Alexander_Nikitin

ILLUSTRATION TO "THOUGHTS ABOUT BAT PATTERN. PART IX."

FX:EURUSD   Euro Fx/U.S. Dollar
HEY, TRADERS. HERE'S THE ILLUSTRATION TO "THOUGHTS ABOUT BAT PATTERN . PART IX". WE HAVE A BULL HSFDI BAT SETTING UP. iF WE HAVE A BREKOUT OF THE NECKLINE, THEN I WILL LOOK FOR 0,618CE TO ENTER SHORT WITH BAMM TRADE. HSFDI TYPE IS ONE OF THE MOST PROFITABLE BAT TYPES. I WILL TALK ABOUT IT IN DETAILS IN MY NEXT "THOUGHTS ABOUT BAT PATTERN" EDITIONS.
Hey Alex,

I have a quick question if I may.

Would you enter on the second arrow and if you did where would you place your stop loss?

Many thanks
Alex
Reply
I would enter at 1,0946 wich is 0,618CE retracement because of risk reward. my stops are at 1,113CE fib extention, just above C-point.
Reply
AlexPayates Alexander_Nikitin
Thank you for your reply, had the same SL but entered at 1.035 which gave me a worse R:R but I know now for the future.
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That low should be a good buy.
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yes, it's a place where price have several time changed its direction. Good seen on HTF.
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Boom, I'm in.
Now sit and wait, my target is considerably larger than yours...thinking 1.2.
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