EURCAD: D1 Gartley Entry with 4H Bat
Updated
EURCAD has completed a bullish bat in the PRZ of a larger TF bullish Gartley pattern. Using a smaller TF pattern to enter allows for a more optimal R/R because we can use the SL for the smaller TF (precise entry) and the larger TF to determine bigger profit targets. To add to bullish bias, an unhit monthly pivot sits above price close to the position of .382CD. SL is placed below bat X with targets at the unhit November pivot and .618CD.Confluence in the PRZ:
- Bullish Gartley pattern completion
- AB=CD (Gartley)
- Bullish bat pattern completion
- 3BC Projection
- Unhit monthly pivot above price
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Trade active
Bat PRZ has been entered and trade is active. I should also note that there is a bullish Gartley pattern on the same TF as the bullish bat which has a confluent PRZ and target area:
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