GBPJPY BULLISH AB CD Pattern
The rule is :
A Bullish ABCD pattern is denoted by AB=CD, that the length of both the legs is equal to confirm a trend reversal. Along with that, in a classic ABCD pattern, BC is either 61.8 or 78.6 percent of AB, and CD is 127.2 or 161.8 percent of BC. There is also an exception, where CD is 127.2 or 161.8 percent of AB.
Currently we saw a sell off from 78.6 percent of AB and now targeting CD at prices 180.540 or 180.200 range.
Buying to 183.000 tp 1
A Bullish ABCD pattern is denoted by AB=CD, that the length of both the legs is equal to confirm a trend reversal. Along with that, in a classic ABCD pattern, BC is either 61.8 or 78.6 percent of AB, and CD is 127.2 or 161.8 percent of BC. There is also an exception, where CD is 127.2 or 161.8 percent of AB.
Currently we saw a sell off from 78.6 percent of AB and now targeting CD at prices 180.540 or 180.200 range.
Buying to 183.000 tp 1
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.