EURAUD (Ending Channel and Bat Pattern) -4h
מעודכן
At left side we can se half a pattern, which I published 
After Butterfly Pattern price went bullish and until I saw some divergence in MACD I planned a trade, we can see how it's up trend on chart, but down trend on MACD. Right away I managed to find a pullback, I measured bearish impulse by placing 0.236 below pullback and got exactly 0.618 at top, perfect retracement for a sell to -0.618.
We can see how this entire consolidation is an Ending Channel
-5 points (Not that clear like an Ending Diagonal)
- respecting trendlines
- 0-1 same distance as 4-5
- take profits around 0.786 - 0.886 area
after to much consolidation there's always a clear impulse with this type of patterns (Ending Channel and Ending Diagonal)
Price retraced exactly at 0.886 and at this point I saw this Bat Pattern
- A-B must touch 0.5, but cannot touch 0.618
- B-C must touch 0.618, but cannot exceed A (FIbo A-B) or just keep an eye on that 0.236
- D completion at 0.886 (Fibo X-A)
- take profits at 0.382 and 0.618 (Fibo A-D)
I expect price to complete this Bat Pattern for bearish continuation.
Good Trading.
After Butterfly Pattern price went bullish and until I saw some divergence in MACD I planned a trade, we can see how it's up trend on chart, but down trend on MACD. Right away I managed to find a pullback, I measured bearish impulse by placing 0.236 below pullback and got exactly 0.618 at top, perfect retracement for a sell to -0.618.
We can see how this entire consolidation is an Ending Channel
-5 points (Not that clear like an Ending Diagonal)
- respecting trendlines
- 0-1 same distance as 4-5
- take profits around 0.786 - 0.886 area
after to much consolidation there's always a clear impulse with this type of patterns (Ending Channel and Ending Diagonal)
Price retraced exactly at 0.886 and at this point I saw this Bat Pattern
- A-B must touch 0.5, but cannot touch 0.618
- B-C must touch 0.618, but cannot exceed A (FIbo A-B) or just keep an eye on that 0.236
- D completion at 0.886 (Fibo X-A)
- take profits at 0.382 and 0.618 (Fibo A-D)
I expect price to complete this Bat Pattern for bearish continuation.
Good Trading.
הערה
Bat Pattern in 1h Chartformed a bearish Elliott impulse between A-B, as we know after an Elliott Impulse there's certain consolidacion before further movement, so I measured bearish impulse by placing 0.236 below consolidation and got exactly 0.618 as higher high for a perfect sell towards -0.27, which is around 0.886 retracement for D completion.
I expect price to go bullish at this point, fibonacci measurements have been modified with two take profits (on chart)
Good Trading.
הערה
Bearish impulse has been completed by reaching 1.618Good Trading. - 4h Chart
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