TomHall

EUR/AUD - 2618 & Bat Pattern. The Perfect Setup?

FX:EURAUD   Euro Fx/Australian Dollar
EUR/AUD - H4 - 2618 & Bat Pattern

We are looking for a D leg completion of this Bat Pattern for our buy orders to be triggered.
The C leg of this bat pattern didn't exceed A, so in my rules this is still a valid Bat Pattern .

Having now retraced back into the 61.8% Fib level, we can also trade this as a 2618.
Rules Of Engagement 2618
- Double Top
- Break below Neckline / Support
- 61.8% Fibonacci retracement
- Stop loss above double top
- Target 1 at 38.2% Fibonacci
- Target 2 at 61.8% Fibonacci

Good luck.
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Hi i think there is some problem with you AC leg can you check ? it has to be between 0.382-0.886.
Reply
I think you could be correct, i will have to check this.
I see the patterns and setups on my MT4 account and then draw them on here.
My MT4 account may be correct but i will have to check my setup and get back to you.
Reply
Hi!
You say you place your targets for the 2618 trade at 2 Fibonacci levels. What is the move or leg you measure the retracements of?
+1 Reply
Hi,

Please take a look at the photo below on another trade which is explained a little better.
USD/JPY - 2618 Trade Explained
Reply
If you click on the photo below and scroll down you should get all the information you need.
Any more questions feel free to contact me.
Reply
dule85 TomHall
Aha, I see, thanks for the explanation. I personally would shoot for targets at the retest of structure low because of risk reward ratio if I follow my rules.
Wish you a nice weekend sir!
+1 Reply
That is certainly a strategy i implement on some occasions depending on how the market percents itself.
I will take half of my profits off at Target 1, i will then have a trailing stop on my Target 2.
You also have a good weekend.
Reply
Correct me if im wrong but a to c should be 61.8 to 78.6
Reply
TomHall TOP jason.barker.5205
Hi Jason,
Everyone has different rules for the ratios when trading advanced patterns.
Personally as long as the C leg does not exceed A in my plan it is still valid.
I am aware some plans have it must not exceed 88.6 or 78.6 but for me personally it must not exceed A.
I hope this helps.
Reply
Hi Tom ,

I would like to ask a question about bat pattern.
Please correct me if i m wrong. Maybe in your rules it is still valid . it looks like AB leg didnt hit 0,5 retracement of XA. is it still bat pattern?
+1 Reply
TomHall TOP korhancakir
Hi,
For my rules, i am looking for it to at least hit the .382 but cant exceed the .50
I hope this helps.
Reply
thank you
+1 Reply
TomHall TOP korhancakir
Not a problem :-)
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