Akil_Stokes

EURUSD: Daily Bearish Bat Pattern Setting Up

FX:EURUSD   Euro Fx/U.S. Dollar
I initially thought that Thursday & Friday would be our breakout days this week but it looks like the party has started a little early. Setting up on the EURUSD             daily chart we have a potential bearish bat pattern completion up at the 1.1393-1.1500 level.

I'm not a daily chart trader, but i will be looking intraday for an opportunity to hop on a retracement and see if I can ride the wave up to this level.

It's Thursday so makes sure that you're subscribed to my youtube page as you don't want to miss today's video release. We'll see how the day goes but we may be talking about this trade in more detail.

Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -
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Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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ChrBue
10 months ago
I do have the same setup waiting for completion. Currently in a long position having fun with the break out and counting pips. :-)
+2 Reply
Akil_Stokes TOP ChrBue
10 months ago
Nice, well done, that will be a nice ride for you
Reply
gplusrsvp Akil_Stokes
10 months ago
should i buy now
+1 Reply
Akil_Stokes TOP gplusrsvp
10 months ago
No, you should follow what your trading plan say to do. And iff you don't have a trading plan with specific rules of engagement the you should stop trading right way in my opinion
Reply
OLIGARCH Akil_Stokes
10 months ago
Akil, if short takes in place, what do you think how short it can go? What would be potential TP's?
I yesterday made a mistake and sold, now hedging, and hope it will get back so I can BE.
Thanks.
+1 Reply
Akil_Stokes TOP OLIGARCH
10 months ago
A short from where price action is now or a short from the potential Bat?
+1 Reply
OLIGARCH Akil_Stokes
10 months ago
Sorry forget to mention, about this one I understand that we can go back to around 1.105* and there is a buy, but yes from bat. Thanks.
+1 Reply
Akil_Stokes TOP OLIGARCH
10 months ago
If I were in the bat pattern i'd stick to the traditional target levels. No need to shoot for anything extra in my opinion since we're still in a sideways market
Reply
OLIGARCH Akil_Stokes
10 months ago
And will you be periscoping this chart tomorrow? Thanks
+1 Reply
Akil_Stokes TOP OLIGARCH
10 months ago
No, I thought about trying to periscope and do the live room at the same time, but it's just too much
Reply
weiwei
10 months ago
Saw this one too, but the pattern is too big for me, risk along is more than 200 pips
+1 Reply
Akil_Stokes TOP weiwei
10 months ago
Yup i'll be watching from a far as well
Reply
jaejames
10 months ago
gravity will pull it back soon ;D good setup and analysis bro
+1 Reply
Fxprotrader PRO
10 months ago
Great stuff.. This bat pattern has so much potential. Actually its D point is at a level where price will retest a broken corrective structure. Besides that i will personally aim for much bigger profit target than the 0.382 and 0.618 usual fib levels. If we get there i will breakeven and let it run south.. Well done mate, keep the good work..!
+1 Reply
Fxprotrader PRO Fxprotrader
10 months ago
snapshot
+2 Reply
Akil_Stokes TOP Fxprotrader
10 months ago
Thanks for sharing
Reply
Fxprotrader PRO Akil_Stokes
10 months ago
No problem Akil...
+1 Reply
PaQu Fxprotrader
10 months ago
Combination of pattern with classic TL looks perfect. Thanks.
Reply
Akil_Stokes TOP Fxprotrader
10 months ago
Thanks
Reply
JeniferCastrillon
10 months ago
Akil , you think that this pair can do a kick to keep up .. so much. ?
+1 Reply
Akil_Stokes TOP JeniferCastrillon
10 months ago
With our Non Farm Payroll release approaching, i have no clue what's in store for this pair
Reply
samurai110 PRO
10 months ago
Nice one Akil. I didnt look at the EUR/USD on the daily so I would have missed it :)
+1 Reply
Akil_Stokes TOP samurai110
10 months ago
Nothing wrong with that, it's key that we stick to what our timeframes are.
Reply
olly_price
10 months ago
EURUSD bat pattern forming from a symmetrical triangle


Looks like we clocked the same pattern, nice. Reckon you could check out my page if you get a minute? Be good to get some insights from someone who's been involved for longer than me, I'm currently looking into a few strategies.
+1 Reply
Akil_Stokes TOP olly_price
10 months ago
Thanks for the share. As far as checking out your page, I don't mean to seem rude but I don't critique charts for traders on this website. It's nothing personal but if I did it for you I'd feel obligated to do it for everyone who asked
Reply
Akil_Stokes TOP olly_price
10 months ago
Great find by the way
Reply
olly_price Akil_Stokes
10 months ago
Thanks a lot, and Re the above comment, I absolutely understand so no worries!
+1 Reply
Larry003 PRO
10 months ago
Nice one Akil! Good as always, I am long but will be carful with tomorrows NFP announcement. Stops has been moved above entry :) The next level I can see on the upside is 1.141's....
+1 Reply
Akil_Stokes TOP Larry003
10 months ago
Locking in profits is always a good thing
Reply
OLIGARCH
10 months ago
I guess Bat will not complete set up so soon, smelling now short with first TP around 1.09***
Cheers
Reply
fx1
10 months ago
hello,

Akil I can understand the .886 of X2A. But whats up with the 1.1618 @ 1.13978 or 1.3974 as per your chart ( probably fib retracement of B2A which I use for gartley).
But as per my understanding for BAT I use 1.168 of B2C fib retracement.
Can you please clear my doubt why you have used 1.168 of B2A fib retracement for BAT ?

regards
+1 Reply
ChrBue fx1
10 months ago
I think the 1.618 ist a typical 1.618 extension of the intial impuls. Look for 1.618 inversion strategy as price often reveses. so we have a potential bat and an 1.618 inversion.

cheers
Reply
Akil_Stokes TOP fx1
10 months ago
The 1.618 has no use in the Bat pattern
Reply
OLIGARCH
10 months ago
Hey, Akil, Terrific short coming soon :D
What will be your first target?
Mine says we will fall terrific!
Reply
Tilsey PRO
9 months ago
Technically didn't get a fill but did you trade this Akil?
+1 Reply
Akil_Stokes TOP Tilsey
9 months ago
No I don't trade the daily time frames
Reply
Akil_Stokes TOP Tilsey
9 months ago
I did get a fill on the Long going up towards the bat formation,
Reply
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