Hi All,
Here we have a BAT pattern formed on the GBPAUD, if you used the X Leg from the lower structure appears we have hit 88.6% Entry already. I used the previous structure point as my X Leg based on my rules.
Entries to be at 88.6% From XA
Stops are above X leg at which ever you choose for your stop level whether it is based on pips or based on a FIB Ratio but must be above previous structure X Leg
Targets are initial targets based the the D Completion. So if we have a reversal above the 88.6% Targets are to be moved up at at 38.2 and 61.8 using fibs from AD Completion
Stop are also to be moved to break even as soon as our target 1 is hit.
If the price action moves beyond X this pattern is invalid.
Enjoy and happy trading
Here we have a BAT pattern formed on the GBPAUD, if you used the X Leg from the lower structure appears we have hit 88.6% Entry already. I used the previous structure point as my X Leg based on my rules.
Entries to be at 88.6% From XA
Stops are above X leg at which ever you choose for your stop level whether it is based on pips or based on a FIB Ratio but must be above previous structure X Leg
Targets are initial targets based the the D Completion. So if we have a reversal above the 88.6% Targets are to be moved up at at 38.2 and 61.8 using fibs from AD Completion
Stop are also to be moved to break even as soon as our target 1 is hit.
If the price action moves beyond X this pattern is invalid.
Enjoy and happy trading
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