A Bearish Bat Pattern completes at 81.58 as a trend trading setup. The setup happens near the sell zone and it is a perfect setup for trend traders. Even with that, we shouldn't overlook the importance of candlestick pattern confirmation within the PRZ zone.
the price created a double bottom on the daily timeframe on the 0.17 as you can see on the upper chart.
on the 4 timeframe, the price is creating a bear flag after a false breakout from the flag and the rejection from 0.22 resistance.
How to approach it?
The price could have a new breakout in order to grab new liquidity from the demand zone at 0.155$ So uf the...
There's a bat pattern on USDCAD. We sell and placed it because of bearish candle confirmation. TP on the first TP of the bat pattern. There's also an alternate AB=CD in which is the 0.782 retracement with the 1.618 projection. Do you guys have other ideas or any more confirmations? Let me know on the comments.
saw a harmonic pattern forming. its either a gartley or bat, my confidence in this trade is quite low because the price didn't hit my orderblock but a choch already formed so I might as well take it since its only a low risk (0.28%) but with a high reward :))))
not a professional student please dyor.
stay safe :)))
Gold could be due for a years long correction down to A level at $1052 as that is the target of this Bearish Alt-Bat given the circumstances i wont be looking for any bullish setups on gold in the long-mid term only bearish ones.
This probably isn't a good sign for extended commodities either, the only commodities i will look for signs of bullishness in are...
USDCAD is approaching its first target TP1 1.26618 after the formation of an advance harmonics pattern bat.
The price did breakout the entry level EL 1.28172 with confirmation @1.28109
USDCAD has formed an advance harmonics pattern bat on its hourly chart.
The price is trading the entry level EL 1.28190
Patterns are only valid when the prices closes above below the entry level with a confirmed trend
USDCAD BAT BEARISH PATTERN
Bat pattern formed this week to offer up a short position on the USDCAD 4H
Entry at: 1.28176
Stop loss at: 1.29091
Target 1 at: 1.26676
Target 2 at: 1.25667
Targets will be moved to account for extension of D leg
EURUSD is on a Bearish Trend. Trend traders could wait for a Bearish Bat shorting opportunity that completes at 1.1417. Agressive traders could wait for a retest within the sell zone in the 1-hourly chart.