ilmscore | Prediction Details
"here on the Euro Canada we had another two target winning bat pattern and I'm going to let you guys see if you can spot that before I draw it in if I zoom in pretty close to this area of consolidation here you should be able to see it quite easily using this as our impulsive move coming down we're taking a retracement and as we talked about earlier in the other bat pattern our first retracement needs to be 50% followed by the second retracement which is from this leg down here our a point up to B that retracement has to be at least 382 but cannot close below a and That rule was also met so once those two rules are met then we set our position tool then we set our limit order at the 886 retracement for the way I trade these Advanced patterns and a stop loss above x with a Target at a 382 retracement and as you can see the bat pattern can produce a little more than a one to1 risk reward and as you can see using the bat pattern normally produces a little more than a 1 to1 risk reward on your first targets which is beneficial yet it is a little less accurate than our Cipher pattern for me this pattern performs at a winning ratio between 55 and 65% depending on the year and how I decide to take targets and set stop losses but for most strategies when you sacrifice risk to reward you end up with a higher winning percentage and when you sacrifice winning percentage you end up with a little higher risk reward so it's all about finding the balance between the two when you're testing strategies even strategies such as advanced patterns so I got a little ahead of myself here placing targets let's go ahead and draw the pattern in X to A A to B B to C and a CD completion at 886 which was hit and is already hit first and second Targets on this move down here"
By The Trading Channel (The Trading Channel) | February 1, 2017 | Pending
From video
Advanced Pattern Watchlist ( episode 2 ) 00:06:52 - 00:08:39
Interpreted Prediction
A Euro/Canada bat pattern completed and hit its first and second targets. The speaker notes that bat patterns typically offer slightly more than a 1:1 risk-reward but are less accurate than cipher patterns, with a winning ratio between 55-65%.

Prediction Details

Ticker
EURCAD

Comments

0 comments

Be the first to share your thoughts.

Like this prediction?

Join to make your opinion count.