Price is moving in a rising channel
, into a corrective structure. In the chart we see that we have a bearish bat
pattern completion. Besides there is also a pending bullish gartley
with CD still incompleted. A potential move to the down testing the bottom trendline
of the channel will complete the gartley
, giving also a very nice profit.
I will trade this setup enetring with three positions. Stop loss will be above X point of bat but a little higher to be above the upper trendline
. As for profit targets as shown at the chart. If price reaches first target i move stoploss at breakeven at the second and third one.
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