dojitrader
Long

Bat Could Land Into Support, But The .618 A Magnet ???

FX:USDCHF   U.S. Dollar / Swiss Franc
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3
129 5
Reasonable harmonics/symmetry in this Bat
and pretty good support zone with low risk.
Price action is corrective so it would seem a good
area to get on board a dollar reversal.
The "maybe" in this trade is the .618 ??
Will it pull price action through my stops and then reverse ???
Rules say take the Bat with stops at 1.13 fib ext of X to A ~~~~
The Mental battle begins ~~~~~
0.618 on Daily chart FIB?
Reply
If you go out to the daily chart and take the last
or most recent swing low to swing high
the .618 fib retracement is about .8830
Unless I did it wrong.
Best wishes for lots of pips !!!!!
+1 Reply
Well, I'm expecting some like this,

you're, the gartley pattern, will see.
Reply
maybe you should take next bottom where price touches .618XA down as point B, and expect BC not touch .886XA UP as poin C.
good luck bro!
Reply
dojitrader RobertoTosi
I'm not sure I understand your suggestion.
If you get a chance post a chart with the pattern
you suggest and it might help me visualize your thoughts.
Are you saying I should ignore the Bat and wait for a Gartley ?
Thanks for your thoughts !
Reply
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