We have XABC, and almost D.
Lets set a limit order.
SL: 15 pips.
TP: 15, 30, 45, 60 pips.
What is the Bat harmonic pattern?
The pattern is a 5-point retracement structure that was discovered in 2001 by Scott Carney. It has particular Fibonacci measurements for every point within its structure. It is necessary to note that D is not a point, but rather a zone in which price is probably going to reverse. This zone is known as the Potential Reversal Zone (PRZ).
The B point retracement of the primary XA leg has to be lower than a 0.618, preferably a 0.50 or 0.382. The PRZ is made up of 3 converging harmonic levels:
0.886 retracement of the primary XA leg
Extended AB=CD chart pattern, mostly 1.27 AB=CD
Minimum BC projection is 1.618
Info by patternswizard
Wait until 2 hours.
Then, if it reaches the price, wait another 5 hours for closing.
See you soon.
JB.-
Lets set a limit order.
SL: 15 pips.
TP: 15, 30, 45, 60 pips.
What is the Bat harmonic pattern?
The pattern is a 5-point retracement structure that was discovered in 2001 by Scott Carney. It has particular Fibonacci measurements for every point within its structure. It is necessary to note that D is not a point, but rather a zone in which price is probably going to reverse. This zone is known as the Potential Reversal Zone (PRZ).
The B point retracement of the primary XA leg has to be lower than a 0.618, preferably a 0.50 or 0.382. The PRZ is made up of 3 converging harmonic levels:
0.886 retracement of the primary XA leg
Extended AB=CD chart pattern, mostly 1.27 AB=CD
Minimum BC projection is 1.618
Info by patternswizard
Wait until 2 hours.
Then, if it reaches the price, wait another 5 hours for closing.
See you soon.
JB.-
Trade closed: target reached:
30 pips reached.