The key characteristics used to identify the Harmonic Bat pattern are as follows:
AB leg can retrace between 38.2% – 50% of XA leg
BC leg can retrace between 38.2% – 88.6% of AB leg
CD leg can retrace up to 88.6% of XA leg
CD leg can also be an extension of between 1.618% – 2.618% of AB leg
The Harmonic Bat is a variation to the Gartley pattern which was...
An ascending wedge has been forming since 2016, and gradually has been building up volatility as more market participants get involved.
Price is very extended here, which signals for a pullback if not a strong downtrend into the lower bound of the wedge.
However, I could be totally wrong and the price could shoot up strongly for a continuation.
Let's see how it...
You know the drill, stock at resistance, if it closes above resistance dont short if it closes below resistance short. set a stop loss close to the resistance incase this guy pokes its head out before heading back down.