Getting to TP1 of the daily bearish bat... I took partial profit on that position (part of TP1, TP2 still in place) with all remaining stops now at 1.1455.
Possible new bat completion in the area of the daily bat TP1, so some retracement may occur there... RSI getting oversold, no divergence however (lower low atm on RSI and MACD...).
As long as we don't break below the new bat's X point the short-term uptrend is still in place so maybe this bat might get us back to that uptrend... Also: possible H&S pattern could be forming... In such a case we could be looking at a more considerable up move so setting the targets better than usual for this bat (0.382 and 0.618 retracements) is possible (also the 0.382 ret. for this bat has poor R/R so not really ideal to use the usual targets, at least not with the SL as used here....).
Anyone should decide for themselves, depending on their individual rules, if this is worth trading and how to set SL and TP levels for this particular situation. If your bat trading or money management rules tell you otherwise: adjust accordingly or don't trade it at all, stick to your rules!
If traded I would however strongly recommend trailing SL closer to or entirely at BE when price hits either that 0.382 fib and/or the trendline, just in case we get a different scenario... Or just wait for confirmation...
Alternative scenario: Based on the fact that we don't have strong confirmation from the momentum indicators we could be getting only a limited retracement after which we could continue down to the trendline or the daily bat TP2 below...
Possible long opportunity on the bounce or short opportunity on the break of the trendline. Daily bat TP2 just a little lower so watch out if you trade the breakout: look for confirmation!
Possible new bat completion in the area of the daily bat TP1, so some retracement may occur there... RSI getting oversold, no divergence however (lower low atm on RSI and MACD...).
As long as we don't break below the new bat's X point the short-term uptrend is still in place so maybe this bat might get us back to that uptrend... Also: possible H&S pattern could be forming... In such a case we could be looking at a more considerable up move so setting the targets better than usual for this bat (0.382 and 0.618 retracements) is possible (also the 0.382 ret. for this bat has poor R/R so not really ideal to use the usual targets, at least not with the SL as used here....).
Anyone should decide for themselves, depending on their individual rules, if this is worth trading and how to set SL and TP levels for this particular situation. If your bat trading or money management rules tell you otherwise: adjust accordingly or don't trade it at all, stick to your rules!
If traded I would however strongly recommend trailing SL closer to or entirely at BE when price hits either that 0.382 fib and/or the trendline, just in case we get a different scenario... Or just wait for confirmation...
Alternative scenario: Based on the fact that we don't have strong confirmation from the momentum indicators we could be getting only a limited retracement after which we could continue down to the trendline or the daily bat TP2 below...
Possible long opportunity on the bounce or short opportunity on the break of the trendline. Daily bat TP2 just a little lower so watch out if you trade the breakout: look for confirmation!
コメント:
Posible short to bat completion?
トレード稼働中:
Entered long 1.1260, we'll see...
トレード終了: ストップロスに到達:
Entered a new long just now based on 1H MACD divergence, small position, SL below the low, trail to BE at 1.1250.
4H lower low on MACD, so still bearish there, daily close to 100MA and tested lower BB today, next possible support at 1.1148.
4H lower low on MACD, so still bearish there, daily close to 100MA and tested lower BB today, next possible support at 1.1148.
