back into trend with bat pattern

FX:EURGBP   Euro / British Pound
hey, traders. If yo look at the chart you will notice priceaction trading within the last impulse's leg range. As we all know moves in trends. So, it's not a bad idea to look for a trend continuation. I'm looking for another impulse to the upside and i'm going to use this bat pattern to enter long. As usual stop needs below X. My target is 1,272 XA extention. This give me a 1 to 4,6 rik/reward ratio. If trading setups like this you don't need to be right every time. Moreover, you don't need to be right even 50 times of 100 to generate profits. Let's see how this particular trade works). Multiple examples are attached as related ideas links. Check them to find out how this kind of setups work. If you find the inormation useful - you are welcome to press "like". Don't want to miss my next ideas? Press "follow" button. Good luck.
Hi Alexander, I've been studying your setup up above. As you know I've been pouring over Carney's criteria. I've not modified them to suit 'me' - as yet. So, at the moment I'm using those to learn how others apply them differently. When I apply Carney criteria to your set up, I'm uncertain about two of the criteria as you can see here:

As you can imagine, I feel like I'm learning to ride a bicycle all over again. Back then I would have held on to the handle bars a bit too firmly and not found my balance. In time I would have learned that it's not about over-control, and when I learned to ride I could take my bike handle all over the place with much ease and not lose balance or control.

In the trading situation, I'm probably looking too hard at the criteria for pattern identification - and probably holding on to them too rigidly. That's why I'm asking your view on levels of precision relative to Carney. For example Carney would say, "C Point within the range 0.382 and 0.886" (which is identical to Gartley requirement). Your C Point is at 0.946. I just wonder from your experience, how important it is to match Carney's criteria or how closely. I'm of course aware that it's very difficult to get the numbers to match the Carney criteria 100%, else one might never make a trade for weeks or months.

Your BAT pattern of 17 days ago seemed to match quite well standard Carney criteria

If had come across setup of 01/10/2015 - at my stage of experience - I would have applied the Carney criteria and not considered it a valid BAT. I'm just trying to learn how to apply the criteria more flexibly. I'm not seeking a tutorial - just drawing on your experience. Many thanks.
Alexander_Nikitin Captain_Walker
Hi, Captain. You can download my rules (also Akil's and Jason's rules) here:
Alexander_Nikitin Captain_Walker
As for bats. I personaly look at XA to be an impulse leg. B-point is valid if it at least touches 0,5XA and doesn't touch 0,618 XA(even one pip counts). C-point is valid if it at least touches 0,382AB and never penetrates A-point (even by one pip). It may touch A-point very well)). D point is my entry. It is exactly 0,886 XA. I place stops at 1,113XA and my target is 1,272 XA. Note that to define targets I invert fibs. to simplify the matter I added a -0,272 level to my fib lines tool. The logic is: target is XA + 0,272XA which is the same as 1,272XA inverted. So, I'm looking or the next impulse to appear. If traded this way bats give me 65 winners of 100. I close half of my position when market gives me profit equal the amount of my initial risk. I never move stopsto breakeven, because there's no technical reason to place stops within XA range (0,886XA). When I close half i leave only half at risk. So, if the market turns against me I just give it back what I have booked before. Contact me if you need some more info.
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