Now, I'm still so new to this and cant figure out whether this is trading in the trend or out the trend yikes!
This is following a successful bearish bat I just left a trade one (which is in purple)
Trading in / out trend is not my strategy tho, I'm simply trying to log which direction I do so I can see which one ...
Potentialllly developing bearish bat. With a tight PRZ of:
Stop has been set at 1.13 XA inversion
Limit has been set nearing the A leg
I THINK the trade is trading in trend.. the downtrend overall and this is a false breakout???https://www.tradingview.com/x/krk6baqw/
A bullish cypher trading in the uptrend.
Limit order has been set at the D point which is the 0.786 retracement of XAD
Stops placed just under X and limit set near the A leg.
RSI is rather oversold right now.
Currently in the trade for the bat (seen in light blue)
It has had the brief spring off the prz. I have now broken even this trade. The limit has been placed just near the B point.
Limit orders have been set in the eventuality that the bat, becomes invalid.. and validates the shark (as seen in purple)
Currently in this!
Price has started to level off and decline after reaching the 2.618 extension. Stop loss is set above the X point, near the 1.13XA inversion.
Limit has been set at the C leg.
The PRZ was the XAD 0.886 and BCD 2.618 level, as marked by the blue rectangle.
A typical bat, developing on the 4hr chart.
Due to enter at the 1.618 retracement!.
Limit has been placed near the C point close.
The PRZ is shown at the XAD 1.272 and BCD 1.618 level (in the blue rectangle. Stop has been placed just under the X point.