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Abccorrection

LINK The Sleeping Giant? My Fellow Crypto Traders, Appreciate you taking the time to view my analysis, in which I hope you may find it beneficial. Please be sure to “LIKE” if you indeed find my analysis useful and/or find my analysis intriguing. Also, I’m new to charting game and the crypto/stock space. So, if you have any constructive criticism or tips, please share. Cheers & Happy Trading! ----------------------------------------------------------------------------------------------------------------------------------------------------------------- ANALYSIS: LINK is on the hunt to re-test the $11.00 resistance, in which could result in LINK reclaiming that resistance as support. But, due to LINK breaking the $10.50 resistance, and having some struggles at $10.90, a correction back toward $10.50 is imminent. Therefore, I can see LINK entering a small accumulation phase before it continues the hunt to test $11.00 and on to $11.36 This narrative could playout, due to 9ema is looking to cross both the 20ema and 50ema.
KRAKEN:LINKUSD
by AB_Trading-Intelligence
2
AUDUSD - Daily Bearish GARTLEY in pursuit??With last weeks Friday close with a strong Bullish Trend Bar, are we to expect a further move up? Potentially. in saying this we may be forming a Bearish HARMONIC, - either a Gartley or Bat formation - this pattern could prove to test supply zones @ 0.73853/0.73285 before a move down. This could also be a viable ABC Correction if the pattern plays out. Pull backs on the lower position could give a nice entry to the completion level of the Gartley/BAT Watch and Wait Bear Trader.
Long
by TraderChes
2
Sand P Correction: Ongoing, on B wave; Wave C inbound?!Wave A took form of a minor abc, duping many to believe all is well; rebound to the 0.62 Fibo near completion, acting very much B-wave like with wild swings and volatility struggling higher; several gaps to fill below now, most recent at 3348 on 10/05; 3305 from the week before, and all the way back to 2865 on 18 May. An ABC in the RSI may be expected as well, given chaotic nature of markets and overhead resistance, reaching overbought seems unlikely IMO. This is textbook case from John J Murphy, Technical Analysis of the Financial Markets, Fig 4-10a; break, retracement back to the TL and rejection. Closing my longs Tues 10/06 and scaling in shorts; week of 12 Oct might be quite volatile IMO; price may exceed the Fibo at 3444 slightly IMO. Weakness may set in as early as Wednesday or Thursday this week; intensify week of 12- 16, and panic selling may appear week of 19 - 23 Oct. Pivot in the week prior to election is likely IMO, but weakness and volatility might persist in the days leading up to it. Here's Murphy's free textbook pdf, I highly recommend this read: cdn.preterhuman.net Scroll down to p.2, LOL; p;1 is blank, not a screen load error! Enjoy! This is not financial advice, trade at your own risk, GLTA!!
TVC:SPXShort
by DaddySawbucks
11
BTC (Y20.P3.E24).Bullish Pattern.GartleyHi All, ~~~ A continuation from the previous post ~~~~ Exploring the possibilities > a_ ABC correction wave b_ Some harmonic to play out, leaning towards a Gartley or Shark pattern > 1.271 or 1.618 pullback (Point C could be slightly higher as well to .886 level) c_ A AB=CD pattern d_ Another Triangle structure to consolidate before another leg up In all cases, I'm still bullish and I have 3 potential levels for this like ABC correction as per my previous post commentary. Please give me a like or tick for this post Regards, S.Sari PREVIOUS POST relate to this at the micro level:
by ssari
EURUSD Elliot Waves/ABC Correction PredictionI see that it is too late to hop into this pair, the end of the 4th wave is coming so therefore I'll be speculating where price goes to not just next but potentially after that to gain the most profit possible with the data given. If price decides to push down and show some sort of switch in momentum then depending on what data comes from the exhaustion will give me an idea of where to enter Bearish as there seems to be Bearish Orders built around the beginning of potentially what would be the A Wave of the ABC Correction Pattern. Using Market Structure only gives more confirmation of this idea.
Short
by RiosTrades
1
EURAUD, 4-hour timeframe, C movement of ABC correctionBased on the 4hr timeframe we could see price already finished with B correction of ABC movement from elliott wave. After B is finished, C is expected to come in and it usally go to around 61.8 - 127.2 fibonacci retracemen of B. I already have 1 buy position from 1.6190 and planning to add another buy position. During friday price finally managed to closed above 1.6240-1.6270 resistance which is a good news for bulls. This pair offers a good RR ratio currently as i believe AUD wil go down so EURAUD will shoot up. Buy EURAUD 1.6260 Stop loss 1.6190 Take profit 1 @ 1.6420 (first resistance) Take profit 2 @1.6550 (second resistance) Take profit 3 @1.6680 (127.2 fibonacci retracement) Good Luck
Long
by HayatoDragonFX
2
AUDUSD, 4hr tf, ABC corrective waveAfter a 3 month 1500-pips bull run by AUDUSD from 0.5500 area to 0.7070, price start to exhaust and has been moving in a sideways direction for 1 month since 10 June 2020 to 10 July 2020. In my opinion we could see some correction from AUD now as there is also a fundamental issue regarding COVID-19 second wave. There is a triangle pattern forming, and price already broken below the support. By assuming this is an ABC correction after the 5th wave movement of Elliott wave, we could see price go down to area around 0.6720-0.6700 I am selling AUDUSD 0.6950 Stop loss 0.7015 Take profit 1 @0.6860 Take profit 2 @0.6800 Take profit 3 @0.6720 Good luck
Short
by HayatoDragonFX
ABC Correction Completed for GBPUSDGBPUSD has been ranging for almost 2 months after the completion of a motive wave. The market has ranged and completed multiple waves and it seems to have completed an ABC correction. 2 months worth of consolidation is pretty extensive and thus the belief that a trend is coming soon. So here's a fair amount of reasons for traders to buy GBPUSD again, while at the same time, the market is moving towards tho 200MA for a retest in the weekly timeframe.
Long
by AlgoVenture
SPX near ending diagonal EW structure; More Pain AheadEW labels as charted suggest an ABC is unfolding in a Zig-Zag corrective structure: The 5-3-5 pattern is emerging, with the C wave 5-impulse remaining to fill; Bear market rally 'B' wave has taken form of a WXYXZ 3-3-3 minute wave pattern, 3 counter waves each in turn consisting of 3 minute waves (minute labels omitted for clarity); the double topping ending diagonal near the 0.62 Fibo is ominous; 100% extension of A wave by 'C' is shown; the 0.62 extension would bottom at ~2140; the 1.24 extension would reach 1400 index price; NB, below: IF 'C' wave reaches 1.62 extension of A, then it likely represents the Third wave of an impulsive 5-wave correction, which would imply a crash to extreme low prices: This is just an idea for your amusement and education; trade at your own risk; reference: Education; from elliottwave-forecast.com 5.1 Zigzag Elliott Wave Theory Zig zag Guidelines • Zigzag is a corrective 3 waves structure labelled as ABC • Subdivision of wave A and C is 5 waves, either impulse or diagonal • Wave B can be any corrective structure • Zigzag is a 5-3-5 structure Fibonacci Ratio Relationship • Wave B = 50%, 61.8%, 76.4% or 85.4% of wave A • Wave C = 61.8%, 100%, or 123.6% of wave A • If wave C = 161.8% of wave A, wave C can be a wave 3 of a 5 waves impulse. Thus, one way to label between ABC and impulse is whether the third swing has extension or not
SP:SPXShort
by DaddySawbucks
67