ABCD Fibo | Forex indicator download- MT4/MT5 resources- MetaTrader 5 resources
Let’s have some fun with ABCD Fibonacci
Element
M15 chart, you can see the candles are not very thin nor bold
The advantage of the M15 chart is that you can see at least two days of trading, which is very important for our setup
70 EMA close on M15 chart
Fib from MT4
You go from A to B for a long trade, from B to C for a short trade, and from C to D for a long trade.
You will do the opposite, like a short circuit from A to B...
Okay, how do I spot these ABCD's in the M15 chart
Simple
In the case where it is long starting from A to B
Look at the left side of the chart and see if you have any previous experience with the previous day's low on the M15 chart if the answer is no. Use the current low as your A
Based on price action, you will go long from point A to point B
How do I know my B-spot has two signs
The candle breaks above the 70 EMA and starts to show weakness, wait for the candle to start moving below the 70 EMA
Use Fib to mark it as the highest point B
The journey from B to C will be your short film
If the pair turns bullish, it will fall to the 31.8 or 50 fib levels, or it may fall below the 61.8 to 71.6 fib levels
But at no time should it go above point A, and if it's not below point A, then that's point C.
Once C is established, your journey will extend from C to D fib
124 etc.
If you move from C to D for a longer time, the stop loss mark is point A (the lowest point of the candle)
The short term stop loss from B to C can be the highest point of the candle you found in B
If you go long from A to B, I think use your judgment to cut your losses.
According to the rules, when you mark point B, you shouldn't have any other highs, but I'm diluting it a bit here by using EMA 70 and weakness.
The overall picture of the ABCD indicator is provided by the trading master. According to the FF rules, I cannot name it here.
But if you have time I will provide the whole itinerary
I have attached the EU diagram for further discussion
Element
M15 chart, you can see the candles are not very thin nor bold
The advantage of the M15 chart is that you can see at least two days of trading, which is very important for our setup
70 EMA close on M15 chart
Fib from MT4
You go from A to B for a long trade, from B to C for a short trade, and from C to D for a long trade.
You will do the opposite, like a short circuit from A to B...
Okay, how do I spot these ABCD's in the M15 chart
Simple
In the case where it is long starting from A to B
Look at the left side of the chart and see if you have any previous experience with the previous day's low on the M15 chart if the answer is no. Use the current low as your A
Based on price action, you will go long from point A to point B
How do I know my B-spot has two signs
The candle breaks above the 70 EMA and starts to show weakness, wait for the candle to start moving below the 70 EMA
Use Fib to mark it as the highest point B
The journey from B to C will be your short film
If the pair turns bullish, it will fall to the 31.8 or 50 fib levels, or it may fall below the 61.8 to 71.6 fib levels
But at no time should it go above point A, and if it's not below point A, then that's point C.
Once C is established, your journey will extend from C to D fib
124 etc.
If you move from C to D for a longer time, the stop loss mark is point A (the lowest point of the candle)
The short term stop loss from B to C can be the highest point of the candle you found in B
If you go long from A to B, I think use your judgment to cut your losses.
According to the rules, when you mark point B, you shouldn't have any other highs, but I'm diluting it a bit here by using EMA 70 and weakness.
The overall picture of the ABCD indicator is provided by the trading master. According to the FF rules, I cannot name it here.
But if you have time I will provide the whole itinerary
I have attached the EU diagram for further discussion
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