This is the practical application of Bulkowski's AB = CD bullish pattern on #DVN #DevonEnergy. The ABCD pattern is identified by Fib retracement and extension shown in chart.
Now we can trade based on probability of price reaching to
A ($64) = 40% chance
B ($52) = 83% chance
C ($57) = 47% chance
Current price is $46.27. Betting on $52 point B is almost a sure bet with 83% chance! Let's see if I make money!
Not many people talk about this pattern. I will be using it in actual trading! How exciting?
Now we can trade based on probability of price reaching to
A ($64) = 40% chance
B ($52) = 83% chance
C ($57) = 47% chance
Current price is $46.27. Betting on $52 point B is almost a sure bet with 83% chance! Let's see if I make money!
Not many people talk about this pattern. I will be using it in actual trading! How exciting?
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.