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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Need a Help : ABCD price pattern

Need a Help : ABCD price pattern

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1Need a Help : ABCD price pattern Empty Need a Help : ABCD price pattern Sun Oct 21, 2012 1:49 pm

nkuda


Manager - Equity Analytics
Manager - Equity Analytics
Need a Help : ABCD price pattern Bearis10

Dear traderathome and other Harmonic price pattern experts,
Above I have attached the bearish ABCD pattern in Harmonic price pattern.
Bellow I have mentioned the clarification of ABCD pattern in http://www.babypips.com.

Let's start this lesson with the simplest harmonic pattern, and what could be more basic than your good ole ABC's? We'll just pop in another letter right there (because we're cool like that) and we've got the ABCD chart pattern!

To spot this chart pattern, all you need are ultra-sharp hawk eyes and the handy-dandy Fibonacci tool.

For both the bullish and bearish versions of the ABCD chart pattern, the lines AB and CD are known as the legs while BC is called the correction or retracement. If you use the Fibonacci retracement tool on leg AB, the retracement BC should reach until the 0.618 level. Then, the line CD should be the 1.272 Fibonacci extension of BC.

Simple, right? All you have to do is wait for the entire pattern to complete (reach point D) before taking any short or long positions.

Oh, but if you want to be extra strict about it, here are a couple more rules for a valid ABCD pattern:

The length of line AB should be equal to the length of line CD.
The time it takes for the price to go from A to B should be equal to the time it takes for the price to move from C to D.


I'm using DirectFN charts, My question is : I can clearly see A to B and B to C retracement using Fibonacci tool in DirectFN, But How I can extend it to C to D (1.272) to see that selling point in DirectFN. to further understand my question, I have attached the MAL.N charts to show my question there.

Need a Help : ABCD price pattern Mal10

If anybody can clarify me how to do this, I will much great full to Him/Her Smile





2Need a Help : ABCD price pattern Empty Re: Need a Help : ABCD price pattern Mon Oct 22, 2012 10:53 pm

nkuda


Manager - Equity Analytics
Manager - Equity Analytics
No body helped me stile Smile

3Need a Help : ABCD price pattern Empty Re: Need a Help : ABCD price pattern Tue Oct 23, 2012 2:55 am

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@nkuda wrote:No body helped me stile Smile
draw the fib from bc.make sure your fib tool is adjusted to have those extensions 127.2,141 ,161.8 etc Very Happy

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