UPDATE: Prices have closed above this bear Bat making it INVALID. Will wait to and re-analyze for another entry.
In my previous post about this pair, "USDCHF: 1 Bearish BAT near complete + 1 Bullish Cypher Waiting..", I alerted everyone about a possible bearish Bat pattern that could be near to complete. PA has now reached it's D point to complete the pattern. Additionally, the RSI shows an oversold condition. I am now short on this pair with S/L at Point X of the Bat.
UPDATE! This bearish BAT has now been invalidated. Prices have closed above the X point of this pattern. Will re-analyze the market and wait to look for another entry......
ForexEasypips
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It has hit my stop loss. wgat do u think with a long?
EverythingForex
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The S/L for this trade should be above the X point at 0.94263. Prices have not yet reached there yet. If it does get stopped out, then that's the end of the trade. I would not get long just because you got stopped out. I would wait and re-access the situation and make another plan as to what to do next.
Also, I would wait and see what kind of price bar (candlestick if you use that) develops. If it DOES NOT CLOSE above the X point, then I would consider a possible re-entry short as IMO, unless it closes above the X point, the pattern is still valid.