There is a 4H DT since 16 Oct 2019. It has repeated an ABCD pattern for 4 cycles. It is possible it will repeat again starting at the possible current LL. The RSI and PA have already broken their trendlines. The repeat of the ABCD pattern also tops out near a 1D dynamic resistance trendline. I plan to watch the 15M chart at market open to see if it starts back upwards.
Here is a teeny tiny shot of the 4H chart to see all the repeats of the ABCD pattern.
And the 1D to see the trendline.
Here is a teeny tiny shot of the 4H chart to see all the repeats of the ABCD pattern.
And the 1D to see the trendline.
Note
This one is still not ripe yet. But the TP is pretty clear – the end of the ABCD coincides with both the falling dynamic resistance trendline and the SR at the recent LL. Plus a potential bullish failure swing is shaping up. Once that completes it will trigger my trade.Note
I missed the entry and sat this one out - but it worked out as described above.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.