My attempt to use and understand structure analysis and market harmony with simple ABCD pattern worked.
Trade closed successfully.
During the trade I made entry at 38%, 50% retracement of AB line.
However price made a deeper correction to 87%.
Initially I drew my CD line from 50% retracement which gave target of 9700.
But later adjusted it match the 87%, which reduced the target to 9630 range.
I also tried to use GANN FAN to predict time.
The FAN drawn on AB line gave target time around 10:30 AM IST today.
But due to deeper correction it came below the 1/8 line. Eventually it met the target using the 8/1 line as base, instead of 4/1 line.
I will repeat more trades and try to see how the simple AB-CD works for me.
Trade closed successfully.
During the trade I made entry at 38%, 50% retracement of AB line.
However price made a deeper correction to 87%.
Initially I drew my CD line from 50% retracement which gave target of 9700.
But later adjusted it match the 87%, which reduced the target to 9630 range.
I also tried to use GANN FAN to predict time.
The FAN drawn on AB line gave target time around 10:30 AM IST today.
But due to deeper correction it came below the 1/8 line. Eventually it met the target using the 8/1 line as base, instead of 4/1 line.
I will repeat more trades and try to see how the simple AB-CD works for me.
