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Abcpattern

AUDNZD Finally Seems to Have Completed the Weekly Chart Pattern!Hello Traders! AUDNZD made a big drop it was missing to complete a pattern I have followed for over 2 years!! Good News & Bad News! Bad News: The final piece of the drop happened in just under an hour, making it extremely hard to enter unless there were limit orders in play waaaay ahead of time. Good News: We may see some GREAT Bullish momentum coming from this pair in the next few weeks, allowing for some entries on trend continuation patterns along the way. your follows &/or like are appreciated.
Long
by DAVID_GIRALDO
US 30: Valentine's Day Massacre?All the good news is out. Prices pierced and fell back to TL. Price at 0.62 Fibo now. Sand P also at Fibo just a hair above 2700. Bear flag flying at tip of pennant. Can it get higher? Of course! 'Pumptards' are capable of infinitely irrational behavior. But will it? That is the question, to be or not to be more! IMO not to be more. Just an idea; the .62 Fibo retrace on this flag is down at 23K for Dow, that's 2K under current price. Would be a pretty penny if it sells to Fibo. Lotta folks calling for a 'crash' but I reckon an 'M' correction is more likely, the 'C' leg on that would be pretty steep, down at 1.62 Fibo brings 30 under 20K. Notice the expanding 'megaphone' corrective structure- ominous, wide open to lower prices. Expect a double bottom with a steeper drop on the secondary correction after the 'Christmas Crash.' Has been trending up for 40 days, as of Groundhog day on Feb 02 (Candlemas!). Timeframe for next leg on correction, based on comps from 1987, 2001 selloffs, is about 80 days from bottom-to-bottom: which puts the next low in late March/early April. Then expect super bully in late April into May before a June swoon. Just guessing. As always, this isn't even remotely anything like advice, just a crackpot harebrained idea. Trade at your own risk and consult a certified investment advisor please!
DJ:DJIShort
by DaddySawbucks
14
US 30 in ABC correction: A Bull Trap; expect Lower soon!Wow what an amazing jump! Does it mean the bears are back in hibernation? Doubtful. Boxing Day's record 1k rally was just an impressive a-leg of an a-b-c minor correction after a punishing 3rd Intermediate wave in the current bear wave. Trend is still Bear! Note in chart the abc pattern extension to 0.50 Fibo coincides with the 0.618 Fib retracement of the intermediate wave, thus a strong double wave effect will likely terminate the countertrend positive corrective wave (4) near 23,300. (Marked by Pincher arrows) Wave 4 may not rise above wave 1, which terminated at 23824, this yields a cap on 4th wave rally. Wave 5 will be stunning and terrifying. Bulls that thought it was all over will panic and despair. Traders who short puts will be wiped out. An estimate of termination for Primary Wave 5 from Fib extensions yields Dow 19072 at the 1.618 extension. An extension lower is certainly possible. The Fib spiral for intermediate Wave (3) reveals expected floor for (5) at 20542, for a 1.272 extension, and also curtails the subsequent, expected 4th Primary Wave rally to near 22700, at Fib time projection near 19-21 Feb 2019. Do not be long in this market! Do not start selling puts for income! I wouldn't sell either puts OR calls short in this market, odds are you will get scared into big losses on both sides. Be patient; be careful! Stay away and save trading capital if in doubt. Risk:Reward very poor right now, risk very high, reward likely low. As always, this post for education and amusement only and does not constitute investment advice; trade at your own risk! GLTA!
DJ:DJIShort
by DaddySawbucks
6
Possible Downtrend AMDHi Guys! Look for this upward channel usually this chart pattern is a continuation for the downside and not for upside. If I have to take this trade I will take it from 26 to have a better RISK:REWARD To have a high probality on this trade we need to see price action that show buyers aren't in control of the market,you can use oscillators to help you (MACD divergence) If we see strong impulsive move (BIG CANDELS) we watch for correction on lower time frame than we decide.
NASDAQ:AMDShort
by YBearBull
3
USDISK´s ABC correction?So far, as for 24.11.18 USDISK rapid rise was hold by 0.61 Fibonacci retracement which is a great sign. It has been hovering below that level for days. We had a fine 1-5 Elliot waves cycle on monthly and what we are seeing now is very likely to be ABC correction of that cycle. Usually, ABC correction retraces to 0.61 level. If current month (we have 7 days left) closes below that level, the next months, we should see a drop down along the Ichimoku cloud. If November candle closes above 0.61 level, it will be very disturbing for Iceland´s economy, as ISK´s devaluation will continue.
Short
by ICFX
SPY Complex Correction In ProgressWe thought the downdraft in October marked "ABC" on chart was the correction. But... We got another pivot at the .62 Fibo, where B turned, now X turned again. Looks like we got a larger WXY wave. ABC was the W that formed first bottom. If this pattern completes, expect -33 on the ABC leg to approximate the X-Y leg. This would put Sand P down around 252. For starters. Let's see how it plays. In my humble opine, we are entering bear market, started 4 October. Sorry! This isn't advice, it's a half-baked idea, trade at your own risk and good luck!
AMEX:SPYShort
by DaddySawbucks
4