We can identify 2 advanced patterns
- MGP ( Mirrored Gartley Pattern ) ( violet color ) completing around 0.69193 giving us an opportunity to go long, in a major structure level ( look left ) , and in which stops should go the previous structure low to ( around 0.67890 )
- Butterfly pattern ( orange ) : looking for a short opportunity in the red zone ( delimited with two important resistance lines ) ( look left for structure )
Note : wait for a confirmation ( candlestick patterns, violating recent structures in a lower times frame .. ) and getting a sense of shifting in momentum with RSI or your stochastic indicator ...
IMPORTANT : This is just a part of an overall systematic process ( a map ) including other elements ( fundamental analysis, analyzing data and reports, COT readings, correlation trades, money management )... etc . Charts are NOT a place to get trading ideas or to start an analysis .
- MGP ( Mirrored Gartley Pattern ) ( violet color ) completing around 0.69193 giving us an opportunity to go long, in a major structure level ( look left ) , and in which stops should go the previous structure low to ( around 0.67890 )
- Butterfly pattern ( orange ) : looking for a short opportunity in the red zone ( delimited with two important resistance lines ) ( look left for structure )
Note : wait for a confirmation ( candlestick patterns, violating recent structures in a lower times frame .. ) and getting a sense of shifting in momentum with RSI or your stochastic indicator ...
IMPORTANT : This is just a part of an overall systematic process ( a map ) including other elements ( fundamental analysis, analyzing data and reports, COT readings, correlation trades, money management )... etc . Charts are NOT a place to get trading ideas or to start an analysis .
Trade active:
The position is opened , after a confirmation ..
Trade closed: stop reached