Looking to long where indicated in the chart. In this scenario I will then watch for a short at the Cypher completion point.
If price closes below the red dashed line I will abandon longs until the completion of the Bullish Bat.
If price closes below the red dashed line I will abandon longs until the completion of the Bullish Bat.
Trade active
I got in at 2.833 (NGH7)
Trade closed: stop reached
My stop on this long was hit and the bearish Cypher has been invalidated. I will now be looking for the completion of the bat pattern around 2.55 area to long again.
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Watching for a chance to enter long
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Maybe something like this or a re-test of the D point for now...
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It has the potential to happen...I placed limit order at 2.564 with 35 pips risk
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If the price will continue down from here, there is an AB=CD confluence at the D point. I will be waiting down there...
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....and a Gartley (red)!!
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The previous bullish patterns never completed. I am still hopeful and waiting for a pattern to enter. Perhaps this Bullish Bat?
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4 Ways I am looking at to get in this long:
Bullish Butterfly (Completed)
Bullish Bat
Larger Bullish Bat
Re-Test of the Largest Bullish Bat (Main Idea)
I can use a stop loss of red line in this update or the safest stops which are the red line in the main idea
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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.