The AB=CD pattern is easy to identify on charts and consists of 2 equivalent price legs. It has specific Fibonacci measurements of each point within its structure, eliminating room for flexible interpretation. The C point must retrace to either a 0.618 or 0.786 and the BC projection is either 1.27 or 1.618. When the BC projection and the AB=CD completion converge closely and define a small area, the chance of a reversal increases.
The first target would be the 382 retracement of AD and the second target the 618 retracement of AD. A common stop level is behind a structure level beyond the D point. Conservative traders may look for additional confirmation before entering a trade, for instance an aligning RSI value or a specific candlestick pointing at a reversal. TradingView has a smart ABCD Pattern drawing tool that allows users to visually identify this pattern on a chart. There are several variations, based on CD being an extension of AB such as the 1.27 AB=CD or the 1.618 AB=CD pattern.
AB=CD Is Completed.
Moving In Short Term Channel.
At Resistance Of Channel.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
Intraday : Short Opportunity
Trade for D leg , level mentioned you can enter at CMP and TP at Entry mentioned for reverse Entry
Positional Or Intraday
Enter at Level Mentioned with Green bar and TP at Blue bar or Pink bar with Level Mentioned as TP1 and TP2
Disclaimer : Not an Investment advice
Note : Level is been used with Pivot points
i personally do not trade in such companies but its just when i came across the charts , i thought its a good chance to get easy 3/5% intraday trade ! , dual bottom followed with an rsi divergence ...
Last trade was successful!!
There is again chance for the re-entry to TP3 target
Note: Look for the Pink Color only(Reentry defined in Pink colors along with SLs)
Disclaimer : Not an Investment advice.
If you see gap up or gap down opening (Very high probablity that i could open with gap) then leave the trade do not enter then.
Look for the Related Idea , i ...
ABCD pattern creation in Exide industries.
Go Short at current level with TG 1 and TG2 mentioned in chart.
Follow strict SL here.
All Level mentioned in the chart.
Also Cypther pattern in preparation , will update once it is completed.
Nicely Moving in Upward Channel.
Potential AB=CD is in Progress within Channel.
Other Details Mentioned in Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
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