3 Alt 1.618 ABCD Patterns Converge = Dynamite

FX:AUDNZD   Australian Dollar / New Zealand Dollar
269 16
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.........
THE REAL DEAL HOLYFIELD abcd tool, take a peep people
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.......
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.
Technician DonkeyTrades
These are exactly the same rules i mentioned.
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.
Technician DonkeyTrades
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.
Technician Technician
These are the rules for ABCD patterns
fact that not many i meant
Technician DonkeyTrades
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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