eXcess0070
Long

AUDUSD Bat pattern complition

FX:AUDUSD   Australian Dollar/U.S. Dollar
238 3 3
After our first gartley pattern failed we anticipated that a posible bat pattern would form, now the pattern just completed.
this is also a high prob trade it goes with trend direction, the "D" leg of the pattern ends exactly at a major structure level ( resistance turning support ) and showing RSI Over sold with Divergence.

As I always say a failed pattern is NOT a bad pattern or a bad trade, it is just a trade that wasnt a winner, CONSISTANCE IS KEY if we get involved with high prob trades like this one, we will end up positive. remember this is a long term journey las month I had 8 consicutive losses but becouse of my 2 on 1 Risk Reward I was able to be positive las month. I risk 1% and shot for a 2% reward, so we don't need to be right everytrade.
hi whats now for this pair? will be go all the way up to 9.46? then 9.5?
Reply
eXcess0070 Sam0101
Hi, I don't know, no one knows. but if you look at the bigger picture,the market is in a downtrend and still is. tecnicaclly speaking nothing is telling me that this will go north in a long term. in the small timetrame if the market wanna go north, it gotta break a strong resistance zone, its already showing RSI Over sold condition with Divergence and forming a tripple top. and even a break of a trendline and a retest of it. everything is telling me bearish, I would bet that the market will go to 9.93 or even 9.92, if it break to the upside I would spect a the market to get 95 or even 97 ( at those levels we may have a counter trend or a sideways pattern oportunity )
Reply
eXcess0070 Sam0101
I trade patterns only so right now I'm sitting on my hands waiting for an oportunity to jump to the markets, there is no hurry.
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out