Looking to go short here on this bearish bat pattern. It's come up to a previous downward trendline. If this moves down to .382 retracement I will move my stops to break even as my target profit is towards previous SD zone.
Stop Loss: 46 Pips
Take Profit: 77 Pips
Stop Loss: 46 Pips
Take Profit: 77 Pips
Comment:
The trade is still valid, Bat pattern seems to still hold, I'm moving my take profit to .5 fib retracement which puts it at previous support line
Comment:
Going into 5 min chart it appears as though our uptrend was broken, previous high retested, large bearish engulfing candle formed at close of 5 min. This is a good confirmation that we are headed down now
Trade closed: stop reached:
broke up, no retracement on the harmonic move