I believe I have found a desending "U" not sure if the pattern has yet complete, waiting for the price to continue down towards the last level of support. From there I will decide if the key levels of support and resistance fit my trading plan.
Chris drew up a nice bat as shown here, all I have added is targets for a small short that he could perform before looking upside to the Point of Control. However this may invalidate and proceed past the .236 up towards 119 area, disregarding the pattern. Note: This was based on one of his old patterns since deleted. He's got a new one uploaded.
RSI, Stoch, EMA for direction of trend. Support and Resistance levels for cues as to where to place targets.
Is this making higher highs? Or perhaps a change of direction?
It fits ratio confluence. Perhaps it'll hit my .382 target, or it could just roll over here as it stands.
Found this "Bat" today and decided to trade it after loosing out to this pair going long earlier. Nice little target hit 382 and 618.
I can see from the RSI, volume and structure, a possible correction before an upside move. I would like to get in on this from Monday morning, although if it breaks to the upside I may have to wait it out.
This was a test of todays scalping method. Only just started using "zones" to look at potential reversals to get back into.
I've decided to cut my losses in the event of a bounce and took profit for my first trade of the day, looking to get back in long in 12-24 hours time. I thought that if there was a likelyhood of a bounce then I'm better taking my profit. If a bounce doesn't happen it simply will invalidate my thinking and I will re-evaluated.
I call this, "The Mess" trying to work out structure. Looking at daily trends to trade the hour. As you can see here, I had no idea what I was doing. But it's coincidental that the market has slipped in between where I reckoned it could bypass upside or downside.
My final setup for the EURJPY. Waiting to see what happens, if it goes past the support level I'll be shorting, else going long at 113.14
Found a daily Gartley here, take profit 1 is 113.65, take profit 2 at 114. Not entirely happy with it as the pattern is just before news that may break the pattern.
This is a little sheet you can print that I put beside my desk. It has the pattern name, where to measure it on the chart, and the rules. If you need anything, or want the text bigger I'm sure I can make a new one. Happy Trading! Changes: Removed Twitter details because it violates house rules.
Looking for a short-term, short side position into structure at 1.04173 in line with a possible retracement to the downside.
Opened Trade at 1.03707. Take Profit 103203
I want to try this potential butterfly, stops at 134.700. Target 1 135.39 and Target 2 135.87