EURUSD: Potential Bearish Bat Pattern (The Smaller One)
Hey traders, there are more than a few opportunities setting up on the EURUSD, this one is still a ways away from me taking it serious, but believe it or not, it's the smallest of the potential opportunities. (The bigger potential patterns are on the 4 hour and Daily charts)
What we have here is a potential bearish pat pattern which would complete at 1.1418. Now it's important that we don't pass up on other trading opportunities because of the potential pattern because there's no reason to be confident in the completion until the "B" leg is broken providing us with a NSH, HHHC.
Just like with the USDJPY trade last week (Minute 2:35 of this Video youtube.com/watch?v=OnzLKZhfSzM ) I'll be looking for a potential structure based trade at the structure level as well.
Hoping you guys have had a great trading week, and cheers to a great weekend.
Akil Stokes
Chief Currency Analyst at TradeEmpowered.com
What we have here is a potential bearish pat pattern which would complete at 1.1418. Now it's important that we don't pass up on other trading opportunities because of the potential pattern because there's no reason to be confident in the completion until the "B" leg is broken providing us with a NSH, HHHC.
Just like with the USDJPY trade last week (Minute 2:35 of this Video youtube.com/watch?v=OnzLKZhfSzM ) I'll be looking for a potential structure based trade at the structure level as well.
Hoping you guys have had a great trading week, and cheers to a great weekend.
Akil Stokes
Chief Currency Analyst at TradeEmpowered.com
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