GcNaif
Short

Short from PRZ area of Potential Bearish Bat.

FX:AUDUSD   Australian Dollar/U.S. Dollar
843 12 21
We are very close to this Bearish Bat . I will be watching the PA near the PRZ area to get into this short trade. My stoploss will be little above 0.722x with target below the blue dashed line.

I am a Chart Slave.Thank you TradingView and @nmike.
I agree to your idea. In addition I would say that the bat will complete (if it will..) exactly at the longer term bear trend line resistance, an additional plus to this trade, since these levels are price action magnets anyway. Good luck!
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GcNaif MOD Koryphaeen
thanks Kory
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Nice, I was thinking this bullish run was looking weak up here.
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I'd wait till Thursday to short safely.
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GcNaif MOD IvanLabrie
thanks Ivan , i m watching this for a entry on GA trade
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Koryphaeen PRO IvanLabrie
I think this pattern can be traded right now and in worst case scenario, if it will not reach targets till Thursday, SL can be adjusted to break even thus avoiding losses due to high volatility. Anyway, my order got already filled (my strategy includes a 10 pip early entry in case of advanced patterns), so I'm in this, let's see how it evolves.
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SaudAlAzab Koryphaeen
Same just make sure to have to watch your SL.. Hopefully we will make some pips
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Koryphaeen PRO SaudAlAzab
This is an additional sign that we are correct in estimating the short direction, a Cypher just got filled on a lower time frame 15M. I trade such kind of rare situations with doubling my position for a short term and trading this new pattern as another opportunity, trailing my stops and maybe it could be a double profit in there... :)
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GcNaif MOD Koryphaeen
good luck guys
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SaudAlAzab Koryphaeen
Whats your TP goal ?
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Koryphaeen PRO SaudAlAzab
Here on this 15M time frame Cypher, T1=0.382, T2=0.618 fib retracements of CD leg, but after it will reach targets, I will not close the positions, but will trail the stops, because of the bat pattern which is already triggered on the hourly..
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Koryphaeen PRO SaudAlAzab
SL is above X on the 15M Cypher, as I said, trade it without taking into consideration the hourly bat pattern until T2 is reached, than trail the stops
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