FullTimeTrader
Long

XAGUSD. AB=CD retracement + trendline support

FX:XAGUSD   Silver/U.S. Dollar
1228 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.
IanMFX
a year ago
Nice catch. And a hit on bullish trenline too.
Reply
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
regards
Reply
FullTimeTrader Fxtoronto
a year ago
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

Regards.
+1 Reply
webmiztriz PRO FullTimeTrader
a year ago
do you expect the same for Gold then...? ;)
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FullTimeTrader webmiztriz
a year ago
Yes, the pullback on gold is not very clear now, i'm waiting for more price action
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nouman FullTimeTrader
a year ago
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
Reply
FullTimeTrader nouman
a year ago
Hello, in very simple words, a 5-wave impulse defines a trend. The market is fractal so in this case i think we have two nested 1-2. See chart below
snapshot
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webmiztriz PRO FullTimeTrader
a year ago
excellent... ;)
Reply
nouman FullTimeTrader
a year ago
wao sir i understand now in a trend mostly 5 waves and completed the trend thats very informative i think trading is your blessing thanks alot sir
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nouman nouman
a year ago
i also pick ur point sir in second pull up from trend line fibo level is also at its critical point for reversal
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tupaitrader
a year ago
great setup!!
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i have similar analysis! good job!
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BEAUTIFUL CALL .......................
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FullTimeTrader webmiztriz
a year ago
Thanks, hope you took this trade, we were talking about it before the rally, same with gold. Regards.
Reply
webmiztriz PRO FullTimeTrader
a year ago
yes & i know you were... I trade stocks only... this morning i also bought some uwti ... ;o)
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