Tag Archives: shortlong

Bracketing The Market – Make Profits Either Way

Bracketing The Market – Make Profits Either Way

Bracketing The MarketBracketing is planning technique which plans for both Long and Short string opportunities in a market. There are situations in a market where it is not clear where it is heading to. It is in the middle of nowhere in sort of no man’s land. We do not have a clear indication hence no pre-planned bias on going Long or Short. In such scenarios, we can use Bracketing The Market technique.

We look for both long and short opportunities which are high probability in the market. Once the market gives a signal where it is heading we re-evaluate these planned trades to see if we can benefit from all of them or few need to be cancelled. After we have the clear signal we can also have smaller trading opportunities along the way.

For example: In this EURUSD market, we did not have a clear signal. The price was in the middle of the swing and the RSI was also at 50 level. So we planned for both Long and Short Opportunities.

Bracketing The Market - Make Profits Either Way Long OR Short
Bracketing The Market – Make Profits Either Way Long OR Short

Have a great trading time!

-TradeYodha

---------------------------------------------------------------------------------
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.
---------------------------------------------------------------------------------

AUDUSD Bat Pattern & Gartley Pattern for Long & Short #Forex #Trading

AUDUSD Bat Pattern & Gartley Patterns for Long & Short

Snapshot:

AUDUSD Bat Gartley Patterns for Long Short Forex Trade
AUDUSD Bat Gartley Patterns for Long Short Forex Trade

Reasons For Trade:

  1. Bat Pattern for Long Trade entry
  2. Gartley Pattern and Bat Pattern for Short Trade Entries

Stop Placement:

  1. For Long Bat Pattern it has to be below the X point. We see that there is 7200 level too. So stop has to go below that. This increases ours overall risk in trade.
  2. For Gartley Pattern based short entry the stop has to be above X point however we have another structure high just before that. So we will include that too. We use ATR (at the moment it is 13 pips). So stop = high+atr. It is however better to take short entry based on Bat Pattern as it gives us better R/R ratio.

Targets:

  1. For Long Bat Pattern , first target will be at 38.2 retracement and second target will be at 61.8 level.
  2. For Short Gartley Pattern first target is 38.2 retracement and second target can be start of the bat pattern
  3. For Short Bat Pattern , first target will be at 38.2 retracement and second target will be at 61.8 level.

Trade Execution:

  1. For Bat pattern we can be aggressive and front run orders before 0.7220 level.
  2. For Short Gartley Pattern wait for market confirmation using Double Top/Over Bought/Bollinger Bands/2618 type of entry technique.
  3. For Short Bat Pattern  we can be aggressive.

Concerns:

For Gatley pattern there is not much R/R ratio is not good for the first target. As SMAs are just below completion of gartley, price may just come back to retest them and go upwards.

Planned News/Events Expected:

TueOct 20 8:30am USD Building Permits

Post Execution Review:

Pending

---------------------------------------------------------------------------------
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.
---------------------------------------------------------------------------------

#GBPJPY 2618 TRADE SHORT AND LONG IDEAS (BAT PATTERN FORMATION)

#GBPJPY 2618 TRADE SHORT AND LONG IDEAS (BAT PATTERN FORMATION)

#GBPJPY 2618 TRADE SHORT AND LONG IDEAS (BAT PATTERN FORMATION)
#GBPJPY 2618 TRADE SHORT AND LONG IDEAS (BAT PATTERN FORMATION)

A. Reasons For Short Trade:

1. Double top formed with bearish divergence
2. Price may go upto retest 61.8 retracement and 200sma to give short opportunity

Stop Placement:

  1. Area above the previous High

Targets:

  1. Target will be at completion of bat pattern where 200sma is located

Trade Execution :

  1. Only one position for short

Concerns:

  1. None

B. Reasons For Long Trade:

1. Bat pattern completion
2. 200sma close to the zone

Stop Placement:

  1. Below the immediate support there is another support area. So we will have to include that too.

Targets:

  1. First target will be 38.2% retracement of AD leg
  2. Second target will be at 61.8 retracement of AD leg

Trade Execution :

  1. Aggressive entries to be taken

Concerns:

  1. None

Planned News Expected: (UK Time)

TueOct 13  9:30am GBP CPI y/y
WedOct 14 9:30am GBP Average Earnings Index 3m/y
GBP Claimant Count Change

 

Post Execution Review:

Pending

---------------------------------------------------------------------------------
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.
---------------------------------------------------------------------------------