AUDCAD@ A Pending and a Completed Harmonic Pattern

Price is moving in a rising channel, into a corrective structure. In the chart we see that we have a bearish bat pattern completion. Besides there is also a pending bullish gartley with CD still incompleted. A potential move to the down testing the bottom trendline of the channel will complete the gartley, giving also a very nice profit.

I will trade this setup enetring with three positions. Stop loss will be above X point of bat but a little higher to be above the upper trendline. As for profit targets as shown at the chart. If price reaches first target i move stoploss at breakeven at the second and third one.

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Trade fermée: cible de profit atteinte:

First target reached, we move stoploss to breakeven. We are to close to second target.

Trade fermée: cible de profit atteinte:

2nd target reached. One more for a 100% success to this one..

Commentaire:

3rd profit target reached. 100% success to this setup..!

Trade fermée: cible de profit atteinte:

3rd profit target reached. 100% success to this setup..!