Abcd pattern forex indicator

45# Fibonacci ABCD pattern Trading System

Enter near point C exit at point D. In attach:. XLS file for to calculate Fibonacci Extensinos.

Share your opinion, can help everyone to understand the forex strategy. Write a comment. Stephane Ouedraogo Friday, 21 August Marco Sanchez Friday, 11 September Wande Cyrus-oluwafemi Sunday, 21 March It has specific Fibonacci measurements of each point within its structure, eliminating room for flexible interpretation. The C point must retrace to either a 0.

The ABCD Pattern

The first target would be the retracement of AD and the second target the retracement of AD. A common stop level is behind a structure level beyond the D point. Conservative traders may look for additional confirmation before entering a trade, for instance an aligning RSI value or a specific candlestick pointing at a reversal. There are several variations, based on CD being an extension of AB such as the 1. AS you see BRG almost arriving at the end of the ascending triangle 2. BRG goes up in the two uptrend channel 3.

BRG supported by the dynamic support 4. BRG has a strong support zone between 0. Descending triangle seems to be mature enough with 3 tops and 2 bottoms defining the structure, today's strength combined with the last 2 days also gives me confidence that GRT is much more likely to breakout here than to A daily close below trendline will invalidate this idea.


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Not financial advice and please always do your own research DYOR - Like and follow if you found this idea helpful The greenback appears to be building on structures supporting a rally in the coming week s as the Nonfarm Payrolls report draws near. These points define three consecutive price swings, or trends, which make up each of the three pattern "legs.

Trading is not an exact science.

As a result, we use some key Fibonacci ratio relationships to look for proportions between AB and CD. Doing so will still give us an approximate range of where the ABCD pattern may complete—both in terms of time and price. This is why converging patterns help increase probabilities, and allow traders to more accurately determine entries and exits.

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