I initially thought that Thursday & Friday would be our breakout days this week but it looks like the party has started a little early. Setting up on the EURUSD daily chart we have a potential bearish bat pattern completion up at the 1.1393-1.1500 level.
I'm not a daily chart trader, but i will be looking intraday for an opportunity to hop on a retracement and see if I can ride the wave up to this level.
It's Thursday so makes sure that you're subscribed to my youtube page as you don't want to miss today's video release. We'll see how the day goes but we may be talking about this trade in more detail.
I do have the same setup waiting for completion. Currently in a long position having fun with the break out and counting pips. :-)
Akil_Stokes
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Nice, well done, that will be a nice ride for you
gplusrsvp
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should i buy now
Akil_Stokes
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No, you should follow what your trading plan say to do. And iff you don't have a trading plan with specific rules of engagement the you should stop trading right way in my opinion
OLIGARCH
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Akil, if short takes in place, what do you think how short it can go? What would be potential TP's?
I yesterday made a mistake and sold, now hedging, and hope it will get back so I can BE.
Thanks.
Akil_Stokes
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A short from where price action is now or a short from the potential Bat?
OLIGARCH
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Sorry forget to mention, about this one I understand that we can go back to around 1.105* and there is a buy, but yes from bat. Thanks.
Akil_Stokes
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If I were in the bat pattern i'd stick to the traditional target levels. No need to shoot for anything extra in my opinion since we're still in a sideways market
OLIGARCH
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And will you be periscoping this chart tomorrow? Thanks
Akil_Stokes
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No, I thought about trying to periscope and do the live room at the same time, but it's just too much