abakosi

abakosi

- RSI divergence - Fib confluence - AB=CD - Descending channel

abakosi Updated 

If price action reaches the D point and completes this pattern, I'll be looking for a double top to enter this short trade, plus RSI overbought conditions. Stops go an ATR above the double top, and I'm shooting for target 1 only at the 38.2% AD retracement. (On this chart I marked the R/R as a 1:1 because we don't yet know the ATR.) I could also enter this...

abakosi

If we push down to the D completion zone then there's a potential Gartley pattern for a long position. I need price action to push slightly below the official D point, so I can have a Risk/Reward ratio of 1:1, otherwise it'd be inverse and that'd invalidate the trade for me. In the CD leg of the pattern, there could be an AB=CD equal-measured move forming. Once...

abakosi Updated 

If we push up to D completion zone then there's a potential Gartley pattern for a short. However, in that case, I need price to push slightly above the D point, so I can have a Risk/Reward ratio of 1:1, otherwise it'd be inverse and that'd invalidate the trade for me. There is an AB=CD equal-measured move completing at the D point, plus a crowded Fibonacci...