Waiting for the pull back before i possibly jump in for the long.
Let's get it. (I'm being real short on my posts today because I'm super busy. Sorry.)
Target for gold is 1318. Will be looking for a long around that price
We have confirmed harmonic activity at the 88.6% XA leg of the 30 m Bat. This trade is active and targets , my entry as well as stop loss are posted.
Currently watching for some sort of Harmonic activity. Basically waiting for price to react bearishly here around the 1.618%. Do not just jump in the trade without confluencing confirmation. RSI is looking good. Ill be watching for bearish activity here and will try to alert when I enter
Positive Harmonic Activity At the 88.6 XA of this harmonic Bat
Looking for some harmonic activity around 6500 price range. At minimum I'm expecting a nice pull back to the 8000 range. RSI also confirming the over extension of price around the 6500 range. Let's see what she does
The Harmonic Bat pattern has the following characteristics which can be used to identify the Bat pattern. AB leg can retrace between 38.2% – 50% of XA leg BC leg can retrace between 38.2% – 88.6% of AB leg CD leg can retrace up to 88.6% of XA leg CD leg can also be an extension of between 1.618% – 2.618% of AB leg AB=CD Price and Time: Under this type of ABCD...
AB leg can retrace between 38.2% or 50% of XA leg BC leg can retrace between 38.2% - 88.6% of AB leg CD leg retraces 88.6% of BC leg
The Shark pattern has the following ratios. BC leg extends AX leg between 113% – 161.8% CD leg extends beyond X by 113% of the XA leg CD leg is also an extension of BC by 161.8% – 224% Unlike other harmonic patterns, the trades are entered as follows: Entry is at 88.6% of XA leg with stops coming in at point D Targets can be 61.8% of CD
AB leg can retrace between 38.2% or 50% of XA leg BC leg can retrace between 38.2% – 88.6% of AB leg CD leg can retrace up to 88.6% of XA leg CD leg can also be an extension of between 1.618% – 2.618% of BC leg
•AB leg can retrace 38.2% or 50% of XA leg •BC leg can retrace between 38.2% – 88.6% of AB leg •CD leg can retrace up to 88.6% of XA leg •CD leg can also be an extension of between 1.618% – 2.618% of BC leg