Priceline of IOTA / US Dollar cryptocurrency has formed a bullish BAT pattern and entered in potential reversal zone.

This PRZ area should be used as stop loss in case of complete candle stick closes below this zone.

As in below figure we can see after initial leg the A to B leg is retraced 0.50 Fibonacci and for A to B leg of BAT we need retracement from 0.382 to 0.50 Fibonacci then B to C leg is retraced 0.644 Fibonacci and for perfect B to C leg of BAT wee need retracement from 0.382 up to 0.886 Fibonacci, then final leg from C to D is retraced from 0.786 to 0.886 and here we have a perfect BAT formation.

Now we can target the projection of A to D leg from 0.382 to 0.786 Fibonacci as below:

The buying and sell targets should be:

Buy between: 0.2673 to 0.2631



Sell between: 0.2772 to 0.2921

So this would be 11% potential trade.

XRP / USD:

The priceline of XRP / US Dollar has formed a bullish Gartley pattern and entered in potential reversal zone.

This PRZ area should be used as stop loss in case of complete candle stick closes below this zone.

After initial leg the A to B leg is retraced between 0.618 to 0.786 Fibonacci as required for Gartley and B to C leg is retraced between 0.382 to 0.886 Fibonacci which is a perfect Gartley's B to C leg then final C to D leg is retraced between 0.618 to 0.786 Fibonacci and here we have all legs perfectly driven for Gartley pattern.

Now we can target the projection of A to D leg from 0.382 to 0.786 Fibonacci as below:

Buy between: 0.29234 to 0.29081



Sell between: 0.29357 to 0.29644

So this is a good long opportunity on 2hr short term chart



Regards,

Atif Akbar (moon333)