We got a missive win on this pair yesterday. Now, we have a big nice bat.
Two advanced patterns completes within 4 pips from each other.
A small cypher on AUDUSD. It reversed quickly towards targets but didn't reach them yet.
The b point almost makes a 38.2; so looking at this as a bullish bat pattern.
The one that got away. Your trade plan is important and we will not get in to early or chase a trade. We are patient and unfortunately we will have to wait this free fall out. We were looking for more of pullback to establish the position and didn't get it. That's trading! You can't get them all. If you've been short CONGRATS! The next round of beers are on...
The J6 is definitely weak and now has broken the April lows. This doesn't fair well for equities. If it stays below the most recent swing high then we could see more upside on the equities. The J6 didn't pull back far enough for us to initiate a short so we will keep looking for entries.
Bearish Bat @ USDJPY Last bat @ USDJPY was a looser. Here is where psychology comes into play, you must continue to follow the trade plan even if the last 10 trades were losers. Does this mean that this trade will be a winner? I have no idea. All I know is that I will keep executing my trade plan no matter what is the outcome I get. I will do some videos on...
Here is a bat pattern for you guys. - In about 3 weeks from now, I will start making videos explaining my trades and the rational behind them.
Will this level hold? The J6 has been dancing around for while now and I am sure it has eaten many accounts. However, now she has come down to test April lows. From this point we will nibble (small size) on any bounces looking for a break (and hold) below the April lows.
11 Aug - 18 Aug: 42 CNY to 22 CNY (-48%) 18 Aug - 21 Aug: 22 CNY to 38 CNY (+33%) 22 Aug - 23 Aug: 36 CNY to 29 CNY (-24%) 23 Aug in an hour: 29 CNY to 33.21 CNY (+13%) It looks like Litecoin will never die even with the strong competition of other alt coins. Its advantage is a huge acceptance in every China exchanges, every 1% swing in Bitcoin will result in...
The break down begins. We will look for the knife to stick in the ground around the 1.33 area before considering anything long. Stay tuned.
She keeps winding. No position but watching closely
Cypher pattern. Targets are adjusted for the violation of point D. Stop goes below X by the ATR of the entry candle. - I will soon start making videos explaining each of my trades and the rational behind them.
Keep the Euro on your radar screen. It's consolidating and will most likely move soon. She's come a long way so another move down could result in a snap back rally. If she breaks to the upside first look for a re-test of the break down lows.