Fxprotrader
Short

EURGBP: Bearish Bat Pattern Completion

FX:EURGBP   Euro Fx/British Pound
873 5 34
Price has completed a bearish bat pattern with RSI being overbought and with a bearish divergence in present. For those who trade harmonics according to their rules, you may now enter with a sell, aiming for the 0.382 and 0.618 fib levels of AD wave. Stoploss should be placed above X point. I will personally wait for a median line setup which is close to complete. In either case this pattern has great potential to deliver good profits.
BrandonWoodard
6 months ago
That's not a Bat. X to A requires at least 50% fib Retracement.
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Fxprotrader TOP BrandonWoodard
6 months ago
Price must touch the 0.382 fib retracement of XA and should not touch the 0.618 (we watch for gartley in that case). So this is a valid bat...
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BrandonWoodard Fxprotrader
6 months ago
Price must touch 0.50% and not 0.618% of XA Retracement The Cypher is the only advanced pattern that calls for 0.382 Retracement of XA not the BAT!
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Fxprotrader TOP BrandonWoodard
6 months ago
Ok, i don't know if i am allowed to post in a comment a link of another source.. But you may goodle the ratios of the pattern and see yourself. Anyway, no offense at all, just my thoughts.. Thanks for commenting :)
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Lord1 Fxprotrader
6 months ago
Dude, it's gotta be 50% retracement at least. :D lol
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