4H Bat Pattern @ Support [Ranging]
- 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%*
- 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%*
- 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
!!!!!
Commentaire:
favorable price action on test of PRZ but PRZ and support failed to hold... on to the next!