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Abcdchartpattern

AUDJPY Potential Bearish ABCD Pattern | 1.9% TargetShort Day Trading Position Take Profit 86.300 (Completion of the pattern) SL: 89.1 (If breaking the pattern up) The AUDYPY pair has been showing signs of bearish divergence on the 4 hour chart, and a potential creation of ABCD Pattern while the Bearish big trend continues. The pair has started the downtrend since September 13th last year on the Daily chart and it will probably continue until reaching the support level on 86.00. Based on these technical analysis, it is possible that the AUDYPY may experience a bearish movement. Traders should be cautious and monitor key levels of support and resistance , as well as any further bearish signals that may confirm this potential move. I would be grateful to get your feedback for this idea if you have any opinion to share ✽↝✔ Esteem your Analysis and seek improvements ⌁ @AbdullahTech ♾
Short
by AbdullahTech
1
📊 Harmonic Patterns Cheat SheetHarmonic Patterns use the identification of quantified chart price action structures that have specific and consecutive Fibonacci ratio alignments that form the visual structures. Harmonic patterns calculate the Fibonacci levels of the price patterns to identify high probability reversal points on the charts. This method believes that harmonic patterns or cycles repeat on charts in cycles repeatedly. The key to using this strategy is to identify these patterns and to use them for creating good risk/reward ratio entries and to exit when a profit target is reached. Positions are taken based upon the odds that the same historic patterns will repeat after entry. 🔹 Butterfly The structure of the Butterfly pattern requires a specific alignment of Fibonacci measurements at each point within the structure. Most important, a mandatory 0.786 retracement of the XA leg as the B point is the defining element of an Ideal Butterfly Pattern and it acts as the primary measuring point to define a specific Potential Reversal Zone. In many ways, the Ideal Butterfly Pattern is like the Gartley Pattern because it requires a specific B point retracement and possesses a tighter array of Fibonacci ratios within the structure. Specifically, the Butterfly incorporates a 1.27 XA projection with a “tame” BC projection, which is usually only a 1.618. In addition, the Butterfly usually possesses an equivalent AB=CD pattern or an alternate 1.27AB=CD pattern. Although the equivalent AB=CD is a minimum requirement, valid Butterfly structures rarely exceed the alternate 1.27 AB=CD completion point. 🔹 Shark The Shark Pattern is dependent upon the powerful 88.6% retracement and the 113% Reciprocal Ratio, works extremely well retesting prior support/resistance points (0.886/1.13) as a strong counter-trend reaction. Represents a temporary extreme structure that seeks to capitalize on the extended nature of the Extreme Harmonic Impulse Wave. Demands immediate change in price action character immediately following pattern completion. Extreme Harmonic Impulse Wave utilized depends upon location of 88.6% level – these are minimum requirements. Requires an active management strategy to capture high probability profit segments. 🔹 Gartley The important features of the Gartley are the specific location of the various points: X,A,B,C and D. The X-A leg is the largest price move in the pattern. It is followed by a counter move of A to B. The first leg, A to B, sets up the potential AB=CD, which is crucial to the completion of the pattern and to the indication of the reversal zone. After a brief and smaller B to C retracement, the C to D leg is established. A precise calculation of the AB=CD will provide a significant potential reversal point. Ideal Gartley The ideal Gartley set-up will be defined by specific Fibonacci retracements. One of the most important numbers in the pattern is the completion of point D at the 0.786 of XA. Although the price action might exceed this number slightly, it should not exceed point X. The pattern is a nice set-up, especially with the convergence of an AB=CD. 🔹 Bat The Bat pattern is probably the most accurate pattern in the entire Harmonic Trading arsenal. The pattern possesses many distinct elements that define an excellent Potential Reversal Zone. The pattern typically represents a deep retest of support or resistance that can frequently be quite sharp. Quick reversals from Bat pattern PRZs are quite common. In fact, valid reversals from Bat patterns frequently possess price action that is quite extreme. The pattern incorporates the powerful 0.886XA retracement, as the defining element in the Potential Reversal Zone. The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The most ideal B point alignment is the 50% retracement of the XA leg. The B point is one of the primary ways to differentiate a Bat from a Gartley pattern. If a pattern is forming and the B point aligns at a 0.50 of the XA leg, it is likely to be a Bat. 🔹 Three Drive The three drives pattern consists of a series of higher highs or higher lows. It is similar to the ABCD pattern. The difference is that a Three drives pattern is made of 5 legs, while an ABCD pattern has only 4. Three-Drives is a reversal pattern, so it signals an upcoming change in a trend. Point A is at the 61.8% retracement of the drive 1. Point B is at the 61.8% retracement of the drive 2. Drive 2 is at the 127.2%-161.8% extension of A. Drive 3 is at the 127.2%-161.8% extension of B. You can enter the market when you are sure that the market has formed the point B (buy in a bearish Three-Drive and sell in a bullish Three Drive). Take Profit should be around the 127.2%-161.8% extension of B. 🔹 Cypher The Cypher pattern, which can be either bullish or bearish, has five points (X, A, B, C, and D) and four legs (XA, AB, BC, and CD). Like any other harmonic pattern, the theory behind the Cypher chart pattern is that there is a strong correlation between Fibonacci ratios and price movements. Eventually, the market is expected to reverse from point D after the four market swing wave movements – X to A, A to B, B to C, and C to D. B point retracement of the primary XA leg ranges between 38.2% to 61.8% Fibonacci levels. C point is an extension leg with a Fibonacci ratio that should be between 127.2% to 141.4% of the primary XA leg. D point should break the 78.6 retracement level of XC. 🔹 AB=CD In this pattern, the A to B leg is the first price move. After a brief retracement from point B to point C, the pattern will complete the C to D leg, which is the same length as AB. Simply, after the AB and BC legs have been established, you project the AB length from point C… Although the price action will not always be exactly equivalent, the AB=CD legs usually will be close enough to determine the reversal points. Sometimes, this pattern will be exact but I usually wait for the CD leg to at least equal the AB leg. The Fibonacci numbers in the pattern must occur at specific points. In an ideal AB=CD Pattern, the C point must retrace to either a 38.2% at a minimum to validate the structure. The maximum retracement of the AB leg is an 88.6% level that defines a less extreme AB=CD pattern formation but still valid. 🔹 Crab The Crab is a distinct 5-point extension structure that utilizes a 1.618 projection of the XA leg exclusively. This is the most critical aspect of the pattern and the defining level in the Potential Reversal Zone (PRZ). The extreme (2.618, 3.14, 3.618) projection of the BC compliments the 1.618 XA extension. In addition, the Crab primarily utilizes an alternate AB=CD to compliment the PRZ. Although a minimum AB=CD completion is necessary for a valid structure, the alternate 1.27 or 1.618 calculation are the most frequent cases. The 1.618 AB=CD pattern is the most common alternate calculation utilized in the structure. It is important to note that the alternate AB=CD pattern within the Crab is the least important number in the PRZ. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
6
LINKUSDT Exiting Ending Diagonal from the last impulsive wavePrice action, based on Elliot Waves principles, is falling from peak after complete an Ending Diagonal from the last extended impulsive wave to a potential target at local demand in hourly timeframe in a possible 78,6% retrace as shown on AB=CD pattern, below volume POC and after reject Anchored VWAP from May '22 bottom. Consolidating in a parallel channel as shown within a modified Schiff Pitchfork. Potential swing-downward in a corrective wave target to Dec '22 low re-test. Monthly Inside Bar zone.
Short
by firmestudio
1
LINKUSDT Potential Bullish Gartley to turns Bearish / FlatPotential reversal price action in a potential ending diagonal Elliot pattern corrective, plus potential bullish Gartley and AB=CD projections aiming demand zones. The price is ranging @ upper region of a monthly Inside Bar candlestick pattern. I'm expecting the breaking of Aug '22 low to lowers lows newer targets. The price action above this level tends to ranging in zig-zags. Anchored VWAP from the Aug '22 low is a important intraday support. Price is ranging between the upper bands 0.618-1.00 from this VWAP. Bearish divergences on RSI and Chaikin Money Flow oscillators. Similar pattern linked below.
Short
by firmestudio