EUR/USD - 4h Chart - Gartley & Bat Pattern
Light Grey - Gartley Pattern - D leg completion at 1.0818
Dark Grey - Bat Pattern - D leg completion at 1.1366
Price has now broke and closed below the the B leg support level of the Gartley Pattern, this should now act as resistance before a move lower.
Taking a Fibonacci of the C to D leg of both the Gartley and Bat Pattern gives us a .382% Target 1 at structure resistance / support, which is a perfect area to take of half of our position and move stops to break even.
- Stop Loss below / above X
- Target 1 at .382 Retracement ( Once Target 1 is achieved, half of position taken off and SL moved to break even )
- Target 2 at .618 Retracement
Light Grey - Gartley Pattern - D leg completion at 1.0818
Dark Grey - Bat Pattern - D leg completion at 1.1366
Price has now broke and closed below the the B leg support level of the Gartley Pattern, this should now act as resistance before a move lower.
Taking a Fibonacci of the C to D leg of both the Gartley and Bat Pattern gives us a .382% Target 1 at structure resistance / support, which is a perfect area to take of half of our position and move stops to break even.
- Stop Loss below / above X
- Target 1 at .382 Retracement ( Once Target 1 is achieved, half of position taken off and SL moved to break even )
- Target 2 at .618 Retracement