Hey traders, just sharing some experience I have trading harmonic patterns for 6 years now.
This is a example of a trade setup that I will not take.
We see a nice bat pattern completing around 1.10.
1. Nice round number
2. Great pattern
But no thanks!
I have learnt that taking trades only at the extremes of a H4 parallel channel increases my winning % dramatically.
For this setup, the channel is sloping down, it has not hit the extreme.
Even if this is gonna turn up, it is likely gonna be just a small reaction instead of a big reversal.
Be selective, trade well and I wish those who took this trade good luck!
This is a example of a trade setup that I will not take.
We see a nice bat pattern completing around 1.10.
1. Nice round number
2. Great pattern
But no thanks!
I have learnt that taking trades only at the extremes of a H4 parallel channel increases my winning % dramatically.
For this setup, the channel is sloping down, it has not hit the extreme.
Even if this is gonna turn up, it is likely gonna be just a small reaction instead of a big reversal.
Be selective, trade well and I wish those who took this trade good luck!
