ABCD pattern question. - Page 2
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  1. #11
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    Jul 2012
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    Quote Originally Posted by PipBandit View Post
    It's too early to say with your last attachment whether an ABCD will form. Monitor it for a bit and see if price continues to drop - if it does a CD leg might start to form. Do a fib extension then from point C and see how it looks at that point.

    If you're looking for AB=CD patterns it's best to look for something that's underway. Look for that zig-zag shape that's already started so you can project a possible completion point for the pattern.
    Is it possible to identify the stocks which exhibit ABCD pattern , gartley pattern thro some software or scanner? I am a new bee . I hv no idea abt metastock/amibroker? pls. help

  2. #12
    Join Date
    Aug 2012
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    hey Zak, I was wondering what trading station do you use? Thanks. Dan.

  3. #13
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    Aug 2012
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    Hi sweetpip, I was hoping to get a clean chart like Zak here has displayed in this example. most of the platforms i have seen and worked with are too complex looking and annoying. Would you know what he is using? or would you have a suggestion of your own? I am with fxcm right now paper trading on their trading station for past two years, its ok...but somehow not simple enough. Any ideas would be greatly appreciated. Thanks. Dan.

  4. #14
    Join Date
    Apr 2012
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    Pattern just failed to complete the fib levels. Not all patterns will be formed. Don't force it if you want to go to the harmonic route.

    Quote Originally Posted by unleashedzak View Post
    hey all, i was wondering if i was calculating this correct as i am not even out of the school yet and i thought i would get a little bit of help because i don't think the school was as accurate as could be with gartley and the animals lol or maybe im just stupid haha.

    hopefully i can finally figure these things out because i want to begin using them just like Sweetpip and Tmoneybags lol.

    thanks, Zak

  5. #15
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    Apr 2012
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    Remember, there are certain rules to certain levels. If the retracement from AB is 0.62, then we should expect the next leg, CD, to retrace to 1.618levels from the fib levels of BC.

    Same goes with 0.786 to 1.27
    Quote Originally Posted by unleashedzak View Post
    And this would be wrong because D doesn't fit into 1.272 fib ext or the AB=CD rule?

  6. #16
    Jason Rogers's Avatar
    Jason Rogers is offline Verified Broker Support and Analyst for FXCM FX-Men Honorary Member
    Join Date
    Jun 2009
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    3,449
    Quote Originally Posted by lejo1989 View Post
    Hi sweetpip, I was hoping to get a clean chart like Zak here has displayed in this example. most of the platforms i have seen and worked with are too complex looking and annoying. Would you know what he is using? or would you have a suggestion of your own? I am with fxcm right now paper trading on their trading station for past two years, its ok...but somehow not simple enough. Any ideas would be greatly appreciated. Thanks. Dan.
    Hi Lejo,

    Welcome to the forum!

    Testing out different charts is a great idea to see what's the best fit for you. Each platform will have its own strengths. Since you mentioned Trading Station, I wanted to make myself available to you to answer any questions you have about the platform

    For example, if you wanted a chart that looks similar to the one in Zak's example, you can do that on Trading Station as seen below.



    To make Trading Station charts white, right click on the charts and go to Options.



    Then in the Options window, go to Color Schemes and select Light (White).

    Let me know if you had any other questions about configuring the Trading Station charts, and feel free to hit me up in the Broker Aid Station.

    Jason
    Last edited by Jason Rogers; 01-27-2013 at 10:06 PM.
    Ask me questions in the Broker Aid Station:
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  7. #17
    Join Date
    May 2013
    Posts
    1

    Default Software to draw ABCD Pattern

    Hi Pipbandit,

    wonder if you could advise what software i can use to draw the ABCD Pattern?

    am totally new to drawing on the MT4 platform.

    Regards,

  8. #18
    Join Date
    Feb 2014
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    12
    would a good rule of thumb to spot the beast be that alternate lines (in simple terms) as in ab and cd be at the same angle aka parrallel(ish) to each other?nes pas?

    rgds

  9. #19
    Join Date
    Dec 2015
    Posts
    3
    Hi all

    What happens with targets when using ABCD. Is it similar to other patters, do I do a fib retrace of A-D then use 382 & 618 as targets?

  10. #20
    Join Date
    May 2016
    Posts
    5

    Wink USD/CHF ABCD Right now!

    Doesn't get better than this. Check out the u/c daily chart. Looks like a perfect setup for the ABCD pattern happening now! My only concern is CD is slightly longer than AB but other than that the fibs confirm it is very very close.


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    Last edited by Ryang; 07-26-2016 at 07:01 PM.

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