I am expecting this to be a high probability trade based on the completion of two harmonic patterns. Nice confluence of 2 fib extensions at D of ABCD . Also on hourly it printed a nice pin bar and reverse from the confluenced ratio price. As long as the price stays above last week low and fib confluence at 1166 its a buy for me. For me Alt bat has been a very reliable and successful pattern in the past. All the targets and SL on chart
I could be wrong but as per my analysis i see it as a good probability trade. If i get stopped out then there is always a next trade - thats the beauty of forex trading.
Update: 6/16/2015 : Closed all trades on this . wanna sit on sidelines till the fomc
moneymaking
⋅
Hey Gc, very good decision. It's also a good place to close all positions. Protecting our capital is the first and most important thing, making money comes after that :)
GcNaif
⋅
thanks moneymaking, it looks like it wanna do this first ,complete this big abcd at 1149
IvanLabrie
⋅
I got out of gold for now too, but still in eurusd.
GcNaif
⋅
we still on track with this long ,clones and trendlines are supporting me to be in the trade. so far 2 clones done , third in progress and 2 more to go
moneymaking
⋅
Looks good Gc :)
GcNaif
⋅
yeah, how about ur silver how is it going?
moneymaking
⋅
I am still in it, -4 pips into the trade. I took some profit from other instruments, like NGAS and OIL. Currently short in USDCAD and long in silver. How about you? You in good position?
ErrolMuller
⋅
another bat completion
GcNaif
⋅
Update: 15th June 2015: left one long on the table and rest closed