Developed by Scott Carney, the harmonic bat pattern, a variation of the Gartley harmonic pattern, is a 5-point retracement structure composed of Fibonacci measurements used to create a potential reversal zone, or PRZ.
Updated June 2020 While it’s true all trading strategies shoulder losing setups, some losses can be avoided. Experienced traders are conscious of what’s ahead on the economic calendar. Newer traders, though, often expose positions to unnecessary risk around news time. Price Action – News Economic news releases can drastically affect price movement. Depending if market … Continue reading The Importance of the Economic Calendar
‘It pays to know where you are in the bigger picture’. We’re not entirely sure where this statement originated from, but it is certainly one that should be memorized. What is a multi-timeframe approach? It’s no secret that adopting a multi-timeframe approach can enhance your trading. The problem, however, is that some traders find it … Continue reading Using a Multi-Timeframe Approach
Fearful money, or as we like to refer to it as ‘hot money’, is capital that a trader has a strong emotional attachment to. In other words, it is money that one CANNOT afford to lose, and therefore, should not really be using it to trade the markets with. An example of hot money is … Continue reading What Does Fearful Money mean to Traders?
Updated September 2020 Many envision a sense of freedom when introduced to trading – freedom to spend more time with family, freedom to travel, freedom to lead life on their terms. Regrettably, this freedom fails to materialise for the majority of traders. Traders, particularly newer traders, want freedom and success now. They fail to understand … Continue reading Trading the Higher Timeframes: An Overview
