GOLD IS FORMING BEARISH BAT PATTERN IN DAY CHART

kanesandy (30)in #goldadvisory • 4 years ago (edited)

how to trade on bat patterns

Entry point -

The best entry point is the 88.6 percent Fibonacci retracement which is a very accurate market turning point. It is recommended that traders should enter as soon as they reach the 88.6 %level. Oftentimes the harmonic bat pattern strategy doesn’t go much above this level.

Stop loss -

Stop loss to be placed just above the swing high at point X

Take-profit margin -

Target one should be set at the swing high of point B (38.2%fibonacci level), Target two should be set at the slight above the point of C (61.8%fibonacci level) , and finally the last target, Target three, should be set at the swing low of point A(100%fibonacci level)

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Prior to choosing to exchange unfamiliar trade you ought to painstakingly think about your venture destinations, level of involvement, and hazard hunger. The chance exists that you could support a deficiency of a few or the entirety of your underlying venture and in this way you ought not put away cash that you can't stand to lose. You ought to know about every one of the dangers related with unfamiliar trade exchanging, and look for exhortation from an autonomous monetary counselor on the off chance that you have any questions.