Try too find entries on the support zone on smaller timeframes. Good structure level on both patterns.
I wont trade this too the short side yet, cause im waiting for the weekly bearish bat too complete. If i had too choose wich pattern i would go for the bat with a short stoploss, because the cypher pattern completion will make a new higher high.
It broke throug the support level a few days back, and now its coming back too test it. Its a nice sell down too the completion of the bullish bat.
Bullish Shark and Bullish Bat entry at a good support zone. Good RR on this trade 8:1, it may go higher as i want the Bearish Bat on the daily too complete.
GBPCAD have filled the bearish cypher on the weekly chart. I see a possibility to enter a sell trade on the countertrendline break with the diverges on macd,and overbought condition on rsi, this could be a nice trade :) Could drop 200 pips too even alot more.
From 103.238 area we should see a long good drop into the 93.550 support zone, it may even go further than 950 pips on this move.
Buy Entry : 1203.15 TP1 : 1275.43 TP2 : 1319.93 SL : 1151.16
Impulse leg down and retracement back too 50%, it also have some decent structure level on the 88.6% ratio.
Gartley was hit on the 78.6 ratio, i usually take the ride from the 1.272 extension from A too B so i didnt get involved with the gartley. Im looking too sell the shark pattern if it plays out.
In past history the prize has jumped of this strong S/R several times before breaking it, since this has happend countless times before, il be looking for some buying opportunities up too the entry of the bearish bat.
AUDCAD has a good resistance zone in that area. It will take some time before it reaches this area, so i would look for some buying opportunity and take the ride up too the Entry of the Bat Pattern ENTRY : 1.05381 SL : 1.07943 TP1 : 1.00156 TP2 : 0.96917
1.13 is a good resistance zone if you backtrack the chart too 2012. ENTRY 1.98145 SL 1.99338 TP1 1.96079 TP2 1.94802
EURJPY Bullish Bat Entry or Bullish Cypher Entry If we look back at the weekly chart, we can see in 2009 and 2005 the 78.6 ratio support is greater than the 88.6 ratio. If you decide too go with the 88.6 ratio, you might miss the chance too get involved with this trade. Entry Buy : 137.839 use two half positions SL : 136.222 TP1: ...
Pattern got a good support zone down at the 78.6 ratio