kschiangb6
Long

Bullish Bat Harmonic Pattern Forming On USDCHF 4-Hour Chart

FX:USDCHF   U.S. Dollar / Swiss Franc
326 4 0
A Bullish Bat Harmonic Pattern is forming on the 4-Hour Chart of USDCHF             . Planning to long this pair at 0.93730 with the stop loss @ 0.93407. TP1 @ 0.94418 and TP2 @ 94841
Stopped Out for a loss
Reply
Well, since my initial post the price has spiked above the initial Point C. However, in my opinion this pattern is still valid because price is still contained below the 61.8% retracement of the AB leg. See chart attached with the updated pattern, with new Point C.
snapshot
Reply
@motleifaul, once again you are right. I mis-typed the entry price... it should be 0.93730... where the 88.6% retracement of the XA leg is. Stop loss and profit targets remain as posted. Sorry to those who are following.
Reply
I'm sorry, but I can't understand this idea. I would expect the completion of the harmonic formation, i.e. to reach the 0.938 level.
I would go long if the bottom line at 0.945 held and we broke out of the formation.
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