GBPUSD: 2 POTENTIAL Bats + Wave Count = +116 Pips Profits So Far

This was an easy one to see coming....did you see it?

WAVE COUNT

After I saw the rally following the lows set by what I marked as a completed wave A, I immediately started thinking how the 3 wave correction would unfold. If you are a seasoned wave counting trader, that's how you think. So when that rally ended, I counted that as a completed wave (W). Yes, it could be counted as an wave (A) but does it matter? Not for the purposes of trying to get on the same page as the market it doesn't! So when I saw that wave (W), of course the next thing to come MUST BE the 3-wave wave (X), right? Having seen thousands and thousands of these patterns happen over and over again over 26+ years of trading, it's pretty much ingrained into me what was to come and what I should be looking for.....

And you see how I marked it out on my chart above. Only thing that was left was for prices to follow along my projections. That is when I know that I am more likely to be right is when prices actually DO what I project. And it did. Following that completed larger wave (W), I saw the minor wave (w) and (x) complete. That made it VERY EASY to get in the SHORT trades I have going now. Especially seeing that the wave (x) ended so near to the high point of the minor wave (w). A VERY, VERY good risk:reward trade!

HARMONIC PATTERNS

Then if you are well versed in advanced harmonics patterns and been using them for years as I have, its also EASY to see the POTENTIAL Bats and that they HELP to confirm that we are going to see prices head down. Now, I am NOT advocating everyone to trade the CD legs of harmonic patterns as you have to be VERY WELL informed to do that! Because if you aren't, trading the CD leg is HIGHLY risky as really, you aren't trading a harmonic pattern since there isn't any pattern yet since it didn't complete. But if you know my trading style and have followed me for any amount of time, you know that its one of the things I do very well is now when to trade the CD legs and when not to.

Getting back to it, those 2 bats are pointing the way down to the price targets I am looking for. One is a 4HR POTENTIAL Bat and one is a DAILY POTENTIAL Bat. I have 2 SHORT trades going. One for each Bat.

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Comment:

Bat #1 Completed and I closed Trade #1 for +213 pips. Trade #2 is still open and at this moment, is +163 pips. Will be keeping that one open for the larger POTENTIAL Bat. I'll be doing a video outlining my method for how I trade these POTENTIAL Bats and when and how to trade the Bat's CD leg. PM me if you want to be informed when I release the video.