Trade has not triggered yet! The setup is not very much conservative as the ratios are quite wild!
XB = As long as it is less than .618 we are fine but we prefer it to be .382 to .500.
BD = As long as it is more than 1.618 we are fine but we prefer it to be 1.618 to 2.618. This is not much that important.
AB=CD pattern is usually extended. We shall talk about this in the example.
XD = 0.886.
AC = Range between 0.382 and 0.886
The first target would be the 382 retracement of AD and the second target the 618 retracement of AD.
A common stop level would be behind the X-point. Conservative traders may look for additional confirmation.
XB = As long as it is less than .618 we are fine but we prefer it to be .382 to .500.
BD = As long as it is more than 1.618 we are fine but we prefer it to be 1.618 to 2.618. This is not much that important.
AB=CD pattern is usually extended. We shall talk about this in the example.
XD = 0.886.
AC = Range between 0.382 and 0.886
The first target would be the 382 retracement of AD and the second target the 618 retracement of AD.
A common stop level would be behind the X-point. Conservative traders may look for additional confirmation.
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Our community is full with traders who actually trade!
Telegram: t.me/unofficed