- Potential Bullish Bat harmonic pattern to complete at support
- Support defined by a price action range that began in early August
- Past Support established on 8/5, then held on 8/6 and 8/18.
- 4H Candles
- Long opportunity: reward to risk of roughly 1.14 to 1.0
(including spread on entry, take profit, and stop loss).
- Potential Reversal Zone (PRZ):
- PRZ < 12%*[(A point) - (X point)]
- 1.618 AB=CD
- 1.41 BC Ext.
- 0.886 XA Ret.
- Potential for Oversold on RSI
- Potential Bearish Bat on opposite side of range:
- If Subject Bullish Bat completes and take profits are hit,I'll be
looking to enter a short pos'n at the completion of the
Bearish Bat if price can reach the top of the range.
!!!!!
IF YOU TRADE HARMONICS, READ THE ORIGINAL BOOK BY CARNEY. ALMOST ALL INTERNET EXPLANATIONS ARE INCOMPLETE
!!!!!
- Support defined by a price action range that began in early August
- Past Support established on 8/5, then held on 8/6 and 8/18.
- 4H Candles
- Long opportunity: reward to risk of roughly 1.14 to 1.0
(including spread on entry, take profit, and stop loss).
- Potential Reversal Zone (PRZ):
- PRZ < 12%*[(A point) - (X point)]
- 1.618 AB=CD
- 1.41 BC Ext.
- 0.886 XA Ret.
- Potential for Oversold on RSI
- Potential Bearish Bat on opposite side of range:
- If Subject Bullish Bat completes and take profits are hit,I'll be
looking to enter a short pos'n at the completion of the
Bearish Bat if price can reach the top of the range.
!!!!!
IF YOU TRADE HARMONICS, READ THE ORIGINAL BOOK BY CARNEY. ALMOST ALL INTERNET EXPLANATIONS ARE INCOMPLETE
!!!!!
Note
favorable price action on test of PRZ but PRZ and support failed to hold... on to the next!
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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.
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.