Triantus Shango
Sergeant Major
- Messages
- 1,371
pragmatic,
i don't understand your question. why wouldn't anyone not use the most recent ABCD?
i guess most recent depends on the TF under consideration, so if you start with M1 and up, you will get many ABCD patterns. not all of which will be valid.
my understanding is that the key is to consider the immediate context, meaning on H1 for example, the past couple days or so, and look for significant inter-relationships between any harmonic patterns, ABCDs, and fib levels and other RSST/SPPT levels.
and if currently price is approaching a key level identified on a longer TF, then of course that needs to be taken into account, even if trading intraday. if not trading intraday, then weekly and monthly and daily, sure. otherwise, i'd say drop your time frame.
i don't understand your question. why wouldn't anyone not use the most recent ABCD?
i guess most recent depends on the TF under consideration, so if you start with M1 and up, you will get many ABCD patterns. not all of which will be valid.
my understanding is that the key is to consider the immediate context, meaning on H1 for example, the past couple days or so, and look for significant inter-relationships between any harmonic patterns, ABCDs, and fib levels and other RSST/SPPT levels.
and if currently price is approaching a key level identified on a longer TF, then of course that needs to be taken into account, even if trading intraday. if not trading intraday, then weekly and monthly and daily, sure. otherwise, i'd say drop your time frame.
Hello Sive!
I perfectly understand your view and I might say it is a delight to see you at work. I am wondering if I will ever come close to your expertise. So, why do you use the most recent ABC to appoint the target? Is this something like a rule or it is just your view, based on your feeling (talent)? I am asking this because I always use the target based on the initial ABC.
Thank you!
P.S. I hope my software is wrong!!!