8.62MMarket Cap-1335P/E (TTM)
6.2140High5.8000Low9.31KVolume6.2140Open6.1750Pre Close55.32KTurnover0.67%Turnover RatioLossP/E (Static)1.43MShares14.800052wk High0.60P/B8.35MFloat Cap4.751052wk Low--Dividend TTM1.39MShs Float3241684.2586Historical High--Div YieldTTM6.70%Amplitude4.7510Historical Low5.9420Avg Price1Lot Size
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ABCD pattern trading
Stock Scalpers LLC.
A-B-C-D Pattern
April 20, 2020
The Pattern
The ABCD pattern is extremely easy to follow and is great because so many traders still follow it. In this method a trader is simply doing what all the other traders are doing, because trading with the trend increases probability.
The beginning of the pattern starts with a sharp and strong upward price movement. From point A to point B traders are actively and aggressively buying the stock. New daily high after new high. A trader shouldnt enter the trade between A and B, they would be chasing the trade with no accurate method of placing a stop-loss.
At point B the price is already VERY overextended. After the high of point B, traders who bought the stock early begin to sell and the price drops slowly down. It is still not the right time to enter the trade, though. As the selloff of B starts there is no clear indication of a bottom. Only once support is found, at point C, should the trader start planning the trade.
The space between point B and point C is the best range to buy once an uptrend begins. The new support at C can be used to set a stop-loss.
Once the uptrend starts the trader can sell their position at any point D. Point D is generally derived from the first red candle in the 5-minute chart after an uptrend commences. It is normally a sign buyers are running out of gas.
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