Market reached all time highs this summer but with very low volume. In the higher time frame (Daily) we can see that the price is currently consolidating, it did breakout to the upside but couldn't hold its gains, and its now trading back in the range. It creates a lot of opportunities for harmonic pattern traders.
Today there was a valid bat formation that I didn't got involved (Blue pattern), but doing my evening analysis saw that there are two other potential patterns if we continue to retrace a bit lower.
Bat formation (Purple pattern) and a Gartley (Yellow pattern). What i do like of these confluences is that it provides with a PRZ that could give us a high probability trade.
Gotta wait and see.
Keep it simple, and focus on the process
Twitter: @JeanC680
Jean
Today there was a valid bat formation that I didn't got involved (Blue pattern), but doing my evening analysis saw that there are two other potential patterns if we continue to retrace a bit lower.
Bat formation (Purple pattern) and a Gartley (Yellow pattern). What i do like of these confluences is that it provides with a PRZ that could give us a high probability trade.
Gotta wait and see.
Keep it simple, and focus on the process
Twitter: @JeanC680
Jean