not enough confirmations yet but do have a bat pattern completing. current uptrend. only condition is pattern and oversold
usdcad is on a current uptrend breaking previous structure. market is approaching a potential bat pattern. I drew out a kill zone (red box) at the end of the pattern to the 161.8 A to B to A extension. I also have drawn in where the latest 1 to 1 measured moved could end. Which happens to fall in the kill zone :). In the kill zone I shall look for a higher high...
cypher pattern in play. I was originally entered in trade at the double top(yellow bubble on chart) w/ rsi divergence (yellow bubble on rsi). If looking to enter now wait for potential double top. It would be the same entry as my original
A group I am in spotted this first just is more confirmation. I extended my kill zone to look for more confirmations.
Nice bat pattern. If you want to enter aggressively do so at completion of the pattern. You can also look for the rsi to be over sold in kill zone. You can also wait for a lower low lower close in kill zone for more confirmation.Very tight kill zone between 161.8 and bat completion. If you are move conservative you can look for a double top w/ rsi divergence .
potential gartley....the market is currently in an uptrend so there is a possible trend continuation trade. Target 3 is a trend continuation trade that profits are taken of at the A point of the gartley
Nice set up.... 161.8 and 1 to 1 measured move lines up with bat completion I will still look for one or two more confirmations. (oversold conditions, candlestick pattern, double bottom if you are conservative)
nice 1 to 1 measured move ending at gartley completion. If you want to enter aggressively do so at completion of the pattern. You can also look for the rsi to be over sold near completion. If you are move conservative you can look for a double top w/ rsi divergence .