I have been testing an unconventional advanced pattern strategy for some time now which I would like to put to the test with this idea. I am posting it upfront so there can be no doubt about it. This strategy came to place after I have noticed that I have been missing quiet some entries. Lets see what will happen... (if the pattern even completes lol :P).
Close below lower line of channel --> Then I think the bottom is going do be retested --> if not, we are still in this channel and a break to the upside is likely
Ratio Confluence (1,272 ext and 0.886 retracement) at D where the completion of a bat pattern should result in an upward move. Until D I think EURJPY will have a Bearish Bias. Good Luck
Target 1 hit --> close half position---> move stops to breakeven. Good Luck!
Half position closed at target 1 --> stops move to break even . Good luck traders!
Ratio confluence at D with 0.707 retracement of the initial large upward move. I expect price to reach 0.8707 before retracing again.
D comes right in at previous resistance/ support, 1.68 ext of AB and 0.681 retracement of initial large leg. A close below 1.67695 is all we need to reach 1.6666 (nice number dont you think?) Good luck
Ratio confluence at the 1.414. stops go 10 pips below X. Good luck
Double bodem at C with bullish rsi divergence. Nice ratio confluence at the D where strong resistance was found recently. Expect price to reach 103.680.
AB=CD completed already. Ratio confluence is evident. Price has reached the 1.618 level before retracing. Price is now in channel. When broken to the downside. The initial targets of the initial impulse leg stand (these come right at major structure support/resistance. When broken to the upside, a retest is quiet possible ---> after that I prefer a short trade again.
AB=CD pattern already completed with major ratio confluence at D. A retest is possible. In case this happens I am looking for the targets mentioned.
Potential AB=CD pattern. Ratio confluence at D wich should come at previous structure support and resistance. Taking a short trade on a close below 1.08556 with 1.06126 is an extra trade one could take (considering Risk Reward Ratio). Good luck!!
The way this Gartley is setting up should result in AB=CD. Ratio confluence of AB at D. In addition D comes right at previous structure resistance.
Double bodem at previous support/resistance with ratio confluence and bullish RSI divergence