EURUSD Bearish Bat completion

FX:EURUSD   Euro / U.S. Dollar
Details in the chart.
Order cancelled: Price did make expected move to downside only couple of pips too early for my limit order to be filled:) I feel that the best edge is gone for my strategy so I´ll move on to the next trade. I don´t want to take trades that I feel less than perfectly comfortable to take.

Merry Christmas to you all!
Ok. How should I enter? Should I place a limit order at D-point? Or should I use that D-point as PRZ and look for some other confirmations of price to go down?
+1 Reply
TPTrading PRO Alexander_Nikitin
You could use a limit order somewhere between D-point and stoploss. Right entry price really depends on the strategy you are using. If you can stay at your computer and see what price action is doing then don´t use limit orders. By doing so you could get a better (higher) entry price for this trade. Any price between D-point and SL is valid for entry until price moves higher than X-point. Then again if you are unable to watch price action, use the limit order. Higher entry price means bigger potential profit, but that can also mean that you won´t get filled at all.

I use mainly limit orders myself.
+1 Reply
Ok. Thank you. Do you know that you use Scot Carney's rules for bats? Scott Carney never supposed his bats to be traded with limit orders. He talked about PRZ that is between 0,886XA and 1,618AB. Following Scott Carney it is mandatary to study priceaction within this range. Then you have some indication of a higher probability of one thing happening over another. But trading with limit orders is the way T2University guys (Jason Stapleton, Akil Stokes, Darren Oglsebee, Charles Miles, etc.) teach and trade bats. It is the whole different strategy. Their rules for bats differ radically. For example B-point must at least touch 0,5XA. See the difference? Have less than 0,5XA = need to study priceaction. Have 0,5XA= no need to study priceaction. That's why I asked you about the entry technique. Cheers.
+1 Reply
TPTrading PRO Alexander_Nikitin
I know that in this trade I am using Carney rules and for other guys you mentioned (Stapleton and others) rules are different. I´ve been using both styles depending on the other factors (structure and so on) in trade I´m interested in. It is good to know these other variation so you could be aware and play your trades safely with caution. Thanks for your view!
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