we can get short trade if bat pattern has complete at 1.3433 . or breakdown flag channel This is not an investment recommendation or any call to buy or sell It is just an analysis based on a study of the history of price action Behavior , that may not be a necessarily reason for the success of the structure or repetition. So please make your decision based on your vision .
To protect capital and manage your deals and trading successfully the maximum loss in each transaction for the same currency or commodity in the same direction should not exceed ( 2% ) of the capital . Good luck
Actually, looks like it was your breakdown of the flag channel.
edumas2
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I thought you were waiting for the Bat pattern to complete. If you don't mind, let me know what is the thought process when you decide to drop the original trading plan and go short at your TP1 level. I am just getting into those type of patterns though I like fibs.
Golden_Spiral
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@edumas2, When I analyzed the pair, the flag channel was complete, but it was possible that the price could continue rise up to complete bat pattern , so I set two short ponit the first breaking the flag and the second with the completion of the bat >>