T1 generally represents Target 1 (or Price Target 1). A price target is the projected price level of a financial security stated by an investment analyst or advisor. It represents a security's price that, if achieved, results in a trader recognizing the best possible outcome for his investment.
Price Objective 1
Another way of stating that you've initiated or moved a stop loss to protect profit (however little) has been established.
The ABCD pattern (AB=CD) is one of the classic chart patterns which is repeated over and over again. The ABCD pattern shows perfect harmony between price and time and is also referred to as ‘measured moves’. It was developed by Scott Carney and Larry Pesavento after being originally discovered by H.M Gartley.