Bat bullish example of Forex EURGBP pair
For more info about the harmonic Bat pattern and the confirmation methods see -> Bat pattern - table of content
more examples to follow...
Last edited by kor4x; 12-18-2012 at 07:11 PM.
just to add here this example from our Daily Setup discussions -> Interactive Trading Setups Disscussion
Find opportunity, which means find emerging pattern ->
Apply confirmations, check the strenght of the pattern (on the chart above you see S/D zone and Pivots presented, but you can apply any confirmations you like/you use)
Wait for the entry - this is difficult step, not too early, not too late, stay focused
Enter according to your method with TakeProfits and StopLoss levels defined (if you define them static)
Move to the next opportunity. From my experience, at this point, any changes to the previously defined plan/SL/TP is causing more bad than good. But it's just my experience.
Note: Even if we Market returns and takes our StopLoss, it's not important at this stage. We followed the strategy. In the long run, following the good strategy, with same (borring !!!) steps all the time, we should be the winners.
Last edited by kor4x; 01-10-2013 at 12:06 PM.
I believe harmonic patterns has huge potential but using them incorrectly trading are risking to involve themselves in the trouble. It has a lot of coomon feature with Elliot Wave trading, and I am thinking to combine them in my Hotforex account. I got 70 pips profit from my last EUR/USD short trade and it was a pure merit of Elliot system
no, patterns have rules, and best results are reached when rules are followed exactly.