ninjabenja
Long

Short term long, Medium term Short, Long term Long :)

BITSTAMP:BTCUSD   Bitcoin / Dollar
The chart speaks for itself. This one is spot on. PRZ ( OTE             short) between the .618 BC             extension (at damn near $630) and .886 of XA retracement ($667), which is also on top of the "preferred" completion point of 2.00 extension BC             .


Here's the "by the book" on a harmonic Bat Pattern: http://www.trade-forex-harmonic-patterns.com/harmonic-bat-pattern.html
Just an update on the chart which is still in progress. Kudos to those who had patience- it paid off.
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Nice call! If you use heiken ashi bars and choose the top of the first red candle towards A (regard that as the X) and draw a schiff pitchfork between the extremes then D of that bat pattern comes RIGHT at the median line of that fork AND the 0.68 retracement. so I think the reversal will be at 640. Good trading.
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ninjabenja PRO HamzaLeith
Thanks for the input! Yet to play with Heiken Ashi but nice to get the added scrutiny and a bit of outside confirmation.
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HamzaLeith ninjabenja
You are welcome. It seems like a weird way to identify X but Ive been testing it for over a month now and found out that even though it increases the risk (stop loss still goes above the "conventional" X) it also made sure that I entered many winning trades based on advanced patterns which otherwise I would have missed. If you want to see an example here is an idea where Ive put it to the test upfront. Cheers
Conventional VS. My experimental advanced pattern
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