UPDATE: This trade has failed. __________________________ Pretty symmetrical. I like it!
The price-action appears methodic as pound gains terrain over the highly-appreciated dollar. I am lookinf forward to buy @ C point near the bottom of the green channel if I identify an ABC within the current 'correction tube'.
My forecast splits in two possible scenarios. Both of them are within the Y wave. The question is which of both direction will occur first?
I am expecting two different scenarios so far for engage a trade. Let's oversee the process.
UPDATE: trade closed in break-even. _______________ Putting stops @ BREAKING EVEN.
I guess it will be a trend continuation after days in consolidation. I am assuming that the consolidation is already broke and the retracement is a opportunity to hope on the trend.
AUDJPY H1 - Bullish Bat Entry: 89.684 Stop: 89.055 Target 1: 90.505 Target 2: 91.007
First idea here. x____x Seems like a pretty good short opportunity in my eyes. We have a double top, rejection of the daily support pivot line, a 34 & 50 EMA rejection, Fibonacci "Killzone" rejection, "Tweezer-Top" candle pattern, and the current candle closed below the lows of the previous candles. Seems legit to me. Anything wrong I'd be glad to know. I'm still...
Bull Cypher forming with the overall bullish movement, I will take extended targets on structure since the movement is with the overall tendence.
Check your data to see if this qualifies as gartley or a bat pattern ("X to A" equal or minor to 0.618 retracement)
If the market comes to 1.0210's there will be a possible shorting opportunity in terms of a bearish bat pattern.
As you can see the smaller bullish bat pattern which I traded on the 15 min Chart was successful. Now I'm looking for the completion of this possible bearish Bat pattern on the 60 min Chart to short the market at around 1.6660
As you can see the bullish Bat pattern was successful and now there is another possible opportunity setting up. Looking to go short at around 172.55 TGT: 172.24 Stops have to go above X. Back and forth...
I published this chart not only to show the potential short-term direction in Apple, but also to display a simple example of how I came to that analysis. Might also be a good primer for people wanting to learn more about technical analysis or maybe they see something they didn't know earlier that they can incorporate into their trading as well.
We've been getting higher lows in JCP for some time now. I don't think it will break out on this retest of resistance, but at least we can make a few dollars on the way up to retest it.
Textbook Bat pattern on 60m chart, my trade plan on the chart.