Potential Bullish Bat completing on AUDJPY 1hr. Will be watching how price reacts around the 88.6 level of XA for a reversal.
88.6 XA Confluence Projections: BC = 2.618
AB=CD completion = 1.618
Hello friends!
A quick update to put to rest this nonsense about a head and shoulders!
Personally, I don't believe in chart patterns UNLESS THEY ARE BASED IN FIB
I noticed this pattern beginning to build on Bitcoin a few days ago, and sure enough, it does indeed meet the requirements for a Bullish Harmonic Bat,
THIS, is a pattern that successfully predicted...
A type 2 Bat has formed up, so what is a type 2 bat, it simply means a retest of the entry level of the bat pattern.
Although if the Bat has hit the 1st target during the setup and it is also a counter-trend move, it is not my favourite bat setup for a retest as some traders might have already exited this trade (losing the force to push it up) . In this...
Finding opportunity to short at PRZ region. Will also wait to see confirmation of price weaknesses.
EP: 0.89664
1st PT: 0.89123
2nd PT: 0.88662
SL: 0.90088
GBPUSD is showing a downtrend movement on the daily chart.
On the 4-hourly chart, the market does show a possible potential head and shoulders. I will definitely need to wait for the candle to touch the read shoulder before I can engage.
On the smaller timeframe, you can see the blue bullish bat pattern. I have already engaged this, thought market move back to...
This pair has completed a bat pattern on the 4 hr chart which signaled us to buy and average down our position at bottom of the 4th leg. Our take profits are set at the green zones. FX:EURAUD
On this pair we also see the completion of the bat pattern on the 4 hr chart which signaled us to buy the pair at the completion of the 4th leg of the pattern. Our take profits are set at the green zones. FX:EURNZD
We see the completion of the bat pattern on the 1 hour chart. This completion of this harmonic pattern is a bullish signal. We currently have open long positions on this pair that are in loss, and one of these positions has a stop loss point at 1.6490. We are predicting a correction is expected from this zone and the position will not hit the stop at market...
Another clean setup on the USDCAD pair. This time we have the Bearish Bat Pattern completing at 1.3318 price level, which I am interested to add on to my existing long term position short.
Entry price: 1.3318
SL: 30pips above Point X
TP1 and TP2 as shown on chart
Extended targets at the completion of the Bullish Bat Pattern.
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EURNZD - On this pair we also see the completion of the bat pattern on the 1 hr chart which signaled us to sell the pair at the start of the 4th leg of the pattern. The position also moved as predicted and hit our take profit at the green zone. FX:EURJPY
