The ADAM & EVE pattern is classic one, but quite rare and only valid in long-term time-frames, in this case the daily chart!
Despite being a rare figure, it is quite simple to operate and set your target.
The best entry is at the neckline breach and the target is the distance between the neckline and the EVE bottom, projected upwards.
Now it's time to hope that this pattern will be confirmed with a breakup in the coming days/weeks so we can surf that big wave up. Please, leave your like, it is very important to me!
God bless!
Commentaire
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The ADAM & EVE pattern still remains perfectly valid, and a long entry (to this pattern) will only occur if a neckline breaks.
Commentaire
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Of course, all this will only be valid after the breakup!
I continue to look at a possible A&E breakup in the coming weeks, if it is confirmed I will bring updates to this chart and I will certainly follow as you said using different targets along the way, because it is a daily chart pattern so we will have good opportunities for sell on intraday resistances, repurchasing in previous supports and improving our position.
I believe that you are only supposed to buy after that neckline has been broken anyway, (confirmation). Either way I've traded a few A&E and if they work out, they work out quite well. I use Bulkowski's measurement rules for them. Once you can figure out the math for them that is. :)
I did come up with different target though if it does break that neckline. That would be $4979 based on Bulkowski's calculations of 4240+((4240-3119)*66%)
I like that you picked up this A&E. Not many people do these it seems.
Just started to follow you and so far you're keeping me interested.
Thanks for all the posts you do in here and TG. It's well appreciated.
LiuTrader
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@southnjes, Hey, thank you so much for your words.
I really like any Bulkowski content, always very precise and didactic!
I continue to expect an A&E breakup in the coming weeks, if it is confirmed I will bring updates to this chart and I will certainly follow as you said using different targets along the way, because it is a daily chart pattern so we will have good opportunities for sell on intraday resistances, repurchasing in previous supports and improving our position.
Of course, all this will only be valid after the breakup!
Thanks for your comment and for taking the time to follow up on my reviews.
etfsandstuff
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Here's a tip, dont buy at resistance
LiuTrader
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@etfsandstuff, lol, this is obvious! I've sold my bags and will re-buy cheaper and increase my position if the neckline of this pattern can be broken.
etfsandstuff
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@LiuTrader, sure... just mentioning because we have all been burned by buying when things look more bullish than ever. Sometimes we forget to check the long term charts and realize that the dominant trend is still down, it still looks like a bear flag to me on longer term charts so why i only play the short side for now. My biggest mistake in cryptos is going long on ALTS while BTC is hitting resistance, just got burned on BTT because of this.... i really should not be going long on ANY crypto until BTC resumes its uptrend. Something for the notebook.
LiuTrader
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@etfsandstuff, yeah yeah, I appreciate your help but Im a experienced trader and I’ve been made huge gains in altcoins. Its all about to catch the good opportunities, even with the major trend being bearish, always will have bad and good choice in the market!
Thanks for your comment.
etfsandstuff
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@LiuTrader, no worries , we are all her for the same thing , we all love this game and there are endless opportunities, what else could we ask for.... :)
LiuTrader
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@etfsandstuff, Yes thats it! I just love this market.
InvestingScope
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Exactly as we projected 11 days ago:
LiuTrader
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@InvestingScope, Not exactly, In my opinion your neckline makes no sense. But I like your chart anyways!
I did come up with different target though if it does break that neckline. That would be $4979 based on Bulkowski's calculations of 4240+((4240-3119)*66%)
I like that you picked up this A&E. Not many people do these it seems.
Just started to follow you and so far you're keeping me interested.
Thanks for all the posts you do in here and TG. It's well appreciated.