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
Thank you for your continued support and don't forget to click the thumbs up button for future updates and more trade ideas!
Trade active
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:
Related publications
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.
Related publications
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.