Felix_Hoevelborn
Short

USDJPY SHORT AT MARKET! BAT PATTERN IN KILLZONE FOR SHORT!

FX:USDJPY   U.S. Dollar/Japanese Yen
7 months ago
One of my favorite setups: Coming back into previous structure while forming a harmonic pattern . IN this case a bearish bat pattern .

Stops and Targets as shown. This is a swing trading idea. Follow your own trading plan!
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7 months ago
Trade active: Short @ 108.40
7 months ago
Trade closed: stop reached
TradZ
7 months ago
I'm still not convinced that this is the completion of the bat pattern but your analysis is correct. I believe it will head to 108.8 before the actual SHORT takes hold:)
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Felix_Hoevelborn TradZ
7 months ago
Why shouldn't it be "the completion"?
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TradZ Felix_Hoevelborn
7 months ago
Idk trading is also about feel and I just feel that there is a little bit more room for upwards correction before heading down. Were just not ready to go down just yet:)
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Felix_Hoevelborn TradZ
7 months ago
I see. I do not spend time on feelings. For me it's a pattern that fits my plan and therefore it's completed at that 88,6 % Retracement. It's not about winning this particular trade. It's about taking those trade in the long run to be profitable. That is what "I FEEL". Greets
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TradZ Felix_Hoevelborn
7 months ago
Like I said I feel your analysis is correct, I just believe we won't see any of your targets hit until we reach back up to @least 108.8 so, long term you will win:)
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Felix_Hoevelborn TradZ
7 months ago
I understand what you mean. But make sure you have strict rules you follow. Emotions can be very contradictory!
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TradZ Felix_Hoevelborn
7 months ago
Tell me about it! I'm still learning as I go:)
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Felix_Hoevelborn TradZ
7 months ago
You have to have strict rules IF the market does .... THEN .... IF ... THEN.
Next step is to test those rules!
See if this strategy (yes, your rules are your strategy) has a positive outcome! IF NOT repeat it with different rules.
IF yes then test the execution on a demo account. DON'T let emotions influence your strategy! It's the number one reason 90% fail. Because the are emotional!

Work hard.
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TradZ Felix_Hoevelborn
7 months ago
True! so did you enter in@around 108.4? Just curious
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Felix_Hoevelborn TradZ
7 months ago
Yes.
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TradZ Felix_Hoevelborn
7 months ago
See how I use my feelings along with analysis:)
Never know but sometimes you have to go with your gut. I'm just upset because I let ppl discern my thoughts on this trade making me just exist the market completely today:(
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TradZ TradZ
7 months ago
Just saying, I knew it would hit 108.8 1st b4 your direction by how the day was going and how the daily chart looks
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SymmetricalTrading TradZ
7 months ago
Hunches and guess and feelings have no part in trading. Experience does however :D
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TradZ SymmetricalTrading
7 months ago
Everyone who plays this game, guesses:) You guessed it was heading down before up & guess what, you guessed wrong sorry to say:( Not hear to gloat, just saying that it is feelings. Without feelings, we couldn't make decisions. And these guesses are educated guesses:) I'm also a technical type and I read chart patterns as well...
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JesseChan TradZ
7 months ago
Tradz, agree with you, he went on short too fast. I guess he is losing quite a lot based on that long green bar
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TradZ JesseChan
7 months ago
lol they dnt call me TradZ for nothing:) But yeah he went in too early!!!
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TradZ TradZ
7 months ago
He good! I believe his STOP is placed somewhere around 109 BUT! 0nce the Euro takes action, it's gone be a wrap! I can see it going up to 110, maybe a bit higher than back down:)
Hopefully he already closed his position to start over
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Felix_Hoevelborn TradZ
7 months ago
Hopefully you don't mess up others trading and start to work on your own trading skills. Thats what professionals do each day.
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TradZ Felix_Hoevelborn
7 months ago
You mean what you did today by letting other believe it was heading down when in fact in did a U-turn lol I've help If anything? I'm giving my opinions just like you and everyone trading:)
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Felix_Hoevelborn TradZ
7 months ago
I never said that this trade will win. That this trade will turn down immediately. I just said that its critical to follow your rules. Thats what I did. So I don't care what you think.
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TradZ Felix_Hoevelborn
7 months ago
I never said you said you would win, I was just going off of what your prediction was which was heading down to your target before going back up. You asked me why would it and I told you why. No need to get upset because I was right, sometimes I'm wrong just like everyone else here.
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TucKinetti TradZ
7 months ago
is the SHORT still on!
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TradZ TucKinetti
7 months ago
Not for certain just yet, the market is still deciding:)
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Felix_Hoevelborn
7 months ago
As long as I dont hit the Stop the trade is still on.
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In the same trade! Good luck to us!
+1 Reply
ThomasJeff_DCM PRO Mandeep.Singh
7 months ago
The same trade here too, TradZ - The thing is you need to have stright rules for how you go about in the markets. If you dont have trict rules for your entry, stop and targets that can me tested and mesured over 500-1000 trades then you got no edge. Your gut don´t have a 60% win ratio on these loose predictions. How will you build and maintain a proper money management system from your gut feel trades. Felix, me and other traders know that over hundreds of trades a Bat pattern with the correct ratios as used here will have a 60% win ratio with a good R:R = it´s making money. This one trade does not matter, this month don´t matter. This year matters at the end! Trading is long term with strict rules that is tested to be profitable over years. Then a real traders job is to just execute that egde day in and day out without any emotions. Build yourself a tradeplan and stop spending time guessing, then you are better of in a casino.
+1 Reply
Mandeep.Singh PRO ThomasJeff_DCM
7 months ago
Couldn't agree more.
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Felix_Hoevelborn ThomasJeff_DCM
7 months ago
Cheers.
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Lee001
7 months ago
I took a shorts on usd/jpy on a ab=cd set up at 108.460 H1 and got stopped out at 108.960
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