After the successful CD Leg descent after failing to retest the stucture high on the last shoulder, this Monolithic Bull Bat pattern may be a possibility. There is also confluence with an ABCD pattern on the cd leg, and RSI is starting to show some bullish divergence.
As I have mentioned before, most of the time, patterns within larger patterns fail if traded in the same direction. This smaller Bull Bat failed by a few pips, stopping out. I will be switching to Average True Range(ATR) for my stop loss placement from now on. In the meanwhile, This larger Monolithic Bull Bat has a good opportunity for you traders out there.
Crypto bubble: Consolidation. That is what it means. During these consolidating(bubble) times, advanced patterns form; increasing the chance of a successful trade set up. RSI shows that there may be some more bullish momentum and retracements before this Bear Gartley is completely filled. I take profit at structural support levels.
This is a trend continuation opportunity. If the Bullish Cypher fills, look forward to the trend continuing because structure has been broken, and has created a higher high, higher close candle in succession of XA leg and BC leg. Looking for target at C but I may continue beyond this point.
The extension of the BCLeg is a few pips over the limit but I think that this slighly invalid Bear Cypher will perform just as well as the others since crypto is highly accurate. Take profits to structural levels.
While recently taking several bullish trades on this pair, I noticed a monolithic pattern forming that may prove to be profitable if it can turn over for a bearish retracement once the Bear Cypher pattern is fully formed. Let's see what unfolds. RSI indicates overbought conditions which indicates a possible drop to structural support. I am aiming for targets there.
here is another bat out of the cave! If it completely fills, we are looking at a possible bearish drop. I am looking for a retracement to a structural target. If it does not push past resistance at the red orb, I will trade it as a Double Top.
RSI shows extremely overbought conditions. Price has also broken through support at point A and shows a lower low, lower close. As with most Cyphers, the CD leg is one final stretch until it goes in the intended direction. At market price, I am looking for a target on structural support.