Tag Archives: EURUSD

Uncategorized

EURUSD Bat Pattern and Gartley Pattern Long and Short Trading

October 21, 2015 TradeYodha Leave a comment

EURUSD Bat Pattern and Gartley Pattern Long and Short Trading

Snapshot:

Reasons For Trade:

For long entry we have Gartley pattern completing just above 1.1320
For short entry we have a bat pattern completing around 1.1430 level

Stop Placement:

For long Gartley entry stop needs to be 1 ATR i.e. 13 pips below A. See concerns below.
For Short Bat Pattern we can have stops just above A around 1.1470

Targets:

First Targets at: 38.2 Fibonacci
Second Targets at : 61.8

Trade Execution:

Take first target and close 60%

Concerns:

10sma is in the middle of 50sma and 200sma causing market to get stuck at the moment. So if market goes on to complete Bat pattern it will be in uptrend. That means we will have to be careful about our extended targets.
If the market goes to complete gartley pattern we may not be in down trend. We will still be consolidating as long as it respects point A. However we will have 50sma and 200sma above us that means we will again have to be careful with our extended targets.
Also for gartley pattern stop placement is not clear as the next level is below 1.1279 which gives us a huge risk area.

Planned News/Events Expected:

TueOct 20

8:30am

USD

Building Permits

ThuOct 22	7:45am	EUR	Minimum Bid Rate	0.05%	0.05%
	8:30am	EUR	ECB Press Conference
		USD	Unemployment Claims

FriOct 23	3:00am	EUR		French Flash Manufacturing PMI			50.2	50.6
	3:30am	EUR		German Flash Manufacturing PMI

Post Execution Review:

22-Oct-2015: Closed this order. I was waiting for confirmation to take position. Today’s price action has invalids this trade idea. So orders cancelled.

---------------------------------------------------------------------------------
Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------

Uncategorized

EURUSD SHORT #TRADE SMA RETEST FIBONACCI STRUCTURE #FOREX

October 18, 2015 TradeYodha Leave a comment

EURUSD SHORT #TRADE SMA RETEST FIBONACCI STRUCTURE

View It On TradingView

Reasons For Trade:

1. 10sma is lagging behind and EURUSD price has tested 200sma 2 times already. If the prices come back up to touch 10sma, we will have an opportunity to go short.
2. Price is currently in down trend and is not oversold yet.

Stop Placement:

Above 50 sma at least and previous high

Targets:

First Target at: 1:1 R/R i.e. 127.2 Fib extension. That is where 61.8 Fib retracement of impulse leg has confleunce.
Second Target at 161.8 Fib extension. That is where 78.6 Fib retracement of impulse leg has confleunce.

Trade Execution:

Wait for a confirmation inside the zone to take an entry as this is a wide zone.
As soon as the target 1 hit, close 50% of positon, move stops 50% down as price may come back up to retest and fall down again.

Concerns:

The price may try going over 50sma to touch a zone around 1.1442 area of EURUSD

Planned News Expected: (UK Time)

TueOct 20

1:30pm

USD

Building Permits

Post Execution Review:

Pending

Uncategorized

EURUSD 4H Bat Pattern Trade

October 12, 2015 TradeYodha Leave a comment

EURUSD SHORT IDEA (BAT PATTERN) – 12-Oct-2015

Reasons For Trade:

1. Bat Pattern
2. Close Fibonacci Confluence of 0.886XA leg with 1.618 AB leg
3. RSI has been overbought i.e. above 80

Stop Placement:

1.113 or 1 ATR (37 Pips) above Structure High i.e. Point X of Bat Pattern

Targets:

38.2 Fib Retracement of AD Leg will be the first target
61.8 Fib Retracement of AD Leg will be the second target

Trade Execution:

Let the price reach the PRZ and look for Double Top or Bearish Divergence or an Advanced Harmonic Pattern completion in the zone on a lower time frame i..e. 1H or 15M chart.
As soon as Target 1 is hit, move the stop to break even and close half of the position.

Concerns: