There is a bullish deivergance in the 15 min chart, waiting to get the hiest bullback point then go short in this trade
This trade will be updated shortly with the entry point, stoploss and target levels
Updating.... I'll go short once the price touch the 38 Fibonnaci level which is 132.75, with a stop loss: 132.98, and Take profit at : 132.22
Updating.... Now the trade going in our direction, I'll move my stop loss to break even, now I have a free trade there is no loss, I hope there are many traders with me in this nice trade.
Updating.... DONE, this trade closed by touching the take profit level, nice one
If you're going to trade using your own money, you have the full resposebility to accept the possible loss, we're not responsible for any loss you may have.
This trade went with a very good target level, it was a Gartley pattern, the pattern started at 1.5240, and ended at 1.5102, with a resistance at 1.5171 and support at 1.5131.
Using our online chart tool we found that the reverse price will be between 1.5196 and 1.5211, and as we expected the price reversed at 1.5204, and targted the price 1.5078, which was a very good price for me to close the trade.
The image below includes all the data and numbers, pay attention to the reverse area, this is the most intersting place in the trade. Using this tecknique with a good money management will drive you a good profit.
Our tool will you to recognize and calculate the correct forex chart pattern among a lot of waves that could miss lead you to a wrong trades, market moves is vary, sometimes it's so strong that you can't catch the trade or even think about it, and sometimes it's so slow, here we'll try to help you to find the wave that you can use to build your pattern with, then make the correct trade.
Trading using Fibonacci chart pattern is very successful trading method, a lot of people using it around the world and it works, the most big advantage of using pattern to trade is that you have a very specified levels to trade with. If you haven't that levels identified clearly then you have no trade and forget about it and wait for the next pattern.
When you make your setup successfully and you have a pattern according to the predefined Fibonacci levels, then you can put your loss stop, entry point and target levels so easily. With a simple money management plan you can make it easily, again using the chart pattern levels smartly will help you to success with chart pattern trading and make a good profit.
Our main concern here to use the Fibonacci Calculator to recogninze Gartley pattern, Bat Pattern and butterfly pattern.