Here we see a sloppy bat pattern that decided to rally before completion. I believe the market got "close enough" to call it and make the trade anyways.
I have placed my entry at the highest low of the pattern, just because i like the way it works out with the risk to reward ratio.
Since we know that we will always place our limit at the 1.618 extension of the BC leg, and our stop at the lowest low of the pattern , the highest low always seems to give us roughly a 2:1 risk reward ratio, which is why i place my orders there, the consistency makes me a more profitable trader.
Anyways so my limit is at the 1.618 extension of the BC leg and my stop is at the lowest low of the Bat pattern.
Thanks for opeining us up and checking us out, dont forget to like if you agree, comment and even follow.
Thank you and Good Trading
I have placed my entry at the highest low of the pattern, just because i like the way it works out with the risk to reward ratio.
Since we know that we will always place our limit at the 1.618 extension of the BC leg, and our stop at the lowest low of the pattern , the highest low always seems to give us roughly a 2:1 risk reward ratio, which is why i place my orders there, the consistency makes me a more profitable trader.
Anyways so my limit is at the 1.618 extension of the BC leg and my stop is at the lowest low of the Bat pattern.
Thanks for opeining us up and checking us out, dont forget to like if you agree, comment and even follow.
Thank you and Good Trading