Possible bat or alt bat
patterns to enter short from. The alt bat
has my preference since it completes close to the 61.8% fib level and to possible resistance from a downsloping trendline
. The bat(s) are very premature since PA has not completed C yet but I'm counting on further movements between the lower support and higher resistance zones @ the 38.2 and 61.8 fib levels and am trying to catch some of the action...
The short trade has it's SL well above the resistance zone
@ the 61.8 fib level and also above the down trendline
Agressive traders could attempt to catch the move up from a bounce of a possible up trendline
and . 886 retracement
of the AB leg of one of the possible bats and with SL well below the support zone
PLEASE NOTE: THIS LONG TRADE IS A HIGH RISK TRADE AND I AM NOT TAKING IT MYSELF!!