chrystael
Short

DAILY BEARISH BAT AND BUTTERFLY PATTERNS (BB)

FX:EURAUD   Euro Fx/Australian Dollar
197 16 4
all terminating around 88.6%

when the bat pattern came in, it showed that the termination will be high up.

forgot to bring this early enough, but i think the trade still gonna be bearish in mine.

nice risk to reward

good luck
Hey chrystael, the retracement of AB leg on the bat pattern never reached the 61.8% level. It only went up to 50% level. Could you check and correct me if I am wrong. Thanks!!
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Also, for the butterfly pattern, you need 78.6% retracement of XA leg. Which we did not get in this pattern. Correct me if I am wrong Thanks!!
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chrystael moneymaking
From experience i have found out something. Now look at this, from a small pullback just below where the X point is on the butterfly, should you draw a retracement there, you would have even more than 78.6% retracement.

Now i chose the X point above it so i can have confluences and potential PRZ close to the resistance and also close to the bat pattern. For tis reason i have a small correction. This correction works greatly with gartley pattern alot so far i have seen. Now im using it on butterfly to see. The correction is the small box drawn from the pullback to 78.6% and cloned to place at the PRZ. It gives a clue where the PRZ will be too.

That is that, but the bat pattern here is very ok and so with this correction on the butterfly i have my PRZ for a short.

If the market goes short for a short term there i will and then protect my profits too, aiming the crab you have drawn.

Mind you the PRZ is where you have structures too. Read waht ayong has commented.

Thanks. Hope i have said something though little. Please this is based on experience. Shoukd you check my other charts you may see the correction and its usefulness.
+1 Reply
moneymaking chrystael
Really good explanation. I totally understand you. It makes more sense to me now. Awesome, Thanks as always. :)
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chrystael moneymaking
Best friend you are always welcome.
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Hey chrystael, I actually found a bearish crab pattern on EURAUD daily chart. The pattern is still forming and will be complete at the 161.8% extension of XA leg (D point) .
Here's the link if you're interested :
snapshot


Good luck trading!!
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chrystael moneymaking
Thanks bro
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moneymaking chrystael
You're most welcome!!
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There is a bullish Cypher pattern on EURUSD 60 min which is almost complete. Here's the link:
EURUSD: Bullish Cypher pattern almost complete
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chrystael moneymaking
Thanks for the chart. Bt i had made thus already. To me i think it wil go just a bit deeper than 78.6%. Check my chart to seethe reason. Also i am see a down ward ressure on your chart too. Lets hope it gets traded.

Success
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moneymaking chrystael
Awesome, Good luck to you!!
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Waoh, look at this. It has gone more than 1000 pips. Hmmm good for those with big lots.
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moneymaking chrystael
I don't know why I didn't felt that confident in taking this trade. My bad luck, ohh well. Future might hold some good opportunities. :)
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chrystael moneymaking
Probably. The future holds cute things. So keep it up. Hei can we have a personal conversation? My skype i think ok
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anybody tired of making money with this trade?

lol. moneymaking friend you did not take this trade, sorry
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Trade complete. All the target got filled and traded. Money in the bank. How i wish any institution has seen this..LoL
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