UPS Bullish Bat & Complimentary Diamond

18 Sep 2022

So recently over the course of many months. I have been following a different asset called Mercado Libre, and over there we are going through the maturity process of the whole Bullish Bat hormonic and... while eye balling this I saw potential for one to form. Keep in mind the "Grey" triangle to the right is simply a basic "Guide" of maybe more or less the prices action could go through for this to occur. We have on the weekly a Diamond that popped but soon formed another one, which is more of a Kite. I'm not saying it is in everyone's best interest for this to go down, "Unless you can short it somehow." Regardless if it goes up it will be a great continuation diamond. But if it down go down You may have basically a Year worth's of sell offs coming your way. -The bullish bat is more of a Ghost idea but the Diamond is definitely there maturing again to make a decision. I have set some transparent rectangles to show where initial price action could reach. What does not help a bullish case as well is the current state of the TTM Squeeze indicator. The histogram is like a Giant Green Rainbow finally coming to the Horizontal Middle line so watch out when putting buying positions.