AUCAD - 1H - Lots of patterns
Updated
We are currently sitting in the PRZ of an ABCD pattern from the 4H timeframe (check updates). this is usally a good place to look for patterns on the lower timeframe since market might consoldidate in that area and the easiest way to trade inside consolidation is to look for patterns.
I already traded 2 of them, but i thought this one i put out here.
I already traded 2 of them, but i thought this one i put out here.
Note
here the daily timeframe. you can make a point that this is a gartley as well, but gartley or abcd doesnt really make a diffrence for the setup in general, so whatever. Note
depending on your ruleset, this last one might be a bat for you. but for me, when it comes really close to the 618 (although its not touching it) and i see a nice ratio confluence between the 786 and the abcd pattern inside it, then i review it as a gartley. but a bat would work here as well.Note
worked out nicely so far. since we broke the downward channel inside the D leg of the gartley, i placed my stops below the daily lows since point D seems do be confirmed. further i took early profits for a quick 1:1 at the retest of the white box. with the rest i will now look for further upside. if you wanna hop on board you can try to wait on a break above the white box on then buy the retest. i will also most likly buy there a second time, if the setup unfolds nicely.
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