purplex

Potential Gartley or Bat Pattern

Short
purplex Updated   
TVC:NDQ   US 100 Index
Aggressive traders short on the completion of the Gartley pattern (6384.2)

Warnings: Only retraced to .382 price action could potentially continue past this area and form a Bat pattern. For this reason I will wait and trade the Bat unless I see a reversal signal.

Conservative traders short on the completion of the Bat pattern (6397.5)

Warnings:
  • Look for wide range bars completing the D leg (could extend further than the anticipated reversal zone)
  • Market has been in a strong uptrend (keep contract size small)
  • If your trading using nadex as broker be aware of the time the pattern forms you want to have enough time to reach targets
  • If price extends further than the .786 or .886 you must change shorten your targets accordingly
Trade closed manually
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