ABCD Fibo

Let us have some fun with ABCD Fibo

Ingridents

M15 Chart where you can see the candles not very thin and not at all bold

The advantage of M15 chart is you can see minimum two days of trading and it is very important for our set up

EMA 70 close in M15 chart

Fib from MT4

You trade long from A to B and you trade short from B to C and you trade long from C to D

You will be doing the reverse like short from A to B ..........

Well well How am I going to spot these ABCD in M15 chart

Simple

In the case of long from A to B to start with

Look to your left side of the chart and see do you have any previouse
low in the previouse day in M15 CHART if the answer is NO. Take the current low as your A

Based on price Action you will long from point A to Point B

How do I know my point B well there are two indications

Candles crossed EMA 70 and started to show weakness, Wait
Candle started to move below EMA 70

Mark that as your high point B by using the Fib

Journey from B to C which is going to be your short will be

If the currencey pair is bullish it will move down either to 31.8 or 50 fib level or it can go below 61.8 to 71. 6 fib level

But at no point in time it should not go beyond point A if it is not going below point A then that will be point C.

Once C is established your journey will be from C to D fib extesnion
124 etc .

Stop loss if you are moving from C to D for long the candle where you
marked as point A (low of that Candle)

Stop Loss for short from B to C can be the high of candle you spotted in B

Stop loss if you are long from A to B i think use your judgment.

As per rule you should not have any other high when you mark point B, but I am diluting little bit here by using EMA 70 and weakness.

The overall picture of ABCD indication is provided by the great trader
which i cannot name here as per FF rules

But I am providing the entire trip if you have the time

I am attaching the EU chart for further discussion

UJ Chart cueentley at 23.6 fib level has to cross B for further bullish

GU we are at just below 61.8 Fibo and if A is taken out will be
big damage for G

I was giving so many pairs to give the view

See the note on EU in M15

As long you spot A any hit on the top without touching the A will be buy on dip

and see how the C on Gu is going .

C is more than A

But keep your limits by taking profits on considerable levels.

I like KISS trading but for how long did you do that ?

Thanks for sharing

I am on trade for long time to come having said that it is the first time how you can trade on a flow with a relaxed mind I mean to say no tension.

How can you be on the flow to the trade here I am using M15 chart for 20 or odd pip but at higher time frame it will be different and you need the patience and SL.


Like i said once you spot the A you can roll from one to another.

I dont think it is a KISS Trading why because

I myself go for short if the flow is from A to B and vice versa

Many times we have seen the price stick to one place and refuse to move up or down

i will show you chart of EU now . The price never moved from 23.6 after the drop even in m15 chart

This is my second part of trading where i complain I miss the train and I wait

As long as support holds you can still try because the candles has not gone down either to C or A for me to complain and keep quite for the rest of the day. Trade is still open.

My Gu Trade is moving from C . In the attached chart you can notice lot of pin bar at 61.8 which signifies buyers at those levels

The first target i am looking at is 1.63875

Hello Harigp,

Nice insight in ABCD patterns; so far so good; the extended C reached already 1.6410,which is the first target 124 fibo. I follow you in identifying the AB line which seems to me the most difficult. Good luck.

see the charts

GU, UJ AND US CANDA


GU C TO D UP

UJ CTO D DOWN

US CANDA CTO d DOWN

gu tp hit

goood thread! subscribed!

keep it up

Thank you

Another Trade on AU which was very fast

The retrace was only at 38.2

TP taken as the previouse support

Hi Harigp,

Very nice and clear view to see the market.
What is your entry point for trade? When price move back in direction of AB from C or when price break point B?

Also in your charts you have Macd on top right corner. Do you also use that one too?
Is there a recommended time session for this method?

Thanks.

When we will mark new AB signs. For example in this current Eur picture if it makes new low then we will mark above high as A and new low as B is it correct?

And the trade which you took long targeting D around 1.4430 I think is still valid?

Thanks

For the down side movment i am looking to short from C retracemnt
to 38.2or 50 and reverse for long

in the case of EU now there is chance of breakout to further down side
because the A may be taken out.

EU A where we have drawn for the upmovment

Since you are trading the M15 chart you dont have to go that far to mark the B

Look my AU chart i have marked B even before the fall

Read again my first post and if you have more doubts we will go through
the procedure again

look the Gold chart H4 where i have marked ABC

Right now the c has not gone beyond the 61.8 fibo

possibilty of further fall