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
Comments
amyazad
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Very Nice tomu .
UnknownUnicorn180388
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Thank you!
moneymaking
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Hey Tom, I really like your harmonic pattern ideas. Very interesting. Finally found someone who loves trading harmonic patterns. Keep it up mate :)
UnknownUnicorn180388
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Thanks very much,
I see you also like to trade patterns, The best of luck :-)
moneymaking
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Hehe, Yes I am true fan of harmonic patterns. Love them :)
UnknownUnicorn180388
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Keep up the good work!
moneymaking
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Thank You mate :)
Gambler
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Hi Tom! Yesterday, i proposed such a model. Timing I 17.09. for the meeting FED ) Good luck!
UnknownUnicorn180388
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Are you long at the C leg or awaiting a D leg completion before getting short?