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11021992
Feb 14, 2017 5:55 PM

NZDUSD: BC = DE pattern? 

New Zealand Dollar/U.S. DollarFXCM

Description

Hi traders,

On this NZDUSD we have an initial ABC movement which I have marked in red. Then I copied the whole move, which makes a point D. In other words, a 100% AB=CD pattern. Both time wise and price wise. Now I want to see if we can also duplicate of the retracement (the BC move) and create point E. This point happens to be at the 50% retracement of the AD move.

Cheers

Trade closed: target reached

Comments
hisyam
will NZDUSD continue downtrend like AB & CD?
11021992
@hisyam, I think it went up :P
Tarekkhal
just perfect :)
11021992
@Tarekkhal, Thanks!
Jovescastoir
right on the money! Great analysis and perfect hit. keep up the good work!
11021992
@Jovescastoir, Cheers! Appreciate it.
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