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Abcpattern

XRP ABC Correction Pattern $0.15 IncomingABC correction pattern from using the Day chart for XRP/USDT on Binance. Based on FIB Retracement, "C" would put us at the 1.618 level ($0.15043) which is a level I’ve been having my eyes on for a while now. With this ABC pattern it confirms that my previous thoughts could come true. Many see this as a bad thing however XRP at $0.15 is something many who bought at the ATH’s never thought they’d see again but guess what? Christmas will be special. I believe $0.15 is the bottom for XRP and the sooner we get there the sooner we can head to new ATH’s in 2020. Now is not the time to sell, we're so close to the bottom. When we go sub-20 Cents, that's the time to truly BUY!
Long
by tpsnb
AUDUSD ABC Correction ComingAUDUSD has bounced from a yearly low and is starting to show signs of a reversal pattern. Waves 1,3,5 are impulse waves which you can see broken down in the 5 wave (light blue). Waves 2 & 4 are corrective ABC waves (pink). The purple shows the completion of the first 5 waves which represents wave 1 (white) of a larger Elliot wave cycle. Wave 2 (white) would be the ABC correction of the larger wave 1 (white). Following the fifth wave (purple) is usually a larger ABC correction (pink) of the entire first wave (white). This upcoming ABC correction would represent wave 2 (white) of a larger Elliot wave cycle. Potential targets for shorts would be 0.67900 & 0.67500. If price consolidates around the 0.67500 and begins making a impulsive movement up we will look for a long opportunity. This long would potentially be wave 3 (white) of the larger Elliot wave cycle. Will update after the completion of the ABC correction. This is for educational purposes only. This is in no way intended to be financial advice. I am not a financial advisor.
Short
by csohrab
TLT, how do we predict time?A question traders ask themselves a lot, especially options traders is WHEN exactly price will hit certain targets. By using a Fibonacci timing tool that uses a high as point 1, a second later high as point 2, and the low in between them as point 3, we can project Fibonacci extensions that indicate potential trend reversals, or in this case aggressive extensions of the existing trend to the upside in TLT. One can see from the arrows in this 2 day candlestick chart how accurately the tool has worked is the past but where are we now? I think we may have topped short term and are currently in the B leg of an ABC correction (this is invalidated by TLT making new highs). We may top in the B wave next week (10/11) and if the B-C leg of the correction is equal in duration to the A leg then 10/29 may mark the bottom in the 130s, that is another timing tool one can use for ABC corrective moves. Please ask any questions.
NASDAQ:TLTShort
by TNasr
7
US 30 in ABC Correction? Road to ATH; in Handle of CupVolume lessens on rising prices, increases on downdrafts. RSI divergent. Small caps have reached .50 Fibo retrace off September's lower high. SP500 and Dow have a gap to fill down to the 0.50 Fibo. Three-day rally feels like a B wave, chaotic and widely fluctuant. If so, expect C wave down to the gapfill at the breakout point from Cup near 26300/SandP 2942. A hedged short here is probably a fair R/R as EOM 'window-dressing' is likely to finish what seems to be a modest correction. The ABC is consistent with Intermediate Wave 2 of a Primary wave 3; markets should enter third-in-third wave on completion of the modest correction. A severe tankoff would invalidate this hypothesis! IMO another major October downdraft is unlikely as these rarely happen two years in a row; but anything is possible in this mad market. Taking a small short position on indexes with the gap up in AM on 9/27; this gap will very likely fill in day; first week of October is likely to be choppy. Completing a corrective wave might coincide with positive trade news in Mid-October; if the outcome is disappointing expect a deeper selloff. Still very chancy. Indicators to watch: RUT strong support at 1500 (IWM 150, now trading near 153); small caps have been a leading signal canary. I'd close shorts with IWM at 150; DIA at 264; SPY at 294, if and when they get to these prices. An ABC complete wave could well provide launch point for next bullrun. Longer-term still Bullish going into New Year, I'm not convinced this appearance of H&S in the monthly chart is really going to rollover. We shall see! This isn't investment advice; just an idea, trade at your own risk; GLTA!
DJ:DJIShort
by DaddySawbucks
1
Macro Elliott Wave? ABC Zig-Zag or Flat Formation?(Using the BraveNewCoin Liquid Index for Bitcoin (BLX) on a Monthly time frame - log scale) Are we in a Massive Macro Elliott Wave that started back during our first bull market in 2010? If so are we seeing an ABC formation and will it be a Flat ABC formation that takes us back down to the bottom of our bear market of 2018? Or A Zig-Zag ABC formation that will take us down even lower than our December low of 3.1k, possibly as low as 2k or even mid to low 1k region? Interested in hearing your thoughts below.
BNC:BLX
by DeeGee84