I have spotted a formation on EURCAD that looks a lot like a Gartley Bat. I am not 100% convinced due to point C being lower than point A. Is this allowed? All the other points look good, especially as CD is 0.866 (ish) of XA.
Also, it looks like the reversal may have already started.
I am new to these harmonic patterns and would appreciate some guidance from...
291113 - UTC 08:30
Reason to trade:
Most of November has seen repeated testing of the year long low at around 0,8310. With the continuing bearish pressure, it is doubtful that the support will hold much longer as there still seems to be plenty of buyers out there. I will reassess early next week.
Entry:
There is a strong entry indicator at the 50% fib point at...
251013 - 12:40 UTC
Reason for Trade:
Looking for medium term trade, about a week. Strong bullish pressure building towards secure resistance zone @ 1,6250
Entry:
I would like to see the price move at least 1 x ATR above R zone about 30 pips. So, will buy @ 1,6280.
Exit:
Take profit is set, optimistically, @ 1,6477
Assuming the R zone will become a Support zone,...
