Nico.Muselle

EURUSD - another 2618 leading into bat pattern completion ?

FX:EURUSD   Euro Fx/U.S. Dollar
2555 45 33
Continuing on my previous post on this pair, (which is still valid and can be found here :
EURUSD - classic 2618 trade
, we saw a retracement of price action to the upside, a double top , and a smaller 2618 setup. This pair seems to like the 2618 setups doesn't it ?

Anyway, this means I am short again on this pair and now looking for the potential bullish bat pattern to complete.

PS: The chart is just zoomed in from the previous post so apologies for the clutter.
SunnyBTC PRO
2 years ago
Hey Nico. Some thoughts as i've found this pattern fits well (atm)... Looking at the harmonic, i believe it currently fits the template of bullish crab, given the 61.8% B retracement of the X to A leg. If this is the case, then it would require the C leg to reach the 88.6% around 1.08270 to validate and this would give us a pretty solid 1.618 target for shorts around 1.0314. This also coincides with my Elliott typical wave C target and major decision point area, so there's plenty of confluence there for a hard bounce. Guess it's another option, either way, in case we're building a wave 4 flag here.

Btw the chart is an edit of Signal Suisse's in case you're wondering :)
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HiTech PRO SunnyBTC
2 years ago
I am with you on the typical wave 5 target zone
EURUSD SHORT TRADE - 300 PIP TARGET
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Nico.Muselle MOD HiTech
2 years ago
Excellent, good to know that EW and harmonics come to the same conclusion ! :)
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HiTech PRO Nico.Muselle
2 years ago
together we are stronger :)))
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Nico.Muselle MOD HiTech
2 years ago
Indeed we are ! :) Only need a few million more to force price action in that direction :D
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HiTech PRO Nico.Muselle
2 years ago
good one Nico, didn't think about it in that sense ;)
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Nico.Muselle MOD HiTech
2 years ago
Hehe, maybe we can't influence the market ... but we can try to :D
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HiTech PRO Nico.Muselle
2 years ago
by the way, cable hit the target, should start moving lower at a blue line
GBPUSD UP BEFORE DOWN
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Nico.Muselle MOD HiTech
2 years ago
It's no longer in my trading portfolio, I limited myself to 8 pairs now so I know better what each pair is doing ...
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IvanLabrie PRO Nico.Muselle
2 years ago
Which 8 pairs?
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Nico.Muselle MOD IvanLabrie
2 years ago
$GBPAUD
$NZDUSD
$EURAUD
$AUDUSD
$EURUSD
$USDCAD
$USDJPY
$EURNZD
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IvanLabrie PRO Nico.Muselle
2 years ago
Cool...You should watch GBPNZD and AUDCAD, it's a range fest, ideal for your patterns.
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IvanLabrie PRO IvanLabrie
2 years ago
(although having eurnzd and euraud, it's more or less correlated, but less choppy)
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Nico.Muselle MOD IvanLabrie
2 years ago
I might look into them ... but will trade for some time with my current pairs, then potentially swap or add some pairs where deemed necessary ;)
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IvanLabrie PRO Nico.Muselle
2 years ago
Definitely a good idea if you trade short term. I'd reduce it even more, but I trade daily and weekly bias using 4h for fine tuning.
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Nico.Muselle MOD IvanLabrie
2 years ago
I trade based off 120 and 240 mins, so 8 pairs is enough to monitor and find potential setups. My poor brain can't handle more than that for now :D
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PriceActionTrading Nico.Muselle
2 years ago
I believe limiting yourself to lesser will greatly increase your profit overtime. But thats just me.
I like being friends with these pairs, and to do that you have to pay attention to them. One cant do that if they are focusing on more than 8 pairs.
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Nico.Muselle MOD PriceActionTrading
2 years ago
Same here ... with fewer pairs, you really start to know how they react and you know of each pair where they are and what is to be expected ...
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PriceActionTrading Nico.Muselle
2 years ago
True that.
These are the pairs i trade.
EURUSD
GBPUSD
AUDUSD
NZDUSD

EURJPY
AUDJPY
GBPJPY
NZDJPY

USDJPY
USDCAD

EURGBP.
Though it is 11 pairs. first 4 are correlated. next 4 are too. and final 3 are not that but still are correlated.
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HiTech PRO Nico.Muselle
2 years ago
i got gbpaud interesting setup
GBPAUD MAJOR UPTREND CONTINUES
looks like aud and nzd are going down a lot
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HiTech PRO HiTech
2 years ago
and as the USD that is driving, I expect usdjpy to start moving lower when targets on eurusd and gbpusd are hit (if hit)
USDJPY RANGING CONTINUES
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Nico.Muselle MOD HiTech
2 years ago
I currently have a cypher pattern lined up for this pair ...
USDJPY - the Cypher pattern explained.
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HiTech PRO Nico.Muselle
2 years ago
I like that you explain your patterns
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Nico.Muselle MOD HiTech
2 years ago
So many people want to learn harmonics, so why not briefly explain how a pattern is formed ? :)
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HiTech PRO Nico.Muselle
2 years ago
this is "my way" of using it, so its not a typical setup that is commonly used, and maybe it doesn't work? I am still testing many different things... if ppl want they ask and I answer
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Nico.Muselle MOD HiTech
2 years ago
As long as you test enough your setup and find it working, any way is good. Whatever works for you I'd say, there is no right or wrong.
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Nico.Muselle MOD HiTech
2 years ago
I would not mind price going that low ... I'm ready for it :)
I don't trade crab patterns though, don't really like them as you often don't have structure to verify them against. Nevertheless, good find !
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TradeYodha PRO
2 years ago
I was on the other side of the trade today trading a Bat Pattern.

Can you please let me know what do you consider as double top? Is it just divergence or divergence with above 80 RSI?
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Nico.Muselle MOD TradeYodha
2 years ago
The double top in this case, are the candles that determine your A-point and the 2nd green candle before your C-point (which is the highest) because it's wick is above (even though it's very little) the close of the A-candles. RSI divergence is a nice to have if you trade the double top, for a 2618 setup this is not necessary as it already went down and retraced back up when you take the trade.
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TradeYodha PRO Nico.Muselle
2 years ago
Thanks Nico
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Nico.Muselle MOD TradeYodha
2 years ago
You are welcome, hope it was clear :)
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ZarNegar
2 years ago

This is my opinion.
Now the best opportunity. To buy Gold and the EUR/USD.


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Nico.Muselle MOD ZarNegar
2 years ago
Thanks for your opinion, anything is possible in Fx trading and all we can do is try to predict what the big boys are going to do, so your guess is as good as mine, only time will tell. For now, my short is working out just fine but things can change rapidly :)
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anish_206
2 years ago
@Nico_Muselle , Does this mean the pair won't break 1.0523 and go to target 2 @ 1.03779 ? Will it finish at 1.05566 and retrace back to 1.0837 ?
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Nico.Muselle MOD anish_206
2 years ago
Thanks for your question. As far as I see it, I hope price will complete the bat pattern and then retrace a little to the upside, after that it will continue it's way down. But keep following my posts, I will try and provide updates on a regular basis.
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anish_206 Nico.Muselle
2 years ago
Thanks a lot for your replay and effort Nico . Will definitely keep following. :)
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Shaior
2 years ago
Another view of this pair... Will focus on 78.6%-88.6% (either Bat or Cypher) of XA...
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Nico.Muselle MOD Shaior
2 years ago
This one looks yummy as well, good catch, I will definitely keep an eye on it !
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hodoman
2 years ago
I am in this trade with stops above 1.085. I guess this is also where your stops are, considering that is a proven resistance zone?
Cheers!
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Nico.Muselle MOD hodoman
2 years ago
Well the Cypher did not complete but we had a Gartley instead completing around 1.085, now retracing. If you are still in the trade you can hold on to it ...
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hodoman Nico.Muselle
2 years ago
Yea, I'm still holding it. I also see a potential PRZ a little above 1.09. If that also doesn't hold, I will probably close it.
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dangap
2 years ago
Ive had a bad run of cyphers this week and a few other pattern failing to complete, one pattern by one pip. Gotta stick to the rules though right.
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Nico.Muselle MOD dangap
2 years ago
The cypher did not complete and I also had a not so good week till now ... we completed a gartley now (see above) and I'm trading that down ... let's see where it will take us :)
Indeed, we have to stick to the plan that has proven to be working ... If you don't feel comfortable with it, the thing you can do is temporarily trade smaller position sizes until you regain confidence that the plan is working.
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ersoytoptas PRO
2 years ago
This Is another 2618 Trade? but EUR Going to space
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HiTech PRO ersoytoptas
2 years ago
looks like it was a stop loss hunting
EURUSD -  THE START OF DECLINE
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