we have Bat formation completing near previous resistance area, if it completes it might be a good opportunity to short because of fib levels and structure confluence. Stop losses above X leg and structure resistance , targets 0.382 FIB LEVELS Feel free to share your thoughts in comment section,thank you. Sam
Morning traders! on EURCAD we have a potential short bat formation might complete around 1.40820 levels. Several fib levels and structure levels are confluencing as you can see on the chart. So this set up can be good one to trade with more than 1:1 r/r. Targets are at 38 and 61 % and stops are below X leg. Good luck! SamFx
Long bat might complete around at 113.345. eventhough it gives good risk reward which is 1.8 r/r, entry lvl is just above the previous big strong support zone, so please be careful before you enter to this trade, i would look for multiple entry reasons. Conventional targets and stops below X leg. Good Luck traders! SamFx
Hi guys, We have a bearish bat formation on hourly chart, which is already triggered and tested PRZ half way. And also this zone is previous support/resistant structure. This one can be good trade with risk reward around 1.5 at the first target 38% FIB lvl even when you place stop loss 10 pips above the whole PRZ, you can aim for target 2 at 61% and so on. If ...
Hello everyone I have got bullish cypher formation on NZDUSD it has laready touched 78.3 area but if it comes back and retests with double bottom it can be good entry point for long opportunity. In terms of profit targets, I am aiming for 61% retracement and stop losses are half ATR below from d X point which is giving me 1.5 r/r. We ll see what happens. Sam