EURUSD: Did Wave C Just Start? Bull Bat TP1+TP2 Hit (+222 pips)

31 ביולי 2015

No sooner can I click the button to close 70% of my LONGS from the bull bat positions than the market goes nuclear!!! Aaaarrrrggghhhh! If I had just waited another few minutes.....oh, well. Can't complain about making profits though.

So this pair has now hit both the TP1 and the TP2 of this bullish bat that was completed. It seems that the .707 retrace within the Goldilocks Zone and also the extended 2.24 AB=CD targets were enough to trigger the bull move. So is this the beginning if the wave C up I have been talking about and being so patient waiting for almost a WHOLE MONTH now? YES! It could very be. At least I am now playing it that way. I still have my LONG positions that I started to build back from the H&S pattern on the previous wave up that was the bottom of this contracting triangle consolidation I had mentioned back 30 days ago was a possible scenario. Here's an updated look at it and what I am expecting:

I'll do a full analysis this weekend and post it. But for now, if you are with me....ENJOY THE RIDE! And stop doubting the Power of Patterns!