Looking at a potential Bearish Bat pattern, with entries around 1.4029, stops and targets in the usual place as per rules. (Will always refer back to the rules!) It looks as though the Pound could be on a stair step downwards, maybe until we reach the 1.36 level. Though this is a much more medium to longer term thought! As of now, there is this...
As the title says, looking over this chart and seeing what could be another Bearish Bat opportunity on this pair. IMO if we break and close above the 1.2355 level then this has a greater chance of completing... BUT, nothing is ever certain, will just have to wait and see!
Looking left, there is an area of resistance around the 1.25 level it is one...
As the title says, smaller Bearish Cypher Pattern setup @ 1.4083.
Will be interesting to see whether this could form part of the move down to the pattern of my previous post, should hopefully be revealed in the next trading week!
As always! This is not an endorsement to trade, this is just my (humble) opinion. Trade at your own risk!
Good luck in the markets!
After taking part in the rally up on this pair, the GBP is once again offering us another potential bullish bat opportunity. Entries around the 1.3808 level and make sure you follow your rules on stops and targets!
So long as opportunities keep presenting themselves, I will keep taking advantage and do my best to let you all know!
Also, just so you don't...
Looking at another potential Bullish Bat for the GBPUSD. Stops and targets as per rule.
As always, this is not an endorsement to trade, this is just my opinion. Trade at our own risk!
Good luck in the markets!
Hello again traders!
As the title says, Bat pattern formations keep setting up for this pair of late (the recent two a potential anyway). For this one to complete, it would take quite a big move to occur first, if the pattern from my last post failed (The Bats Keep Coming (Bullish Bat Setup) post, don't judge for the spelling mistake lol!) then this would be the...
After entering a Bearish Bat pattern for the pair (2nd position still live), another Bat is potentially forming, however this time a Bullish one! This could also signify potential consolidation below the 1.25 level (imo). Entries around the 1.2356 level, stops and targets as usual based on rules (make sure you follow them rules!).
Didn't get a chance to publish this one earlier, however bearish bat, price action nearing entry price (entries at 1.2513). If you're trading this, follow your rules on stops and targets (I definitely will be!)
Good luck, and remember this is just my opinion and not an endorsement to trade. Trade at your own risk!
Hello again all,
It's been sometime since my last post as the market has been pretty directional since then. However, as the title says, looking at a potential bullish Bat pattern setting up on this pair. Stops indicated by the red line and targets indicated in green. I personally will only be taking a two target position on this pair, however I have also...
Looking at the chart at where this market could potentially be heading, and IF it got there, what the next trade could be. Due to the size, it would probably go down as a more medium/long term move however the market seems to be fulfilling the criteria for a bullish Cypher pattern. In normal conditions, I would go long at the completion of the...
Apologies for not getting this out to you all sooner however I have been tracking price action on this pair and have following the formation of a potential Bearish Bat pattern highlighted in purple on the chart. Orders have been place to take this trade so I will be hoping for price action to push a little higher first.
Though I do not trade Gartley...
A Bearish Bat has presented itself at market imo, however be mindful that the market is more erratic than usual due to the recent FOMC rate rise and statement.
If the Bat does fail, a Bearish Cypher also has also presented itself as an opportunity, which I will be watching closely.
Good luck trading!
A Bullish Bat opportunity has formed within this pair, which seems to be in line with the overall recent bullish trend. This has presented a shorter term bullish opportunity which I wanted to point out.
For those who trade the Gartley pattern, there is also a potential bullish one being formed within the same area so you can decide whether to take the...
Following on from the post yesterday, EURUSD has presented another, but smaller, opportunity in the form of a bullish bat, with entries at the 88.6 fib level (this is what I would be taking).
This is what's currently on my radar for this pair. We came up close to the 78.6 level at which there is a bearish cypher pattern however the market has started to back away from this level. Personally, if we see this pair strengthen again, I'll be looking to enter a sell position closer to the potential bearish bat as this would fulfill my SL conditions....
After seeing a BACA (Break Above Close Above) 1.94437 and above the highs of the first attempt I now believe this will act as a support level for further upside movement.
A bearish gartley pattern would be completed at 1.95808 however this is not one that I would aggressively enter due to the size of the stop loss for myself, however if this meets your rules...
A nice opportunity to catch this pair on the long or short or it could even present us with both chances. There is a possibility for a stop and reverse chance if you incorporate this into your trading.
As always stops are dependent on what your method of stop placement is (10/20 etc pip rule, ATR and so on).
As always, good luck with the markets
Be aware of...
This pair has been showing the signals for pattern opportunities.The overnight rally which missed a bullish bat pattern completion by 5 pips :(, however another potential pattern presences itself.
I would be aware of stop placement depending on what method you use as there is a bigger bearish cypher pattern, completing at the 120.33 level, that would coincide...