mc.blaze2
Short

Small bat pattern on the 15 min gbp/usd

FX:GBPUSD   British Pound/U.S. Dollar
111 30 0
Small Bat pattern for the day trading timeframes

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isomorph
2 years ago
if you are making money using this kind of hogwash, please let me know.
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mc.blaze2 PRO isomorph
2 years ago
Well if the pattern does complete i will make the same amount of money on this as i would on a 200 pip pattern i trade the same amount per trade not per pip
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isomorph mc.blaze2
2 years ago
because as you can see in the chart above, most bat/crab/butterfly and so on are not statistically very accurate in the SPOT FX market; i'll even dare say a lot of it is coincidental, and that's not a very good probabilistic approach in my book. i used to use them and stopped to develop my own studies and approach that work way better. that is to say, when a butterfly pattern is invalidated, my approach allows me to already be in the trade in the right direction. so i don't need to worry about these patterns and that is why i call it 'hogwash'.
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ThomasJeff_DCM PRO isomorph
2 years ago
Why do you call these trading methods hogwash? could you explain your experince?
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kate25 PRO
2 years ago
price is in demand right now - to be seen if this area will hold
snapshot
- I think your chart was a good effort - no trader has the right to say any different
+2 Reply
isomorph kate25
2 years ago
pretty much sums it all up. great chart.
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isomorph kate25
2 years ago
pretty much sums it all up. great chart.
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kate25 PRO isomorph
2 years ago
Hey Isomorph - curious about your method - are you able to post a chart of pound to look it
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kate25 PRO
2 years ago
I think there is a small demand area just above the larger which will be in play
snapshot
Blaze do you have any more charts for the pound
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mc.blaze2 PRO
2 years ago
sorry Kate i dont im just waiting for a bat completion on the 4hr usdchf
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ThomasJeff_DCM PRO mc.blaze2
2 years ago
snapshot
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ThomasJeff_DCM PRO ThomasJeff_DCM
2 years ago
Bat pattern about to complete on H4 and a Cypher down lower.
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mc.blaze2 PRO ThomasJeff_DCM
2 years ago
ill keep my eyes on the bat ... ty
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ThomasJeff_DCM PRO mc.blaze2
2 years ago
Please do, because many people posts bats that are not valid. The C retracement can not retrace so high so that it touch the 0.886 retracement. Many people on here post then where its almost is just a double top =D
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mc.blaze2 PRO ThomasJeff_DCM
2 years ago
The C retracement is valid as long as it doesnt pass the A leg sir
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ThomasJeff_DCM PRO mc.blaze2
2 years ago
I´m afraid i disagree with you, but if your trading with these levels is giving you a profitable outcome i see no need to why not
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mc.blaze2 PRO ThomasJeff_DCM
2 years ago
I only trade the way i learnt in a course with professional traders ... The B to C move Once our (AB) we can now look for a valid (C) leg . The market creates a Valid (C) leg by completing at leaste a 38.2 retracement of the A to B leg .The leg is considered valid as long as price action does not move beyond the (A) leg ...
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ThomasJeff_DCM PRO mc.blaze2
2 years ago
If its giving a profitable outcome its great, i´m actually interested in the completion rate of target 1 with these ratios. My rules or not mine but the one i learned and find in different books to be the "perfect" pattern is that it must touch the 0.618 and it can come past the 0.786 but not touch the 0.886 - If your C retracement is so high your entry level will be high too, or do you just enter on an 0.886 from X - A?
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mc.blaze2 PRO ThomasJeff_DCM
2 years ago
yes i enter 886 x to a
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ThomasJeff_DCM PRO mc.blaze2
2 years ago
Well in that case i can see that you will find a lot of valid patterns because the range of the ratios is not as tight as mine. Maybe i will try backtest it and see the outcome on a few pairs
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mc.blaze2 PRO ThomasJeff_DCM
2 years ago
i think it will be around the 55 to 60 % mark .. Do let me know how you go on and good luck in whichever way you trade them buddy :)
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kate25 PRO ThomasJeff_DCM
2 years ago
nice chart
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kate25 PRO
2 years ago
Hand circled demand area to left of price was hit - still bearish until price can start breaking supply going up
snapshot
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kate25 PRO kate25
2 years ago
I would be looking for price to cross back above pivot low and target the top green supply box - that is the origin of this initial leg down. The demand area is roughly 33 pips deep and the target is to the first green zone bottom 150 pips and the second green supply 340 pips - I like the risk to reward
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ThomasJeff_DCM PRO kate25
2 years ago
How exactly is the method behind this, it looks like when there is consolidation you trade these areas, but whats the difference from this to just trade simple Support / Resistance levels? With impulsive corrective legs?
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kate25 PRO ThomasJeff_DCM
2 years ago
When I first started learning this method I discounted as consolidation - however their is a fair amount to understand or at least to wrap your mind around when using this style - James Powell has the SD page on TV here - several good traders there - they can explain it better then me -
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kate25 PRO ThomasJeff_DCM
2 years ago
I see you have some published charts out - I started working on one to follow along - let me try again to get one done to follow along - if ok
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ThomasJeff_DCM PRO kate25
2 years ago
Yes please do, i will start following you i like your charts and would like to understand the supply demand better versus consolidation and impuls legs.
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kate25 PRO ThomasJeff_DCM
2 years ago
James Powell supply and demand Chat on TV - I will look through your published and see if I can get something together here shortly
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kate25 PRO ThomasJeff_DCM
2 years ago
I do not publish anymore - you will find my charts attached as comments to other traders - but thank you for following me
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