A little late the party, but recent retracement offers an opportunity to jump on board
I am seeing a bearish bat pattern. Unfortunately, it didn't quite penetrate PRZ, just tickled the lower boundary of it, so I can't eliminate a possibility of another leg up into PRZ.
But I can only go by what is in front of me.
BEARISH BAT PATTERN
PRZ = 13384.1 -...
Did not spot it in time ... going to go into my study chart book for future reference... and perhaps if Market Gods will offer a retracement might consider jumping on-board ....
Beautiful trade for those who spotted it in time. Keep your eyes and ears open ...
This idea builds on previous idea, where BAT pattern was identified.
On a second pass at an idea, noticed that within BAT there was a DEEP CRAB pattern.
So posting two together here.
Price is rallying and the first port of call is possible Bat Pattern
Price has also formed a classical ascending triangle that could imply that market is bullish, but could proof to be a false break out and reversal back to down. Time will show.
PRZ: 13142.8 - 13113.1
1.618BC = 3113.1
0.886XA = 13126.8
1.618ABC = 13142.8
I thought there will be a bat pattern similar to one in DAX, but it appears that ALT BAT is a more likely possibility based on confluence of fib levels. Time will show.
PRZ = 25128.3 - 25239
1.13XA = 25128.3
2.618BC = 25234.8
2.00ABC = 25239
Watching price action closely at Gartley PRZ.
Could be a reversal.
Gartley PRZ = 1.72871 - 1.72833
0.786XA = 1.72871
1.272BC = 1.72833
But noticing that BCD leg of Gartley is forming a Crab like pattern also, gives me caution as price might trade a bit lower into Crab PRZ before reversing. Watching for LONG confirmations.
I don't have much experience or confidence trading this sort of pattern 1-2-3. So not going to be taking a trade, but wish to note it down as part of my back and forward testing of this pattern to see if it offers any edge.
Decided to publish in case if anyone out there is interested in this sort of pattern.