TomHall

AUD.JPY - Bullish & Bearish Bat Setup - 74.740 & 77.086

FX:AUDJPY   Australian Dollar/Japanese Yen
On the AUD.JPY 1 Hour chart we 2 potential trade opportunity's at the D leg completion of a Bullish & Bearish Bat .

Bullish Bat Setup ( Blue ) - D leg completion 74.740
Bearish Bat Setup ( Grey ) - D leg completion 77.086

Potential targets for both setups placed at the .382% and .618% retracement of the A to D move.
Bullish Bat: Stop loss would be placed below X leg structure support .
Bearish Bat: Stop loss would be placed above X leg structure resistance .


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this is the problem of harmonic , it can give you both and down . but like the 2 predications .
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TomHall TOP hussain9
In my opinion a trading plan should be diverse enough to take advantage of a bullish or bearish trend.
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yeah . as you can see from the chart , in harmonic it gave you a buulish bat at the beginning then it act against and go up as a bearish bat .this will make you act late as you are waiting for confirmation of B .
+1 Reply
TomHall TOP hussain9
The position will only be executed if price touches the D leg completion, so aslong as your analysis is in place, there shouldn't be any late or missed trades.
Reply
Even you can trade after reaching the D leg in the other direction using the fibonacci as price target .
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TomHall TOP hussain9
I don't mean to be disrespectful, but i am having trouble understanding your approach.
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snapshot
Reply
TomHall TOP hussain9
If you had of got long at the D leg completion of the bullish bat, then you would have taken target 1 & target 2 before the D leg completion of the bearish bat.
At no point would you have a long and short position at the same time.
Reply
waht I mean , is that D id not the end of the trade , you can trade with it for another pattern .
+1 Reply
ddp922 hussain9
Perfect entries in forex are very very rare. I myself. It's better to be late to the party then to be to early and get slaughtered.
+1 Reply
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