Active Trade Set up
Outperformed the Macro
Created the Bullish Bat Harmonic at the 0.886 retracement sprung and backtest of spring (type 2 return) On an old inflation point from history
Hidden bullish divergence develops at the PCZ of the harmonic where it just happens to have also created an inverse head and shoulder pattern
Type2 Bullish Bat setup along with AB=CD pattern with RSI Divergence and not just that a buy zone reversal and the candle 'check-back' isn't this fantastic.
Well, the only thing that wasn't that great is having such a high volatile black candle and head in for a countertrend trade doesn't look like the smartest move right? Perhaps is what we say about the...
This is a long term type 2 harmonic signal. our 38.2 Fib was hit and now the price is back to the pattern completion area. from here on we can likely expect the price to target the 61.8 fib retracement of the main swing. for the entry and exit criteria of the trade please refer to the main chart. you can take this trade short once the market opens.
