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Daytrading the ABCD Fibonacci Pattern (Forex Trading)
Examples of applying the ABCD pattern on the 5min chart of the GBP/JPY pair throughout the trading day (non-news).
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#6 written by GusBariga 1 year ago
When i started trading 3months ago, i thought your video was cool but now it seems so lame. I really doubt if you are a consistently profitable trader. trading isn’t only about the fibonacci. fibonacci is secundary at best and must be used in the right way. which is in accordance with proper supply and demand anaylsis. The reason price fell is not because you measured it with your fibo. Its because their was more supply at that level than demand. ppl go read ur economics 101 from highschool
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#7 written by fxKnight 1 year ago
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#8 written by GusBariga 1 year ago
that is because you cant see the order flow but why would you need to. Why does price move from one level to another? supply and demand from big institutions. At those levels where price screams away tells us that there is more of one and less of the other. i personally dont look at red and green candles but what is happening behind those candles.
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#14 written by astrov83 1 year ago
Hi,
ABCD, looks and sounds good, but I find point C a bit weak!
On the video, of course its easy to show where point C and therefore fib levels were, but on the spot, you dont know if price will retrace till 38, 50 or 61%! You might enter at 38 and then see price going all the way to 61 or even further to jeopardize the trade.
Im just saying that by the time C is confirmed, it is already too late!
Wish I was wrong! -
#16 written by Shleeshtak 1 year ago
Nice vid I used 1.618 as target all the time, with super tight stop above or below the A by 1 pip LOL
I’ve been using the ABCD’s for years and works well on 5 min charts, however as I see on your system you use several other indicators to determine direction, not typical of an ABCD which I do as well.
What is the main indicator you use to determine an A
I was looking for something that would keep me out of false AB’s
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#20 written by i0am0a0daytrader 1 year ago
check my channel for video’s about daytrading and trade like me in forex (EUR/USD, CAD/JPY etc.), stocks (coca-cola, phillips etc.), commodities (gold, silver, oil etc.) and indices (Nasdaq, Nikkei etc.) and make money with trading!
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#22 written by kosai19 1 year ago
For those interested the ABCD pattern was made famous by Larry Pesavento in his book “Fibonacci Ratios with Pattern Recognition.” There’s a lot more theory and specifics to using and identifying the pattern than what’s presented here.
Also, “geometric price patterns” like these were also well researched by Gartley (Gartley Patterns).
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Hi black knight…i thank you so much for your videos..i sis subscribe and will watch all your videos..ive been demo trading for 6 months and will be going live with 1000$.Ive brought several 1000$ accounts to 30004 in 1 week and a 5000$ to 20,000$ in 68 days..but i will practice this fabonacci..thanks..one day i hope to make videos too..i beleive money can be made in forex..what broker do you use..so many and not all good,,peace