Ive noticed this pattern on the daily ECAD chart,
Im looking for a retranchement into the daily imbalance of July 6th , since all other imbalaces have been filled.
the r:r is not bad at all, and worth a shot.
If price doesn't retrace that far, I would wait for either a break of the low of the pattern, or a break of the high, and then implement the teacup rules. ( size of cup is TP target, SL just below the handle. )
any thoughts or comments are welcome :)
thnx
Im looking for a retranchement into the daily imbalance of July 6th , since all other imbalaces have been filled.
the r:r is not bad at all, and worth a shot.
If price doesn't retrace that far, I would wait for either a break of the low of the pattern, or a break of the high, and then implement the teacup rules. ( size of cup is TP target, SL just below the handle. )
any thoughts or comments are welcome :)
thnx
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.