Oztrade
Short

GBPAUD - 4H POTENTIAL BIG BEARISH BAT

FX:GBPAUD   British Pound/Australian Dollar
160 3 6
Hi All, not sure if I posted this the other day but I have had this on the radar after we completed our B leg, after FOMC with the jump in the USD and this pair somewhat correlates with AUDUSD             we seen the drop in AUDUSD             which in turn pushed this pair slightly higher.

With the momentum of the USD maybe we will see this pair continue upwards, we can only see 3 things in trading, up down or sideways.

If we continues upwards on screen as always Green entry Zone, Stops Level and Initial Targets

Keeping in mind if this meets your rules for trading then it could be a great opportunity for great reward, but in saying this if you normally trade 15M and 1H charts then this could be the difference of winning 10 trades and losing it all in one trade.

I like to stick to my rules for trading and dont change my TTF (Trading Time Frame) however I still like to publish other Time frame analysis for those who do trade them.

The potential Risk is 300 or so pips reward as you can see for 2 targets if the pattern completes could be T1 400+ and T2 600+ bringing a total of 1000+

Green Entry Zone - 88.6% - I would keep my order just below this entry level

Stops Minimum above X @1.113%

Targets - to be adjusted on D completion - keep your limits orders or targets just above the 38.2% and 61.8% to ensure your target is reached

Second stop moved down to break even when target 1 is reached

Good Luck and happy trading
BLUE43 TOP
a year ago
400 pips sl for 400 pips first target ? 0.382
Reply
Oztrade BLUE43
a year ago
On screen you can see the R:R is better than 1:1 - most BAT patterns have a better risk reward than say a Cypher because the entry is 88.6% from X - S/L here is minimum -277 Pips for potential T1 of +410 - with this I trade every BAT and Cypher I can find in the 5 pairs in my portfolio. After performing 5 years of historical data backtesting and 6 months forward testing, I have the data needed for the strategy I trade. This is not a problem at all with seeing these large S/L on this currency pair, GBPAUD has a very large ATR where as seeing a BAT or a CYPHER in say EURJPY with a +150 S/L is more rare than this pair. If I could put $0.50 into a machine and 70% of the time it gave me $1.00 how many times would I put in $0.50 cents, thats right as many times as possible. As long as I trade consistently and not miss the patterns in my pairs then it has a positive expectancy and produces great returns. Not sure if I read your question correctly -277 for +410 if it stops on a dime at 88.6% - then T2 would be a potential +665 - bringing total for this trade +1075
Reply
IvanLabrie PRO
a year ago
Interesting, I have a short signal around here, but not yet confirmed. My bullish target is on chart:
GBPAUD: Shorts are favored

Thoughts?
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