Major Head & Shoulders is in formation for Right Shoulder to be completed at 0.618 of the entire bullish impulse, which is also retracement 0.382 of the Deep Bat Pattern (Alternate Bat)
Alternate Bat Pattern confirmations:
- A-B must touch 0.5, but cannot touch 0.618
- B-C must touch 0.618, but cannot exceed A (FIbo A-B) or just keep an eye on that 0.236
- D ...
The alternate bat pattern is a pattern I rarely spot.
This setup on USDCAD is great in a few ways.
1. Trending (Downtrend)
2. VSA principles pointing at further downside
At the PRZ of this alternate bat pattern, there was a double top yesterday.
At the 2nd top, there was a decent increase in vol with no further increase in price.
This is a classic short ...
Bearish alt bat formation will raise odds for nice move down after breaking high. Please take into account the yellow trendline.
1) Never risk more than 2% of your account.
2) Try to be emotionless by applying your strategy to the pip.
3) Invest to yourself and then your capital. Try to educate yourself along with the signals and enhance your risk intelligence ...
Interesting time fib setup on this pair, the two moves shown with dotted lines have both their 1,382 at last friday's bar. Price is outside the weekly and daily bollinger bands. There is also an alternate bat with a potent pi extension, credits to @jolicoeur342 on that one.
I started a small position here, but will add on subsequent signals, keep you updated. ...
Wait for your signal to enter, I believe this might go to the 0,618 CD retrace, close to the pitchfork channel. I also think there is a chance for a stronger downward pressure after that point. I will publish later on.
It's possible that DXY will bring some help to this, watch it.
Good luck, and thanks for your comments.
Today we are looking at a bullish alternate bat on the 1D chart with CHF/JPY.
With price creating a lower low, we can expect price to makes it's way down to D point an reverse.
Alternate bats are a powerful pattern, and indicate huge trend reversals.
Risk Ratio - 1:6
The measurements for a valid alternate bat pattern are detailed below.
C: 0.382 - ...