Short from PRZ area of Potential Bearish Bat.

FX:AUDUSD   Australian Dollar / U.S. Dollar
844 12 22
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'd wait till Thursday to short safely.
GcNaif IvanLabrie
thanks Ivan , i m watching this for a entry on GA trade
+1 Reply
Koryphaeen 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.
+1 Reply
SaudAlAzab Koryphaeen
Same just make sure to have to watch your SL.. Hopefully we will make some pips
+1 Reply
Koryphaeen 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... :)
+1 Reply
GcNaif Koryphaeen
good luck guys
+2 Reply
SaudAlAzab Koryphaeen
Whats your TP goal ?
Koryphaeen 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..
+1 Reply
Koryphaeen 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
+1 Reply
Nice, I was thinking this bullish run was looking weak up here.
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