Experimenting with the bat patterns on the 4 hour charts, and caught this set up. I just started drawing these so please if anyone see's any mistakes or something to tweak please, please, please let me know. Bat patterns use the .886 fib for an entry. So for this set up I want to see price make it to $50.46. that is where i will have my limit short order in. I will take a smaller than normal size position and use a wider stop because of all the political tension. I want to have room to at least see the trade till the previous high pivot. The stop will be set at $52. Target 1 will be at point B $47.16, I will cover half the position if met. If target 1 is met the stop will be moved to ensure the trade is profitable. Target 2 will be at $43.61 where i will cover the last half. I really like trying to find these patterns and chart them out. Hope this will help others, and encourage you to try your own! Enjoy and may your trades prosper well.
