Hi traders,
On this NZDUSD we have an initial ABC movement which I have marked in red. Then I copied the whole move, which makes a point D. In other words, a 100% AB=CD pattern. Both time wise and price wise. Now I want to see if we can also duplicate of the retracement (the BC move) and create point E. This point happens to be at the 50% retracement of the AD move.
Cheers
On this NZDUSD we have an initial ABC movement which I have marked in red. Then I copied the whole move, which makes a point D. In other words, a 100% AB=CD pattern. Both time wise and price wise. Now I want to see if we can also duplicate of the retracement (the BC move) and create point E. This point happens to be at the 50% retracement of the AD move.
Cheers
Trade closed: target reached
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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.