Sunworks suffered a lot already, and the stock almost in the graveyard. I am following it a while, was a nice short on the way down. Finally posted a tiny bit more positive earnings compared to expectation.
Meanwhile a falling wedge formation created. Also moving in a big downward channel. There are two scenarios for counting the waves, one scenario suggests,...
Greetings traders,
I wanted to share a great example of an Elliott Wave pattern that appears to be playing out on the chart, suggesting a potential trading opportunity.
Elliott Wave Analysis:
The chart reveals a potential 1, 2, 3, 4, 5, A, B, C pattern, which follows the classic Elliott Wave structure. Here's a breakdown of the pattern's key levels:
1....
CHFJPY has formed an ABC bullish pattern on its hourly chart.
the price is trading above the long entry level EL: 153.241.
ST: 152.640.
Targets:
38% AB: 154.873
62% AB: 156.232
79% AB: 157.201
EURJPY has formed a symmetry bullish pattern retracing at its 50% AB non its hourly chart.
the price is trading above the long entry level EL: 149.126.
ST: 148.605
Targets:
38% AB: 150.482
62% AB: 151.636
79% AB: 152.487
USDCHF has formed an ABC Bullish Pattern on its Daily chart and price is trading above the long entry level EL: 0.89092.
ST: 0.88173
Targets:
23: AB: 0.91606
38: AB: 0.93580
62% AB: 0.96788
Great position with good risk to reward
After breaking the long-term trend line, the price has had a good rally (A) and a slow correction has taken place in the form of wave (B) and I expect wave C to complete.
enjoy
EURNZD has formed an ABC bullish pattern on its hourly chart and price is trading the long entry level EL: 1.72543.
Wall 38% AB: 1.75803
Zone 1 Targets:
62% AB: 1.77732
79% AB: 1.79089
NG has formed an ABC Bullish Pattern on its daily chart and the price is trading above near the long entry-level EL: 2.289
ST: 2.031
Target1:
62% AB: 2.692
79% AB: 2.871
Target2:
127% AB: 3.384
162% AB: 3.747
Target3:
272% AB: 3.747
262% AB: 3.747
GBPCAD has formed a symmetry abc bullish pattern with retracement at the 707% fibonacci ratios.
The price is trading above the long entry level with target zones at:
38% AB: 1.69670
62% AB: 1.71105
79% AB: 1.72136
EURCAD has formed an abc bullish pattern on its daily chart and the price is trading below near the long entry level EL: 1.46301.
ST: 1.45099
Wall: 38% AB: 1.48443
Targets:
62% AB: 1.50480
79% AB: 1.51935
USDJPY has formed an ABC Billis Pattern on its hourly chart and the price is trading above near the EL: 134.630.
ST: 133.432
WALL 38% AB: 135.315
Targets:
62% AB: 136.440
79% AB: 137.243
Traders, in order to buy and sell, make decisions based on price history and use patterns to identify future price movements.
Successful pattern trading requires the acknowledgement of identifying trends, consolidations, support resistance levels and reversal to place stops and targets to forecast price movements.
Here i will discuss one of the key reversal...
EURGBP has formed an ABC bullish pattern on its daily chart and the price is trading above near the EL: 0.87220.
ST: 0.86535
Wall 38% AB: 0.88266
Target:
61% AB: 0.89288
79% AB: 0.90018
EURGBP has formed an abc bullish pattern on its hourly chart.
The price is trading above near the long entry level EL: 0.86953.
EL: 0.86953
Targets:
62% AB: 0.87228
79% AB: 0.87349
127% AB: 0.87706
162% AB: 0.87706
After the good growth of BTC and the correction of ABC, the divergence between A and C, I expect Bitcoin to continue to grow.
If the price moves slowly until June 9, this scenario will be invalidated.
AUDUSD has formed an symmetric pattern abc bullish on its daily chart.
The price is trading the EL: 0.66886.
ST: 0.65641
Target1:
62% AB: 0.71750
79% AB: 0.73406
127% AB: 0.78210
162% AB: 0.81635
NZDUSD has formed an abc bullish pattern on its daily chart and the price is trading above the EL: 0.61669.
ST: 0.61119
Targets:
62% AB: 0.62949
79% AB: 0.63443
127% AB: 0.64853
162% AB: 0.65892
