Akil_Stokes
Short

EURUSD: Potential Bearish Bat Pattern (The Smaller One)

FX:EURUSD   Euro Fx/U.S. Dollar
Hey traders, there are more than a few opportunities setting up on the EURUSD             , this one is still a ways away from me taking it serious, but believe it or not, it's the smallest of the potential opportunities. (The bigger potential patterns are on the 4 hour and Daily charts )

What we have here is a potential bearish pat pattern which would complete at 1.1418. Now it's important that we don't pass up on other trading opportunities because of the potential pattern because there's no reason to be confident in the completion until the "B" leg is broken providing us with a NSH             , HHHC.

Just like with the USDJPY             trade last week (Minute 2:35 of this Video https://www.youtube.com/watch?v=OnzLKZhfSzM ) I'll be looking for a potential structure based trade at the structure level as well.

Hoping you guys have had a great trading week, and cheers to a great weekend.

Akil Stokes
Chief Currency Analyst at www.TradeEmpowered.com
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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"Plan Your Trade, Trade Your Plan"




unitra
a year ago
yes... good idea

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unitra
a year ago
sorry my copy paste..
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Akil_Stokes TOP unitra
a year ago
Thanks for sharing Unita
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unitra Akil_Stokes
a year ago
welcome :)
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SolidSnake
a year ago
bring it down to the 1050-80 area first !! hhehe got loads of pending entries there :) will have to revise it if this carries on its way up
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Akil_Stokes TOP SolidSnake
a year ago
I'll see what can do. great name by the way, did you play the latest one?
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Bodoc.Nicu
a year ago
What about this Akil on D1?
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Akil_Stokes TOP Bodoc.Nicu
a year ago
That doesn't look like a pattern i trade
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Bodoc.Nicu Akil_Stokes
a year ago
I made some changes....what about now?
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SolidSnake Bodoc.Nicu
a year ago
Nicu good attempt but I dont think thats a pattern, take a look here to find out what proportions should you find and how to recognize bat/crab/gartley patterns <<<<<<<http://www.babypips.com/school/summer-school/harmonic-price-patterns/the-gartley-and-the-animals.html >>>>>>> Im sure it will help you!!!!!!
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SolidSnake Bodoc.Nicu
a year ago
ahh ok... cant put you the link so >>>>>


The Bat
Gartley Variation: Bearish BatGartley Variation: Bullish Bat
Come 2001, Scott Carney founded another Harmonic Price Pattern called the “Bat.” The Bat is defined by the .886 retracement of move XA as Potential Reversal Zone. The Bat pattern has the following qualities:

Move AB should be the .382 or .500 retracement of move XA.
Move BC can be either .382 or .886 retracement of move AB.
If the retracement of move BC is .382 of move AB, then CD should be 1.618 extension of move BC. Consquently, if move BC is .886 of move AB, then CD should be 2.618 extension of move BC.
CD should be .886 retracement of move XA.
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SolidSnake SolidSnake
a year ago
The Butterfly
Gartley Variation: Bearish ButterflyGartley Variation: Bullish Butterfly
Then, there is the Butterfly pattern. Like Muhammad Ali, if you spot this setup, you’ll surely be swinging for some knockout-sized pips!

Created by Bryce Gilmore, the perfect Butterfly pattern is defined by the .786 retracement of move AB with respect to move XA. The Butterfly contains these specific characteristics:

Move AB should be the .786 retracement of move XA.
Move BC can be either .382 or .886 retracement of move AB.
If the retracement of move BC is .382 of move AB, then CD should be 1.618 extension of move BC. Consquently, if move BC is .886 of move AB, then CD should extend 2.618 of move BC.
CD should be 1.27 or 1.618 extension of move XA.
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Bodoc.Nicu SolidSnake
a year ago
Thank you !
I appreciate your help, I'm an beginner in pattern recognition.
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SolidSnake Bodoc.Nicu
a year ago
no probs!!! ask away if you need anything
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Akil_Stokes TOP Bodoc.Nicu
a year ago
I recommend reading the book "Trade What You See" by Larry Peasavento it's a great starter book for those intereste din patterns and harmonics
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Trading_Jazz
a year ago
Hello traders,

Who am i to link you from Akil to my profile, (I not even dare to doubt any setup he presents) - ;) but here goes a published "table" that can help some of you taking "eventual" control on those patterns.

A lot of people agree with these ratios, i know there's guys trading advanced patterns with different ratios and also successful, but I believe these are the most friendly and the most common.

I thinks there's a correction to be made on "my" Bat pattern Ratios, point C need to close below point A, and this is crucial...

Advanced Patterns Ratios


Safe trades;
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Akil_Stokes TOP Trading_Jazz
a year ago
In the future feel free Link away my friend, this is a social site, I encourage the exploration of different traders and different ideas
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blockchainbros
a year ago
why shorting when this bat can possibly fly?
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Akil_Stokes TOP blockchainbros
a year ago
Remember an advanced pattern means absolutely nothing until it has reached the "D" completion. So although it's something to keep an eye out for in the future, theres nothing that tells us we will reach the "D" point. therefore we don't want to make any assumptions that either cause us to take or pass up on other opportunities.
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glennmercer PRO Akil_Stokes
a year ago
Hey Akil, nice chart and helpful comments. How do you feel about trading the bat action magnet move (BAMM) line? In other words, entering a long positions after price passes the B point?
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Akil_Stokes TOP glennmercer
a year ago
I've never been a BAMM trader, but I would say this, I wouldn't enter it strictly because it's a BAMM, but if a valid structure based trade occurred at that area I would take it and use the potential bat pattern completion area to help determine profit targets
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najibmulik
a year ago
Hi Akil! I am inspired by your great work. This effort of mine is the result of inspiration and learning I got from you..
CYPHER WITHIN CYPHER, EURUSD
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Akil_Stokes TOP najibmulik
a year ago
it's great to hear that I've been an inspiration!
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yeehuei PRO Akil_Stokes
a year ago
Akil. Do u used automated backtesting software or manual backtesting? I can't seem to find a software package or code that can identify pattern..
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Akil_Stokes TOP yeehuei
a year ago
Although we do have pattern ID software I did all of my testing manually and would always do so. Knowing the numbers is one thing, but the psychological benefits of doing it manually outweigh everything
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ForexNative
a year ago
Hey there Akil, thank you very much for the awesome trades! I was wondering how large of a margin of error you allow for on your retracements. On this pattern I have the X to A leg retracing to .53 (bat pattern .382-.50) and am not sure what a good rule of thumb is to decide if a pattern is too far outside of the Fibonacci parameters. Thanks again for all your help!
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SolidSnake ForexNative
a year ago
dont really have to bee 100% on the ratios... as long as they are FIBO levels they mostly go well for entries and exits...
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Akil_Stokes TOP ForexNative
a year ago
I would be as strict as possible with your rules (helps with emotions). So if your rules say that it must retrace between the 38.2 and 50.0. then anything before the 38.2 would be invalid and anything after the 50.0 would be invalid even if it's a single pip. That way you don't have to wonder if it's too close or too far, it either meets the rules or it doesn't.
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ForexNative Akil_Stokes
a year ago
Thanks for the feedback!
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Hi Akil. Thanks for publish this chart. but i have another idea's
Euro Confirm downtrend with 1.13250


Euro will Fall soon.
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Akil_Stokes TOP PooyaSalehipour
a year ago
You're welcome, and tradingview and trading in general is all about different traders having different views of the market so I encourage the sharing of ideas, I'm sure it may help others spark some predictions as well.
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yes... good idea
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Akil_Stokes TOP thussapon.sornrung
a year ago
Thank you
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Axel
a year ago
great idea
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Akil_Stokes TOP Axel
a year ago
Thanks Axel
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Axel
a year ago
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SolidSnake Axel
a year ago
yes you can find these figures everywhere... the good one is the one that confirms...
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KVE PRO
a year ago
Even smaller bat within that bat...:
EUR/USD: Possible smaller bat within a larger bat.
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Akil_Stokes TOP KVE
a year ago
Winner winner chicken dinner on the small bat.
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Kjetil_Johannesen PRO Akil_Stokes
a year ago
Nice! Me too for target1. Since I'm only on demo, it'll have to be chicken soup for me. :)
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Akil_Stokes TOP Kjetil_Johannesen
a year ago
Still sounds delicious
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Axel Akil_Stokes
a year ago
yes but i'm not filled (different broker) still waiting :D
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Akil_Stokes TOP Axel
a year ago
I would cancel you pending orders then since price has already rolled down to the target area
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Akil_Stokes TOP Axel
a year ago
Or if you're involved at least move stops to breakeven just to ellinimate any chance of taking a loss
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Axel Akil_Stokes
a year ago
yes stops are breakeven
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Axel Axel
a year ago
god damn i hate this to see a half pip or so
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Akil_Stokes TOP Axel
a year ago
I'm with you, it's annoying, frustrating. Hopefully it'll push down and get you filled. I'll tell all of my live room members to sell to try and get it there hahaha
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yeehuei PRO Akil_Stokes
a year ago
Akil. Since we have a smaller bat within a big bat... the difference between the 2 entry price could be very huge in this case... Under normal circumstances, should we take a risk to enter a trade once smallar BAT is complete? or we should catch the big one?
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Akil_Stokes TOP yeehuei
a year ago
The smaller one is a completely different trade from the potential bigger one, therefore they should be treated as two separate opportunities
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Akil_Stokes TOP yeehuei
a year ago
I would not try and enter the smaller one again, because it has already moved to the expected take profit level, therefore the move that we projected has already been made
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Axel Akil_Stokes
a year ago
yess! t1 is hit thanks to the liveroom haha
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Akil_Stokes TOP Axel
a year ago
;-)
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KVE PRO Akil_Stokes
a year ago
Yep, went great!!
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KVE PRO
a year ago
Hi Akil, possible route to completion of the big bat:
EUR/USD: Possible entry levels for a long trade

Looks like we're on our way to complete the small bullish bat at the lower triangle trendline... Would be great, I hope it works out!
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