Hi All,
Here we have a BAT pattern formed on the GBPAUD, if you used the X Leg from the lower structure appears we have hit 88.6% Entry already. I used the previous structure point as my X Leg based on my rules.
Entries to be at 88.6% From XA
Stops are above X leg at which ever you choose for your stop level whether it is based on pips or based on a FIB Ratio but must be above previous structure X Leg
Targets are initial targets based the the D Completion. So if we have a reversal above the 88.6% Targets are to be moved up at at 38.2 and 61.8 using fibs from AD Completion
Stop are also to be moved to break even as soon as our target 1 is hit.
If the price action moves beyond X this pattern is invalid.
Enjoy and happy trading
Here we have a BAT pattern formed on the GBPAUD, if you used the X Leg from the lower structure appears we have hit 88.6% Entry already. I used the previous structure point as my X Leg based on my rules.
Entries to be at 88.6% From XA
Stops are above X leg at which ever you choose for your stop level whether it is based on pips or based on a FIB Ratio but must be above previous structure X Leg
Targets are initial targets based the the D Completion. So if we have a reversal above the 88.6% Targets are to be moved up at at 38.2 and 61.8 using fibs from AD Completion
Stop are also to be moved to break even as soon as our target 1 is hit.
If the price action moves beyond X this pattern is invalid.
Enjoy and happy trading
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.