Here we have a bearish-bat pattern with two possible reversal zones. The second reversal zone is in the case that the bat pattern becomes an alternate-bat pattern. However, I am 95% confident that this pattern will reverse exactly at the first PRZ. Therefore, I suggest buying puts and riding them down like a rented mule to the 0.382 and 0.618 retracements. Once the PRZ has been achieved, I will measure for a new pattern to get an exact read on the retracement depth but for now this is our current situation. Good luck, trade safely, and let's make that money!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.