Starting off the week with some technical analysis. This time on the GBPUSD 4hr. It seems a bearish bat is forming. Definitely one I will be keeping my eye on over the coming days. The market appears to be down trending. The only fault I can see as of right now which might affect the trade is the trend line I have drew in, it has multiple points of contact and...
Hey guys, tonight is NFP. A potential bullish bat pattern is spotted, PRZ at a good support level. Good to short to PRZ if Manufacturing Production news is worse than the previous result. R:R at 1.2 (TP1) and 2.1 (TP2). Good luck.
Last uptade today since i tried to work more consistently on this chart to recognize possible patterns.
Advanced BAT pattern with traditional target 1 at .382 retracement. Target 2 will be the .618.
A potential bat pattern is completing, RSI on its way to overbought level. PRZ is at a good resistance level. R:R at 1.5 (TP1) and 2.6 (TP2). Good luck.
Back at it again with more technical analysis. This time what I believe to be a bearish bat forming on the USDCHF 4hr. Gonna be keeping my eye on this one to see how it plays out.
Point B is between 0.382 - 0.618 of XA Point C nearly reached 0.886 Entry at point D i.e. 0.886 fibo retracement Trade plan: Stop loss above resistance TP between 0.382 - 0.618 when Stoch RSI has reached oversold, or hold till price touches 0.618 for a nice 1:3 risk-to-reward ratio
Hello traders! As the title says, looking over this chart and seeing what could be another Bearish Bat opportunity on this pair. IMO if we break and close above the 1.2355 level then this has a greater chance of completing... BUT, nothing is ever certain, will just have to wait and see! Looking left, there is an area of resistance around the 1.25 level it is one...
The bearish bat pattern has completed with all criteria met. RSI did hit overbought level and is coming down, pattern completed with price in PRZ. R:R at 1.69 (TP1) and 2.89 (TP2). Not too enthusiastic about TP2 due to ongoing Brexit issues. Good luck.
just an idea for now, will let it develop and follow later.
BITFINEX:BTCUSD A bearish Bat in formation with precise B point tracing at 0.5 level, BCleg in formation a shorting oppertunity upto 0.618 retracement Then the CDleg has a bullish projection towards the prz... Prz will be redefined by the BC projection, if goes below 0.618 tracing...
Just a quick one. This is my second attempt at recognising a harmonic pattern in the market. This is also my first attempt at finding a potential trading opportunity which I believe is a bearish bat. Meaning I could potentially pull the trigger on this trade giving price hits my D point.
Bat Pattern Forming On Gold 1hr. Waiting for confirmation
A bearish bat pattern might be forming soon, RSI about to reach overbought level. PRZ is at a good resistance level. R:R at 1.5 (TP1) and 2.6 (TP2). Good luck.
Ignoring the volatility of that dip you see a nice descending corrective wave triangle (Top declining, bottom flat) with many consistent touches. Now that most are calling another bottom in fear I think ETH is actually preparing for that breakout of this descending triangle. We'll see. GL