Tradesy1

Bullish Bat Pattern

Long
FX:EURUSD   Euro / U.S. Dollar
Although I am not as much a fan of harmonic patterns as when I first began trading this pattern again appears to meet the criteria perfectly.

Through back testing I have found the Bat pattern to have a success rate of 62%, I would consider this a medium to high probability trade and as such will be committing a maximum of 5% capital to this trade.

Entry: 1.17208
Stop: 1.16957
TP1: 1.17710

Should the pattern reach TP1 I will close 50% of my position, the remaining 50% will then be risk free. I will post TP2 in the comments should the pattern be successful.
Comment: TP2 Hit

Comment: TP3 = 1.19216

Comment: TP3 hit.

Comment: TP4 = 1.21224

Comment: Due to the confirmation of a reversal pattern, as shown on the chart below, I will look to exit the remainder of the long position.

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Comments

i agree with your analysis
+4 Reply
Just starting to learn this pattern. You've piqued my interest with it!
+1 Reply
Tradesy1 Goyogo
@Goyogo, I'm happy to hear it's had such an effect! Harmonics can be a very engaging subject.
Reply
TP1 (1-2rr) hit.

I have closed 50% of the position making the remaining 50% risk free.

TP2 (1-4rr) is at 1.18212 as shown in the chart below...

+1 Reply
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