AB=CD

11 Jul 2023

The ABCD is a basic harmonic pattern. All other patterns derive from it. The pattern consists of 3 price swings. The lines AB and CD are called “legs”, while the line BC is referred to as a correction or a retracement. AB and CD tend to have approximately the same size. A bullish ABCD pattern follows a downtrend and means that a reversal to the upside is likely. A bearish ABCD pattern is formed after an uptrend and signals a potential bearish reversal at a certain level. The rules for trading bullish and bearish ABCD patterns are the same, you will just need to take into account the direction of the pattern you trade and the movement of the market it predicts.

11 Jul 2023

Dagangan aktif

sell position activated

11 Jul 2023

Nota

Bearish Regular Divergence type 1
- The Bearish Regular Divergence Ⅰ is a divergence in the price-action that marks two important confirmations including this a technical confirmation in the MACD normally seen in price-action. In this divergence, the price-action marks consecutive higher highs while the MACD forms a double-top with the rejection at the upper baseline confirming the double-top. This divergence is likely to reverse the previously established bullish trend to the downside and continue with bearish determinations. It is important to watch out for fakeouts before potentially entering and when this possibility is low it can be a good entry.

11 Jul 2023

Dagangan aktif

11 Jul 2023

Nota

check this out

12 Jul 2023

Nota

more bearish divergences formed in both MACD and RSI

12 Jul 2023

Nota

ABCD Update & New Fib Retracement setup
NEW TPs