Akil_Stokes
Long

EURJPY: Potential AB=CD Pattern Completion

FX:EURJPY   Euro Fx/Japanese Yen
Happy Friday traders! Here on the hourly time frame the EURJPY             is providing us with a goo example of what could end up being an AB=CD pattern. This was one of the first simple patterns that I learned to trade, and I also learned the hard way that trying to take every single one would land me in the poor house.

Although i don't trade it on it's own, I routinely use it as part of my analysis when looking for areas of potential reversal and/or projecting future extensions.

Good post Akil, also keeping an eye on the same setup :)
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Akil_Stokes PRO StarProsper
Nice, hopefully you'll get what you need before calling it a weekend. I know it's late over on your side of town
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snapshot
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Thanks for sharing your idea
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Potential Gartley at 114.24?
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Not for me
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Kareem Akil_Stokes
I don't think i have got the fibs wrong or have I? Is it a valid pattern according to the correct fibs but there is another reason it isn't for you?
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it doesn't meet my fibonacci requirements. We may not require the same thing however so please don't pass up on a valid pattern formation simply because It's not something that works for me
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Kareem Akil_Stokes
Sorry Akil just slightly confused as i learned the fibs from Tradeempowered and cant see where i am going wrong. The XA leg (@113.93) retracement must touch the 618 but not touch the 786, ab leg cant touch the 886 is that correct?
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Does your "C" leg retrace deep enough to meet the requirements?
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Kareem Akil_Stokes
My bad just had a quick look again at the video Charles put about a few backs must touch the 618, i always thought it was only the 382. Do you mind me asking if it is the same for the Bat? Thanks for helping to clarify all this Akil.
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No problem and no the advanced Bat & Gartley are 2 different pattern formations with different rules
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Your analysis gives me day after day a better understanding of the process going on in the market. Very helpful tip today specially to add it to my new repertory in order to keep building my new foundations for trading. Thank you Akil.
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Thank you so much for the great comment!
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Nice one Coach! ;-) ***
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Akil_Stokes PRO JohnHollingdale
Thank you
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Akil_Stokes PRO SumathiDenward
Nice, thanks for sharing
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SumathiDenward Akil_Stokes
ur welcome anil
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Akil_Stokes PRO SumathiDenward
It's Akil
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SumathiDenward Akil_Stokes
sorry akil my bad ..
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Sl-Tp?
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Akil_Stokes PRO SinanTontas
I used structure to gauge both my stops & targets
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Awesome! I've been stalking this for a bit. Already in the GBP Bat. Good luck!
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Nice! I'm in as well. Hopefully it works out for us
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What are the areas that you typically look for profits in an ABCD formation?
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Akil_Stokes PRO ShaharyarZafar
I like to use structure for my profit taking, a secondary option would be fibonacci
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Wouldn't this be a breakdown of elliot wave 5 also?
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I'm sure it could be to some. That's the thing about wave counts, if you ask 10 people that same question you're very likely to get 10 different answers. So i would trust what you see.
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Akil, there is a stunningly apparent reversal pattern that you may have already noticed and it is mathematical. I can show you a chart. But I think that maybe you might not like it? From your replies here, you may not be into Measured Moves or simply do this: use this formula A-B/2 and then add that result to the B Price point, and the reversal is very close to the C price point. The D price point is the FIB over-shoot, around the 123.6 or 161.8 (I do not have a calculator with me). This is my first visit here. I use these reversal patterns and AB=CD in my setups, so I really like your chart here.
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Thank you Don. I certainly use measured moves in my analysis however probably a little differently then what you're referring to seeing how math isn't my strong suit. I appreciate the comment and sharing a strategy here on tradingview that has found you success. Hopefully others read it as well.
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