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
Comments
kschiangb6
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Stopped Out for a loss
kschiangb6
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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.
kschiangb6
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@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.
motleifaul
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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.