"Become one of the successful few who build stone upon stone until they have a solid foundation of knowledge and experience which will last them all their lives. You cannot go into any phase of endeavor and make money or become prominent 'just like that' - you must serve your apprenticeship. -- Richard Wyckoff"
ABC Patterns are most universal and powerful patterns.
This pattern is shaped like a lightning bolt and signals a trend, a retracement and the resumption of the trend. ABC patterns are part of at least another dozen or so market chart patterns like Gartleys, Head and Shoulders, Double Top and Bottoms etc. ABC patterns forecast key market turning points and profit targets for traders. ABC patterns project prices from a key Potential Reversal Zone (PRZ) at C level using Fibonacci ratios of the AB and BC Legs.