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 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 is a nice Trend Continuation Trade on GBPJPY. Made a deep retracement right back into the previous structure level which is holding. Great opportunity to enter a low risk short position with the overall bearish trend. Target would be a retest of previous lows and could use an advanced target to shoot for a 127.2 extension
Potential Cypher pattern EURCHF 4H close to completion. Pay attention for .786 retracement being hit to make it a completed pattern. Looking for 2 targets both with underlying 4H market direction (bullish)
Just been entered into an NZDUSD Bullish Bat! A little late with the publishing of this but only recently had time to check my charts.
Entry according to my rules is at the 88.6% retracement, however of course follow your specific and tested rules. Aiming for both T1 and T2 with this, and a relatively small pattern for this timeframe so shouldn't pose...
The markets are expected by me to go wild over the next few days/weeks. Expectation is not prediction in my philosophy. . There is likely to be even greater uncertainty about the economies of the world. When there is deep uncertainty, people reach for tangible ways of protecting their store.
There is considerable risk that the global Ponzi scheme may come...
USDJPY 4H has just put in a nice Cypher pattern. I was actually involved in this last night when the 0.786 retracement of X-C was hit, however this morning it has pushed slightly lower and is still valid. As a result, you're getting a better Risk Reward on this pattern.
Will be looking for the usual double target positions and rolling the stops from...
Here we have another potential Bullish Bat pattern forming on EURUSD 4H. Above a 1:1 Risk Reward on this pattern. We haven't quite broken below the B leg which would suggest a press lower to out D completion, however the overall bearish momentum in this pair would suggest a press down into out D point.
Will be keeping an eye on this pattern and...
1. Slightly late posting this position but we got long at 104.5 earlier today. The rationale behind owning USD VS JPY is as follows.
USD risks are bid
1) in the run up to the 2015 dec hike USD traded extremely bid with DXY breaking through 100, based on the last 2wks i expect USD to mirror 2015 and continue the bid tone we have seen both in 2015...
Been a while waiting for our next trading opportunity but the important thing here is we don't try and force a trade. We currently have an at market Bat formation on EURJPY 4H, providing us with a 1.5 R:R to target 1. Will be looking for a press to the downside and the nice indecision candles around this area suggest selling pressure.
As always, trade...
Just found an at market Cypher pattern on AUDUSD 4H following our loss on this pair last week. I actually missed the conventional .786 entry however the pattern is still valid as X @ 0.7680's hasn't been broke. This is actually giving us a much better Risk Reward, especially for a Cypher pattern. Note - if X had been broken this would be an invalid...
Woke up this morning and noticed a smaller Bat pattern forming on the 4H chart. Although we haven't broke and closed above the B point yet, we have pushed higher - will be waiting for the candle close. Still have my orders placed on this as we could spike up and get filled.
Looking at a nice Risk Reward and a relatively small stop loss for the 4H chart....
1. Based on the last 16yrs of daily close data (since 01/01/2000 to date) XAUUSD has a cumulative probability of a =>7th day lower at 0.3%, hence there is a implied 99.7% chance of reversal on the daily.
2. Technically there is also some nice structure about the 1250 level.
3. Fundamentally I think risk is priced very cheaply here, although...