Hi Traders, I have been watching this over the last couple of days, seeing we are getting close to a potential break and close above our B Leg thought to get this up for those who trade this pair and this pattern.
We seem to be testing this B Leg area for some time. If we have a break and close above I would be looking to get short at the 88.6% Bat Entry.
I have also adjusted the targets on screen not using conventional targets in this case. I have chosen the 38.2 and 61.8% Retrace from our AD this is also based on where the structure is currently sitting. Targets will be adjusted depending on what price action does above the B Leg if it breaks above. Ideally straight to our entry and fall of a cliff would be just ideal. But we sometimes need to manage these in trade to get the best prediction and analysis of where price is most likely to go to.
Remember pattern is invalid if we fall below our A Leg or price action violates our X Leg which ever comes first.
As always enjoy and happy trading. As a Bull we become a Bear and vice versa
We seem to be testing this B Leg area for some time. If we have a break and close above I would be looking to get short at the 88.6% Bat Entry.
I have also adjusted the targets on screen not using conventional targets in this case. I have chosen the 38.2 and 61.8% Retrace from our AD this is also based on where the structure is currently sitting. Targets will be adjusted depending on what price action does above the B Leg if it breaks above. Ideally straight to our entry and fall of a cliff would be just ideal. But we sometimes need to manage these in trade to get the best prediction and analysis of where price is most likely to go to.
Remember pattern is invalid if we fall below our A Leg or price action violates our X Leg which ever comes first.
As always enjoy and happy trading. As a Bull we become a Bear and vice versa