My attempt to use and understand structure analysis and market harmony with simple ABCD pattern worked.
Trade closed successfully.
During the trade I made entry at 38%, 50% retracement of AB line.
However price made a deeper correction to 87%.
Initially I drew my CD line from 50% retracement which gave target of 9700.
But later adjusted it match the 87%, which reduced the target to 9630 range.
I also tried to use GANN FAN to predict time.
The FAN drawn on AB line gave target time around 10:30 AM IST today.
But due to deeper correction it came below the 1/8 line. Eventually it met the target using the 8/1 line as base, instead of 4/1 line.
I will repeat more trades and try to see how the simple AB-CD works for me.
Trade closed successfully.
During the trade I made entry at 38%, 50% retracement of AB line.
However price made a deeper correction to 87%.
Initially I drew my CD line from 50% retracement which gave target of 9700.
But later adjusted it match the 87%, which reduced the target to 9630 range.
I also tried to use GANN FAN to predict time.
The FAN drawn on AB line gave target time around 10:30 AM IST today.
But due to deeper correction it came below the 1/8 line. Eventually it met the target using the 8/1 line as base, instead of 4/1 line.
I will repeat more trades and try to see how the simple AB-CD works for me.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.