Will watch price closely at .786 of the larger move, and am looking to enter at the completion point (D) as long as no warning signs for the pattern present.
Note
Interesting to note there is a BAMM short set-up which coincides with this smaller bearish bat...I am going to watch price action in order to decide whether I want to take this short trade or wait for the long opportunity.
Note
If price continues higher from here I may short at the completion of the bearish Cypher
Note
Missed the short for the original plan -- I am working on getting more organized! (Super important actually -- really need to get on this). I am now watching to join shorts via this bearish Gartley
Note
Noticed this bearish butterfly...has already completed and re-tested but if it gives another opportunity I will short. Plan is to move to breakeven after TP1 and perhaps hold for the completion of the Bullish Bat in the main idea
Trade active
Short /HGH7 @ 2.7395. Stop loss is 2.7485. Will move stops to breakeven around 2.7295
Note
Doesn't show here but the contract has went as low as 2.729 so my stops are at breakeven. Aiming for 2.645 to switch to long based on the bullish bat pattern in the main idea (2.645 will be the price on here -- will adjust to contract price as it approaches)
Trade active
Unfortunately I did not stick to the plan and covered my shorts too early. However I was still able to catch the bullish Bat. Here are my updated targets. I also moved my stops to breakeven based on this bearish AB=CD which just completed.
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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.