Bat pattern completion at the D leg.
1hr timeframe so i use 20 pip stop.
There is also, for some of you, a potential gartley that formed inside this. I marked the x leg with an arrow. I personally wont trade this because my rules for a gartley do not allow the C leg to touch the 88.6% retracement of the AB leg.
great selling opportunity and the market will be coming up to possibly make a double top. Look left you can see the market respects this area number of times.
A bat pattern forming at D completion.
I love this pattern, I have recently managed to add it to 3 pairs to trade.
Crazy good risk/reward on this.
I give a 10pip stop loss on the 15min chart, then widen it a little further when the risk/reward is huge. Dont want to be greedy.
Market has slowed down here into consolidation, so hopefully scoop up some pips as buyers/sellers fight. :)
Gartley completeion @ 0.71799
Im not the biggest fan of trading nzdusd cause the spread from my broker is nearly 3 pips which kills the risk/reward ... however, i took this into consideration when i backtested it, so all is good :)
Short here @ 115.533
Great Risk/reward on this, hopefully the market takes a run up to the D completion.
I am still in a long position on USDJPY on the 4hr chart, however, because it will hit my T1 for that before entering into this, there will be no risk on the trade.