Euro / Swiss FrancShort
EURCHF - Harmonics Bat Pattern - potential sell
Price reached a 4 Hours Order Block and it has completed a GARTLEY Harmonic Pattern that shows potential reversal.
BAT PATTERN - USING THE XABCD TOOL:
X - The highest point
A - the lowest point
XB - 0.382 - 0.618 Fib ratio
AC - 0.382 - 0.886 Fib ratio
XD - 0.886 Fib ratio
BD - 1.618 - 2.618
Once D is completed , we look for a potential trend reversal.
ENTRY ZONE - is the 4H order block area.
We need to wait for the following:
1- price has to go at least at 50% into the 4H order block
2 - price has to BOS- break structure downwards in 15 MIN
3 - price has to retrace to at least 38-61% FIB LEVELS
STOP LOSS
above the X point (add the spread) or above the 4H Order Block
TARGETS
TP1 - 61.8 level of Fib extension
TP2 - 32.8 level of Fib extension
Both TP align with order blocks
#SMARTMONEY
#EURCHF
#INSTITUTIONALLEVELS
#GARTLEY PATTERN
#HARMONIC PATTERNS
BAT PATTERN - USING THE XABCD TOOL:
X - The highest point
A - the lowest point
XB - 0.382 - 0.618 Fib ratio
AC - 0.382 - 0.886 Fib ratio
XD - 0.886 Fib ratio
BD - 1.618 - 2.618
Once D is completed , we look for a potential trend reversal.
ENTRY ZONE - is the 4H order block area.
We need to wait for the following:
1- price has to go at least at 50% into the 4H order block
2 - price has to BOS- break structure downwards in 15 MIN
3 - price has to retrace to at least 38-61% FIB LEVELS
STOP LOSS
above the X point (add the spread) or above the 4H Order Block
TARGETS
TP1 - 61.8 level of Fib extension
TP2 - 32.8 level of Fib extension
Both TP align with order blocks
#SMARTMONEY
#EURCHF
#INSTITUTIONALLEVELS
#GARTLEY PATTERN
#HARMONIC PATTERNS
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.