not in my collection of powerful patterns ... but it's an M30/H1 so may offer a good entry from M1/M5.
not in my collection of powerful patterns ... but it's an M30/H1 so may offer a good entry from M1/M5.
Week finished, each day on PLUS, on each account, not bad week![]()
Best two locations for the butterfly pattern: FOREX Harmonic Trading: Best two locations for the butterfly pattern
According to my approach to harmonic trading this what you call above a Bat is not proper Bat pattern, as it's not in the proper chart/fractal location.
It's the same as the Gartley pattern location (which is explained in more details here: Gartley pattern and Elliot Wave theory) the bat pattern is the most powerful and R:R worth trading when formed as the first correction in a new trend, see -> Bat pattern and Elliot Wave theory
Thanks kor4x for your very informative comment and links. Scott Carney doesn't seem to highlight very much this point in his books. Your webiste goes into harmonics in a very detailed manner. Really appreciate that. I know there is a thread about it but which authors and books do you recommend for harmonics?
Last edited by forexft; 02-09-2013 at 11:43 PM.