Potential AB=CD

TVC:NDX   NASDAQ 100 Index
130 2
Warnings: Market is in a strong uptrend, could potentially reach 616 then retrace down or continue the trend
Validity: AB leg and CD leg show signs of symmetry, 414 extension

  • Look for wide range bars completing the D leg (could extend past .782) of the cypher
  • Market has been in a strong uptrend (keep contract size small)
  • If your trading using nadex as broker be aware of the time the pattern forms you want to have enough time to reach targets

Trade 1 - Aggressive traders enter at 414 extension of AB leg
Trade 2 - Conservative traders wait to enter at 616 extension of AB leg
Trade active: Entered at 414
Comment: Just noticed my short positions where placed a bit bellow 414
Stop loss is at 6407
First take profit for the 414 trade is at 6362.7
Second take profit for the 414 trade is at 6351.4
Comment: Stop reached for trade 1
Comment: Reached to the 1.618 of the AB=CD pattern then price action retraced down
@purplex What is the 616 extension? What's the value of NDX corresponding to the 616 extension? Thanks!
purplex Teich50
@Teich50, Fib ratios I use to find patters / entry / exit point. Message me if you would like some more info
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