for now.
Short
by SiDec
4
ACHR: Long Position @ Wave 5 (Elliot)Step 1: Ride the Wave 5 Momentum ACHR is about to start its Wave 5 rally, offering an excellent short-term long opportunity. Currently we're in the middle of Wave 4 and we will likely experience 3 to 5 days of accumulation/indecision before Wave 5 starts. Let’s break it down: Slow Stochastic Bullish Momentum The Slow Stoch oscillator is signaling strong bullish momentum, albeit in overbought territory. This is typical during Wave 5 and suggests further upside potential before the trend exhausts. Staying with the momentum while it lasts can be very rewarding. Massive Volume Spike In the last three weeks, ACHR has seen a significant increase in volume, indicating strong buying interest. Volume often leads price, and this kind of activity strengthens the case for continued upward movement. The surge in interest can drive the stock toward its next key resistance around $9.84. Fundamental Catalysts Driving Momentum Recently, ACHR has achieved major milestones, such as progress on FDA approvals and securing new contracts and orders. These developments add to the bullish sentiment, attracting more traders and creating a supportive backdrop for the rally. Trade Execution: Enter a long position now to take advantage of the current momentum and aim for a target near $9.84 (the resistance zone). Consider tightening your stop-loss to protect profits as the stock approaches this level. Step 2: Exit, Wait for the ABC Correction, and Re-Enter for a Bigger Move After completing Wave 5, the market is likely to enter a corrective ABC phase. This is where it’s smart to exit your position and wait on the sidelines. Why? The correction will likely bring the price down to a more attractive level, allowing for a better risk-reward setup for the next big move. Once the ABC correction concludes, re-entering around the key support zone sets up a new long opportunity with an eye toward the Q1 2025 target of $12. The long-term fundamentals of ACHR and its growing momentum in the market make this a high-probability setup. Trade Execution: Watch for the corrective phase after Wave 5 completes. Use Fibonacci retracement levels or support zones to identify a potential re-entry point.
NYSE:ACHRLong
by felipegomesbwm
BTC is about to start an upward movement towards $100,000According to the chart, it seems that Bitcoin has completed a flat correction pattern. Two high-probability support areas consisting of overlapping different Fibonacci percentages are marked with green areas on the chart. This flat pattern will likely end in one of these areas. Given that the price has entered the first support zone, any price increase above the end of wave iv confirms the start of the third bullish wave of Bitcoin. I expect the start of a powerful uptrend in the coming days and even hours.
Long
by Mr_elliottt
BTC - A Healthy Pullback or a Sign of More to Come?Hey fellow crypto enthusiasts! Let's dive into Bitcoin's recent price action and what we can expect in the coming months. The Correction Phase: Why It's Not All Doom and Gloom First off, don't panic about the current correction phase. After the halving, a correction was not just expected. It’s healthy! Think of it as Bitcoin catching its breath before the next big sprint. We're seeing an ABC correction pattern, which savvy traders will recognize as a typical and necessary, market movement. Timing the Market: When to Make Your Move So, when’s this correction likely to wrap up? Our crystal ball suggests somewhere between July and August/September. This is the perfect window to dollar-cost average (DCA) into your positions. By buying a fixed dollar amount of BTC at regular intervals, you can average out your entry price, reducing the impact of volatility. Long Positions: Entering long positions in the 50000-52245 range could be a smart move, considering the support levels and the bullish outlook post-summer. Key Levels to Watch: The Golden Zone Here’s where it gets interesting. The big kahuna level to keep an eye on is 50K. Not only is it a psychological level, but it’s also where several technical indicators converge. The 0.618 Fibonacci retracement of the smaller wave sits at $52,245, while the 0.382 Fibonacci level of the entire 491 day bull run is at $51,690. This zone also hosts an old trading range, known as a bullish order block. Translation? This area is packed with historical significance and potential support. Fibonacci Levels: Fib 0.618 of the smaller wave is at $52,245. Fib 0.382 of the entire 491-day bull run is at $51,690. Ichimoku Cloud: Your Support Safety Net On the daily timeframe, the Ichimoku cloud’s edge (custom settings) aligns around the 50K mark, offering additional support. It's like having an extra safety net below a tightrope walker. Altcoins: The Unsung Heroes Don't forget about altcoins! Many have pulled back significantly, with some seeing 60-80% corrections. This is a golden opportunity to DCA into altcoins and position yourself for potential gains. Remember, during market corrections, altcoins often offer lucrative entry points for those looking to diversify. Wrapping Up: The Bigger Picture While the correction phase may seem daunting, it’s a natural part of the market cycle. The key levels around 50K-52K are not just numbers, they’re strategic entry points. With the support of the Ichimoku cloud there’s a lot to be optimistic about as we move towards the end of summer. What do you think? Are you positioning yourself for the end of the correction? Drop your thoughts and let’s discuss! With a clearer understanding of Bitcoin's correction phase and the key levels to watch, you're now better equipped to navigate the crypto waters. Happy trading!
CME:BTC1!Long
by SiDec
GBPUSD ABC BULLISH Hello traders! Let's delve into a promising trading setup on the GBP/USD pair. On the daily chart, GBP/USD has formed an ABC bullish pattern, indicating a potential upward movement. The pattern is accompanied by a 50% Fibonacci retracement level, adding to its significance. Entry Level: The long entry level (EL) is identified at 1.2428. The price is currently trading above this level, presenting a favourable opportunity for long trades. To manage risk, consider placing a stop-loss order below the C point of the pattern at 1.2384. This level acts as a protective barrier against adverse price movements. Wall level at 1.2591This confirms the strength of the bullish momentum. Partial Profit-Taking: Traders may opt for partial profit-taking at key Fibonacci retracement levels: 38% retracement level (AB) at 1.2717 Alternatively, aim for 62% (AB) at 1.2916 or 78% (AB) at 1.3062. Wishing everyone a great Weekend ahead! Remember to trade safely and adhere to risk management principles. TCPLTP
Long
by TradeChartPatternsLikeThePros
6