Hi All, potential long opportunity here with a small BAT pattern. If price falls to our entry level and we dont get stopped out before price reversal - I would be looking to extend TP2
If we hit our TP1 we would move our second entry stop to break even. When we have a clear indication of price action continuing upwards and a retest of the structure A Leg we would move our stop to the standard 61.8% TP2 level then shoot for extended targets without losing out on our TP2 level.
As always happy trading lets see if we get an entry on this before price continues upwards.
Happy trading
If we hit our TP1 we would move our second entry stop to break even. When we have a clear indication of price action continuing upwards and a retest of the structure A Leg we would move our stop to the standard 61.8% TP2 level then shoot for extended targets without losing out on our TP2 level.
As always happy trading lets see if we get an entry on this before price continues upwards.
Happy trading
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This pattern is still valid and we seemed to have formed a GARTLEY in this same ZONE - Gartley entry is in a perfect scenario 78.6% XA Retrace, perfect AB=CD and 127.2% Fib Ext from AB
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Order Filled
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TARGET 1 HIT Stops rolled to break even for TP2
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Hahaha TP2 stopped out for break even on the BAT Pattern and yep what happens. I will still watch if it hits the 112.900 Extended target area.