Here on the Pound Cad we have a gorgeous Bat pattern. Right now we See PA respecting the PRZ by throwing Indecesion Candles. Now, whether the pattern works in our favor is a different story but what we do know is the level is valid as PA raced into the PRZ and is now tangled up. im honestly looking for this Current Candle to close as a Bullish Spinning Top or Doji to justify an enterance. Based on the oscillators at the bottom of the screen im waiting for those too. but more emphasis on PA! Will Update as time draws closer to entry!
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I have stops to break even! right now PA is in a good resistance zone. If PA cant break the zone i expect to be stopped out for a profit and might look to renter.
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plus the T1 set up is complete with PA hitting the 382 ratio of the completed pattern. thats all we can ask for!
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As I pointed out earlier that the red box is a significant resistance zone! i might not re-enter unless PA Breaks out of the Zone and then ill re-buy on the retest of the zone! I was stopped out at ABOVE breakeven and after i booked some profit!
As you can see i was able to plot the pattern well before the software could and then on top of that it pulled the exact same points as i did. I stress to everyone that wants to trade harmonics and if you cant afford the pretty price tag of the software grab @ScottCarney s books and study them and learn how to plot patterns yourself. the books are cheaper and will last longer than the software. its that very mentality of teaching a man to fish rather than giving him a fish!
As you can see i was able to plot the pattern well before the software could and then on top of that it pulled the exact same points as i did. I stress to everyone that wants to trade harmonics and if you cant afford the pretty price tag of the software grab @ScottCarney s books and study them and learn how to plot patterns yourself. the books are cheaper and will last longer than the software. its that very mentality of teaching a man to fish rather than giving him a fish!
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Pattern is a good example of when to let a pattern go! for almost 3 days PA was stuck in a consolidation zone and then it rocketed out of the zone and has yet to correct! even though this trade went in our favor it could of very well gone against us!
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