Markets have been a little quiet for me over the last few months. However, here we have just been entered in a Long Bat Pattern on EURUSD 4H. Already had a spike into the green however hoping for a move up into the 38.2 and 61.8 retracement levels for our take profit levels.
Will be looking forward to seeing what happens with this in the week!
Here is a bullish Bat pattern at market. I have labelled the legs that stand out to me and also drawn in the C-D Fibonacci retracement to show where targets are taken. Trading 2 positions and aiming for 2 different target levels.
Stop loss above X at a 113% Fibonacci retracement of X-A. With underlying trend so could aim for a third target at a retest...
Here we have a just completed large Cypher pattern at market on EURGBP 4H. In line with underlying market trend and looking for .382 & .618 Fibonacci targets of C-D leg. Using a 113% stop loss which doesn't give us a 1:1 R:R on T1 however with positive expectancy above 60% this doesn't effect profitability - plus T2 will make up for it!
Here we have a 4H Bat pattern in yellow which I've been watching for a few weeks. However, when we go down to the 1H chart there is an at market Bullish Bat which would bring us up to the 4H completion zone. Gives us an opportunity to run for a third target with a great Risk Reward (4.7!)
Here we have a potential Bullish Bat Pattern forming on USDJPY. the C-D leg is in a small period of consolidation, however hoping for a press lower to complete the pattern (a break of structure where the green line is). If we get this the pattern is more likely to complete.
Will be looking for 2 targets which gives us a strong Risk Reward. Given the...
Potential Bat pattern forming on USDJPY at the moment. Following the recent drawdown on this pair I would be expecting within the next few trades to start picking up. Unsure if this will complete as we are in an overall bull trend, however will be paying attention over the week to see what will happen. Key point to look out for is the breaking of the A...
Been watching this potential Cypher pattern for a few weeks now on the 4H chart. The C-D leg cannot decide if it wants to head towards the completion point or not. Until the C leg is broken however this is still a valid Cypher. Given the recent shift in trend I would be expecting a move up the upside, however following your rules always comes out on...
Following the recent T1 and T2 Cypher pattern win on AUDUSD, another Bullish Cypher is forming. Unsure if the X leg will complete however it is on the radar for this week. If the X completion is hit I would be expecting a move up to T1 and T2.
Nice stop placement on this one below previous structure lows of both patterns, and a good Risk Reward given...
With the recent shift in momentum on AUDUSD, the C-D leg on a bullish Cypher has almost completed. I have my limit orders set incase this pattern completes overnight. Looking for a 2 target TP, given the inverse R:R. Remember however, Cypher patterns have a high expectancy even though they sometimes have an inverse Risk Reward.
Will be paying attention...
We have just been entered long in a Bullish GBPUSD 4H Cypher pattern formation. Not a bad Risk Reward for a Cypher too. The potential problem with this one is the size, were looking at over a 150 pip stop loss.
Have recently put in a nice pair of candlestick formations at our X completion, suggesting there is at least buying pressure. This pattern is also nice as...