ORCL fell from a steep rising wedge and looks to be recovering. Rising wedges are usually bearish and interrupts supply and demand.
Possible AB=CD pattern but D is not here yet so I call this ABC bullish.. If you think you have an AB=CD pattern, use the magnet and move leg AB to over C.
AB=CD is a reversal pattern that helps you identify when the price is about to change direction. The pattern consists of three legs, with two equal legs labelled AB and CD, together they form a zig-zag shape. The retracement (from B to C) can be between 38.2% to 78.6% of the A-B leg, however, an ideal pattern has a retracement of 61.8% to 78.6%. ORCL retraced to the 0.618 on the BC leg which is where you can begin to figure out which harmonic pattern you may have. There is another pattern this could end up being so I say "possibly" AB=CD (o:
Possible stop below C, which is the thing I really like about this pattern. If it does not blast off, you did not lose a whole lot if you have your stop a bit under c, avoiding poossiblly getting stopped out by retests of C.
Targets calculated by subtracting A from B and applying fib levels.
ORCL is in a long term uptrend..
Not a recommendation..
Possible AB=CD pattern but D is not here yet so I call this ABC bullish.. If you think you have an AB=CD pattern, use the magnet and move leg AB to over C.
AB=CD is a reversal pattern that helps you identify when the price is about to change direction. The pattern consists of three legs, with two equal legs labelled AB and CD, together they form a zig-zag shape. The retracement (from B to C) can be between 38.2% to 78.6% of the A-B leg, however, an ideal pattern has a retracement of 61.8% to 78.6%. ORCL retraced to the 0.618 on the BC leg which is where you can begin to figure out which harmonic pattern you may have. There is another pattern this could end up being so I say "possibly" AB=CD (o:
Possible stop below C, which is the thing I really like about this pattern. If it does not blast off, you did not lose a whole lot if you have your stop a bit under c, avoiding poossiblly getting stopped out by retests of C.
Targets calculated by subtracting A from B and applying fib levels.
ORCL is in a long term uptrend..
Not a recommendation..
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.