FX:EURUSD   Euro / U.S. Dollar
We're looking at a bearish bat pattern setting up @1.1203. The pair is moving towards our previous high's at the 1.12's which should act like resistance as we're in a downtrend. It's an even number as well so we might see some more downward movement. Let's hope we get filled short here.

Good luck trading guys!
Order cancelled: Pattern is now invalid, order cancelled
Hi, can i ask, what is your opinion on bat pattern, should B to C retracement exact 0.382 or 0.886? or it can be any number? Thanks.
TradingFellow DanielAnthony
Hey Daniel. Following the basic rules, the B to C retracement must be between the 0.382 and 0.886 levels, below or above that range the Bat is invalid.

But we may adjust rules to personal preferences right? So after running several backtests using different ratios, we do prefer a higher range from about 0.50 to 1.00 to increase our risk to reward!
what's this?
so it will have a two tops with the second lower the first one, despite that do you use a signal to enter in this trade? I am saying a momentum, pin bar and so on ....
TradingFellow MarcielSouza
For this trade i'll be looking for confirmation bars such as a bearish pin bar or a doji candle on the 15 min time frame. I combine this with the RSI index which in the best scenario shows me overbought market conditions. I hope this helps you!
+1 Reply
MarcielSouza TradingFellow
helps a lot, thanks for share your knowledge.
MarcielSouza TradingFellow
you are trading on H1 time frame, you look for overbought conditions on this TF or 15min?
TradingFellow MarcielSouza
I'll be looking for overbought market conditions on the H1 timeframe. My pleasure!
+1 Reply
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