Just one more example to show the power of the simple ABC pattern, re the previous blog post on the subject. 11% in less than half an hour and most of us in the Skype group managed to grab some very nice R:R from that setup.
In this trade, we just waited for price to get to the FE100 level, shown by the ABC123 indi and used ATM to trail when price got to the eWH TZ1 level; eventually doing a manual lock at 11R.
It's the simple stuff that works best :)
Following on from yesterday's blog post, here's an example of a simple ABC trade that some of us took in the Skype group. Risk 1 Reward 5 ... job done in less than an hour!
The simple ABC zigzag pattern is probably the easiest way to find a great risk-to-reward trade, by 'buying the dips and selling the rallies'.
As an example, every day in our Skype group, since early April, we've been looking for DAX to make its way to the ABC FE100 level, with the top of that momentum gap providing terrific confluence. Here's the chart posted in early April ... you can see for yourself, on your own charts, where price has just got to :)
I've made a YouTube video with some examples of the pattern, showing how to identify them; explaining their specifications and how you can use the features of eWavesHarmonics plus the ABC123 indi to make trading them as simple as the pattern itself. Apart from recent ABC patterns found on GBPUSD and EURUSD, there is a 'trade of your life' example with Bitcoin.
Hope you enjoy it ...