bmck1

Potential Bullish Bat on the EURUSD (H1)

Long
FX:EURUSD   Euro / U.S. Dollar
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With the way the market is currently moving on this pair, it looks like we have the potential for a bullish Bat pattern to form with a D completion/entry point right down close to the 1.1600 even level. This market has been in consolidation for a little while and we know that consolidation is great for these type of Fib ratio patterns.

Should we push down to re-test that 1.1600 flat level, I will be looking to get involved if we hit the D completion point aiming for the standard traditional targets for this pattern. For now there is nothing to do but wait and see if the market moves closer to the levels needed for this pattern entry.

Comments

Bat Pattern now invalid, but if we continue lower from here we could be looking at a deeper Gartley. Will update if/when we get closer.
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if you look at ichimoku cloud you will prefer a entry above 1.167 levels
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bmck1 Btcshiksha
@Btcshiksha, not too familiar with ichimoku but interesting to have another side of the coin :) thanks!
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