EURCHF, 1h, potential Bat pattern

FX:EURCHF   Euro / Swiss Franc
If you look at the 4h timeframe, we have had a pullback from a downtrend. If you go up another step to Daily timeframe , we've had a pullback from a uptrend - so the timeframes are a bit contradictory.
This is also seen in the 1h timeframe where we recently had a more consolidating period. This allows both a bearish pattern or, as in this case, a bullish pattern to work well.
It is often in consolidating periods that patterns show their best side when using standard target prices (38.2% and 61.8%).

Awaiting test of the entire PRZ where the defining level is the Bat pattern 88.6% (XA).

As always, a "type-1" trade is more aggressive when it comes to trail the reaction and picking a profit if you see a slowdown in the reaction.
(Of course, this is something you should have in your trading plan and tested - so you know how aggressive you can be without losing your "edge".)

Stop loss placed below X but keep it tight.
Target prices are standard 38.2% and 61.8% for a second position.
Henrik Siverhall
Pattern Trading Sverige

Är du intresserad av våra utbildningar - "PTSE - en komplett trading utbildning".

Gå med i våran Facebook grupp
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out