DonkeyTrades
Short

3 Alt 1.618 ABCD Patterns Converge = Dynamite

FX:AUDNZD   Australian Dollar/New Zealand Dollar
263 16 1
3 Alt 1.618 ABCD Patterns Converge = Dynamite
I Always set my TAKE PROFIT at the min profit on these trade ideas. OF COURSE YOU COULD TAKE THEM FURTHER THAN THAT. Many different trade management strategies could be used. Do i stick to the min PROFIT TARGET on my personal trades, mostly not!!!!!!! BAMM Trades Should Be Traded No Further Than The Completion Point Of The Pattern In Question.........
Hello there, May I know why the ABCD tool sucks?
Reply
DonkeyTrades
2 years ago
It measures with fib number rather than equal 1.27 and 1.618 increaments. Because I dont know the fib numbers fir the 1.27 or 1.618 it nakes it very difficult
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Technician TOP DonkeyTrades
2 years ago
I am not sure what do you mean, but the ABCD pattern depends on fib corrections to spot point B , then fib extensions to spot point D, and this is exactly what the ABCD tool does.
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barryam PRO Technician
2 years ago
The tool measures the BC retracement leg correctly (same result as Fib Retrace tool) but does not appear to measure the CD extension correctly (differs from Trend Based Fib Extension tool result). For example see
snapshot
where tool measures CD as equal to 1.562 of the BC leg while the pivot is still above the 1.000 extension of the AB leg from point C as shown correctly by the Trend Based Fib Extension tool.
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Technician TOP barryam
2 years ago
Thanks Barryam, actually what ur reffering to is the expansion not the extension.
The ABCD tool is working the correct way and in the way it should. Please check image

snapshot
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DonkeyTrades
2 years ago
The tool can be used to measure abcd, and alt abcd patterns. Only if you know the bc fib numbers for the patterns. It is actually a difficult tool to use. Fact that many abcd patterns are posted as ideas is proof of it. A good abcd tool will make the abcd and alt 1.27 and alt 1.618, clear and easy to read the locations.
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DonkeyTrades
2 years ago
fact that not many i meant
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Technician TOP DonkeyTrades
2 years ago
You can use the use multiple times each above the other to plot the alternate scenarios. Anyway, thanks for your input it will be taken into consideration in the coming developments.
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DonkeyTrades
2 years ago
im not exactly sure why bc fib numbers ever came in to play in measuring an abcd or alt abcd pattern. what is important in these patterns are the ab and cd legs not the bc legs. look at this picture. it is an alt 1.618 abcd, it shows clearly the completion point, a point that has nothing to do with a bc leg. leg cd is 1.618 the size of leg ab. now this is a real abcd tool.
http://postimg.org/image/ne5a9dynz/
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Technician TOP DonkeyTrades
2 years ago
ctually the BC leg is the most important leg of the pattern, because for example, if the bc leg corrects 61.8% of AB then the CD leg projection would be at 1.618. On the other hand, if BC corrects 78.6 then the CD leg is projection is at 1.27 extension.
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Technician TOP Technician
2 years ago
These are the rules for ABCD patterns
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DonkeyTrades
2 years ago
the rules of an abcd pattern are as follows: the cd leg is equal to the size of the ab leg. the rules of an alt 1.27 abcd is as follows: the cd leg is 1.27 the size of the ab leg. the rules for an alt 1.618 are as follows: the cd leg is 1.618 the size of the ab leg. THE BC LEG IS NOT IMPORTANT, THESE ARE ABCD PATTERNS WERE TALKING ABOUT NOT BC PATTERNS. im not doubting your measurements in the following statement are incorrect, "if the bc leg corrects 61.8% of AB then the CD leg projection would be at 1.618". i am only arguing the usefulness of the tool for calculating abcd and alt abcd patterns. sure if a person gots a perfect 0.618 retracement of the ab leg, then it would be easy to calculate the c projection. honestly it most situation the tool is about as useful as a headache.
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Technician TOP DonkeyTrades
2 years ago
These are exactly the same rules i mentioned.
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DonkeyTrades
2 years ago
http://postimg.org/image/ne5a9dynz/
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DonkeyTrades
2 years ago
also i am not here to debate what you consider to be a valid abcd based upon the ab retracement. i think the retracement of the ab leg has no bearing. so do alot of people as well.......
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DonkeyTrades
2 years ago
THE REAL DEAL HOLYFIELD abcd tool, take a peep people http://postimg.org/image/ne5a9dynz/
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