Trade Ideas Position: GBPAUD Bat
Updated
Bearish Bat trading opportunity on this setup. To many harmonic patterns traders, this bearish bat might already be invalid but not for me. The red line act as a Profit Trend Line, if you don't know what is Profit Trend Line then you might have learned this from the wrong source.
It is still valid for a short because it does show a series of lower-high and RSI Divergence in the earlier part.
It is still a countertrend trade, if this doesn't feels right to you, don't enter.
It is still valid for a short because it does show a series of lower-high and RSI Divergence in the earlier part.
It is still a countertrend trade, if this doesn't feels right to you, don't enter.
Trade active
Stop-Loss Entry(SLE) : 1.8134(+6)Trade active
TP1: 1.8060(+80) [Extended Target]Trade closed: target reached
TP2: 1.7866(+274pips)Both targets are extended targets and I treat each individual targets as individuals trade. Total Pips capture in a single trade 354pips.
Note
Well, to most Certified Harmonic Bat Pattern Trader, this is no longer a bat pattern, but to me this is not the case. 1) I know GBPAUD quite well and I like to called him THE JUGGERNAUT, it is more volatile than THE BEAST, GBPJPY so expects some high volatile move and can be "whip-sawey" on a much lower timeframe.
2) Although the supposed Stop-Loss his hit, there is something known as 2nd chance entry or better known as Type2 Trade for Harmonic Patterns and it is within the Profit Trend-Line that you can see, hence, I've entered.
If you love to find out more and wish to acquire the skills by yourself, send me a Direct Message me.
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