*Personal Journal* Im looking to long EURUSD as a trend trade, but using a pattern trade as my entry reason. My analysis is still the same: Bullish trend>Pullback. But this time instead of looking for a slow down on the sellers, I'm looking to get aggresive with a Bat pattern.
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Just saw a video of one of the traders I like to follow that is looking EXACTLY at this same set up! Great feeling to see your mentors made the exact same analysis as you did. Instead of looking for a Bat pattern he set a Gartley in here, but in my charts the gartley dosn't really match, but the entry point is very close.
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I'm looking at a very similar setup on EURJPY, both pairs are heavily correlated so I'll take only EURJPY in case the patterns complete to avoid all the USD news that are comming.
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Market showing a pinbar, thats another entry reason if the R:R its good enough.
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Trade now active, we have the Bat pattern and 2 rejections already on the same zone for price action. Entry: 1.20138 SL: 1.19788 TP: 1.20694
I'll avoid EURJPY trade now.
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Target hit just before news. Profit: 1.59 R Didn't get the 3.10 R I was expecting because of the indecision between EURJPY and this pair, but still got a good profit.