FX:AUDNZD   Australian Dollar/New Zealand Dollar
10 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))
10 months ago
Comment: Make sure your B-point candle close doesn't touch 0,618XA. It is 0,616XA with my broker))
10 months ago
Trade closed: target reached: Both targets reached)
10 months ago
Hey Thank you!
Could you do some explanation for this pattern?
Alexander_Nikitin TOP yossih
10 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))
10 months ago
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