dojitrader
Long

Bat Pattern Completes At Bottom of Triangle's Wave E Potential ?

FX:USDCAD   U.S. Dollar/Canadian Dollar
80 3 3
Decent looking Bat pattern completes right near the bottom
of the Triangle Wave E and stops are the same just below C
which is also X making both patterns invalid should price trade
below. Looks confirming too me and low risk to find out if
I'm right or wrong.
Interesting, what does this tell you?
Reply
dojitrader
2 years ago
To me it tells me that one analysis is confirming another
and both say go long at about the same price with the
same risk. So this is a well defined trade set up with
a fairly exact entry price with low risk precise stops
and profit targets that tells me if I'm right or soooo
wrong that I'll have to hide from my embarrassment
and humiliation for at least a few hours or the next trade
set up occurs and I've long since forgotten the last trade -
win or lose. (something like that) LOL maybe ?
{{One caveat that I forgot to put in the description is that
E waves are notorious for turning well before hitting the trend line
so the candlesticks might have me into this trade sooner
rather than later}}
Reply
Sandeep_Gupta
2 years ago
I also found the Bat pattern with the same entry lol.
Reply
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