Another nice advanced pattern formation forming on the AUDCAD on the 4HR chart. The D completion is targeted to complete just above the range support structure. This may create some buffer for the price to continue to move down and test structure. Therefore, must ensure stops can cater for the possible move down. Stops are below the range. Must ensure orders are...
Multiple advanced patterns in this range. Two patterns now forming with both D leg completions in the same area. In line with the current range resistance. Limit orders placed at D completion of last formation.
Following my candle stick spinning top strategy, I saw this formation coming together on the 4HR NZDCAD. My rules dictate to place the limit order after the completion of the candle stick pattern. i was called to a meeting that over ran and when I came back I saw the price shoot north. Heart pain, but one must stick to the rules of your strategies.
Couldn't think of any good bat jokes for this analysis so I'll just wing it.
Nearly perfect BAT pattern forming. I will place a short limit order once price breaks above B leg high. Shorting at the D leg completion is inline with the higher time frame trend.