LeeFuGuo
Short

Posible Bullish Crab? Short Bias

FX:XAUUSD   Gold / U.S. Dollar
414 10 7
Gold             ( XAUUSD             ) in 1 hour chart, I saw
1) Bullish Crab
2) Ex-support and resistance level
USD seem to be weakening due to the election currently held in US as country risk (uncertainty) is higher. Therefore, entering short in Gold             pair are quite risky as short in Gold             = believing USD will be appreciate. So this trade will only be executed when there is more confirmation on trend reversal. If the price move beyond 1276.6 (AB leg 0.886 Fibo retracement), this pattern will no longer be valid anymore.

DISCLAIMER:
I'm only providing my own thought toward the market but not making any trade call.

Hit the like button if you agree with my idea. As it will give me confidence to continue posting my idea. And feel free to comment in a respectful manner if you have a different view on it. Appreciate :)
Comment:
snapshot

waiting ~~~
Trade active
Comment: SL 1282
TP 1235
R:R 4.5
SL will move to breakeven when price reached 1259
Comment: SL move to breakeven
Another free trade :D
Comment: SL at breakeven ... Lol
Next Opportunity !!!
I feel price will move lower now. It was a stop hunting !
Reply
LeeFuGuo waterman
I think the same before the price hit 1283 ~
for me ....... currently I don't see any opportunity in Gold ... :)
Reply
Hi, That is maybe a bat you are showing here no ?
Reply
LeeFuGuo BLUE43
Actually it need to depends on the D leg to know whether its Bat or Crab ~ because the ratio of B leg reversal for Bat is 0.382 - 0.5 , for Crab is 0.382 - 0.618 which these 2 ratio are applicable to this chart. But I drawn the D leg more than 0.886 of XA leg, so it should be classified as Crab, am I right?
Correct me if I'm wrong because I'm new to harmonic. Still learning on how these pattern works :)
Reply
BLUE43 TOP LeeFuGuo
yes nomal Bat are on 0.886 but alternative Bat can go to 1.13 (like shark) keep that in mind when you take a trade with using good money management (for your SL) or to add more if goes to that exention.
Reply
extension sorry
Reply
https://www.fxgroundworks.com/alternative-bat-pattern/
Reply
LeeFuGuo BLUE43
wow !!!!! Thanks for that information ... I never know about this alt bat !
Seem like there is still a lot for me to learn ... Really appreciate your help :)
Ya ~ my R&R always more than 1 ... normally is around 2.5 and sometimes can up to 7 :)
Besides, I will always move my SL to breakeven to preserve my capital :)
Reply
BLUE43 TOP LeeFuGuo
it can be on big trend move up or down. To check have a alternative Bat it will be better have a B at 0.5 than lower.
Reply
LeeFuGuo BLUE43
Thanks for the information :D
Really appreciate what you have done ... Thank you :D
Reply
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