Could you post how you figured out the point inside the red circle? I am not that good in HP. I know ratios of the triangles are the key factors. Seems to me you used the fib retracement instead of ratios.
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Hi DB, Always Enjoy your reading your comments. Haven't posted for a while (while still lurking) but i am with u that AU is bullish...here is my chart that shows my view that a reversal has formed imo. As we can see in pic that we bounce on 123% of the WK range we had...channel bounce and we have crossed WK 50% fibo... As long as price is above this 9571 area...price will be pressured higher... TT {image}Ignored
Well I am short since .96 and kept it over weekend. Here's the reason, I see a Bullish Gartley. My TP 1st @.953 and then .95 and then final .949 While I have ordered long @.95 with SL .945 and TP @.98 as it's 38.2 fib level since last May fall. Well I am not sure about .98 Maybe I will close it before but I don't see any resistance there. {image}Ignored
{quote} Scott, nice projection. Could you post how you figured out the point inside the red circle? I am not that good in HP. I know ratios of the triangles are the key factors. Seems to me you used the fib retracement instead of ratios. {image}Ignored
{quote} Hi DB, Posted a potential bat pattern where D would be .886 of XA. The Bat Pattern The Bat pattern is a precise harmonic pattern discovered by Scott Carney (www.harmonictrader.com/abouttheauthor.htm) 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 pattern within the Bat is extended and usually...Ignored
{quote} Thanks. I saw this diagram before. My question was related to how to find the endpoint. Is a vertical ratio or a diagonal ratio used to decide the endpoint?Ignored
{quote} Hi DB, Posted a potential bat pattern where D would be .886 of XA. The Bat Pattern The Bat pattern is a precise harmonic pattern discovered by Scott Carney (www.harmonictrader.com/abouttheauthor.htm) 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 pattern within the Bat is extended and usually...Ignored
Aud Daily is nearing a Long but not yet..........Range for a bit........... If the H1 can stay long so will the H4 or the opposite.................. The ADX is very LOW on the H1 so something big is brewing , look for a fake out.............. {image} {image} {image}Ignored
{quote} Because of my profession, I looked at the diagram in another way. The diagrams below indicate my interpretation of the original diagrams. Correct me if I am wrong. {image}Ignored
{quote} Because of my profession, I looked at the diagram in another way. The diagrams below indicate my interpretation of the original diagrams. Correct me if I am wrong. {image}Ignored
{quote} DB, I believe you have got the idea. I like harmonics as they rely on fibs and fit in nicely with EWP. D is a fib retracement of the original swing down and depending upon the pattern, should comply with S/D zones and a BC projection. In this case B is 50% of XA, so that says potential bat to me(although different people can have different rules) and a bat must be less than .618 and is preferred to be either .382 or .50. The BC projections should be in the same area as the fib retracement. For a bat, BC projection MUST be at least 1.618,...Ignored
{quote} Alieno, you were very bearish not long ago. Now, are you changing your mind?Ignored
{quote} Yes....I am a wave rider........I change long to short and back by what I see in each TF............... drawception.com/viewgame/b7ReGLdRs4/coolfroganddolphin/ can't take the credit..........Ignored
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