Will not be buying at D but a little bit above that, if price makes it that high.
Reason being; decent structure (red line) and also want to give my stop loss more than normal room so to keep my risk to reward I will either miss this trade or get in for a better price with more room for the stop loss, keeping the ...
Stops are placed a little higher this time because of second structure which gives the Risk to Reward of 1 : 0.94. But this seems like a good trade because of price running all night to this structure area. But do make sure to take profits at the 38% retracement as there is structure there and if this Bull trend ...
I have written the notes on the chart it self. I will buy this at the D leg and it's possible that this may fail and if it does then we have another chance to buy at Recent Structure (rectangle in Blue).
Strong Support/Resistance Zone (in purple line)
Reasons to enter Trade:
Bear Bat Pattern
Long term Support (purple line dating back to April 13, 2015)
Exhaustion Candle on H4 (previous green candle with long wick on top)
Since this pair is in uptrend recently it may continue this trend so I will not risk a lot on this trade and also ...
Reasons to sell:
Strong Resistance (Purple Line)
Trend (Recent) continuation downwards
Things to consider:
The Bear Gartley (in yellow) which is also 1.618 Fibonacci of the double bottom and around there it will also become a double top thus putting the Bear Gartley into play.
Strong support (bottom ...
Long Trade @ 129.833. Stop at 129.408, 42 pips. Profit at 130.560, 73pips
Trade in direction of trend.
Risk to Reward is great = 1 : 1.75
Possible RSI divergence upon D leg completion.
Can hold the trade longer if you are a trend trader.
This is adding to my idea (previously posted). If that fails then price may fall further to breach the bottom channel at which point the X leg for this Bull Cypher patterns sits right at the a major support line on the Daily Chart (please scroll back).
When channels are breached price usually goes to retest the ...
This is a Trend trade with Cypher pattern stopping at leg D + channel support that has been respected in the past multiple times.
Risk to Reward is great on this trade with 1st Target = 1 : 1 and Break-even for the remainder lots and take remainder lots either at 61% fib or let them ride up to double top.
Keep an ...
Bullish Gartley pattern in direction of trend (shows by yellow triangles)
Trend line going upwards.
Developing Flag Pattern
Head & Shoulders Pattern
Current Trade Long at end of D leg
Risk : Reward = 1 : 0.81 for 1st Target
2nd Target (just below 61% Fib) = 1 : 1.37
And could be played to hit at least top of ...
I see the completion of the Bearish Bat pattern ending at the D point (leg). But it's possible that it can go higher if you look back X can be marked at the higher point above my X. Strong resistance here at this level if you look on a 4 hour chart.
Risk to Reward = 1:1.36 for 1st target which is at 38 Fibonacci ...