Potential "Perfect" Bat Harmonic Pattern:
- Projected to complete slightly above support
- When I use the term "Perfect", I'm referring to the following conditions:
- B Point @ Initial 0.5 XA Retracement
- 2.0 BC Extension as part of Tight PRZ Confluence
- 1.27 AB=CD Completing as part of Tight PRZ Confluence
Market Structure:
- Support defined by a price action range that began in early June
- Further Past Support established in Jan and Feb
- 1D Candles
Entry Requirements:
- Beyond 0.382 Time Projection Minimum
- Long opportunity: reward/risk roughly = 1.18 > 1.0 (Including spread on entry, take profit, & stop loss)
Entry:
- Potential Reversal Zone (PRZ):
- Beautiful PRZ Confluence (<5% of Length from X to A)
- 1.27 AB=CD
- 2.0 BC Ext.
- 0.886 XA Ret.
- 2.0 BC Ext & 1.27 AB=CD Completion Within Roughly 10 Pips of Each Other
Couple Comments:
- I'm sticking to my rules & ignoring fundamentals. I don't enjoy holding positions over the weekend under normal
conditions.... so let's throw in an extremely volatile & close presidential election, why not?
- IF YOU TRADE HARMONICS, READ THE ORIGINAL BOOK BY CARNEY. ALMOST ALL INTERNET EXPLANATIONS ARE
INCOMPLETE
- Projected to complete slightly above support
- When I use the term "Perfect", I'm referring to the following conditions:
- B Point @ Initial 0.5 XA Retracement
- 2.0 BC Extension as part of Tight PRZ Confluence
- 1.27 AB=CD Completing as part of Tight PRZ Confluence
Market Structure:
- Support defined by a price action range that began in early June
- Further Past Support established in Jan and Feb
- 1D Candles
Entry Requirements:
- Beyond 0.382 Time Projection Minimum
- Long opportunity: reward/risk roughly = 1.18 > 1.0 (Including spread on entry, take profit, & stop loss)
Entry:
- Potential Reversal Zone (PRZ):
- Beautiful PRZ Confluence (<5% of Length from X to A)
- 1.27 AB=CD
- 2.0 BC Ext.
- 0.886 XA Ret.
- 2.0 BC Ext & 1.27 AB=CD Completion Within Roughly 10 Pips of Each Other
Couple Comments:
- I'm sticking to my rules & ignoring fundamentals. I don't enjoy holding positions over the weekend under normal
conditions.... so let's throw in an extremely volatile & close presidential election, why not?
- IF YOU TRADE HARMONICS, READ THE ORIGINAL BOOK BY CARNEY. ALMOST ALL INTERNET EXPLANATIONS ARE
INCOMPLETE
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.