Hey traders, another setup here. We had a trend which is a series of two or more impulses in one direction separated by correction. Then we had a sign of reversal which is the violation of the last impulse's initial point. You can see NSL below the recent HL. This is it. As technitians we all know the truths that prices move in trends and they will continue moving in the trend's direction until we have a sign of reversal. This is the exact situation illustrating these truths. A bat pattern is a good technique to enter short in anticipation of downtrend installation. Here I expect at least A-point retest before we have a NSH above X. Press like if you find the information useful and subscribe in order to to miss my ideas)). Good luck
hi I am starting having interest in this kind of trading thanks to you and a few other traders but I still cannot figure out how You draw those lines and how you calculate those connecting numbers example 0.884 from X to D, 0.506 from X to B and the rest of them. Is that done manually or there is an indicator somewhere to download. I understand they are fFbonacci numbers but as far I am concerned they are different from the usual one when plotting Fibonacci Thank You very much and have a good day tradingRalf
Alexander_Nikitin
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My fib numbers are 0.5, 0,382, 0,886, 1,13 and 1,272. I just look if priceaction his this or that level. ratios on the chart are factual ratios calculated by XABCD drawing tool here on Tradingview. 0,506 means that B-point crossed 0,5 level i was looking at. 0,884 is just my own inacurate drawing. of course D-point should be moved some decimals of a pip further to be 0,886. Just grab a fibonacci line tool and measure the entry point. By the way I don't have XABCD drawing tool in my MT4 terminal. I measure ratios with fib line tool and fib expantion tool. then I spam it here)) haha))
KVE
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I hope this works out! I'm short...
IvanLabrie
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This target is there for me...it can fail, and would be a bearish sign if the stop is taken.
Alexander_Nikitin
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This is the case. if there were no opposite views it wouldn't have been possible to make a trade)).