Bearish Bat At Entry Point! AUDUSD Short

FX:AUDUSD30

Australian Dollar/U.S. DollarFXCM

Description

⋅ Feb 17, 2016 4:18 PM

A bit late posting this but it's not late to enter.

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Comments

nl88

⋅ Feb 17, 2016 4:23 PM

Thanks for the chart ! Learning how to trade with your method ! :D

JoMarshall

⋅ Feb 17, 2016 4:26 PM

You're welcome

JRFreeze

⋅ Feb 17, 2016 4:23 PM

its a cheeky little one. Nice

JoMarshall

⋅ Feb 17, 2016 4:27 PM

Yep! let's see if the market will be kind to us

JRFreeze

⋅ Feb 18, 2016 1:00 PM

could that have been any closer to the target??!!? I JUST missed out, twice!

nl88

⋅ Feb 18, 2016 2:16 AM

Great call. Possible of another short ?

JoMarshall

⋅ Feb 18, 2016 1:01 PM

Yes the first target has been hit

SergeantPringles

⋅ Feb 17, 2016 4:24 PM

i think id draw the BC from from the highs at 0:00 rather than the way u drew it. that way we have a nice lineup with the 2.618 extention of the BC leg at the 886. but the entry is ofc stillt he same. nice spot

JoMarshall

⋅ Feb 17, 2016 4:27 PM

If you do it that day you wouldn't get the 50% retracement and hence it wouldn't be a bat pattern

SergeantPringles

⋅ Feb 17, 2016 4:48 PM

well a bat pattern is also valid at the 38.2
harmonictrader.com/price_patternsbat.htm
thats the guy that orginally published the bat pattern. but i also know that there are ppl out there that only trade the 0.5 and why not, if it works for you.