Examples of applying the ABCD pattern on the 5min chart of the GBP/JPY pair throughout the trading day (non-news). Sign up to receive market insights, trading tips, and invitations to FREE webinars: bit.ly
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Video Rating: 5 / 5
@FXSwissTrader I use the prior trend, or when it doubt check a higher timeframe. You can also apply the Elliott Wave count of “3 up, 2 down” to determine where you are within the sequence.
How do you determine if you should draw your retracement from top to bottom or from bottom to top? What indicator do you use to tell you whether you should plot your A to B as a downtrend or your A to B as an uptrend? Thank you.
@rockethead555 visit our website, click on Forum, then Strategies, and look for the Fibonacci thread at the very top… you’ll find all the Fibonacci formulas. Bottom line, it works… try it out on some charts and you’ll see. Where the levels come from is really secondary.
@fxKnight thanks for the response. Hey a quick question where does the 78.6% come from? I can’t figure out where you guys get it, doesn’t seem to result from a quotient. I know 50% is not a Fibo number either but used bec of convenience and practical reason. I’m trying to guess it comes from adding two previous fractions? 0.0557, 0.0902, 0.1458, 0.2359, 0.3818, 0.6177, 1.6180, 2.6180, 4.2360, 6.8541 I get all these from quotients . . .
@rockethead555 Visit our website, go in the free Forum, then in the Systems & Strategies section, and you’ll see an article at the very top about Fibs that will tell you step by step how to make the modification. All we’re doing is showing the Fibonacci retracements + extensions with a single mouse-click.
Hello knight, nice Video. However, I can’t figure out how you get the fibo scale above 100%, that is I see it start from 0% going up then when you establish point C, you say it goes to 161.8% which is below zero. Im using MT4 but cant’t get that scale, my scale keeps going up starting from zero but nothing below zero. Am I supposed to use 2 scales ? appreciate the help, Thanks
@MYNEWMOKE You’re trying to “anticipate” point C – you actually DON’T know for sure until after it happens (that’s the very definition of a reversal). No need to catch the perfect top & bottom… the SAFE pips are in the middle!
mr knight.. great, great vid. ive watched it over and over again and each time i find something new in the video.but i do have a quick question.i can see how you find your points A and B.. but what im finding difficult is how do you confirm that point C will stick. Do you look for a certain candle to form at point C or do you look for the price to cross a moving average. Whats your particular confirmation. Very eager to read your response. thank you again for an A+ video.. Cheers..
@beermn45 You’ll find plenty of free videos & webinars on our website, mate.
@TheDebtCollectorss How about trying it and THEN judging it? 
@750nutcase One man’s “crap” is another man’s money machine. If you’ve found a system that works for you, GREAT – I wish you healthy & steady profits. But you can’t really call another system “crap” unless you’ve spent some time using it. There are MANY ways to make money in the markets – this is but one of them.
@digitalsoul18 Not true at all… all videos were based on actual trades taken. Filmed after the fact, sure, my camera doesn’t have a “film the future” button. But we spend each and every day looking at LIVE trades in our Pro room!
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@GusBariga thank you
@johnosandra supply and demand analysis requires basis understandin of how and why prices move in any and all free markets. for example, the only reason why prices can drop from resistance is because supply exceeds demand. well the origin of that drop in price is where all the real supply is at so once price comes back to that level, ask urself who is buying there? that person is buying into resistance and buying after rise in price, i personally would take the other side of that trade and short
@johnosandra to which question, sir? I recommend contacting support at fxKnight dot c o m so we can get you answered in detail. Cheers.
@fxKnight could you please convey that answer again with more content
@GusBariga please define proper supply and demand anaylsis
key points and catch 22s
if you where so noble to reply to this comment then for that i thank you
forex fibonacci
get me lily from letters and numbers
Money has no standard of cost. Shares have no cost standard in money.
How it is possible to measure company cost if there is no standard of cost of labor?
It is necessary to measure money in joules or calories.
@fxKnight Great reply. Very humble approach to such a comment.
12:50 - press return
I think the first rule in making a particular transaction being strategy.I think our emotions and our logic is impossible without a strategy to stand in the face of
At the very least the case for me.Everyone must create its own strategy, or the rules .
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What are your particular offer while intra-day trading strategies?
This video is so true, thanks for the information.
I wrote it down and I don’t have so many of things necessary for trading.
No business plan.
LOL.
should take it a bit more seriously.
Thanks for liking this video. I put in a few of the major strategy for trade management and business strategy. If you have these written out you are ahead of 98 % of traders.
Do it or Don’t do it.
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