Jagger_Graham
Long

Bullish Bat Pattern Pound Dollar 4 Hour

FX:GBPUSD   British Pound/U.S. Dollar
A big bat pattern looking to complete at 1.5169 Putting stops 20 pips below X at 1.5967 Target 1 at 1.5418 for 246 pips. Nice 2.42 risk to reward ratio.
Nice one!
Reply
ErrolMuller Akil_Stokes
2 years ago
Nice. Got the same one on my Radar. One question, Why are you only aiming for a target 1 and not Target 1 and 2 ?
Reply
Akil_Stokes TOP ErrolMuller
2 years ago
Is that for me or the person who posted this?
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ErrolMuller Akil_Stokes
2 years ago
Good day Akil, Its actually for the person who posted it. But since your commenting where would you rather take your profits on this?
+1 Reply
Akil_Stokes TOP ErrolMuller
2 years ago
I'd take them the same way I'd always take them. If you're a trader that only has 1 profit target, then take it off at 1 (wherever that may be). If you're a trader that trades multiple positions then stick to using 2. i see no reason to do anything out of the norm.
Reply
ErrolMuller Akil_Stokes
2 years ago
Jip, I say the same, stick to the plan. Just asked cause maybe there was a reason for him taking it at target one and you might know the answer why :)
+1 Reply
Jagger_Graham ErrolMuller
2 years ago
Hi Errol, i'm rolling stops once we hit target one and going for target 2 at the .618 Thanks!
+2 Reply
Jagger_Graham Akil_Stokes
2 years ago
Thanks Akil. Going to check your live trading room on Tuesday.
+1 Reply
Akil_Stokes TOP Jagger_Graham
2 years ago
Sweet looking forward to having you in there
Reply
Jagger_Graham
2 years ago
Thanks Akil. Going to check your live trading room on Tuesday. As for your question Errol, I'm rolling stops once we hit target one and going for target 2 at the .618 Thanks!
+1 Reply
ErrolMuller Jagger_Graham
2 years ago
Oh I see. Good trading guys lets win this Bat Sucker ;)
Reply
alan.perego
2 years ago
Hi, why do you put the D extension at 2.085? when the pattern say 2.618
Reply
Jagger_Graham alan.perego
2 years ago
Hi Alan. D completes at1.5169
Reply
alan.perego Jagger_Graham
2 years ago
Hi Jagger, thanks for the answer, but I cannot find the 1.5169 that you said in your chart. Could you tell me where is it? please thanks
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Jagger_Graham alan.perego
2 years ago
It's that blue line right where the market reversed.
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alan.perego Jagger_Graham
2 years ago
Thanks for the answer, but I could not explain me well. I mean in the Bat pattern that you draw the extension from B to C is 2.085 but in the rules for a bat pattern by Scott Carnet says should be 1.618 or 2.618.
I guess that by your analysis you found that strong support so for this reason you decide put your entry there instead of the extension of 2.618?
Reply
Jagger_Graham alan.perego
2 years ago
Oh I get what youre saying haha. I dont use the numbers off of the pattern tool to draw out my patterns. I use the fib retracement and extentions tools to measure out my patterns. The numbers that show up on the pattern itself are irrelevant.
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alan.perego Jagger_Graham
2 years ago
Thanks so I guess that pattern tool just woks to draw it not by measure the correct extension and retracenment hahaha
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Jagger_Graham alan.perego
2 years ago
Here is a good post by a guy I follow that addresses that issue.
A COMMON CYPHER PATTERN ISSUE
Reply
alan.perego Jagger_Graham
2 years ago
The good akil I haven´t seen that post, im gonna see it thanks . Good weekend
Reply
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