Bat Pattern point B below 50% C close below 88,6% D 88,6% XA confluence TP 38,2% AD - 0,98636 61,8% AD - 0,96837 SL -10 pips of X - 0,92952
Strong divegence of MACD confirms reversal
Comments
Alexander_Nikitin
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Hello, what are your rules for XA identification?
plezar
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It's the first wave of any XABCD pattern. Remember that several price waves may exist within a single harmonic wave (for instance a CD wave or AB wave). Prices are constantly gyrating; therefore, it is important to focus on the bigger picture of the time frame being traded. The fractal nature of the markets allows the theory to be applied from the smallest to largest time frames. To identify the pattern follow these proportions: vk.com/doc200859621_437523184?hash=c1d2af14157382222a&dl=d4ba2c04369b24a612
Alexander_Nikitin
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I was not asing you for the ratios. I only asked you for your XA identification rules. Your answer of "It's the first wave of any XABCD pattern. Remember that several price waves may exist within a single harmonic wave (for instance a CD wave or AB wave)" tells absolutely nothing. Let me put my questin in a different way. What are your rules for identifying "the first wave of any XABCD pattern"?
plezar
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Sorry, misunderstood you. Actually, I have no idea how to explain it. We just see that trend went in flat, but then started forming strong ascending movement, we choose the lowest as X and highest as A, as it is bullish bat. If have any other way of explanation or you've found any mistakes, please tell me.
Alexander_Nikitin
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Well, I do have my own rules. If you are interested you can look for them in my profile. I was interested in yours. And as far as I have understood you do not have them. It's a pity))