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USD.CAD Bearish Bat 4hr explainedOn the 4hr chart there is a bearish bat pattern I am looking to go short in at D leg completion. If you look back a bit you can see price has bounced off this zone several times which indicates price action may follow. Look for other signals such as an oversold RSI to get you a better entry. Stops above X leg, personally I use an ATR based stop but you can do a 1:1 risk reward or whatever fits your trading plan. Targets are at the 38.2 and 61.8 of c to d. Just to disclaim this is just advice and by no means should be taken as something that will guarantee you too make profit, always follow what is in your plan.
Short
by kingzark
Target 1 Bat Pattern WinnerHey all, 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 target 2 to break even so it becomes a risk free trade. Still bagged us a nice +47 pips. Fibsii
Short
by FIBSII
AUDUSD Potential CypherHey all, 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 1 and 1:4 to target 2 so it's pretty good! Will be watching this pattern moving into next week, Fibsii
Short
by FIBSII
Potential BatHey all, 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 becomes broken (the lowest point of the B leg) which signals a break of structure downwards. This means the pattern is much more likely to complete based on my experience. Will be paying attention to it for the rest of this week. Fibsii
Long
by FIBSII
Bullish Bat EURJPY 4HHey all, 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 loss which is giving me a good risk reward. Hopefully on Mondays open of the markets we will get a push down into completion. Any questions just ask or send a PM, Fibsii.
Long
by FIBSII
NZDUSD Long CypherHey all, 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 a pattern following the underlying trend so would be hoping for further bullish movement. Keep an eye out, Fibsii Team
Long
by FIBSII
VNDA Descending Triangle Pattern. Short (and Long) Opportunity.Simple probability set up. Triangle downtrend started in 11/2016 and VNDA has only been through one full harmonic trend (wave) ever since. Second wave downward move imminent with RSI confirmation @ 35 and bearish $13 target. However, aggressive long entry for quick profit ($15 bullish target) especially with upcoming earnings. Upon $15 target, (expected RSI >50) short for mid-term trend follow. Quick Long Target: $15 First Short Target: $13 Second Short Target: $11.50 Total trade should complete by/in April.
NASDAQ:VNDA
by AtoHoward
EURNOK - UPTREND FORMING(?)This post is a bit hypothetical and completely out of character for me, because I usually trade after I've received complete and total indication that moves are going to play out in my favor, but I've seen this pattern play out so many times that it seems silly not to at least make you guys aware of a possible way this pair could develop. I see an uptrend forming here, considering the strong RSI, as well as the recent bounce off of the support. Keep an eye on this one, and get in if you feel comfortable.
Long
by Phoroneus