Every potential pattern completion may be a point for a reversal of price movement. So speaking we got an opportunity coming into those completion. As of now Market did complete our Bull bat once again. And take note that we won our previous setup on this market. We can go and take trades aggressively or wait for confirmation to enter for a trade. A BO on the the upper TL we could go and LONG to a pattern completion which is a bear cypher at the same time a bear bat pattern and by which is another opportunity for us to enter SHORT. And a BO on the lower TL we could go and SHORT to another pattern completion which is a bull butterfly and by which could be another opportunity for LONG. Take care.
Trade active:
Bull Bat Pattern: 1..3017. Stops below X point.
TP1: 1.3092
TP2: 1.3140
to an extended TP on the Bear Cypher (1.3169) to Bear Bat (1.3340)
TP1: 1.3092
TP2: 1.3140
to an extended TP on the Bear Cypher (1.3169) to Bear Bat (1.3340)
Comment:
Take note of the presence of a bullish divergence right here.
Comment:
Price breaking our Bear Bat Pattern POV (point of validity) will invalidate obviously our bear setups.
Comment:
If you have enter on the Bull Bat Pattern. TP 1 is already attained. Take note of the BO on the upper trendline.
Comment:
If you have enter on the Bull Bat Pattern. TP 2 is already attained. Take note of the BO on the upper trendline. Take note of a potential bearish pattern that will be completed. expect a pressure from profit takers and sellers.
Trade active:
with the Bearish Cypher Pattern. TP 1 and TP 2 of the 38.20% and 61.80% of the C to D leg of the whole bear structure. Stops above X point.
Comment:
TP 1 of the Bear Cypher Pattern is attained.
Comment:
If you have taken the bear setup. TP 2 is already attained.
Comment:
A BO happened.
Comment:
We got a complete bear Bat here as we are now close on all LONG positions. Going to take a SHORT position on this one. Refer on the latest anaylsis on this pair.