Building a case for entry
The pair was consolidating within a triangle, but broke out to the downside. The first retracement formed point B at a previous longer term dynamic support. Now, the pair is making a deeper retracement back to the triangle boundaries.
Setup
Entry: 0.6801
Stoploss: 0.6867 (66 pips)
Target 1: 0.6703 (1:1.48)
Target 2: 0.6642 (1:2.41)
Target 3: 0.6474 (1:4.95)
Caution
If the stoploss is too big, downsize you positions!
The pair was consolidating within a triangle, but broke out to the downside. The first retracement formed point B at a previous longer term dynamic support. Now, the pair is making a deeper retracement back to the triangle boundaries.
Setup
Entry: 0.6801
Stoploss: 0.6867 (66 pips)
Target 1: 0.6703 (1:1.48)
Target 2: 0.6642 (1:2.41)
Target 3: 0.6474 (1:4.95)
Caution
If the stoploss is too big, downsize you positions!
Order cancelled:
Setup cancelled. Point B is no longer valid for a Bat pattern. However, a potential gartley pattern may form.