Long
SUNW: Double ABCD pattern? is that a thing?
SUNW on the 1 hr chart.
I think I see SUNW going from a descending ABCD pattern immediately into an ascending ABCD pattern.
The last point that could be the second "D" is already above its "B" point.
Not sure if I am wrong or the pattern I am seeing is called something else, but any input would be greatly appreciated.
I made a couple fibs (2 extensions and 1 retracement) to get an idea of the potential PT areas.
It looks like 0.75 - 0.90 is a reasonable range to look at.
If its end point is in that area, I think it is definitely a second ABCD pattern
Let's see what happens!
I think I see SUNW going from a descending ABCD pattern immediately into an ascending ABCD pattern.
The last point that could be the second "D" is already above its "B" point.
Not sure if I am wrong or the pattern I am seeing is called something else, but any input would be greatly appreciated.
I made a couple fibs (2 extensions and 1 retracement) to get an idea of the potential PT areas.
It looks like 0.75 - 0.90 is a reasonable range to look at.
If its end point is in that area, I think it is definitely a second ABCD pattern
Let's see what happens!
Note
It's a bearish butterfly and I was supposed to use the XABCD tool! LOL!So it looks like its gonna eat it after it hits that PT range?
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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.