Harmonic trading combines combines geometric patterns and and Fibonacci numbers to help make predictions under the premise that history repeats itself.
If this is a Bullish bat, it will likely complete such that point D will be a 0.886 retracement of the original XA wave, which is where I have it placed now.
Theoretically, this is the best place to open a long position to use this bullish pattern to your advantage. Traders frequently place a stop loss tight and just under this zone.
The completion of this pattern and whether or not it plays out remains to be seen.
This is for educational purposes only and is not meant to be used for trading advice in any way.
If this is a Bullish bat, it will likely complete such that point D will be a 0.886 retracement of the original XA wave, which is where I have it placed now.
Theoretically, this is the best place to open a long position to use this bullish pattern to your advantage. Traders frequently place a stop loss tight and just under this zone.
The completion of this pattern and whether or not it plays out remains to be seen.
This is for educational purposes only and is not meant to be used for trading advice in any way.