I think Shiba will bullishly reverse at the PCZ of Bullish ABCD but as of now i will like to try to enter before it potentially completes the rest of the wave. Stoploss above the bearish engulfing candle of this potential double top.
In the previous chart i made of this coin i provided an early C entry and now that we've reached targets i am providing a potential D entry.
If there's any bullishness left in this coin's market this is where you'll find it.
Interesting looking chart. Having Chart Deja-vu here! That said FIL doesn't have the fundamentals DOT does, but it will be interesting how the market moves here coming forward.
Very bullish looking chart and obviously lots of headroom to go from here.
GBPUSD has formed a broadening top on the weekly and has shown weekly bullish divergence at the bottom of the formation along with that it lines up with the 2.618 which would be the PCZ of a potential Bullish ABCD pattern The target for this setup will be at our horizontal resistance but i could see it possibly going higher to test the upper trendline.
the detail is shown on the above Idea. this Idea is in Continuation of my Confirmed Previous Idea.
Although Bearish Trend was less than I expected ( Fibo Lower Level retraced)
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A bullish ABCD pattern sits on the extreme of the demand zone of this counter-trend trading opportunity.
I'm waiting for this candle to close and decide if I'm going to have an aggressive trade on this setup.
The final decision will be sent to my community.
A ranging market on USDJPY, there is 3 level of support or should I say a buying opportunity.
The first one would be 106.99 as an immediate support level, breaking off that and closing below the support line I will be looking for a buying opportunity on ABCD pattern completion or even a bullish bat pattern if the candle break and close below the support level of 106.99.
A bullish ABCD setup near the important immediate support, if a break and close below the support traders can wait for the major support level before having your trade planned.
One of the two to happen for me to engage the trade.
1. touch the blue line but not closing below it;
2. touch the tip of the blue box also known as the PRZ(Potential Reversal Zone) and...
Potential Weekly Setup in USDSGD
TP1: 1.3178 (839pips)
Open position at: 1.2339 (retrace price after touching D point)
Will be a very profitable trade if the setup completes beautifully.
Daily is still bearish.
Will USDJPY hold its ABCD pattern in this counter-trend trade in the 1-hr chart?
We shall see
TP1: 107.29 (188pips)
TP2: 108.46 (305pips)
SL: 104.44 (-97pips)
Open position at: 105.41