Lane_S 7 Posted June 27, 2019 Bear with me, I am a newbie. Looking at FB today, would this price action be considered a reverse ABCD, or was that maybe some VWAP false breakouts? Or was it nothing at all? Thanks, Lane Share this post Link to post Share on other sites
Lane_S 7 Posted June 27, 2019 I apologize, this should have gone in the "basics"... Lane Share this post Link to post Share on other sites
Aiman 86 Posted June 28, 2019 You can't tell only by looking into 1 time frame, with no volume candles. Anyway, It's just a stock moving in waves)) Share this post Link to post Share on other sites
JD 49 Posted June 28, 2019 That screenshot of FB looks like a lot of chop or the price is just stuck trading in a range. I saw this reverse ABCD pattern on INTC today that I saved to my playbook. There was a nice drop followed by small white candles that pulled back to the 9 EMA then another nice drop on heavy volume when the stock made a new 5 minute low. Here's a good video explanation by Robert. Share this post Link to post Share on other sites
BBT Member 001 27 Posted June 28, 2019 So it could be an ABCD because it is downtrending but the move is so slow it is just chopping out, the consolidating candles are almost reaching possible entry point so you would get stopped out most of times. Maybe i'm wrong but when i see this pattern it reminds me of stocks that have a slow tape and just algos trading it with blanket orders wiping everyone out on the long and the short. Share this post Link to post Share on other sites
Lane_S 7 Posted June 28, 2019 Thanks guys. I'm new and green as Irish grass. Right now I am just trying to absorb market basics, patterns, strategies and the mechanics of DAS. But wow, what a great resource this is! I'll stay in the background reading posts, watching video, following price action and watching traders trade until I have more of a clue. I hope to start some sim trading in a month or so... -Lane- Share this post Link to post Share on other sites
