Hi Traders, thought to get this one up for those who trade this pair, time frame and pattern. Keep in mind this is by no means a trading signal only posting the patterns I trade in my portfolio. As always its good to keep in front so we dont miss our opportunities and if this helps those who trade these patterns then its all well worth the effort.
I have recently posted a small BAT which is higher up and It is still valid. For those who trade GARTLEY that smaller BAT we have also formed the B and C leg for the GARTLEY which provides us 2 advanced patterns and also the 61.8% at the same area which has a potential for bulls to have more orders in place adding to the chance of a price reversal at that area.
With this BAT Pattern the entry level is 88.6% which also has a good opportunity for a reversal - we have that psychological price level right at our entry.
As always Entry, Stops and targets on screen.
ENTRY - 88.6% XA Retrace
STOPS - are always below our X leg - some may use ATR Based stops, certain pip value, or a FIB % as long as you follow your rules and plan all will be well. Stops are moved when we hit our TP1 and TP2 stops is moved to break even. Unless we are stopped out
TARGETS These are a standard target being the 38.2% and 61.8% CD Retrace - these will be adjusted on D completion
Pattern will be invalid if price action goes beyond our A leg before a D Completion
Pattern also invalid if we violate X leg.
Enjoy and happy trading
I have recently posted a small BAT which is higher up and It is still valid. For those who trade GARTLEY that smaller BAT we have also formed the B and C leg for the GARTLEY which provides us 2 advanced patterns and also the 61.8% at the same area which has a potential for bulls to have more orders in place adding to the chance of a price reversal at that area.
With this BAT Pattern the entry level is 88.6% which also has a good opportunity for a reversal - we have that psychological price level right at our entry.
As always Entry, Stops and targets on screen.
ENTRY - 88.6% XA Retrace
STOPS - are always below our X leg - some may use ATR Based stops, certain pip value, or a FIB % as long as you follow your rules and plan all will be well. Stops are moved when we hit our TP1 and TP2 stops is moved to break even. Unless we are stopped out
TARGETS These are a standard target being the 38.2% and 61.8% CD Retrace - these will be adjusted on D completion
Pattern will be invalid if price action goes beyond our A leg before a D Completion
Pattern also invalid if we violate X leg.
Enjoy and happy trading
Comment:
Pattern Still Valid, Targets adjusted to 38.2% and 61.8% CD Retrace - New C Leg is the higher structure to the RIGHT - if price falls down to our entry before violating our A Leg - TP1 TP2 still need to be adjusted on a D Completion
Comment:
We have a break and close below B Leg - orders in place