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XAUUSD - ABCD Pattern
Gold Spot / U.S. Dollar
Education
XAUUSD - ABCD Pattern
By lyl89
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Updated
Mar 22, 2018
1
2
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2
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Mar 19, 2018
How to trade the ABCD pattern
This is an example of a bullish ABCD pattern.
Ideally, Point C should be Fibonacci retracement between 61.8% to 78.6% of the A-B leg.
Point D should be a Fibonacci extension between 127% to 161.8% of the B-C leg.
Stop loss should be below D or previous low.
Take profit can be at the 38.2% and 61.8% Fibonacci retracement of the C-D leg.
Mar 20, 2018
Trade closed: target reached
TP1 hit.
Mar 20, 2018
Trade closed manually
Those who are still holding on to TP2 do manage your trade, I have decided not to wait and closed the trade.
Mar 22, 2018
Comment
Congrats for those who held on to TP2.
Weaker USD has impacted Gold positively.
AB=CD
Bullish AB=CD
Fibonacci
Gold
Harmonic Patterns
Technical Analysis
tradingsetup
XAUUSD
xauusdlong
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