Get started

Abcpattern

Bottom of RSI channel + Fib confluence in NOKIAHi everyone. Trying my hand at stonks again., Nokia is showing a number of potential reversal signals. For starters, Nokia gapped down and held the 0.886 Fibonacci retracement from the July 2012 correction rally. After that rally, Nokia had what I believe to be an ABC retracement downwards, with a target for "C" being $2.42. This correction sequence in my opinion is very reminiscent to a 3-3-5 Elliott Wave correction. 3 Waves up, 3 waves down, 5 waves up which would complete the bullish correction. If indeed we are looking at a 3-3-5 bullish correction sequence, we are either on the very last, or close to the very last wave downwards for this asset. Next would in theory be a powerful 5 wave impulse upwards to complete the 5 waves of the 3-3-5 correction. My opinion for the measurement of the "C" wave of this final 3 ABC series is located at $2.42. The local low so far this past trading week is $2.34. We can see that there was a fairly sizable bullish candle after touching the 0.886 and 1.618 "C" wave retracement. In the RSI, notice how the bottom of the channel was respected. This has also now printed bullish divergence in the weekly chart from late 2019. With Fibonacci, we now know that we have a potential "C" wave having completed at $2.42, as well as a bullish 0.886 retracement at roughly the same price range. Confluence! On the 30m, we can clearly see the reactions that were present when these levels were hit: The daily is showing 4 tests of the 0.886 and 1.618 retracements. The weekly RSI channel on the daily is showing that we briefly dipped below support, but were able to re-enter back above both oversold and the channel support. There is some bullish divergence from the 12th of March. This has been accompanied by heavily increasing overall volume. Currently, price is showing a spinning top doji after breaking above a triple top. The price increased from bottom to top by 20%. The Chaikin Money Flow indicator is showing consistent higher lows since late Oct 2016. These higher lows are accompanied by lower highs, which is in turn forming a symmetrical triangel. There are 3 touches of support and 3 touches of resistance so far. To validate a symmetrical triangle, rule of thumb is 3 touches each on both support and resistance. This will cause a very powerful move, whichever way it breaks. There is also a potential bullish falling wedge forming from Q2 2018. On this time frame we are only 3 points away from entering the accumulation portion of this indicator. Weekly MACD is looking somewhat neutral. There have been consistent lower lows and lower highs since mid 2017. There is a flag-like channel the MACD has been following, similar to the RSI. Interestingly, a very peculiar situation in the MACD histogram, however. There is a very strong bullish divergence in this recent drop versus the one that took place in November. Like the weekly CMF indicator, there is a potential bullish falling wedge forming as well. By the way. I did an analysis on Gold back in April of last year. Coming up on 1 year from the day I made it, gold is so far doing (almost) exactly what I thought it would. If Gold falls back down for a re-test of $1,350, it could mean that stocks are very near a potential bottom. Gold is also printing a descending triangle, and is currently facing rather strong resistance in the RSI. Consider how much fear there is in the market right now. Consider how hard and how quickly we dumped, 35%!!! IN WEEKS! The strongest and fastest drop in literal history. Also keep in mind- Wuhan and mainland china are now peaking in CV19 cases. And last but not least- just how many shorts and puts do you think there are? nokia's have a wide reputation for being INDESTRUCIBLE. This asset is literally screaming bull flags everywhere. wtf America?
NYSE:NOKLong
by UnknownUnicorn5836947
3
SPOILER ALERT : BTC IS GOING SUB 1500$Ladies and gentlemen, i'm back again. PLEASE BEFORE ANYTHING ELSE : CLICK ON THE LIKE BUTTON AND FOLLOW ME. YOUR SUPPORT IS VERY IMPORTANT TO ME. Now, let's begin with some serious stuff and recap everything in BTC since 2017 . For most of the crypto-space, yesterday was a terrible day. Maybe one of the worst there has ever been. For me, of course it wasn't. If you follow me since 2017 you know i have recommended to sell BTC holding's since 17-18k$ and to begin the short positions since BTC turned in bear market around 12k$ : At this time my charts was really ugly but hey, the idea and the price action were relevant. If you click on the link you will see a exemple of two of the gorgeous trades i shared last year. The first one was just chirurgical : The other one takes more time to release but was a success too : Since we hit 3200$ area in november 2018. I recommended to caught the "mid-term" bottom of BTC around 3500$ : . AND MOST IMPORTANT for the french community i made 2 educational videos were i explain a potential ABC super cycle correction. On these videos i said the TOP of the B should be around 13500$ (we were around 4000$ at this time) and guess what : it happened ! My last chart should soon be succeed and i can remember when people told me the chart was ridiculous. This is fun : I have a question. Is there on Trading View any single analyst who did such constant and precise work ? I'm not here to congratulate myself (well maybe a little bit) but what i want to share is that it seems we are effectively in a Super-Cycle B wave now and so I expect the C wave to break the 1500$ area. I know, by now, you are literally thinking : IS HE CRAZY ? And I know, as everyone i'm not perfect so i can be wrong some times (infinitely rare #sarcasmornot). SO NOW THE UPDATES, because that's why you are here : Let's talk about some facts. However i look the graph my answer is the same : A CRASH NOT END LIKE THIS . We are still way too high compare to the average price action before the begin of the bubble. In a technical way : - We have break down the triangle who was contracting the price since 2 years now and for THE FIRST TIME EVER we broke the weekly 200 MA (and the 200EMA you see on the chart in blue, but for the second time). A weekly close under the 200MA would be an EXTREME BEAR signal. I agree there are 2 more days to go before the close. Take a look at this chart : charts.cointrader.pro - Ichimoku shows bear territory in weekly AND MORE IMPORTANT a FLIP in bear territory on MONTHLY - Monthly RSI is in BEAR territory. - Monthly MACD crossed again in a continuous bear-market. - OBV and CMF are a disaster. With all time high sell volume. - SAR is now break. I know this post is not very optimistic, but more and more i'm seeing the chart, more and more i feel that the crypto-market is in a MASSIVE trouble. Yes it can only be because of coronavirus, yes the halving is coming, yes maybe BTC is the real revolution. If you follow me you know i'm a BTC supporter. BUT FOR NOW IM STILL BEARISH. A fall to 1500$ or even lower doesn't mean BTC IS DEAD (but probably most of the altcoins will be). Trading is a game of patience. Better days are to come. I'm now making chart for forex and stock too so follow me and say me in the comment section which chart you would love me to see me analyse. Wish you best luck everyone and remember IM NOT A FINANCIAL ADVISOR, I'M DOING IT FOR MY PERSONAL ENTERTAINMENT ONLY and the pleasure to share my ideas with you ! CHEERS
BITSTAMP:BTCUSDShort
by KassandrA_dotcom
65
V reversal, if 289 could be Conquered quickly, plan to longThis is one of the images in my vision. I have provided another different image of Elliott waves. see attached link. In this image, SPY might be a "V" reversal pattern. See left 3 samples in SPY daily chart: Dec. 2018; Jun. 2019; Oct. 2019; SMA200 will become support once the price is above it. "V" reversal is one kind very strong trending pattern. In all these 3 samples, "V" pattern created new higher high. In such kind quick and big move, how to join the trend with low risk? Here is an ideal plan: Condition: 1. SPY must go above 289 quickly, The high point marked as "B" 2. and down below 287; the low point marked as "C" 3. and go up again Confirmation Entry: Stop buy about 288-290 (B-C)/4+C Stop: about 284 ($1 below C) Target: 312; buy at 288: Risk/reward=1:6 buy at 290: Risk/reward=1:3.7 if Gap up above 290, let it go, don't chase. Risk/reward >= 1:3 is the minimum request in a trading plan.
AMEX:SPYLong
by PlanTradePlanMM
1
AMD a possible Momentum Reversal, plan to long at 48Condition: If SPY could conquer the 290 quickly, which shows SPY in V reversal pattern. If SPY is in side way or down trend, don't take this trade. AMD is relatively stronger than SPY. It will have better chance to go up. AMD price must go above 52 first, and down below 48; If AMD cannot pass 52, the next down target is 36 and 32 (two fresh demand zones below current price.) Confirmation Entry: Stop buy 48 (Above SMA8) Stop: 46 (under D) Target 1: 55 (next fresh supply zone) risk:reward=1:3.5 Target 2: 60 (ABC pattern: C_leg) risk:reward=1:6
NASDAQ:AMDLong
by PlanTradePlanMM
3
A-B-C Wave Begins For Bitcoin. $100,000 Post Halving?The Bitcoin price decreased significantly on February 26, creating a bearish engulfing candlestick and breaking down well below the previous support level. This caused daily RSI to drop below 50, invalidating my previous five wave formation. Rather, it seems that the formation ended at the $10,491 high. But, the price has just reached the 200-day MA and seems to be bouncing, so we could be due for a relief rally/bounce. This also fits well with an A-B-C correction, which is quite common after a five wave upward move. If the correction takes the same amount of time as the upward move, it will be finished on April 10 near $7800. The likeliest place for it to end would be between $9500-$9600, both a previous support level and the 0.5 fib level of the entire decrease. While there will likely be ups and downs throughout the way, I am expecting the price to eventually get there and decrease afterwards. The completion of the correction also fits well with the logarithmic chart and the halvening date. The price has increased significantly before the first two halvings, so the same is expected now. The third halvening is projected to occur on May 20 (black line). If the correction ends near April 10 (white line) at $7800, this would serve to validate the ascending support line and also leave enough time for the BTC price to begin an upward trend.
BITFINEX:BTCUSDLong
by BitcoinMaximus1
ABC (D) (E|A)Note: this is not backtesting, just an observation of some pairs in the last week. All of these can be seen as ABC, but I like to chart it as ABCDE and see that E is not coming in the way. I spotted this behaviour on various pairs and time frames, but the last week provides nice summary to be put in one place. They provide nice RR, but require patience :) And of course this is not the every time winning case - you also have to take in account trend on larger time frame and support/resistance levels. Anyway, hope somebody will find this useful and will benefit his/her trading. ABCDa rising AUDCHF: AUDNZD: ABCDa falling USDCAD: Failed ABCDE = ABCDEA USDCHF: Or just ABC with breakout and pullback USDCNH: Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Education
by rludvik
[GBPAUD] ...rebound continuation?Hello Traders! From a technical point of view, trend on intraday chart still remains bearish , but at the same time, we cannot rule out some technical rebound in short term. Below, in the "comments" section we will publish some technical updates if there are technical conditions. The pair still remains very attractive in the short to medium term, and it could give us some trading opportunities. If you think our analyzes are useful, support us with a simple "Like", thank you and trade with care!
Long
by TheAnonymousBanker