XAUUSD Short - Great R:R
Keeping it simple - working with a Bullish Bat Harmonic Pattern.
*This is my observation, this is NOT financial advice.*
The XABCD Rules are as follows:
X-A = Swing Low to Swing High
A-B = Between a .382 to .5 retracement of Wave X-A - In this example, it is a .5
B-C = Between a .382 to .886 retracement of Wave AB - In this example, it is a .886, which is $1737.881 (it may go slightly higher than that price, but only by a wick, the candle-body must close below / at the .886)
C-D = A .886 retracement of the X-A leg, which would be roughly $1593 which would be our target in this case.
I also see this as a potential ZigZag formation so I have highlighted various targets on the way down as well (yellow rectangles).
For trading purposes. I would short between the .854 to .886 retracement of Wave A-B ($1735.12 - $1737.881) and set a stop loss roughly $1 above the previous high (placed at $1749) - risking less than 0.75% with a great R:R as you can see, worth a shot in my opinion.
Let me know your thoughts below!
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Thanks
*This is my observation, this is NOT financial advice.*
The XABCD Rules are as follows:
X-A = Swing Low to Swing High
A-B = Between a .382 to .5 retracement of Wave X-A - In this example, it is a .5
B-C = Between a .382 to .886 retracement of Wave AB - In this example, it is a .886, which is $1737.881 (it may go slightly higher than that price, but only by a wick, the candle-body must close below / at the .886)
C-D = A .886 retracement of the X-A leg, which would be roughly $1593 which would be our target in this case.
I also see this as a potential ZigZag formation so I have highlighted various targets on the way down as well (yellow rectangles).
For trading purposes. I would short between the .854 to .886 retracement of Wave A-B ($1735.12 - $1737.881) and set a stop loss roughly $1 above the previous high (placed at $1749) - risking less than 0.75% with a great R:R as you can see, worth a shot in my opinion.
Let me know your thoughts below!
If you enjoy my content, make sure to 'like' and 'subscribe' for more!
Thanks
تم فتح الصفقة
1st of 4 targets reached.
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.