Finally filled short on the bearish bat pattern that we’ve been waiting for on the EURUSD. We’ve got a small rising wedge with bearish divergence on the RSI heading into that level which is a plus, but at the end of the day the pattern is the pattern is the pattern.
We’ve been on a heater as of late, hopefully we can keep things rolling with the Euro.
With the pattern being technically invalid, now is the perfect time to use the "graceful exit" strategy that we talked about it last nights evening video. If you're allowed to ofcourse
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We came 10 pips away from hitting our initial target stops are now rolled to breakeven to eliminate all risk. Also here's a video talking about the "Graceful Exit" strategy that i talked about earlier
CHA-CHING!!!! Very good discipline on this one traders. To come that close to getting stopped out, followed by coming that close to targets before bouncing up again. Way to wait it through. Truly a GOOD trade.
If there is no selloff today, then pair should get to 1.50 in no time.
Akil_Stokes
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how long would you say "no time is?"
berkek
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Maybe tomorrow.
ernestohands
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1.50 is that a joke?
berkek
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Oh sorry about that. I meant 1.15...
rozela99
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It is in my plan that once I am entered into an advance pattern trade. It does not become invalid until either my stop loss or my targets are hit. I sure miss the live room. I will return soon. Thanks Akil!
TamaYU
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i have the same strategy.. @akil, i know that a pattern is invalidated once the D leg closes above the X (for a bat gartley and cypher), but what if it never touch your stops yet, would you still hold, or sell on a break even point? TIA
Akil_Stokes
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I still hold until I'm either stopped out, or like in this case targets are achieved
Akil_Stokes
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Can't wait to see you back in there.
TradeYodha
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Akil, the news event has made this pair and Bat Pattern an emotional roller coaster :)