EURUSD: What We've Had & What We Have Next

FX:EURUSD   Euro / U.S. Dollar
As mentioned in this week’s video (link below), the Euro             has been a great pair for me over the past month or so and has helped me greatly in finally breaking my September Curse. As price action breaks to the upside I’m preparing for my next short in the form of a potential bearish Bat Pattern.

The patterns prior to the bat setup are all described in the video below along with a discussion about trading competitions, a 270% return in 3 months, a walkthrough of my audusd             trade from earlier in the week (from thought process to completion) and a lot more. Please let me know what you think.

Forex Trading: “A Little Bit of Everything Related to trading” https://www.youtube.com/watch?v=JDtwEXQznqU

Akil Stokes
Chief Currency Analyst at Trade Empowered
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Also we broke a trend line on the daily of a larger Wolfe Wave, which gives a target of about 1.18. I see the Bearish Bat taking us back to test the trendline at about 1.125, which is also the lower median line parallel and the Fib 61.8 of the CD leg, before going back up to 1.18.
marelli Walktheline
Agree, I am conservative on 1.129/1.3 but it can go back to 1.125. About 1.18 I m still conservative, 1.16 I think can reach. How do you see it coming to 1.18?
Hi Marelli, Thanks for the reply. If you look at the daily going back to August you can see a contracting triangle with 2 lower highs and 3 bottom touches, called a Wolfe Wave - 1,2,3,4,5 - low, high, low, high, low. Price has already broken out and through the trend line. Wolfe buys the 3rd. bottom at 5 and projects a line from 1 through 4 to give a price target and sideways 1 through 3 to meet the trend line 2 through 4 for a time target. A simple vertical line from the time target meets the price target at 1.18 or thereabouts. Usually on a breakout price will return to test the breakout, and using the trend line and a median line and pitchfork there is confluence in the 1.125 area, which lines up with the Bat target of F61.8 of CD. It is also the congested area we have just broken out of.

I don't know if we'll go straight to 1.18. I'm sure there will be further twists, but that is also the Fib 38.2 of the whole move down and the Fib 61.8 of Wave 5, giving good confluence and takes out the previous high of 1.1710, so the stops will all be there. Let's hunt those stops. Good luck with your trading.
Walktheline Walktheline
Long term, I'm pretty sure the Euro will return to the breakout at the Fib 61.8 at 1.264. You can see that on the monthly and if you know Andrews Pitchfork you can plot a beautiful move back up. However, I don't have deep pockets. So, I just concentrate on the short term.
Hi, I think is possible before going up to 1.16 it would go down to 1.129/1.13 area. I think also that It will go up to 1.16 area but not so fast as many think, which is next week. Trend is upward. I think some profit can be made early next week in short position but go long at 1.130
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Nice! One thing that i love about the markets is that we are able to profit no matter which direction the market decides to go!
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Very good area to look for resistance with confirming price action. Nice job!
Looking for that Akil(Kill) Zone
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Love the way that sounds
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Hi Akil, Excellent work. I've also got a BAT pattern on the EURJPY H4 that i got filled at 136.92. Is that on your radar as well?
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