FX:AUDNZD   Australian Dollar/New Zealand Dollar
6 months ago
Hello, mates. It is an example of trades we found today in my live trading room. As usual enter at 78,6 stops at X, targets are 38,2 and 61,8. Hope, you will like it))
6 months ago
Comment: Make sure your B-point candle close doesn't touch 0,618XA. It is 0,616XA with my broker))
6 months ago
Trade closed: target reached: Both targets reached)
This pattern was found with Pattern Search Software (c)
Watch the sample video here: https://youtu.be/kK6QfJuCGwg
Contact me in PM if you wish to get your copy
Best regards, Alexander Nikitin.
Fulltime professional trader and programmer.
yossih
6 months ago
Hey Thank you!
Could you do some explanation for this pattern?
Reply
Alexander_Nikitin TOP yossih
6 months ago
To explain the way I am trading it will take me hours! Breifly, It is and XABCD pattern. XA and BC are usually impulses separated by AB correction. This correction should be minimum 0.382XA and it should not have a candle close at or beyond 0.618XA. DC impulse should be at least 1.272XA and it should never have a candle close at or beyond 1.414XA. If these critiria is met then we look at D-point completion which is 0.786XC. D-point should exceed B point at least by one pip. If it fails then the pattern will be invalidated.
To trade this pattern you need to place a limit order at D-point. Stop loss is X-point, targets are 0.382CD and 0.618CD. Usually we close half of position at 0.382CD and breakeven the remaining half. But I personally close all at 0.382CD.
As you see all the calculations are very connected to XA leg. If you can identify it then the rest is simple. To know how to identify XA leg you need to know how to read the market structure. If you want to know more about my trading aproach then contact me in Private Messages))
Reply
KVE PRO
6 months ago
Great!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out