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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.
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.
Antworten
@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.