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EURUSD 15min Bear FlagEURUSD made a move down in the Asia Session and is now setting up a bear flag. I will only trade this to the downside. I will need to wait for a Break & Close out of the Flag before selling. Target #1 is the measure move of the flag's channel (Yellow Line). Target #2 is up to you. I use the next major Fib level for my Target #2's but some people like to use the length of the flag pole (Blue Line), it's whatever your Trading Plan says. Stops will go 1 ATR above Breakdown Bar.
Short
by PateSkpate
3
Short EUR/USD 15 Min Spike & Channel We had huge move down Thursday and Friday. I'm looking for a short continuation trade off the spike and channel .382 fib retracement at 1.1052 down to the 1.1000 level and a possible follow on target at the 1.272 ext at 1.0980. I would wait for price to test the 1.1052 level before going short. If price breaks through that level there are a couple of nice levels up at the 1.1108 - 1.1123 handle for a possible entry point for shorting. I would also front run the 1.1000 target by a few pips because of the psychological level. Good luck trading out there.
Short
by ChrisThein
1
GBPUSD 15min Bearish Bat PatternA potential short opportunity at the completion of a bearish bat. For a valid bat pattern I need: 1) 0.5 retracement of the XA leg but price is not allowed to touch the 0.618 retracement 2) At least a 0.382 retracement of the AB leg but price is not allowed to go beyond point A 3) Completion of the bat pattern at the 0.886 retracement of XA leg Short entry at the 0.886 retracement of XA leg. Stops need to go above X. TG1 is at the 0.382 retracement from point A to D. TG2 is at the 0.618 retracement from A to D.
Short
by dule85
1