Thread: Interactive Trading Setups Disscussion

Originally Posted by j10da

H1 AUDUSD emerging Bearish AB=CD

Attachment 3417

j10da: Thanks a lot for your post, it has helped me to 200+ pips in a day! It has drawn my attention to look into the additional possibilities at the right moment.
Now I am with you on the other end waiting to enter short btw - at a higher TF trend line + abcd+ bear bat... adds up nicely, and hope will work out fine as well .
I like two heads more than just one, I think thisa is the purpose of co-operation. Please post more!
Thanks again.

Gold
http://charts.mql5.com/2/51/gold-h4-...ents-inc-2.png
market weakness so time to short? Why not when we predict on audusd short too ; )
Target: trend line or bottom of gold rectangle

Hi all,

I took yesterday this Bat pattern. Opened at 0.9256. Want to take 80pips profit to the 38.2 Fibo. What's your opionion regarding the exit point for this trade???

Gold looks promising, now I need to wait for a good entry, I missed the ABCD at 1295 level need either retracement, or breaking the smaller trendline.

abdelaziz: general recommendations usually tp1: @38,2 or @level B whatever is sooner (stop to break even) and tp2: @61,8 or you might trail it as you prefer. I know it is general, but I do not know better.

Thx Lobogabor for your answer. What do you mean by level B???

The B point in the Bat pattern (fib retracement of the XA leg 38,2-50%). In case of the AudUsd bat it was around 0,9120.
The B point is generally a strong S/R in the pattern. According to Carney one could use this level also for entry on the way from C to the direction to D. He called it in his book as BAMM.
My entry missed the ABCD completion level by a hair, and the 88,6% D level by more than 10 pips, so I am not in it (yet).

Thanks a lot Lobogabor! I understand now and I already Red Scott Carnex books very interesting. I'll try to get of of this trade before 14:30 (GMT+1), before some important news on the USD. Thanks a lot