Gold could be due for a years long correction down to A level at $1052 as that is the target of this Bearish Alt-Bat given the circumstances i wont be looking for any bullish setups on gold in the long-mid term only bearish ones.
This probably isn't a good sign for extended commodities either, the only commodities i will look for signs of bullishness in are...
A Harmonic Pattern that is fit the criteria of a counter-trend trading setup on the CADJPY has been established.
This is not your usual Bat Pattern but a Fib3 Bat or some called it the Alt Bat which works fine with me.
I'm waiting for the candlestick confirmation to decide should I be shorting the Bearish Bat Pattern on every hour candlestick close.
ETH has made a 1.13 retracement and was rejected pretty clearly. This maybe the starts of a Partial-rise which will lead to a break of this broadening pattern and would atleast take ETH down to around $2600
The stock formed alt bat pattern on its 15 min chart, suggesting a supply zone around 337-340 levels, which was further confirmed by the price action that the supply does exist there.
I am considering New Buying either above 340 levels, or at the support levels if the stock retraces some of its previous move from 310- 336.
Strong support stands at...
Been waiting awhile for NKLA to pull back to these levels and i plan on buying NKLA between $10.7 and $7.8 as it's reached the PCZ of a Bullish Alternate Bat Pattern and seems a bit oversold on the MACD and RSI at the moment.
here on the kiwi dollar we have an alternate bat pattern. Like i said on my aussie dollar analysis i would be surprised if this pattern moved today. the dollar is not having a strong day so far but this pattern i am looking at too for going short.
Bitcoin is in a place where two harmonic formations could be forming. Bat formation with point D around $13000 and an Alternate Bat with point D at $4500. But that would mean a huge crash. Would I bet my money on this scenario? Not really, but I would be careful with buying at least until we negate those formations (that would happen after the price reaches the $41000).
A perfect alternate bat formation is seen on the monthly chart.
This situation is remarkable for gold investors.
It is seen that the first withdrawal target is 1711.14(.382) and the second is 1486.35(.618).
2074.98 point is the stop level. Reaching this point without going to the targets can be good news for investors.