- parallel channel - AB=CD Pattern (purple) - AB=CD pattern (blue) - bearish bat still active (see below)
as always im placing short term and long term targets
TRADE ONLY ONE USD PAIR AT A TIME
Best regards.
Comments
KVE
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I like it, will base a trade on it!
FullTimeTrader
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Yes, the R/R is good if the bat targets are reached (at least the 0.38 target). Regards.
KVE
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I'm not sure about the bat, there was a significant sell-off at the 0.786 ret. of XA which leaves me in doubt, the small AB=CD however is a perfect one (0.618 ret. and 1.618 ext.), so that one convinced me that we were up for some retracement in any case.
On the other hand I am seeing a butterfly pattern in development which could take us far higher after this retracement, or right away, we can never know for sure... In any case the B point of the possible butterfly made a perfect 0.786 retracement! But bulls will need to push hard to get above that January high level, above which possible longterm SL levels may be triggered taking us high enough to complete the butterfly!
This is my AB=CD trade idea, all credits to you for pointing it out!:
And this is my butterfly idea:
FullTimeTrader
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Technically the butterfly is a possibility but i prefer to look for setups near the price. The bat is not perfect but we have a confluence of other reasons to look for shorts. Regards.
RamprasadSanthanam
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is this trade setup still valid I think it's a good time to re enter any comments
rozy11Toro
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Beatiful! Same view!
FullTimeTrader
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Well done, you anticipated it
AkashGaur
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Hey fulltimetrader, we also have a bearish confluence on the chart. Thanks for posting, gave me more confidence in my analysis