On the AUD.JPY 1 Hour chart we 2 potential trade opportunity's at the D leg completion of a Bullish & Bearish Bat.
Bullish Bat Setup ( Blue ) - D leg completion 74.740 Bearish Bat Setup ( Grey ) - D leg completion 77.086
Potential targets for both setups placed at the .382% and .618% retracement of the A to D move. Bullish Bat: Stop loss would be placed below X leg structure support. Bearish Bat: Stop loss would be placed above X leg structure resistance.
this is the problem of harmonic , it can give you both and down . but like the 2 predications .
UnknownUnicorn180388
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In my opinion a trading plan should be diverse enough to take advantage of a bullish or bearish trend.
hussain9
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yeah . as you can see from the chart , in harmonic it gave you a buulish bat at the beginning then it act against and go up as a bearish bat .this will make you act late as you are waiting for confirmation of B .
UnknownUnicorn180388
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The position will only be executed if price touches the D leg completion, so aslong as your analysis is in place, there shouldn't be any late or missed trades.
hussain9
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Even you can trade after reaching the D leg in the other direction using the fibonacci as price target .
UnknownUnicorn180388
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I don't mean to be disrespectful, but i am having trouble understanding your approach.
hussain9
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UnknownUnicorn180388
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If you had of got long at the D leg completion of the bullish bat, then you would have taken target 1 & target 2 before the D leg completion of the bearish bat.
At no point would you have a long and short position at the same time.
hussain9
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waht I mean , is that D id not the end of the trade , you can trade with it for another pattern .
ishstar
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Perfect entries in forex are very very rare. I myself. It's better to be late to the party then to be to early and get slaughtered.