AUDJPY (Ending Diagonal, Butterfly Pattern and 2618) -4h
Updated
Ending Diagonal confirmations:
- 1 and 4 at same price
- 5 clear points
- take profits between 0.786 - 0.886
Butterfly Pattern confirmations:
- A-B must touch 0.786, but cannot exceed X
- B-C touches 0.382, but sometimes goes further (does not exceed A)
- ABCD formation. D has to reach outside X and touch 1.272 or 1.618
- TP 0.382 TP2 0.618 (Fibo A-D)
2618 confirmations:
- double top
- measure impulse
- retracement at 0.618
- TP at -0.27 and -0.618
Double Top + 0.618 = 2618
I expect price to go bullish towards 0.618 for 2618 bearish impulse, TP would be at -0.27 where I expect some type of pullback before bearish continuation from 50% to 0.786 -0.886 area, that's TP for Ending Diagonal.
Good Trading
- 1 and 4 at same price
- 5 clear points
- take profits between 0.786 - 0.886
Butterfly Pattern confirmations:
- A-B must touch 0.786, but cannot exceed X
- B-C touches 0.382, but sometimes goes further (does not exceed A)
- ABCD formation. D has to reach outside X and touch 1.272 or 1.618
- TP 0.382 TP2 0.618 (Fibo A-D)
2618 confirmations:
- double top
- measure impulse
- retracement at 0.618
- TP at -0.27 and -0.618
Double Top + 0.618 = 2618
I expect price to go bullish towards 0.618 for 2618 bearish impulse, TP would be at -0.27 where I expect some type of pullback before bearish continuation from 50% to 0.786 -0.886 area, that's TP for Ending Diagonal.
Good Trading
Note
First TP was reached and went bearishGood Trading. -4h Chart
Trade closed: target reached
-0.27 has been reachedGood Trading.
Trade closed: target reached
Ending Diagonal has been completed reaching 0.786 - 0.886 area where -0.618 is.
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