Parabolic Arc Pattern in APE , possible retracement !!!
Updated
Parabolic arc chart patterns form when there is a steep rise in prices caused by irrational buying and intense speculation. Parabolic arc patterns are rare, but they are reliable and are generated in mega-bull trends.
These patterns trend gradually making higher highs and lower lows in the beginning stages but can be volatile in the exhaustion and reversal stages. Irrational buying in the public generates a strong rally to push prices vertically, followed by a steep sell-off.
Parabolic arc is a reversal pattern and has a very predictable outcome. Although these patterns are predictable, they are relatively difficult to trade since the market sentiment is bullish and may be fairly tough to point reversals to trade. Most parabolic arc patterns have a significant correction of 62-79% of its price rise (from the top).
Once parabolic arc patterns reach their target of 62-79%, they tend to reverse as an oversold bounce. Usually these bounces are between 25-50% of its prior fall range from the peak.
In this APE 1hr Chart, I can see a 2 possible based of parabolic chart but both may give you a retracement in between 50%-80% which is 16-19$. We have an ORDERBLOCK as well in 17.2$ which possible price will comeback there as per Smart Money Concept trading.
Get additional confirmation in other indicator or signal for your own trade. Use this chart only as a guide.
For more info of my strategy , I have free tutorials and just visit my YT channel below.
These patterns trend gradually making higher highs and lower lows in the beginning stages but can be volatile in the exhaustion and reversal stages. Irrational buying in the public generates a strong rally to push prices vertically, followed by a steep sell-off.
Parabolic arc is a reversal pattern and has a very predictable outcome. Although these patterns are predictable, they are relatively difficult to trade since the market sentiment is bullish and may be fairly tough to point reversals to trade. Most parabolic arc patterns have a significant correction of 62-79% of its price rise (from the top).
Once parabolic arc patterns reach their target of 62-79%, they tend to reverse as an oversold bounce. Usually these bounces are between 25-50% of its prior fall range from the peak.
In this APE 1hr Chart, I can see a 2 possible based of parabolic chart but both may give you a retracement in between 50%-80% which is 16-19$. We have an ORDERBLOCK as well in 17.2$ which possible price will comeback there as per Smart Money Concept trading.
Get additional confirmation in other indicator or signal for your own trade. Use this chart only as a guide.
For more info of my strategy , I have free tutorials and just visit my YT channel below.
Note
Lets see if this is better. Let see if this chart will be valid after 1-2daysNote
Already Take Profit satisfied and early TP is better . Since i saw some bullish divergence in lower TF i already closed my trade and happy with my earnings in this trade. 
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