FullTimeTrader
Short

EURUSD-trading the triangle-bearish bat

FX:EURUSD   Euro Fx/U.S. Dollar
1253 14 26
Hello friends, im happy because my EURUSD             trade so far is working good.
Im trading a big triangle on D1 chart. Right now im long but im expecting to take profits at this bat completion and then try to short.

The figure 1.145000 gives me more confidence placing the SL above it.

Trade carefully!!

Best regards
you mean 1.145 :-)
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Yes, sorry for the mistake, i've already corrected it
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Same view.
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IvanLabrie PRO IvanLabrie
Alt bat?
Wave e going that far might make momentum look off.
But it's still possible.
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FullTimeTrader IvanLabrie
Yes, if we are trading a triangle according to EW the bat is aligning perfectly with the EW rule that wave E cannot go beyond wave C. The end of wave C is the invalidation point so its allow to have a small SL if this setup fails
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IvanLabrie PRO FullTimeTrader
Good thinking.
Have you given my alternate count some thought?
This being a B wave triangle of a larger triple three?
Would make the leg up now a D.
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IvanLabrie PRO IvanLabrie
What's the target for the alt bat?
If it aligns with a low above the trendlines we might have our answer there.
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FullTimeTrader IvanLabrie
I agree, we could have a larger correction, i prefer a double zigzag because the 5-3-5 waves a clearer. If the price breaks the level shown then the triangle will be invalidated and i will try to add more positions.

snapshot
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IvanLabrie PRO FullTimeTrader
Yes, that's good too, but the momentum and not strong enough second A 5th wave rally makes me doubt it. I think this is 95% sure a triangle.
Where does it start is my only doubt.
We can go long if we gap down without breaching the lower trendline.
Pretty aggressive entry.
Do you have any other pattern that fits a wave
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FullTimeTrader IvanLabrie
i have this alternate count that expects more consolidation, but the triangle is my prefered count and i must stick to i until the price shows the contrary
snapshot
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IvanLabrie PRO FullTimeTrader
That's entirely possible too.
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If everybody thinks it is a bearish bat pattern, then it won't play out as a bearish bat pattern ... :)

EURUSD: Potential Bearish Bat Pattern


EUR/USD - BAT PATTERN
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