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
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
