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Alternateabcd

*CAD/JPY* Bearish Butterfly On The 1H Almost At The PRZWe have a nice bearish butterfly forming on the CAD/JPY pair, Intermediate Timeframe is 1H, Major is 4H and Minor is 15M. I expect this pattern to complete within the next few days. The following are the things I like to see confirmed before taking a trade: XA Retracement Is: 1.272 BC Projection is: 1.618 Alternate AB=CD is: 1.13 Stop loss level is measured with the fib retracement tool from X to A using a set ratio 1.414 Take profit level is measured with the fib retracement tool from A to D using a set ratios 0.382 and 0.618 If price reaches the 0.382 ratio I would move my stop loss into break even or just into a little profit to bulletproof the trade ensuring if the trade goes against me I will not take a loss and even a small profit. If you have any questions feel free to drop it in the comments. Happy trading and hope everyone has a great day! Matteo :)
Short
by MatteoMelidoni
1
*GBP/USD* Bullish Bat On The 1H We have a nice bullish bat forming on the GBP/USD pair, Intermediate Timeframe is 1H, Major is 4H and Minor is 15M. I expect this pattern to complete by the end of this week (01/07/2019) The following are the things I like to see confirmed before taking a trade: XA Retracement Is: 0.886 BC Projection is: 2.618 Alternate AB=CD is: 1.618. Stop loss level is measured with the fib retracement tool from X to A using a set ratio 1.13. Take profit level is measured with the fib retracement tool from A to D using a set ratios 0.382 and 0.618 If price reaches the 0.382 ratio I would move my stop loss into break even or just into a little profit to bulletproof the trade ensuring if the trade goes against me I will not take a loss and even a small profit. If you have any questions feel free to drop it in the comments. Happy trading and hope everyone has a great day! Matteo :)
Long
by MatteoMelidoni