After heavy selling price seems to have bottomed out, I notice a potential BAT Harmonic forming here (Potential), the last point (D) is needed to confirm
First trouble area would be the daily resistance is $370 for us to get to our end goal of $390 - $400 which also lines up well
with a daily resistance adding confluence for a short setup once the harmonic has formed.
SL below C point, trade offers good RR. Let's see
First trouble area would be the daily resistance is $370 for us to get to our end goal of $390 - $400 which also lines up well
with a daily resistance adding confluence for a short setup once the harmonic has formed.
SL below C point, trade offers good RR. Let's see
Comment:
If this plays out I expect this to be the high of the week, recall weekly close was bearish, i would consider this a small relief rally to head back in line with the overall bearish PA.
Comment:
The $334.53 zone is daily support, price has been testing it a little too much without giving a nice bounce, each test absorption of sells get weaker, i'll be paying particular attention to this area as buying strength needs to come in soon for this setup to not be invalidated prematurely
Comment:
HTF price is also being supported by an upward sloping support line while the resistance level is staying flat
Comment:
SL moved to $330. IMO liquidity grab occurred on the wick down to $325, if this thing is really suppose to go out to fulfill this harmonic pattern price should not be heading lower
Comment:
Finally a move up, after updating my SL i was $0.50 away from getting stopped out. The move up, it's lacking vigor though while this trade is finally in small profit i can further minimize my loss by moving SL to $435.
I won't move to break even but price has spent enough time where I feel comfortable enough to do this knowing if I my SL is hit this pattern was never going to materialize
I won't move to break even but price has spent enough time where I feel comfortable enough to do this knowing if I my SL is hit this pattern was never going to materialize
Comment:
TS and price are so far away from KS, an extremely FLAT KS indicating bearish momentum not present in the short term, TS likes to be close to KS, i reckon
a mean reversion, also SSB is Flat while SSA is rolling to the upside, this
adds further confluence to the overall idea
www.tradingview.com/chart/96AULqa1/
a mean reversion, also SSB is Flat while SSA is rolling to the upside, this
adds further confluence to the overall idea
www.tradingview.com/chart/96AULqa1/
Comment:
Comment:
Close above $450 increases the chances we get $470 at minimum
Comment:
SL moved to $440
Comment:
Daily closed above $350 bullish
Hoping this 2H Candle closes above the B point.
SL move to $350 one this happens
We should see $370 (First trouble area) very soon, hopefully we just rip thru it
Hoping this 2H Candle closes above the B point.
SL move to $350 one this happens
We should see $370 (First trouble area) very soon, hopefully we just rip thru it
Comment:
Sold half of my position at $369, price was struggling to at the daily resistance level previously outlined and SL was moved up to $355. This is turning out to be one long drawn out harmonic
Comment:
Still struggling at the Daily $370 resistance, depending on how this candle closes i may shave more profits off this trade, playing the formation and not the confirmed pattern of a harmonic is risky but this worked out well and i'm satisfied with my profits thus far
Comment:
Forming at the daily resistance, why risk profits on an already risky trade that's in good profit hoping a pattern completes
Trade closed manually:
Closed full position, will wait for D point (if we reach their) to short will post setup
thanks for playing
thanks for playing