EURCAD has completed a bullish bat in the PRZ of a larger TF bullish Gartley pattern. Using a smaller TF pattern to enter allows for a more optimal R/R because we can use the SL for the smaller TF (precise entry) and the larger TF to determine bigger profit targets. To add to bullish bias, an unhit monthly pivot sits above price close to the position of .382CD. SL is placed below bat X with targets at the unhit November pivot and .618CD.
Confluence in the PRZ:
Bullish Gartley pattern completion
AB=CD (Gartley)
Bullish bat pattern completion
3BC Projection
Unhit monthly pivot above price
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Dagangan aktif
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Bat PRZ has been entered and trade is active. I should also note that there is a bullish Gartley pattern on the same TF as the bullish bat which has a confluent PRZ and target area:
Let's see how price reacts to resistance from the Bat X point
glennmercer
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A great example of finding peace of mind in your SL. Even when things feel grim and your entry is being tested, there's a reason why we place SL below X in a bat pattern and so far price action has respected its support. Let's see what happens today.