Feel free to comment if I'm wrong ~ GU buy order on 1.422
1 - Bearish Gartley: The one in pink is drawn based on daily chart basis. Price is moving toward the C leg.
2 - Bullish Bat: The one in blue is drawn based on 4 hours chart and the bullish bat pattern is expected to be completed by today.
Long bias - the red rectangle is a recent support zone in 4 hours chart and the red line on 1.4226 is historical support (the lowest point on year 2010 to 2016, even though this level has been "violated" last week). Therefore I expect this level will be tested again and the price will bounce upward from this level to D leg of the Bearish Gartley. Besides that, the bullish bat pattern expected to be completed around 1.4245 (which is the completion of C leg of Bearish Gartley).
Buy limit : 1.423
SL: 1.413
TP: 1.472
RR: 1:5
Buy limit will be cancel anytime and switched to market buy order depending on the market condition.
Disclaimer:
I'm only providing my own thought toward the market but not making any trade call.
2 - Bullish Bat: The one in blue is drawn based on 4 hours chart and the bullish bat pattern is expected to be completed by today.
Long bias - the red rectangle is a recent support zone in 4 hours chart and the red line on 1.4226 is historical support (the lowest point on year 2010 to 2016, even though this level has been "violated" last week). Therefore I expect this level will be tested again and the price will bounce upward from this level to D leg of the Bearish Gartley. Besides that, the bullish bat pattern expected to be completed around 1.4245 (which is the completion of C leg of Bearish Gartley).
Buy limit : 1.423
SL: 1.413
TP: 1.472
RR: 1:5
Buy limit will be cancel anytime and switched to market buy order depending on the market condition.
Disclaimer:
I'm only providing my own thought toward the market but not making any trade call.
Comment:
SL moved to breakeven.
Trade closed: stop reached
same TP and SL
SL will move to breakeven when the price reached 1.44