We can see a series of higher lows, an ascending trendline and bullish ema cross over indicating an uptend.
The bat provides a great risk to reward ratio, and there fore you can take profits at 61.8 of the CD leg as well.
Have a good day. Thank you.
Here we can see a series LOWERHIGHS followed by two bearish patterns, BAT AND CYPHER .
The ema and channel further confirms the downtrend. I prefer the Cypher pattern since it has more confluence . However you can trade the BAT pattern since it offers a good risk-reward ratio .
Hope you have a good day. Feel free to share your thoughts....
Not a perfect cypher pattern but since it fits in perfectly in the channel and the prz lies in an important demand zone of a higher time frame we can go long on completion of the D leg.
Have a good day. :)
Price has been moving in a parallel channel from the low of 1.09964. The PRZ of the Bearish Bat lies in an area of supply, therefore the completion of this pattern will give us a good opportunity to short this pair.
However, long opportunities are also there for traders who wish trade bounces off the lower channel.
Have a good day.