CeoCodes

GBPJPY πŸ€“ Old Skool Charting ABCD

OANDA:GBPJPY   British Pound / Japanese Yen
πŸ‘€ LEARNING ABCD
ABCD pattern is as old as end of day data received your fax machine at the market close.
To spot this chart pattern, all you need is to be a little observant & use of the Fibonacci chart tool.

✍🏼 CHARTING THE LINES
AB and CD are known as the legs while
BC is the correction.

If you use the Fibonacci retracement tool on leg AB, the retracement BC should reach until the 0.618 level. Next, the line CD should be the 1.272 Fibonacci extension of BC .

πŸ€“ FOR THE NERDS
The length of line AB should be equal to the length of line CD.
The time it takes for the price to go from A to B should be equal to the time it takes for the price to move from C to D.

... to be continued in the comments
Comment: πŸ“‰ CHARTING THE TRADE
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Not Investment Advice, Trade at your own risk.

Comments

I need 5 point to post in the underground. How do I do that?
+2 Reply
@srhFX, try commenting on some charts you like
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can you do a real chart for the widow maker
+1 Reply
@mdadFX, bonds?
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Do Iron Condor bro πŸ¦…
+1 Reply
CeoCodes PeoDude
@PeoDude, you trading options now?
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Is this analysis that gj is actually short or your just posting technicals?
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oh yeah πŸ€“
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πŸ˜πŸ‘πŸ»
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