FX:GBPUSD   British Pound / U.S. Dollar
guys, a potential bat is on my radar. Shooting for extended targets here.
This pattern was found by the MPS-5.2 pattern recognition software: https://mps-trade.com

Learn to trade these patterns for free: https://mps-trade.com

My Youtube channel: https://www.youtube.com/user/alexniquitos
Alex, did you enter this trade even though it didn't reach D leg?
+1 Reply
@chargill, Yep, I put my trigger at the bullish reversal bar. It is a special bar that takes place near support levels. Its low should be LOWER than the low of the previous bar and it close should be HIGHER than the previous bar's close. The first green bar in the bottom is a great example of a reversal bar. I also pay attention to the Reward to risk Ratio. If the risk to reward becomes not favourable to me than I stay away even if I have all the confirmation for price to move higher. In this case the opportunity was still good and I entered at a worse-than-initially-expected price.
chargill Alexander_Nikitin
@Alexander_Nikitin, Very nice, thank you for the explanation.
+1 Reply
@chargill, You are welcome:)
Nice play here...agreed! :)
+1 Reply
@ZenMasterFX, thanks:)
active trade?
+1 Reply
@djmanosv, what your trade plan says? should this trade be active?
djmanosv Alexander_Nikitin
@Alexander_Nikitin, ofc $$ thanks
+1 Reply
@djmanosv, you are welcome:)
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