Get Free Forex Trading Signals By Simple Abc Correction

Discussion in 'Stock Market Forum' started by frees2020, Dec 8, 2018.

  1. frees2020

    frees2020 Active Member

    Sep 2018
    Likes Received:
    get free forex trading signals by Simple ABC Correction

    What should you look for when searching for measured moves?
    Here’s a list
    • Measured moves act as reversals of the prevailing price trend. For
    MMUs, look for a downtrend before the chart pattern begins.
    For measured move down , look for an uptrend preceding the pattern.

    • The first leg should be a straight-line run with little curve to it.

    • The corrective phase should be proportional to the first leg. Prices
    usually retrace 40% to 60% of the first leg move. Be suspect of
    larger retraces. Pair large first legs with large retraces; small first
    legs with small retraces. Avoid patterns that look like horizontal
    saw teeth—the retrace has gone too far.

    • The second leg should approximate the slope of the first leg, but allow variation.

    • Volume trends downward throughout the pattern.

    Simple ABC Correction Trading Tips and free forex signals

    Draw a trendline from A to C and extend it downward. When
    price closes above the trendline, buy.

    • For more aggressive traders, draw a trendline down from C and
    buy when price closes above it (see the dashed line in the figure).
    Also, a close above the intraday high at valley B works.

    • For more conservative investors, a close above C or even A is the
    buy signal.

    • Buy only if the market and industry are both trending upward, so
    the stock can make the most of upward momentum.

    • Be prepared for price to reverse at A—36% do, and prices drop,
    confirming a double top.

    The larger the corrective phase retrace, the better the chance of
    meeting the price target

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