The Bigger Picture. Minisode 3 Minisode 2 Minisode 1
Bit size chunks of purely Technical analysis.
Using multiple Time frames to Identify the narrative of the market. Building a risk free position by hedging.
Using the (1m) Bullish Crab to enter the (1H) Gartley, the trade has reached 32R for a total of 5R overall profit secured. The Bulls need to retrace, Bearish Butterfly to assist, Hedging time.
TP1 (2R) HIT, 50% POSITION CLOSED TP2 (4R) @ 1.18972
The Bat Pattern , is a precise harmonic pattern discovered by Scott Carney in 2001 The pattern incorporates the 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ). The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The Bat utilizes a minimum 1.618BC projection. In addition, the AB=CD...
SCALING IN SCALING OUT The Holy Grail? How to build a risk free position.
This style is Hedge trading, creating a full sized risk free position in both directions. Closing 50% of each position at 2R creates a risk free position, should price move to the stop loss, profit for each position would be 0.75R Closing 50% of each remaining position at 4R Secures 2R profit on all positions, should price move to the stop loss, profit for each...
BEARISH BAT Vs BULLISH CYPHER Vs CONTINUED ... BEARISH GARTLEY Vs BULLISH CYPHER Vs BEARISH H&S
BEARISH BAT Vs BULLISH CYPHER Vs BEARISH GARTLEY
The Bulls and the Bears have both reached TP1 on each pattern and are now vying for dominance. This situation leads to the formation of a triangle pattern.
The Bulls have an opportunity to regain control from the Bears. Having entered on the right shoulder of the Bearish H&S pattern back on October 21st, the Bears have not quite hit their first target for the pattern. The initial harmonic reaction to the Bullish Butterfly entry is a good sign for the Bulls, I would expect a retest of the entry before a further...
The initial entry on the right shoulder of the pattern has not yet reached it's first target, having closed below the neckline the Bears now have confirmation for a second entry at the retest of the neckline. The opportunity for the retest was created by the Bullish pressure of the Butterfly pattern linked to below. Experienced traders should use the entries to...
“ The Deep Crab pattern evolved from two patterns (invalid Bat patterns and a specific type of Crab pattern). It was developed by Scott Carney as a further refinement of the basic structure. The Deep Crab is similar to the original Crab pattern, as it is a 5-point extension structure that utilizes exclusively a 161.8% XA projection for the defining level in the...
The Butterfly pattern , is a harmonic pattern discovered by Bryce Gilmore using his Wave trader software program. The pattern structure was further refined using specific Fibonacci levels by Scott Carney which he outlined in his book 'The Harmonic Trader', published in 1998. The Butterfly pattern must include an AB=CD pattern to be a valid signal. In general,...