EURUSD: 2 Advanced Pattern Non Farm Payroll Predictions

FX:EURUSD   Euro / U.S. Dollar
Happy NFP day traders! As you know we've been tracking the EURUSD             all week in the live room and last night I was finally able to get short an hour after the New York close.

We never know what to expect from our monthly Non-Farm Payroll report (and accompanying news) but here are a few predictions on the higher timeframe that are worth keeping an eye on.

We have 2 potential bat patterns setting up on this pair. A potential bullish bat down at 1.0580's and a potential bearish one up at 1.1380's.

Something that I truely enjoy about being a trader vs. an investor is the fact that we get to act like a mercenaries in the markets. Meaning in situations like this we're not concerned if the market will go up or down, because we have a plan to attack either situation. Good luck out there today gang and please remember to hit that "thumbs up" button before leaving. I really do appreciate the support!

Akil Stokes
Chief Currency Analyst & Head Trading Coach

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Possible move to get to your bullish bat! Greets!
I don't understand where you get the Green Bat from? B legs goes above .382 and .050 invaliding the Bat, and this does not touch the .618 to perform a gartley.
+1 Reply
Chris_O_Brien Chris_O_Brien
A to B leg
Akil_Stokes Chris_O_Brien
Hey Chris, hitting the 50% is what validates a valid batter pattern B leg for me.
Chris_O_Brien Akil_Stokes
Oh, Ok. I guess I have been miss informed my apologies . Still trying to learn.
+1 Reply
Akil_Stokes Chris_O_Brien
No need to apologize asking questions is how we all learn. I would say this, if you've backtested it using the rules you stated above and you were able to come out with a positive expectancy then there's no need to switch things up. What's "right" for each trader (at the end of the day) is what they can be consistently profitable with.
Hi Akil, I just did some back-testing on the harmonic patterns, mostly on H1, and it blows my mind. it is crazy how this things work! I didn't understand what your posts before, and I searched the internet over the patterns for weeks.Thanks!
+1 Reply
You're welcome
Our overall fundamental theme for the global economy is still intact.What does it mean to the Euro and the USD you say?It means the continued export of deflation worldwide from China will be gaining traction.The second major fundamental theme is this - You have Saudi Arabia with the capacity and reserves to pump an infinite amount of Oil vs. The United States who has the ability to print an infinite amount of Reserve Currency Dollars.Taken from ZeroHedge.Stay educated,it makes you a wise and better trader.
PaQu RobertHerdman
Better watch the price only. If you read to much you may tend to think that you are wiser than market and that makes you worse trader,
+1 Reply
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