EUR/AUD HARMONIC PATTERN COMPLETION IN BOTH DIRECTION
Hi there,
I found a really great opportuniy in the EUR/AUD 4H.
The best part? It's executable in both direction.
Here are those harmonic pattern completions:
1. Bat Pattern Completion at the 0.886 Retracement with target at 0.382 retracement that comes right at structure (Given that this trade has a bullish bias in the HT. I only shoot for the 0.382 retracement). SL goes above the X point at 1.18 Fib Inversion of the X-A leg.
2. Gartley Pattern Completion at the 1.382 Fib Extension that comes so deep, almost right at strucure. Given the bullish bias at the HT, this time I go for the 0.618 Fib Retracement as target and place SL below the 1.618 Fib. Extension at the 1.13 X-A Fib. Inversion. That gives me a roughly 3:1 Reward/Risk ratio and allowing me to use a more agressive position sizing strategy.
So that's my plan, what do you guys think?
Hope this one helps you bulding more cases for your entry.
Regards.
Fedro Christian.
I found a really great opportuniy in the EUR/AUD 4H.
The best part? It's executable in both direction.
Here are those harmonic pattern completions:
1. Bat Pattern Completion at the 0.886 Retracement with target at 0.382 retracement that comes right at structure (Given that this trade has a bullish bias in the HT. I only shoot for the 0.382 retracement). SL goes above the X point at 1.18 Fib Inversion of the X-A leg.
2. Gartley Pattern Completion at the 1.382 Fib Extension that comes so deep, almost right at strucure. Given the bullish bias at the HT, this time I go for the 0.618 Fib Retracement as target and place SL below the 1.618 Fib. Extension at the 1.13 X-A Fib. Inversion. That gives me a roughly 3:1 Reward/Risk ratio and allowing me to use a more agressive position sizing strategy.
So that's my plan, what do you guys think?
Hope this one helps you bulding more cases for your entry.
Regards.
Fedro Christian.