If your bias for a long term on this market short you would like to hold it for long term.
Trade Setup: Entry:: 0.8640 SL: 0.8691 (52 pips) TP1: 0.8567 (71 pips) TP2: 0.8522 (117 pips) Take Note on the HR 4 that we could have a potential bullish gartley/bat pattern if price wont breach the recent high @ 0.8644
We have a bullish Cypher Pattern completion at 1.2248. Aggressive could go long at that point and stops would below the x point at 1.2198.
Trade at your own risk. We have completed a Bear Bat pattern and could be more visible on the LTF. With here on the HR4 we got already an overbought market with divergence into it.
Upon on my backtesting on how to trade the bat pattern. It is nice for a first trade to give me atleast a 1:1 RR to my TP 1. In this, no matter how price will do, it gives me a lot of space for price to move in my said breathing room (range zone of entry to SL). This is for being an aggressive trader. But if you're conservative you would like to wait for a...
Upon my backtesting on the shark pattern. A good 1:1 for (TP 1) is a good way for I trade it to prevent from stopping out on the trade. With this it gives me a lot of space/room (from my entry to the SL) for whatever market is doing hopefully to take atleast on the TP1 and won't get stop since we got wider range of the D completion of a shark pattern. This is for...
A valid Gartley pattern is visible now as we establish a possible double/triple top. Once price breach the previous high (red dotted line) the setup gartley will be invalidated hence stopping us out on the short trade with good RR.
Long with a Cypher pattern formation. A good RR risking 100 USD for 120 of reward.
Pattern completion of Bearish Gartley Pattern. Up to 30 pips of reward (TP2).
See related ideas about this pair also. A bullish Cypher patter is already completed. SL just below X point.
We will wait for further price action in this pair. There could be a good candidate to go SHort and Long. It depends on price action and if there would be upcoming economic event that would affect this market.
My Daily Bias for this Pair is Short So technically any buy setup is probably buying an outside return/pullback. I would like to take potential sell setups only. And the only Sell setup i could have here is on the Bear Cypher and a break below of the X point of the potential Bat pattern
How will i trade this? a. Sell setup, bearish advance pattern in the LTF. (pending sell limit) b. BO of supports (pending sell stops) c. BO of simple pattern (triangles, flags, pennants, etc.) - selling the retest or aggressively on a candle lower low lower close.
We got a good 1:1 RR long opportunity for TP 1 with two advance pattern confluence of anti-bat the would be completed on the 113% fib inversion of XA leg of anti- batand 78.60% fib retracement of XC leg of Cypher. But it has wide range of SL of 200+ pips. If you are conservative enough. You could wait for candlestick pattern formation or confirmation that you can...
Price is hitting our potential upper trend line. As price did already retrace up to the 61.80% giving us a potential C point of a butterfly and a B point of a Gartley. And again if price will retrace still up (that would be already a BO) on the 78.60%, the gartley pattern would be invalidated but instead a bear butterfly now is at potential (B point) hence for a...
Two advance pattern near to its completion. A bearish Deep Crab/Butterfly and a Bat pattern.
Waiting.
We got 2 potential pattern as we got a bias by where will probably go.