I see a triangle wedge pattern breaking out already, it could come back down for a retest and have a strong bullish momentum. There is also an Bullish Bat within the triangle wedge. The stop loss will be below the X leg and the first TP will be at .382 fibb level.
This bearish has a B point might that make it invalid, however the candle does close below the .525 ratio so it could also be valid. There is also resistance at 135.7. The stop loss will above the X leg. Risk 100 pips for about 340 pips max for this pattern. Lets see how this plays out.
I have measured out a valid Bearish bat and it looks like it can potentially drop down to 1.289 soon. The RSI is also very high. The stop loss will be above the X leg. Stop hunting may occur so it is good to place at least a 70 pip stop loss. Lets see how this plays out :D !
Practicing my Bearish Bat ratio. X to A will give us a B point of .382 to .50, A to B will give us a C point of .382 to .886, B to C will give us a D of 1.618 to 2.618 but it is slightly over. The final ratio should be from X to A and should give us the D point of .886. I am currently still learning and am definitely not an expert. This is the result I am hoping for.
