Hi All, I wanted to share this potential shorting opportunity for those who trade advanced patterns. With both of these patterns if we see the price push beyond the B legs we would anticipate a D completion, if you look at both of these patterns D completion - which is our entry point is right at the Previous Structure levels,
This should provide a good opportunity as we know Structure leaves clues.
As always Traders on screen for easy to read charts, color coded for you
Red Stops Green Entry Targets Color Coded
Bearish Bat Pattern: Blue Entry - Green @ 88.6% Initial Targets - 38.2% and 61.8% From our A to D move - Targets to be adjusted on D completion Stops - Minimum Level above X leg @ 1.113% Fib Ext - Second Stop to be moved at Break Even when Target 1 Is reached.
Bearish Gartley Pattern: Grey Entry - Green @ Between 78.6% Fib Retrace and 1.272% Fib Ext Initial Targets - 38.2% and 61.8% From our A to D move - Targets to be adjusted on D completion Stops - Minimum Level above X leg @ 1.113% Fib Ext - Second Stop to be moved at Break Even when Target 1 Is reached.
Good luck traders
評論
Oztrade
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Patterns Are invalid after the NFP
DerekUweri71
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Hi Oz, excellent analysis as usual.
Couple of questions.
1.Did you take into account the non farm payrolls?
2. D leg did not go beyond B, does that mean you didn't get filled?
AkashGaur
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Great setup oztrade
would like to know your views on this trade, same pair
Oztrade
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Hi Fxaks, Looks to be a Double Bottom, could be ok - if we push downwards my next buy signal is @ 127.776's normally with price action if we see a L3C or H3C depending on which way price is going usually indicates continuation in that direction after some form of retrace. The retest is a good sign for you though.