Wednesday, April 7, 2010

Almost a "No Brainer" GBPUSD M15 Bat



I happened across this pattern yesterday afternoon on the GBPUSD.

A Bat Bearish pattern on the M15 chart- Eureka! I used a 40 pip stop loss to be outside the PRZ by about 15 pips, set my target 1 pip above the V, and let it run. (I found out the hard way that 15 pips outside the PRZ is sometimes not sufficient as on the CHFJPY M30 bullish pattern- 30 pips below the PRZ would of kept me from getting stopped out.)

(This was a virtual trade.)












This morning I found I had hit my target and it continued to go down to the about the bottom of the pattern or another 60 pips below where I exited.

1 komentarze:

TradingArsenal Team said...

Hi Dubois,
Could you write a few words about the confirmation indicator you use (the red line below the chart)?
Or maybe you could point to some material describing it.
Thanks!

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