Bullish bat pattern setup as a counter-trend trade long waited for the pattern since 17 April 2019, finally, it is close.
Active followers would have seen this setup 3months back. That's what I do, analyse and wait.
A bullish bat setup with AB=CD pattern and on top of that an RSI Divergence on the smaller timeframe, 4-hourly chart(left) gave strong setup for a counter-trend buying opportunity.
I've already engaged the trade, it's your analysis to decide if you should engage in this counter-trend setup.
A Bullish Bat opportunity has formed on the daily chart(right) as a counter-trend trading opportunity. Is better for the candle to close above to PRZ before engaging this trade but it does affect the profit ratio.
On the left, we can see a beautiful RSI Divergence, it does comfort some of us who might have already in this trade.
Whichever it is, let's see how...
After a long wait, I see that is time to engage this trade, we have RSI Divergence a rather weak 1 but a 2nd chance entry to long on this bullish bat setup.
In addition, there is an AB=CD pattern completing in the same region.
A wide stop is required as I'm using buffer below X. The question to ask yourself:
Are you using fixed lot size or %risk exposure so each...
2 counter-trend trading opportunity, a bullish bat and an ABCD pattern.
Breakout trader can look for an aggressive selling opportunity, conservative trend trader can look for a retracement before engaging the trade.
A bullish bat pattern setting on a counter-trend trading, however on an ABCD pattern, it has a deeper completion.
Having a deeper entry means a lesser stop and in turn, it shows a better reward: risk, but on the flip side, you may miss the trade, your trading plan, your call.
I'm waiting for strong SGD and weaker USD to be in my favour for some exchange rate decision and such analysis are also extended to you. If you are waiting for a stronger SGD, wait for it to hit 1.3502 before you exchange it to USD.
Such movement if it is going to happen, it is best to happen within 6weeks.
Make the analysis all by yourself and do not overtrade....
GBP/USD is currently forming a bullish bat pattern on the 4h chart, providing a trading opportunity with a 1:2.24 risk to reward.
The measurements for a valid bat pattern are detailed below.
XA Retracement: 0.382 - 0.50
AB Retracement: 0.382 - 0.886
BC Projection: 1.618 - 2.618
XA Retracement: 0.886
All 3 measurements form within a close proximity in the...
A potential bullish flag formed up that may give a perfect opportunity to have a counter-trend trading opportunity ride to the bearish deep Gartley for a trend trading, selling opportunity on the resistance line.
If the market falls deeper, I have a bullish bat waiting to catch it, however, by then the bearish bat might be invalid.
If you don't know what I'm...
On the 4-hourly timeframe(right), have you spotted the RSI Divergence that gave a great counter-trend trading opportunity if you have missed that then is back to the support and resistance trading setup on the 1-hourly chart(left).
Classic setup but it is still the most effection setup. For trend traders who are looking for shorting opportunity, do note the big...
Potential Bullish Bat Harmonic pattern forming on the 1hr chart.
Price clusters at the 88.6 of XA are:
BC projection = 2.00
AB=CD has a 78.6 retracement with reciprocal ratio completion at 127.2 just beyond the 88.6 of XA level.
Voltas - Its within Bullish BAT Formation. Waiting for price to come into PRZ i.e. the marked zone. Will have to check Price action in PRZ to initiate longs. Looks like we might get a good long on this one