littlereddot wrote:Thanks for sharing Nick. I tried to follow the original CJ post but never quite acquired the ability to see the abc pattern. How do you tell when the "a" is formed?
Hello,
I want to encourage you to read the thread of CJ over and over. Most of the people don't know that there is much more to know as you see at first glance. He's not telling you one strategy or one system. He's telling you a way how to see the chart in a different way. You should see it as a toolbox to create your own system. That said... I will answer this question in different ways, because everyone has his own approach.
Dudest would say that it is a matter of symmetry, Fib-Level and the bigger picture. Symmetry because the a and the c are overall in the price range and have a similar ranging in between. Fib level cause a and c touching 61,8 til 73,6. The bigger picture means counting Level/pushes and only trading at the top or at the bottom.
Search for his posts at the original thread. Much to learn...
That said, the key elements are for me the picture of the pattern, CJ would call it the face. At some point, if you traded the way like CJ did, you start to see patterns that look familiar. If you look at tick charts, they are way more accurate ( little hint
).
A little example. Look how the price moves, a bit curved. Look at the wicks! This tiny little wicks, which are looking like they are not there.
cT_cs_1135851_AUDUSD_2020-09-05_12-19-32.png
Another face of the abc:
cT_cs_1135851_NZDCAD_2020-09-05_12-32-59.png
Look at this big bars, which look like little "random news spikes". See how a and c rejecting at the same price.
Higher TF:
cT_cs_1135851_GBPNZD_2020-09-05_12-41-19.png
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Sure, random chart posts. Nothing new to telegram groups
BUT! Here is how to enter this abc's, remember I'm not the master!
-Count the levels in m15, h1, h4
-Only enter at c if you are not confident in your level count, like me
-Wait till the price rejects and forms complete the pattern and then enter, place the sl a bit below/above c
-Look at this god damn wicks to be sure
-c should be symmetric to a
This rules should be provide the highest amount of success and a good R:R
Special moves:
Remember my invention, the gap-abc where we see a big spike which forms the b.
CJ has a special abc pattern too, look at his original thread. It looks like a butterfly
I wrote a plenty amount of text. My idea was to post my ideas how to enter like sympathy but this will be posted in the future.
Have a nice weekend,
Nick :hi:
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