WendelinProbst
Long

EURUSD: Long or Short, which Bat will trigger?

FX:EURUSD   Euro Fx/U.S. Dollar
I hope to get a long entry (green arrow and targets) and to let it run after Target 1 is hit and stop is entry, but would be also fine with the short (red arrow and targets) as I trade every valid Bat, Gartley and Cypher . Of course both D-Legs should be exactly 0,886, I don`t know why this got out of place a little, sorry.
Coordinator
2 years ago
But there is no sign of trend reversal.
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WendelinProbst
2 years ago
Euro is very oversold, but I will only shoot for a bigger move when I am in a profitable Trade, with Target 1 in the pockets and Stop Loss at break even. I am not a risk taker. I don`t take any aditional risk other than to pass a possible banking of Target 2. If I am stopped out in the Pattern than that is part of my normal Trading costs. Of course I have also the short orders at the Bear Bat active. So we will see.
-1 Reply
Coordinator
2 years ago
Do you know from which date EURUSD is oversold? Almost 1 month. I am not denying what you are telling but sometimes I do want to learn insights from traders. I really do not take any advice from anyone, I mean I never trade or change my mind looking to your or anyone's chart. But sometimes it is very interesting for me what you traders are thinking. My view on EURUSD is still bearish.
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WendelinProbst
2 years ago
of course the trend is bearish, but that does not mean that there will be no more bounce of say 100 - 200 Pips. At this place we have the support of the lows one year ago. I might be wrong but I would have absolutely no problem with it. The market could do anything, even a sudden drop of 500 Pips. I see my job in reducing the risk and play inline with the rules that I set.
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Coordinator
2 years ago
Do not take this personal but you have published 6 charts about EURUSD, the first 11 days ago and all of them is bullish, but I am sure that none of them were profitable trade. I want to understand the logic behind all these bats and other flying things. I still do not understand this.
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WendelinProbst
2 years ago
well on one trade of these I was stopped out thats right. Another one hit both targets as you can see on the charts. As I shot for higher prices I only got away with Target one and was stopped for BE with the second half. But that was just enough to offset my loss on the other one. Another one was not triggered, so no trade. the bigger ones are weeklys just for the bigger picture, I don`t trade them because I would have to do it with a very very low position size due to my MM rules and then waiting waiting waiting, possibly for months...
But the weekly setups would be far from being stopped out. But I agree, its hard to understand another ones strategy by just looking on the charts. Hey and this time I also posted a bear entry which I really trade in case the setup stays valid before its triggered. hope this helps.
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WendelinProbst
2 years ago
stopped out. thats the business. ;-)
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dangap
2 years ago
Great charting non the less
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Coordinator
2 years ago
Great Charting - but it just did not help. I want to show my chart as well :)
No MACD, No RSI, No Stochs, not bats, no other flying type objects just EMAs and 2 of my own written indicator that is it...

snapshot
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WendelinProbst
2 years ago
Unfortunately i did. Not post the Bull bat in eurusd that i Traded tonight with X at 12920 and D at 12923. (got actually in at 12926) it workend fantastic and i sold T2 at todays highs After the News at 12987. the Price was pure Luck but the small Risk Not. Pattern work best for me have to Feed my Family with trading. I am profitable with a 56% Hit rate and 1.3 Ratio of average profit amount to average loss. There are lots of profitable Strategies out there. Its easy to loose so it Must be also easy to Do just something that works just opposite. Good Luck!
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Coordinator WendelinProbst
2 years ago
Nicely explained the point. I wish you a lot of profitable trades!
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WendelinProbst Coordinator
2 years ago
Thank you. i had to learn it the very hard Way. i blew up several Accounts and sweated every Few days in faulty Trades behause I did Not want to loose doubled up etc. Then suddenly i understood that I have to view it more in Terms of probabilities. The more one thinks that he knows the outcome of a trade the more likely he fails... 20 Trades have to be profitable all in all Not 3 or 5...
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