Ethereum is forming Bearish BAT Harmonic Pattern , its also forming Rising Wedge which will be confirmed at breakdown.
Ethereum is also at Weekly Supply Zone.
The Bat Pattern™, is a precise harmonic pattern™ discovered by Scott Carney in 2001
The pattern incorporates the 0.886 XA retracement, as the defining element in the Potential Reversal Zone (PRZ).
The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The Bat utilizes a minimum 1.618BC projection.
In addition, the AB=CD pattern™ within the Bat pattern™ is extended and usually requires a 1.27 AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.
Possible targets are mentioned on the chart.
Hit the Boost Button if you like my idea.
Ethereum is also at Weekly Supply Zone.
The Bat Pattern™, is a precise harmonic pattern™ discovered by Scott Carney in 2001
The pattern incorporates the 0.886 XA retracement, as the defining element in the Potential Reversal Zone (PRZ).
The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The Bat utilizes a minimum 1.618BC projection.
In addition, the AB=CD pattern™ within the Bat pattern™ is extended and usually requires a 1.27 AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.
Possible targets are mentioned on the chart.
Hit the Boost Button if you like my idea.
Comment:
If we breakdown the Rising Wedge 1680 , 1604 , 1503 are the possible targets
Comment:
it formed BEARISH BAT and we are in trade now with the mentioned targets.
Trade active:
First Target Successfully Achieved
Trade closed: target reached
