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Abcd fibo retracement trading journal

  • #61
  • Edited 8:54am Jan 10, 2023 8:38am | Edited 8:54am
Quoting RaHaG0D
Hi I am waiting for correction to the entry areas. But such waves that move at a sharp angle rarely show even a 30% correction. Do you not trade back such waves or change the timing and price(ratio)? Or maybe the time frame should be changed to get a better view. Of course, you should assume that I know nothing!! With an empty mind, I ask the basic topics to be properly covered. Or we can take help from the previous wave & draw the correction zone like one of your analysis and get the...
Hindsight is always 20/20, but in trading we need to make calculated risks no matter the methodology or system, for this method the basis for trades only looks for 2 different size Fibonacci ratios: A to B 50 and A to B 100. A to B 100 gives the smaller Fib scale and should be considered as the primary scale when trading.

A to B 100, H-M-L would = 8-3-8
A to B 50, H-M-L would = 9-4-9
(my custom fib tool can only display the proper scale numbers in the retracement area and starts with 10 in the extension levels, however the colors are in the proper sequence)( the standard tool in mt4 will work just fine for using the number sequence)

I did not cover any method for the time factor and I will not. I did point out that any stops should go below the A for any trades, so; depending on the sentiment of the market at that time any A is stopped out. If the sentiment has changed from long to short the trend has a increased probability of changing. Also consider I am using the Daily time frame to calculate the A B C D wave which can produce a large distance in the sequence.
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MY GRID. Markets are NOT random.
  • #62
  • Jan 10, 2023 8:51am Jan 10, 2023 8:51am
Quoting RaHaG0D
I really can't understand these uncorrected sharp waves & can't consider the entry point for it. I think it can be interpreted this way.(The default is that the wave does not want to modify & build a suitable LOW) . Of course, if I have understood this wave correctly so far {image}
Market is going down and there is a sharp reversal.

Q: Did it hit a D price/level in the wave sequence to cause the reversal?

Q: Did the market reverse and take out the A price for the future A B C D which was the previous down C?
MY GRID. Markets are NOT random.
  • #63
  • Edited 9:33am Jan 10, 2023 8:57am | Edited 9:33am
Quoting tonyb123
{quote} Hindsight is always 20/20, but in trading we need to make calculated risks no matter the methodology or system, for this method the basis for trades only looks for 2 different size Fibonacci ratios: A to B 50 and A to B 100. A to B 100 gives the smaller Fib scale and should be considered as the primary scale when trading. A to B 100, H-M-L would = 8-3-8 A to B 50, H-M-L would = 9-4-9 (my custom fib tool can only display the proper scale numbers in the retracement area and starts with 10 in the extension levels, however the colors are in...
Thank you for your reply I wasn't just looking for time, my question was what parameters such as Fibo level or ratio or anything else... if doesn't reach it, I should conclude that doesn't hit the target. Your answer was to keep the market flow in mind while trading & if you enter at the right point, you can get the right profit
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  • #64
  • Jan 10, 2023 9:09am Jan 10, 2023 9:09am
Quoting tonyb123
{quote} Market is going down and there is a sharp reversal. Q: Did it hit a D price/level in the wave sequence to cause the reversal? Q: Did the market reverse and take out the A price for the future A B C D which was the previous down C?
I will follow the topic more to understand better & draw this wave better. In the near future, when I have fully practiced the topic, I will draw the wave & send it again. I definitely don't understand properly yet. Because I didn't have an answer for it, I used the parameters that came to my mind for the target, which I know are definitely not correct at all. I will re-draw & consider what you said
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  • #65
  • Jan 10, 2023 9:15am Jan 10, 2023 9:15am
Thank you for not posting the correct drawing method, I am more eager to draw this wave myself. I will send the correct drawing. I must be able to understand these waves because they occur a lot in the market. Thank you for taking the time to answer
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  • #66
  • Jan 10, 2023 9:44am Jan 10, 2023 9:44am
Quoting RaHaG0D
Hi I am waiting for correction to the entry areas. But such waves that move at a sharp angle rarely show even a 30% correction. Do you not trade back such waves or change the timing and price(ratio)? Or maybe the time frame should be changed to get a better view.
You need to know where you are at in the market and what the sentiment is: Bullish or Bearish or Neutral.
Where is price relative to previous A B C D, current A B C D, future A B C D.
Did the market hit the current D?

Fib retrace is dynamic based on the size of the turn bar closes: up, down bar close. down, up bar close. This produces the size of the A to B.

If the market hit the D you can make a counter trend trade back to the C and then re enter the trend at that price or wait for another turn bar close off the 4 hr or 1 hour chart.
MY GRID. Markets are NOT random.
  • #67
  • Edited 11:52am Jan 10, 2023 11:35am | Edited 11:52am
A simpler practice to better understand the basic concepts so that I can analyze a wave that I don't understand in terms of its structure
A main wave (50% correction) & the trend until D , can be used from the same ABCD concept
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  • #68
  • Jan 10, 2023 11:35pm Jan 10, 2023 11:35pm
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  • #69
  • Edited 3:48am Jan 11, 2023 3:38am | Edited 3:48am
Quoting tonyb123
Current 1HR fibo playing out. Looking for completion of the 3rd down fibo before market begins real push up. Market is using previous fibo D's as support and resistance. Horizontal lines.{image}
I still don't fully understand the return zone or range that is drawn based on 7-2-7, I definitely have a mistake in my analysis I will continue to study & practice until it is solved
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  • #70
  • Edited 9:31am Jan 11, 2023 9:18am | Edited 9:31am
Quoting RaHaG0D
{quote} I still don't fully understand the return zone or range that is drawn based on 7-2-7, I definitely have a mistake in my analysis I will continue to study & practice until it is solved {image} {image}
Something to consider; you do not have to plot another instance of the fib if bars do not close outside the 200 or until the bars run off the right edge of the fib.
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This is how I would plot it
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MY GRID. Markets are NOT random.
  • #71
  • Jan 11, 2023 9:35am Jan 11, 2023 9:35am
Quoting RaHaG0D
{quote} I still don't fully understand the return zone or range that is drawn based on 7-2-7, I definitely have a mistake in my analysis I will continue to study & practice until it is solved {image} {image}
In my examples above I plotted 3 fibs, in wave analysis the 4th wave would be a correction, so you could easily expect it to retrace back to the A of the current wave or even the previous wave.
MY GRID. Markets are NOT random.
  • #72
  • Jan 11, 2023 9:44am Jan 11, 2023 9:44am
Quoting tonyb123
{quote} Something to consider; you do not have to plot another instance of the fib if bars do not close outside the 200 or until the bars run off the right edge of the fib. {image}This is how I would plot it {image}{image}{image}
The proportions of your analysis & drawing are wonderful. My main problem is proportions. I have never used proportions, even my eyes don't see proportions.
With practice, I have to get my eyes used to the proportions at first.
Thank you very much for checking my mistakes
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  • #73
  • Jan 11, 2023 9:54am Jan 11, 2023 9:54am
Quoting tonyb123
{quote} In my examples above I plotted 3 fibs, in wave analysis the 4th wave would be a correction, so you could easily expect it to retrace back to the A of the current wave or even the previous wave.
I noticed the return range & 3fibos. That was to show that D zones become support and resistance. My mind is still searching for mystery & last step!!! (I still didn't understand the structure & proportions . I was re-reading the book from the end) all your drawing lines make sense. I didn't understand the meaning of that part correctly. I should focus on the structure & proportions of the waves first
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  • #74
  • Jan 11, 2023 9:57am Jan 11, 2023 9:57am
As a tip, I would not plot a A to B boundary with a 2 bar turn bar formation, unless, it is over 30 pips or it is an engulfing bar formation.
This pic is a good example of not taking the 1st 2 bars, this is a 3 bar A to B.
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MY GRID. Markets are NOT random.
  • #75
  • Jan 11, 2023 10:10am Jan 11, 2023 10:10am
Sequence is 2-7-2
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The market continued the sequence for a 2-7-2-7 and is attempting to make another 2.
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MY GRID. Markets are NOT random.
  • #76
  • Jan 11, 2023 10:48am Jan 11, 2023 10:48am
Quoting tonyb123
As a tip, I would not plot a A to B boundary with a 2 bar turn bar formation, unless, it is over 30 pips or it is an engulfing bar formation. This pic is a good example of not taking the 1st 2 bars, this is a 3 bar A to B.{image}
You mentioned a very useful point
even if I drew the trend line of the previous wave, the pullback is the same wave that you got. I use stochastic for the first wave, which is better not to use it & go candle by candle.
My eyes don't see the proportions of the chart bc of the indicator. I delete it
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  • #77
  • Edited 3:23am Jan 12, 2023 12:02am | Edited 3:23am
Practice about proportions. I am trying to use the proportions based on the principles of ABCD that I have learned so far. I try very hard not to go back to my previous practice (Third side & Pythagoras & Thales)
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  • #78
  • Edited 8:57am Jan 12, 2023 8:01am | Edited 8:57am
Quoting tonyb123
Today 5min chart A-100 B-50 for both.{image}{image}
Practice for this section
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  • #79
  • Edited 10:09am Jan 12, 2023 9:57am | Edited 10:09am
Quoting tonyb123
Sequence is 2-7-2{image}The market continued the sequence for a 2-7-2-7 and is attempting to make another 2.{image}
Reverse AB 50 and AB 100
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AB 100 sequence 2-7-2-7-2 completed, going to continue to 7?
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There are things hidden in this pic and you will be VERY happy if you understand.
MY GRID. Markets are NOT random.
  • #80
  • Jan 12, 2023 10:31am Jan 12, 2023 10:31am
Proportions
The proportions remind me of this image
It is very enjoyable for me to practice proportions
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