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Bat

GMXUSDT -BULLISH Harmonic Bat🦇 +30% TPHi Traders, Investors and Speculators of the Charts 📈📉 Harmonic Bat Patterns or Cypher Patterns are a great way to setup a trade, if you can spot them . They are generally hard to spot, but plotting one out gives you a clear entry, stop loss and three TP (take profit) levels. GMXUSDT is already past the entry and the first TP, but TP 2 and TP 3 are still possible. Here's a little bit more info on what to look out for on a Harmonic Bat Pattern : And if you're looking for a quick masterclass on Harmonic Patterns bullish and bearish, find it here : _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
36
A mistake that most traders might makeOn the right is the daily chart, and on the left is the 4-hourly chart. It is a common mistake for traders that have been trading for 3-5 years and believe that the higher timeframe always supersedes the lower timeframe. Similar to corporate hierarchy, our superior is not always correct. There are a couple of factors that determine that. One of it depends on the overall market bias on the currency. My Bias on the US Dollar pairs remains bullish; hence, I'm not motivated to short USDJPY aggressively when the market has a Bearish Bat Pattern formation. I would require to see a further market confirmation, like a Double Top form at completion, giving me an RSI Divergence before shorting the trade. On the other hand, I'm waiting to long the USDJPY at 135.00 on the 4-hourly chart, which happens to be the Key Support Level.
Long
by RaynLim
2
I told you so...This is 1 crazy trade that we did on 22 Feb 23 (links within the TradingView Post). If you have been following us for years, you would agree that my interest in sharing LIVE analysis than to show how much I had earned in a trade. That is because I do not find how that could benefit you. With that said, the purpose of my sharing my analysis as it is; is to show you the thought process of how traders react at every turn. Currently, we are 40pips away from our target of 0.6688(+219pips), which gives us a profit factor of 8.11. That means for every $1 we risk, my potential profit is $8.11. That means even with a 20% accuracy rate by setting every loss at -50pips, my net profits in pips is 411pips. This significantly reduces the level of stress when we trade and give us more time to do the things we love to do. In an unlikely scenario that the market retests back to 0.6786 would allow traders to consider if they would hop on the latest trade with their first target points to the recent low on the 1-hourly chart. In this example, that would be 0.6721, giving the First Target a 65pips profit potential. I would recommend having good risk management and planning your own trade, and not following the trade blindly.
Short
by RaynLim