Get started

Abcpattern

Bitcoin CorrectionMy first TA on Bitcoin was this one: Unfortunately it was worse than what I expected, as of now BITFINEX:BTCUSD is still dropping... This was expected because Bitcoin has been growing for months... It has 12345 Wave and of course it must do ABC to complete the Elliot Wave. In this new analysis it's expected for Bitcoin to reach the 0.786 Fib level of $8501.2 IF it breaks that level and closes bellow it the 1 Fib level is at $5400.2 which I doubt, Bitcoin should finish the ABC and reverse the trend thus making all coins 'green' again. Trade safely! (Do not take this as financial advice!)
BITFINEX:BTCUSD
by angel_lobs
6
KEY SUPPORT IS DEAD : Welcome in bearish woods.Hello guys, here some updates of my precedent chart. The crucial point of my precedent TA didn't hold and invalidate the ABCDE bullish flag. We clearly see now the woods of a major correction. Remember correction are healthy and that's a good time to buy more if you caught the good price. Different scenarios are now possible : - We could be at the wave C of an EW ABC correction that would push us to 8k area. - We can see on the chart a descending triangle pattern who could slowly put us to 7-6k area with a possible breakdown to 4K... and yes... i think it's possible but as always it's a game of probability. For the first time in Bitcoin history (if i remember well) the daily MACD shows a possible reverse trend in bearish zone. RSI shows signs of bearish too. We'll probably retest 10K before any other scenario, but i don't expect this support to hold a very long time. It's always a pleasure to read your comments, agreements and disagreements are always welcome when there are constructive.
COINBASE:BTCUSDShort
by KassandrA_dotcom
5
4 of wave C ? (ABC EW correction).I continue to think that the correction is not over yet. We could be at the wave 4 of the EW "C" ABC correction. Correction are always healthy. Daily RSI and MACD are still overbought. Bollingers bands show high volatility. ETH/BTC looks for a correction too. First target would be 1030$ area. We could see 830$ if the wave 5 is extended. Feel free to post your minds, i can be wrong : agreements and disagreements are both welcome.
BITFINEX:ETHUSDShort
by KassandrA_dotcom
2
Practical Exercise - The ABC PatternThe ABC Pattern is derived from the ZigZag concept from Elliott Wave, and the 1-1 concept from Harmonic Patterns. Practical Exercise  1) Identify a corrective move that look like a ABC Pattern, it can be any currency pair, any timeframe. 2) Using Fib expansion, measure the ABC Pattern. 3) Record down where does this ABC Pattern completes. 4) Also, record down where does price move after the completion of the ABC Pattern, and how far it travelled. 5) Post your exercise on the comment section in this thread. 6) Repeat this practice to gather a total of 10 examples.
TVC:DXYEducation
by KarYong
ETCUSD 15m Two Scalping Short TradesOn related link post below Pair did break long and hit the Previous High Target Price Then price reversed back through the triangle and found support at a previous swing low. Pair broke out of the support level with a bearish continuation move to the previous major swing low hitting the last target profit level. Next update will be to see if the bearish move will hit any fib extension levels. Price is still in bearish continuation. Entered 1st 15m short scalp trade. 1H chart fib had price hit the 161.8% fib extension level. Let's see how far price will go. Pair may have taken a break from it's bearish continuation move. Possible retracement pullback may start. Then we will see if the bearish continuation wins the momentum back or the bulls. ETCUSD 15m chart will help us see the retracement strength. 2nd short scalp trade I entered short after a candle opened/closed below the 38.2% fib. My SL is just above the 50% fib. My TP is at 0% fib @25.50. If price continues short I will enter again after a 15m break-hook-go. If stopped out I will be ready to take a long trade above the 61.8% fib.
BITFINEX:ETCUSDShort
by Tradingstrategyguides
7
BTC BUY OPPURTUNITIES!For those who want to make profits with btc but dont know where to buy because of the correction. I have presented a couple buy opportunities represented as green circles. The first strategy is to buy the breakout for wave b for short term profits, or wait for wave c to finish and set a buy order above the 0.618 fib line. If you are new and dont really have an idea of how to identify the ends of waves, counting the fractals can help. Wave A & C consists of 5 smaller waves down, and wave B consists of 3 smaller waves up. After that it is smooth sailing to the top of the next wave.
BITFINEX:BTCUSDLong
by Woolf_
1
EURCAD bearish potentialABC with huge divergence on the daily (MACD), gives highly potential for price to decline substantially and impulsively. ABC on 1-hour gives an aggressive entry. 1) Never risk more than 2% of your account. 2) Try to be emotionless by applying your strategy to the pip. 3) Invest to yourself and then your capital. Try to educate yourself along with the signals and enhance your risk intelligence and your perception on how Markets work. 4) You do not have to be extremely precise to be highly profitable as long as you take the set-ups with big R/R.
Short
by InvstingWise