XAUUSD - Bullish Bat & Bearish Continuation Part II

This past Tuesday I shared the this trading idea on gold looking for a bearish continuation trade which would lead to a bullish bat pattern. One of the questions that I received on youtube was "what can we look for, if price were to reach the bat pattern completion zone?"

For me personally, I trade all advanced pattern formations aggressively, meaning I simply put a limit order at the start of the completion zone. However, a less aggressive approach that you could take would be to look for a specific reason for entry once price hits that zone.

This chart represents a perfect example of one as price has double bottomed in that zone providing a trader with a much more conservative approach to longs. An even more conservative option would be waiting for a 2618.

Hope you found this helpful

Akil