PipBurger

Multiple Analysisto confirm Bat Pattern

FX:EURGBP   Euro Fx/British Pound
4 months ago
Good day.
Bat Pattern found on the 4h also in consolidation on Daily that has the C-D Leg moved past the B-Leg to take pattern seriously.

An upward trend channel is also found on the 4h as well a bullish flag pattern in 1h timeframe, that is all the more confirmation to hop on the trend and reverse position Bearish Bat @ 0.85457.

Please enter & adjust Stops and Targets to your own risk profile.

This is not professional signal service but rather professional opinion.
Use this information at own risk.

Good Luck in the Market.
4 months ago
Comment: Flag broke upwards, expecting continuation to get filled on the Bat Pattern
4 months ago
Comment: The Flag Breakout yesterday making higher highs and higher lows indicating that a fill on this Bat Pattern is imminent.
4 months ago
Trade active
3 months ago
Trade closed: stop reached
longshot-nl
4 months ago
thanks looks good. point D of a bat is 0.886 fib level. you might want to add this level to your fib.
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PipBurger longshot-nl
4 months ago
Thanks for building critue, but 0.786 = 0.886. doesn't seem so but it's the same level.
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PipBurger PipBurger
4 months ago
My bad, not the same level
What I meant to say that I've learned the Bat as 0.786 Entry on Fib
I'll do some extensive research to see which of the levels are correct.
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PipBurger longshot-nl
4 months ago
Apologies, you were right. Thanks for the heads up.
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longshot-nl PipBurger
4 months ago
its ok. if you want to learn faster, look at other peoples harmonic patterns in the past and how they worked out. try to figure out why they did or did not work. look at the shape of the wings, the fib levels and if there is an ab=cd pattern in them and if there was congestion in XA where D is. i want to add that even if all is good it still may fail. In this bat i do not like the big dip in the right wing. I do like that there is congestion in XA where D is. i am just risking 8 pips on this one. it either works or it does not. personally i do not like 20 or 30 pip drawdowns so if it works after a large violation i get in again with a small stop. but that is personal preference.
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PipBurger longshot-nl
4 months ago
Thanks once again for the correction also the tip to look around how other people trade the pattern. As you say you are just risking 8 pips on this one, it can go horribly wrong because there is a big channel moving upwards and can breakout for a trend continuation, but the market decides for itself. Good Luck trading longshot, hope to hear from you again.
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longshot-nl PipBurger
4 months ago
ok, you too good luck.
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