AUDNZD: Potential Bull Bat in the 4h chart Long

Australian Dollar/New Zealand DollarFXCM

Description

⋅ Sep 14, 2014 9:22 AM

Nice Fib Confluence, D would be also exactly 1.618 of AB. Also a nice risk reward and support of the even handle 1.09 in the stop area

Comments

UnknownUnicorn107271

⋅ Sep 14, 2014 11:50 PM

Hi Wendelin,
Are you using the pattern recognition software or manually seeing all your patterns?

WendelinProbst

⋅ Sep 14, 2014 5:12 PM

Thanks fiboholic. I Trade 15-20 such Patterns per week each with the Same amount of Risk ( Size * distance to stop = 0.33 of my Capital) Its all about probabilities, Risk reward and hitrate. The least depends in the market which is 70% of Time in consolidation and 30% of Time trending. And of course spotting and choosing only the best Patterns. So i don't care what the outcome of one partikular Trade is, > 15 Trades It Begins to become interesting. As in Las Vegas the Casinos Don' t Care if one Gambler wins or looses.... So I am also Fine if this partikular one fails. Pattern did Not work so well during the Last 2 weeks but that normally changes quickly so no reason to change anything. My hitrate is already trending up again :-)

Fiboholic

⋅ Sep 14, 2014 9:34 AM

Nice analysis! good luck