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Hi traders,
Another potential bat pattern on the EURGBP 4H timeframe. Entry and completion of this pattern is at point D. Entry: 0.86294 Stop: 0.86597 Target: 0.85681 = R:RR 2.02
Good luck traders! I will be updating this chart as time progresses.
Order cancelled
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Comments
raythefif
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Hi, I like your analysis. I've noticed though, that you talk about bearish on these bat pattern. I really don't know much about harmonics, but can you tell me why you don't talk about the bullish potential between C and D?...........if it's got to do with harmonics basics, tell me and I'll go find it somewhere. But otherwise, does that mean, you're going for a long between C and D, and then short?
Thanks
11021992
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@raythefif, Thanks for your question. I'm only interested in entering short IF and WHEN price hits D (the point where the pattern completes), so that I'm always ready. The rest is not really interestering in terms of trading.
There are some people that trade the C leg, though, but I'm not one of them.
Send me a PM and I will show you a nice book about harmonic patterns.
Thanks