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LewisGlasgow
Apr 25, 2017 2:43 PM

NZD/USD - Bullish AB=CD Long

OANDA:NZDUSD60
NZD/USDOANDA

Description

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What's up everyone, here we have NZD/USD with a bullish AB=CD pattern on the 1h chart.

The measurements for a valid AB=CD pattern are detailed below.
C: 0.618 - 0.786
D: 1.272 - 1.618

Excellent trading opportunity with over 1:3 risk to reward.

The D point forms at a key support level in the market which indicates a reversal at this level rather than a D point of 1.618.

A to B time completion is expected to be as similar to C to D as possible with around 22 days and 389 price bars.

Feel free to connect with me on social media :)
lewisglasgowlewglasgowsixfigurecapitalsix000AB=CDBullish AB=CD
Comments
Fairuzzabadiy
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The price gets into action, it bounces from D. is this mean reversing?
LewisGlasgow
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@Fairuzzabadiy, not always, it dropped way too quick, we may see further declines.
davidoff
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is trade active ?
LewisGlasgow
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@davidoff, price dropped way too heavy, the structure is off.
datura
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Great setup! Monitoring!
LewisGlasgow
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@datura, thank you!
petery
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Love your work Lewis. A question: Once a pair reaches the completion point do you use additional criteria which have to be met such as price action on lower time frames, pin bars, engulfing candles etc
LewisGlasgow
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@petery, I appreciate that thank you! Yes I will look for other confirmations before taking a trade, even if a pattern completes it does not mean I will trade it :) good to see a trader who understands the process.
Salremeithy
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Nice Set up... i wont miss this opportunity :)
LewisGlasgow
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@Salremeithy, thank you!
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