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The alternate bat pattern is a pattern I rarely spot.
This setup on USDCAD is great in a few ways.
1. Trending (Downtrend)
2. VSA principles pointing at further downside
At the PRZ of this alternate bat pattern, there was a double top yesterday.
At the 2nd top, there was a decent increase in vol with no further increase in price.
This is a classic short setup.
I have opened short at 1.2540.
SL: 1.2620 (80)
TP: 1.2370 (170)
This setup on USDCAD is great in a few ways.
1. Trending (Downtrend)
2. VSA principles pointing at further downside
At the PRZ of this alternate bat pattern, there was a double top yesterday.
At the 2nd top, there was a decent increase in vol with no further increase in price.
This is a classic short setup.
I have opened short at 1.2540.
SL: 1.2620 (80)
TP: 1.2370 (170)
Kommentar:
Shifting my SL to 1.2450 to protect 90 pips of profit.
I trade with Harmonic patterns and VSA. Follow me along my trading journey at http://terryhexiejiaoyi.com.
Currently will only blog in mandarin as most of my fans are based in China.
Currently will only blog in mandarin as most of my fans are based in China.
the price is bouncing back a little now, do you reckon the market will still go down until 1.2370 without any major change?
Antworten
@AshaDi, it might retrace to the top of the trendline before falling. If you are holding short, make sure your stops are above the highs of the trendline resistance.
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@TerryHarmonicTrading, I just closed it, bought too low and the allowed SL is also relatively low... too risky... lost lots of money on euro/usd last week, need to chill and get some solid profit back this week... currently on short AUDUSD, it retraced nearly 78% now, aiming for 100. May I ask what’s ur suggestion for other pairs?
Antworten
Target at 1.2370.