After having a great 2 target winning bullish bat, we now have an at market completion of another bearish bat. Again, will be looking for the usual 2 targets and will be traded EXACTLY the same as the previous bat - remember to trade your plan, and to 'robotically' trade those rules that youve backtested.
Will be paying attention to this later today and ...
Potential Bearish bat forming on GBPUSD. Price has broken the B leg so should expect the pattern to complete soon. Will be looking for the usual 2 targets and using a 113% stop loss.
Let's see what happens over the next few days!
Heres a Bat pattern that I forgot to publish but was a trade taken. It's a small Bearish bat pattern on USDJPY. We managed to roll over very pain free to target 1 however then moved back up to break even stopping us out.
For those who don't know, I like to trade 2 positions per trade with 2 targets. Once target 1 is hit, I then move the stop loss on ...
Here is a potential short Cypher pattern forming on AUDUSD 4H. It still has quite a while to go however we are now on the final C-D leg and looking to break above the B leg structure point.
If we do get a pattern completion, we will be looking for the usual 38.2 and 61.8 fibonacci targets. The risk reward on this pattern gives us approx a 1:1 to target ...
Just found this at market Cypher pattern on AUDUSD, It did complete a little earlier but is still valid as the X leg hasn't been broken. Will be looking for the usual 38.2 and 61.8 targets, and the stop loss I have on this is the 113 fib. Risk Reward is actually pretty good for a Cypher, as normally it's slightly less than 1:1!
Will be looking for a ...
Here is an at market Cypher pattern that has just completed. It's quite a large one so if you're trading this make sure you can handle that much risk!
The Risk Reward is pretty average on this trade, but with such a high win ratio it's a trade worth taking to me.
Will be looking for 2 targets to press lower into next week.
Here we have a Bat Pattern on EURJPY getting pretty close to completion. I've drawn in the 2 target levels I would be looking to take profits being the 38.6 and the 61.8 fib retracement levels. I'm using a 113% stop on this and it's giving a great risk reward as can be seen - which is usually the case for Bat patterns.
We have already pushed above the B ...
Been a little quiet in the markets lately for me with my patterns - but as long as were not forcing trades that's completely fine. Seen a potential Bat pattern here on NZDUSD that's still a while from completing, however I always like to draw them on early so I can easily see them later.
I will become a lot more interested if the green dotted line ...
Heres a recently completed Bat pattern we were entered in Long this morning. This completed just above the 88.6% completion zone so you may or may not have been filled on this depending on your broker and spreads.
Will be looking for a usual push up to a 38.2 and a 61.8 retracement of A-D. We've started to make a move in that direction with some buying ...
Here we have a Bullish Bat pattern on EURJPY that is pretty close to completing. I've drawn on the two normal targets I would take (and do take) on all my bat patterns, but there could also be the potential for an extended move higher into an even bigger bat pattern completing so it depends with what you're comfortable doing.
I'm using a usual 113% stop ...
Potential Bat pattern here with the underlying trend. Gives us a good Risk Reward based on a 113% X-A stop loss. Targets are a 38.2 and a 61.8 retracement of A-D - Cannot complain with 1:2.5 to target 2.
Pattern still needs to push a little lower until it can be considered valid though so will be paying attention to it later today and if not the start ...
Here is a potential Bat pattern (The one in orange) getting pretty close to completion on USDJPY 4H. Gives us a great Risk Reward on this due to the 'messy' nature of the pattern legs - a 1:1.5 on target 1 alone!
Will be looking for a completion of X later on today. Stops are placed quite nicely as well above the X leg.
Here is a potential Bat Pattern setup on USDJPY 4H chart. It's currently at a decision point that I play close attention to. We are currently at the B structure zone and the market is putting up some resistance. I like to pay attention to this zone as if we do indeed break and close above this level there is a much higher chance of the trade ...
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 an at market Bat pattern on EURGBP. This is a 1H pattern against underlying trend but remember to follow your rules.
Will be shooting for a fixed 382 and 618 target on these. Gives us a pretty good RR too.
Haven't seen much activity in the markets this week. Checked NZDUSD this morning though and found an at market Cypher pattern. This pattern has already pressed lower than the .786 retracement entry but is still valid which means we can get involved with a better risk reward.
Only a small risk on this trade so should be open to most traders. This is also ...