The GOLD Weekly - Alterate Bearish Bat Pattern.
Mis à jour
This Alternate Bearish Bat in the GOLD(XAUUSD)shown chart exemplifies the structure of the pattern. The 0.382 retracement at the midpoint (B) was the indication of an extended 1.13 XA projection as the defining harmonic resistance level 2075 of high.
The extreme BC projection effectively complemented the 1.13 XA extension to define the precise area for the pattern completion and eventual reversal. Both extensions defined the 2050 area as an excellent short-term selling opportunity.
The requirement for Alternate Bat Pattern:
For target, I used 3 steps profit booking strategy. Let me explain to you here first and secure profit at 32.8%(1730 nearby) retracement partial holding position and next is 61.8% at 1515 nearby.
Good Luck.
Regards,
Kinnari Prajapati
The extreme BC projection effectively complemented the 1.13 XA extension to define the precise area for the pattern completion and eventual reversal. Both extensions defined the 2050 area as an excellent short-term selling opportunity.
The requirement for Alternate Bat Pattern:
- The "B" point should be 0.382/0.5/0.618
- The 1.13XA retracement
- Minimum 2.0BC projection
- at least 1.618 AB=CD
For target, I used 3 steps profit booking strategy. Let me explain to you here first and secure profit at 32.8%(1730 nearby) retracement partial holding position and next is 61.8% at 1515 nearby.
Good Luck.
Regards,
Kinnari Prajapati
Trade fermée: cible de profit atteinte
excellent
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.