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
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Technically didn't get a fill but did you trade this Akil?
+1 Reply
No I don't trade the daily time frames
Reply
I did get a fill on the Long going up towards the bat formation,
Reply
Hey, Akil, Terrific short coming soon :D
What will be your first target?
Mine says we will fall terrific!
Reply
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
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
The 1.618 has no use in the Bat pattern
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I guess Bat will not complete set up so soon, smelling now short with first TP around 1.09***
Cheers
Reply
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
Locking in profits is always a good thing
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