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EUR.CHF - Bullish Bat Setup - 1.0663On the EUR.CHF Daily chart we have a potential long opportunity's at the D leg completion of bullish Bat setup. The price reversal zone on this pair is between 1.0663 & 1.0622 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move. There is also an opportunity to look for extended targets at 1.0939 Stop loss would be placed below X leg structure support. Target 1 - 1.0792 Target 2 - 1.0874
Long
by UnknownUnicorn180388
4
EUR.JPY - BULLISH CYPHER SETUP - 121.589On the EUR.JPY 4hr chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup. The price reversal zone on this pair is between 121.589 & 120.909 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets back into 123.518 Stop loss would be placed below X leg structure support . Target 1 - 122.544 Target 2 - 123.128
Long
by UnknownUnicorn180388
36
5 EASY STEPS TO TRADE THE BAT SETUPSTAGE 1: THE BULLISH IMPULSE LEG A bullish impulse leg is a strong move in price action to the upside. The impulse leg can be a mixture of bullish and bearish candles, but must have a bullish overall direction. The start of the impulse leg should be marked as X and the top of the impulse leg should be marked as A. STAGE 2: B LEG RETRACEMENT Now that you have identified your X to A impulse leg you are now looking for the B leg, which is a retracement of the X to A impulse leg. Take your Fibonacci retracement tool and draw from your X leg to your A leg. The crucial Fibonacci levels you are looking for are the 50.00% and 61.60% Price action must at least touch the 50.00% retracement but cannot touch the 61.80% retracement. As you can see by the illustration, the candle does not need to close below the 50.00% retracement but must at least spike through. The bullish Bat setup will be invalid if price action touches the 61.80% retracement of the X to A move. STAGE 3: C LEG RETRACEMENT Once you have identified a valid X to A impulse leg and a B leg retracement, you are now looking for a valid C leg retracement. Take your Fibonacci retracement tool and draw from your A leg to your B leg. The crucial Fibonacci retracement level you are looking for is the 61.80% Price action must at least touch the 61.80% but cannot spike above the A leg resistance. The candle does not need to close above the 61.80% but must at least spike through. The bullish Bat setup will be invalid if price action spiked above the A leg resistance. STAGE 4: D LEG COMPLETION Now that you have a valid X, A, B and C move you are looking for the final leg in price action at which point you will buy the chosen currency pair. Take your Fibonacci retracement tool and draw from your X leg to your A leg. You are looking for a 88.60% which will now give you a valid D leg completion of the bullish Bat setup. STAGE 5: PLACING YOUR TARGETS When looking to take targets on the bullish Bat Setup the first step is to use your Fibonacci retracement tool. With your Fibonacci retracement tool draw from the A to D leg, you are looking for target 1 at the 38.20% and target 2 at the 61.80%. To protect the profits you have accumulated at target 1 it is advised you move your stop loss to breakeven once the 38.20% target 1 has been attained, thus giving you a risk free trade to target 2. KEY NOTES & RULES: When trading the bullish Bat Setup, the pattern is meant to be traded at 88.60% D leg completion only. If you believe the pattern is unfolding but price is only at point B, be patient and wait until price reaches the D leg completion. The power of the pattern comes from converging Fibonacci levels of all points from X to D. Point B must at least touch the 50.00% retracement but cannot touch the 61.80% from the X to A move. Point C must touch the 61.80% but cannot spike above the A leg resistance. Point D is complete when price action touches the 88.60% retracement of the X to A move. Stop loss must be placed below the X leg structure support. Stop loss must also be a minimum of a 1:1 risk reward to the 38.20% target 1. Target 1 at the 38.20% retracement of the A to D move. Target 2 at the 61.80% retracement of the A to D move. CURRENCY PAIR: This setup like any other is more profitable with certain currency pairs, you should do your own back testing on this prior to trading. CANDLE COLOUR: Blue = Bullish Candle White = Bearish Candle DISCLAIMER: Please note I am only providing my own trading information and techniques for your benefit and insight, you should do your own due diligence and not take this information as a trade signal.
Education
by UnknownUnicorn180388
150
GBP.JPY - BEARISH CYPHER SETUP - 147.983On the GBP.JPY 15min chart we have a potential short opportunity at the D leg completion of bearish Cypher setup. The price reversal zone on this pair is between 147.983 & 148.456 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets at around 146588 Stop loss would be placed above X leg structure resistance. Target 1 - 147.316 Target 2 - 146.903
Short
by UnknownUnicorn180388
17
NZD.USD - BULLISH CYPHER SETUP - .7026On the NZD.USD 4hr chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup. The price reversal zone on this pair is between .7026 & .6970 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets back into .7200 Stop loss would be placed below X leg structure support. Target 1 - .7107 Target 2 - .7158
Long
by UnknownUnicorn180388
71
CAD.JPY - BEARISH CYPHER SETUP @ MARKET - 87.724On the CAD.JPY Daily chart we have a potential short opportunity at the D leg completion of bearish Cypher setup. The price reversal zone on this pair is between 87.724 & 88.779 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets at around 77.000 Stop loss would be placed above X leg structure resistance . Target 1 - 82.800 Target 2 - 79.717
Short
by UnknownUnicorn180388
34
GBP.CHF - BULLISH CYPHER SETUP - 1.2727On the GBP.CHF 4hr chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup. The price reversal zone on this pair is between 1.2727 & 1.2681 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets back into the 1.2875 resistance level Stop loss would be placed below X leg structure support . Target 1 - 1.2793 Target 2 - 1.2830
Long
by UnknownUnicorn180388
17
GBP.NZD - BEARISH CYPHER SETUP - 1.7662On the GBP.NZD 15min chart we have a potential short opportunity at the D leg completion of bearish Cypher setup. The price reversal zone on this pair is between 1.7662 & 1.7694 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets at around 1.7568 Stop loss would be placed above X leg structure resistance . Target 1 - 1.7617 Target 2 - 1.7588
Short
by UnknownUnicorn180388
37
NZDUSD - BEARISH CYPHER + HOW TO MANAGE THE TRADEThere is a bearish Cypher pattern on NZDUSD H1 timeframe with D leg completion at 0.71990. Entry: 0.71970 Stop: 0.72320 Target 1: 0.71690 Target 2: 0.71500 This is how I manage a trade like this. Before entry: 1) Set pending sell order a few pips below D completion (to improve likelihood of being filled) 2) Set stop 10-15 pips above X 3) Set profit limit at the 61.8% retracement of the CD leg After entry: 4) If price reaches target 1, close half of the position and move stop 1-2 pips below entry (locking in breakeven) 5) Do nothing, the remaining position is either stopped out for breakeven, or it moves lower to target 2. Making very specific trading rules helped me overcome the impact of emotions on trading decisions. I still feel bad if the trade is a losing trade, and good if a trade is a profitable one. But these emotions have ZERO impact on my trading. All trading decisions should be made BEFORE entering you position. If you have a questions leave them below! Luke
Short
by Beebags
GBP.USD - BULLISH BAT & CYPHER SETUPS - 1.2495 & 1.2459On the GBP.USD 1hr chart we have 2 potential trade opportunity's at the D leg completion of a Bullish Cypher & Bat setup. Bullish Cypher Setup ( Blue ) - D leg completion 1.2495 Target 1 - 1.2603 Target 2 - 1.2668 Bullish Bat Setup ( Grey ) - D leg completion 1.2459 Target 1 - 1.2580 Target 2 - 1.2655 Bullish Bat Setup: Stop loss would be placed below X leg structure support . Bullish Cypher Setup: Stop loss would be placed below X leg structure support .
Long
by UnknownUnicorn180388
45
USDJPY - BULLISH BATThere is a BULLISH BAT on USDJPY H1 timeframe with D leg completion at 111.740. Entry: 111.760 Stop: 111.250 Target 1: 112.880 Target 2: 113.600 This is how I trade a bat pattern. 1) Identify pattern completion point, D. 2) Place an entry order just above completion point. 3) Place stop loss around 10-15 pips below X. 4) Place profit target just below the 61.8% retracement of the AD leg. 5) If price moves up to the 38.2% retracement of the AD leg, manually close half the position and move the stop loss just above my entry to breakeven. 6) Do nothing. Either the market moves to my 2nd target or my stop. Good luck! Luke
Long
by Beebags
EUR.GBP - BULLISH CYPHER SETUP - .8360On the EUR.GBP 1hr chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup. The price reversal zone on this pair is between .8360 & .8304 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets back into the .8537 resistance level Stop loss would be placed below X leg structure support. Target 1 - .8440 Target 2 - .8490
Long
by UnknownUnicorn180388
46
EUR.GBP - BEARISH CYPHER SETUP - .8519On the EUR.GBP 1hr chart we have a potential short opportunity at the D leg completion of bearish Cypher setup. The price reversal zone on this pair is between .8519 & .8577 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets at around .8328 Stop loss would be placed above X leg structure resistance. Target 1 - .8436 Target 2 - .8384
Short
by UnknownUnicorn180388
78
GBP.JPY - BEARISH BAT SETUP - 144.328On the GBP.JPY 1hr chart we have a potential short opportunity at the D leg completion of bearish Bat setup. The price reversal zone on this pair is between 145.328 & 145.600 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Bat setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets at around 143.500 Stop loss would be placed above X leg structure resistance. Target 1 - 144.536 Target 2 - 144.085
Short
by UnknownUnicorn180388
41
EUR.JPY - BEARISH CYPHER SETUP @ MARKET - 122.627On the EUR.JPY Daily chart we have a potential short opportunity at the D leg completion of bearish Cypher setup. The price reversal zone on this pair is between 122.627 & 126.339 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets at around 112.611 Stop loss would be placed above X leg structure resistance. Target 1 - 117.437 Target 2 - 114.257
Short
by UnknownUnicorn180388
53