I have had my eye on this forming bullish Bat Harmonic for the past couple of days, but have probably missed the optimal entry.
I shall continue to work my bid at the text book Bat entry level (as if they actually ever get filled on a successful Bat trade), but am keeping my eye on the forming diamond price structure, for further signals that might warrant taking a long trade.
The higher time frame signals suggesting a reversal aren't complete or top grade, but are still suggestive of a bit of a retracement.
I shall continue to work my bid at the text book Bat entry level (as if they actually ever get filled on a successful Bat trade), but am keeping my eye on the forming diamond price structure, for further signals that might warrant taking a long trade.
The higher time frame signals suggesting a reversal aren't complete or top grade, but are still suggestive of a bit of a retracement.
Note
Given the train wreck bear trend, I am not hitting this Harmonic Bat idea blind.Now looking at 5 min chart for bullish reversal signal
Note
Entered Trade on Ping candle down to 76.4% level on Aussie open. The trade quickly netted a 2:1 rr, and then worked it's way back down to my entry level where I left the trade at exact scratch.For the 2nd time today, taking risky counter trend reversal trades, I have passed up 2:1 profits, and have been left with nothing (or very little).
Must make a note (for the umpteenth time) to try to avoid Counter Trend ideas and/or keep profit objectives tight.
Trade closed manually
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.