XAGUSD. AB=CD retracement + trendline support

FX:XAGUSD   Silver / U.S. Dollar
1230 15 21
Perfect pullback to the 0.61 fib retracement and trendline support.
We have also an AB=CD pattern.
From the EW point of view this is a series of 1-2s
Best regards.
BEAUTIFUL CALL .......................
FullTimeTrader webmiztriz
Thanks, hope you took this trade, we were talking about it before the rally, same with gold. Regards.
webmiztriz FullTimeTrader
yes & i know you were... I trade stocks only... this morning i also bought some uwti ... ;o)
i have similar analysis! good job!
great setup!!
how much is the success rate of trading the cd leg of an abcd. i am aware that it depends on different variables but in general how much would you say their success rate is
Hello, i dont have that statistics. when entering a trade i prefer to have a confluence of reasons, not only the AB=CD. The other reason are:
-- according to my EW count this is a series of 1-2s, so i expect a strong rally from there. The chart is simplified.
- Bouncing on trendline
- 0.61 fib retracement

+1 Reply
webmiztriz FullTimeTrader
do you expect the same for Gold then...? ;)
FullTimeTrader webmiztriz
Yes, the pullback on gold is not very clear now, i'm waiting for more price action
nouman FullTimeTrader
sir i really appreciate you accuracy and your analysis is absolutely accurate and house run for us but i need your further explanation regarding your first point statement "according to my EW count this is a series of 1-2s, so i expect a strong rally from them" kindly elaborate how you deal with in your charts thanks alot sir
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