I've been eyeing this opportunity this since last week. Price have failed 5 times (and counting) to break and close below 1.0650 (seen on 4 hour), which also happens to line up more or less exacly with 61.8 fibonacci X-A.
We're coming from an oversold condition, momentum seems to be turning around - could this simple setup wield profit?
Overall, the break to...
My clues here are;
Confirmed support at previous keylevel.
Keylevel coincides with bullish trendline
Several pointers towards a triangle forming
My stoploss is above 1.05000, lets see if it bites me.
Target 0,618 fib of A-D move, and just below another weaker keylevel.
We have an opportunity to get long with the backup of batman (if he's with us this time). Entering after sign of a bullish rotation. Applying the thought process of a 2618 with retracement to 0.618 fib after a double bottom.
Target 0.382 fib of C-D leg of the bat.
Stop loss just below the lows.
We find another similar opportunity as yesterday to buy with completion of 2618.
The big gartley has not yet been violated and is still a signal that adds to this case.
Orders are pending, Im shooting for two targets with respect of the gartley.
We have a 2618 playing out after D completion of a Gartley seen on 4H
Im shooting for 2 targets this time with conventional 0.382 fib of gartleys C-D leg in mind.
Orders are pending, lets see if we get filled.
1. Bearish bat formation which turned out a winner, but not before putting up a fight.
I entered this one since we also had a previously tested support and resistance area.
2. If the marked decides to push the price down we could see a complete bat formation. Although Im not too happy about the bullish trendline being violated, which itself is a bearish signal....