This is the practical application of Bulkowski's AB = CD bullish pattern on #DVN #DevonEnergy. The ABCD pattern is identified by Fib retracement and extension shown in chart.
Now we can trade based on probability of price reaching to
A ($64) = 40% chance
B ($52) = 83% chance
C ($57) = 47% chance
Current price is $46.27. Betting on $52 point B is almost a sure bet with 83% chance! Let's see if I make money!
Not many people talk about this pattern. I will be using it in actual trading! How exciting?
Now we can trade based on probability of price reaching to
A ($64) = 40% chance
B ($52) = 83% chance
C ($57) = 47% chance
Current price is $46.27. Betting on $52 point B is almost a sure bet with 83% chance! Let's see if I make money!
Not many people talk about this pattern. I will be using it in actual trading! How exciting?