Akil_Stokes
Short

GBPCHF Bat Pattern Retesting Previous Structure High's

FX:GBPCHF   British Pound/Swiss Franc
I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the daily. As a countertrend trader it's important to realize that I'm not looking for the big long-term move, simply a brief correction.

If this correction rolls over more than expected there's a 2nd potential bat pattern down at our previous structure lows giving true trend continuation traders an excellent spot to get involved with an outstanding risk/reward.

*Had issues posting them together but check out my ideas for the daily view of this chart relating to my comments*
Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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fxoutlier
2 years ago
The bearish bat looks good, nice to be long the chf with world events and the summer here. The bullish bat will line up the 886 with the 1.618 so looks good also. Love these ideas on tradingview. Hope they get their stuff sorted out soon, couldn't get on yesterday.
+1 Reply
fxoutlier
2 years ago
got big bearish divergence on my 240m macd, lining up with that bearish bat
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fxoutlier
2 years ago
is that constellation software you're using on tradingview?
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Akil_Stokes TOP fxoutlier
2 years ago
No this is not constellation, just drawing it by hand the good old fashion way. Constellation is only coded fro NinjaTrader and MetaTrader
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fxoutlier Akil_Stokes
2 years ago
pity can't stand mt4, it does my brains in.
+1 Reply
McODAL
2 years ago
Everytime this stop hunting issue :(. How can this be handled Akil? It seems like one ATR...
Reply
fxoutlier McODAL
2 years ago
Maybe instead of entering at point D, we should enter where we put our stops. We know what will happen if we do that though.
+1 Reply
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