Potential ABCD "1.13" setup at Support area
This can be monitored for a further move down to
reach the 1.13 AC range within a anticipated Support
area. By dropping down to a lower time frame, one
can then look for a reversal type candle pattern (or
whatever method you use to anticipate a price reversal)
to trigger into the trade. I have shown the 3 target levels
based upon reaching the 1.13 AC. This would need to be
adjusted to reflect the ultimate low, where ever it comes in
(if within the 1.13-1.618 AC range).
reach the 1.13 AC range within a anticipated Support
area. By dropping down to a lower time frame, one
can then look for a reversal type candle pattern (or
whatever method you use to anticipate a price reversal)
to trigger into the trade. I have shown the 3 target levels
based upon reaching the 1.13 AC. This would need to be
adjusted to reflect the ultimate low, where ever it comes in
(if within the 1.13-1.618 AC range).
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.