Hi Traders, didnt get a chance to post this up before we hit the D Completion. I was actively managing my portfolio and had about 10 or so orders sitting waiting to be filled yesterday. When having a 7 pair portfolio. We need to ensure to stay on top and dont miss our opportunities, consistency is key when trading advanced patterns and actively managing them during the trades to ensure we adjust our targets on D completion.
Anyway here is a BAT Pattern where we have hit our entry, and possibly a D completion. For those who trade this pair you may look for a retest of our D Completion to get short in this trade it may provide a better R:R if you get involved higher than the 88.6%
I have changed targets on this trade, based on previous structure and what appears to be no real signs of bullish or bearish. Somewhat consolidation moving sideways, some breaks and close above and below previous structure. This is usually the prime opportunity for pattern traders until we see an actual breakout where it either goes against us or for us with extended targets.
After performing a top down analysis it is showing signs we may see EURUSD start to break to the upside so hopefully we can find that bullish entry through next week. Obviously we want this pattern to complete at our targets, but I guess thats trading. We expect losing trades but more winners than losers
As always Entries, Stops and Targets are on screen.
I am an aggressive advanced technical analysis pattern trader, so I always enter at the 88.6% for BAT. I like this style it suits me just perfect, there is no subjectivity and of course my back test forward test and live results showed me why.
Stops are always above our X Leg - make sure you check these stops are within your rules.
Targets are usually TP1 38.2% and TP2 61.8% CD Retrace - in this case I have changed my targets to TP1 38.2% and 61.8% AD Retrace but I will actively manage this during the trading, I would look for a retest of the A Leg if price falls below 50.0% AD Retrace - if we hit the 50.0% I would look to trail my stop for extended targets and a potential break below our A leg. If we do get a break and close below I would then look for a target at the next retest of the lower structure.
Hope this makes sense,
Or if we go past the X leg - well then its all over, Pattern will be invalid and we would no doubt be stopped out, and then we look for our next entry.
Enjoy your week and Happy Trading
Anyway here is a BAT Pattern where we have hit our entry, and possibly a D completion. For those who trade this pair you may look for a retest of our D Completion to get short in this trade it may provide a better R:R if you get involved higher than the 88.6%
I have changed targets on this trade, based on previous structure and what appears to be no real signs of bullish or bearish. Somewhat consolidation moving sideways, some breaks and close above and below previous structure. This is usually the prime opportunity for pattern traders until we see an actual breakout where it either goes against us or for us with extended targets.
After performing a top down analysis it is showing signs we may see EURUSD start to break to the upside so hopefully we can find that bullish entry through next week. Obviously we want this pattern to complete at our targets, but I guess thats trading. We expect losing trades but more winners than losers
As always Entries, Stops and Targets are on screen.
I am an aggressive advanced technical analysis pattern trader, so I always enter at the 88.6% for BAT. I like this style it suits me just perfect, there is no subjectivity and of course my back test forward test and live results showed me why.
Stops are always above our X Leg - make sure you check these stops are within your rules.
Targets are usually TP1 38.2% and TP2 61.8% CD Retrace - in this case I have changed my targets to TP1 38.2% and 61.8% AD Retrace but I will actively manage this during the trading, I would look for a retest of the A Leg if price falls below 50.0% AD Retrace - if we hit the 50.0% I would look to trail my stop for extended targets and a potential break below our A leg. If we do get a break and close below I would then look for a target at the next retest of the lower structure.
Hope this makes sense,
Or if we go past the X leg - well then its all over, Pattern will be invalid and we would no doubt be stopped out, and then we look for our next entry.
Enjoy your week and Happy Trading
Comment:
TP1 TP2 Adjusted after D Completion - target 1 hit
Comment:
Well that was short lived, stopped out for break even on TP2 +30