TRADE: EURUSD: BUY@1.11407 Bat and Bulllish Price Action

FX:EURUSD   Euro / U.S. Dollar
2408 15 50
In my last post on this pair (see Related Ideas: "QUICK ANALYSIS: EURUSD: Looking for Triangle Confirmation"), I talked about getting in LONG upon the completion of the bat pattern . Well, depending on your own broker's data vendor, either the bat was filled or it was not. Here on Tradingview, the data shows that it's NOT filled missing by 1 pip. But I will not quibble about that 1 pip as I usually will allow +/-5 pips to compensate for differing data. My own broker's data shows that the bat had been filled. So moving on.....

I got into the trade at 1.11407 AFTER seeing bullish price action occur. This PA was an early predictor of a uptrend to come. Now that DOES NOT mean that prices still can't come back down and take out the lows. It can. Anything can happen. But we are in the game to take chances, right? No risk. No reward. But the trick is to to best manage that risk vs the potential reward. Buying at this point will allow me to keep a very tight stop loss on this trade should it go south and invalidate my wave count and reason for the trade.

Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I will know my posts are useful to you. Doing so will encourage me to post more! As always, all constructive comments are welcome. Agree or disagree.
Looking good! In long from 1.1140... Would be nice to see that extension too...
sir i am following you i am living in india thanks for your sugestion on eur/usd on 1/10
thanks for following me.
muneergohar EverythingForex
Is the stop somewhere around 1.1100 or 1.1090....As Your post was aired when the prices where near 1.1161 so we decided to open long at a little higher price that is 1.1161......Hope my stop is not too wide.....I am asking for the purpose of learning and my own education.....
it go down or up 1.1200 or 1.1100 sir ?
I can't know this. No one can know this. I can only place my best guess just like everyone else.
+2 Reply
nice chart, got the same bat, and went long :D
Yeah, I think many people here are seeing that bat. Wonder how many see the triangle though? But good luck to us both!
thanks you sir
you're welcome
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