GBPUSD: Bullish Bat Pattern After Inflation Report

FX:GBPUSD   British Pound/U.S. Dollar
Hey traders we just had the inflation & interest rate news come out for the GBP pairs and the reaction is sending price action down to a potential advanced pattern completing at 1.5269's. i like to give 15 minutes for news to play itself out and afterwards I'm allowed to continue my trading

Also as a reminder tomorrow is also a big news day as we have the month Non Farms Payroll release, so make sure you refer to your trading plan on how you handle these types of events. Word of advice, if you don't have a plan, you probably shouldn't be trading this...or anything else until you develop one.

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Trade active: fille dlong
Trade active: Filled Long
Trade closed: stop reached
Comment: Just a reminder I have my Live Q&A, today, so if you have questions about this trade you can certainly ask them there. https://www.youtube.com/watch?v=hEIVEXhsx94
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down 120 pips because of this news
+1 Reply
Hey Bugdung, I don't mind at all if you share charts under my ideas. Feel free
Pretty new to trading and trading view so not sure where to post this, i follow a lot of your vids akil, think i found a cypher ?
I don't know if this is a new thing you're doing here on Trading View or not but I really like that updates that show when the trade is filled and whether it hits your SL or TP. That is super helpful.
+2 Reply
I like it as well, my only problem is remembering to consistently update it. I agree though pretty cool especially for those following the idea to get an idea on the progression of the trade
+2 Reply
Hey Akil. Just a couple of questions.... I see from above it appears that you had two entries - are you entering half positions each time or did you just correct the English of the first? And, do your trading rules account for taking a new position going into a major news event like the non-farms payroll release? I've often heard many will not take trades in stocks right before earnings releases. Too much uncertainty. It is interesting to see that the PA hesitated just above that 1.52 level before crashing down. Looking left seems indicate structure supporting this. Anyway, this looks like it would be a 70 pip loss or so. Not fun, but that's the way it goes sometimes. Keep up the great work here for us that appreciate it and just let the haters hate!
Hey Caifu, Actually I misspelled "filled" on the first one so I simply typed it in again. With that being said I do break my position up in order to have a both conservative and aggressive target level on certain trades. The Non Farm Payroll is one of the releases that I do not actively trade during, there's just too much whipsaw making the market very unpredictable during the initial "emotional" reaction to the news. For news events as such I'll give a "15 minute" breathing period for the smoke to settle and start looking for opportunities afterwards.
It's common to have good trades and bad trades. Having good trades does not make you a good trader. Having bad trades does not make you a bad trader either. Everyone should take responsibilities for their own trades, no matter it's their own analysis or from other's ideas. Akil thanks for your generous sharing.
+2 Reply
santoroma colinsheen
it's right you are saying
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