US30 has just landed a AB=CD pattern and is atm testing previous structure. We might se a brief reaction from the structure (double bottom) confluencing with
the AB=CD pattern. I´m waiting for a bit more extended move down to a complete Bat pattern and probably a test of daily structure just below.
The price action at these levels will be my descission point for...
A really nice 1:1 AB=CD pattern was just completed on EURNOK 4h.
The only "warning" is the "fast" fall down to the D-point = Tight SL.
RSI is oversold as well but the more restrictive can wait for it to break up over 20 (or 30 for those who use that).
The risk is that you miss a large part of the movement. As always - your plan and what you have tested is what...
GBPJPY has just landed both a near to perfect Bat pattern as well as a Deep Crab pattern - both completing at the same levels.
Right now we are watching at a first reaction from the PRZ, that I´m personally not involved with, but will probably see a retest of the complete zone
before we hopefully get another (Type 2) reaction.
We have no clear trend so standard...
Awaiting a complete pattern and test of PRZ.
AUDCAD shows no real trend so to stick to standard targets is recommended.
Tight SL just below the X point.
This is a thought trade within a falling wedge, where we expect a structural downward movement to the bottom of the wedge.
Tight SL and target price down at both the wedge bottom, 113% fibonacci extension of previous bearish leg as well as previous structure.
Provides a good R: R ratio.
Another great Bat pattern in a, for the current timeframe, consolidating pricerange.
As always with these we´re not looking for to extended targets - just the normal 38.2% and 61.8%.
UNtil PRZ has been tested and additional confirmation is shown - I´m on the sideline.
Back to back with a Shark pattern, that completet its "Type 1" reaction and hit T1, we now see a potential Bat pattern form.
I will personally be abit more careful with this one since X point of the Bat isn´t on the absolute high of the previous swing (B point of the Shark pattern).
But as with many other patterns forming in the same way, you just have to be aware...
If you look at the 4h timeframe, we have had a pullback from a downtrend. If you go up another step to Daily timeframe, we've had a pullback from a uptrend - so the timeframes are a bit contradictory.
This is also seen in the 1h timeframe where we recently had a more consolidating period. This allows both a bearish pattern or, as in this case, a bullish pattern to...
Looking at this potential bearish Bat pattern with great pivot points defining an almost optimal Bat pattern.
The B point is close to 50%, we have a distinct startingpoint for X and, we are in a downtrend.
Also, we have price levels, to your left, that has been tested couple of times falling at the same level as 88.6% - the most important level for a...
It's still a way down to the fact that we have a complete Bat pattern here but what one can draw from this conclusion is that we are in a clear downtrend where the Bat pattern's "regular" magnet down to the D point, after we got a closing under B, also helps.
In a lower (time resolution) perspective, you can use this to take trades in the right underlying...
not a trade I'll be taking since I don't day trade on mondays. but
if you front run your orders this would already be filled, so follow your rules!! on whether you would still take this or not...
entry @ 117.96
traditional targets @ fib retracement .382 and .618
Good Luck
Nike was in the news today with a few missed estimates so i decided to check it out and what do you know, we've got a potential bullish Gartley formation coming right back down into previous structure support.
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Akil Stokes
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This is a setup for you day traders out there!
I see long opportunities as soon as this pair reaches my entry point @0.9472. The lows where we're trying to find support at haven't been violated this week @0.9466 and today we're trying to find support again at this level. This idea contains 2 fibonacci based target points and a stop loss below X. If the lows hold...
