Bearish Bat
Updated
I have identified a potential bearish bat harmonic pattern.
This pattern is round just under the major descending trendline.
There is structural resistance above the price as indicated by the yellow box.
I have a small minor trendline drawn on the chart, once that trend line has broken then it is a good sell indicatiors.
The RSI is overbought with the 4hr showing divergence.
This pattern is round just under the major descending trendline.
There is structural resistance above the price as indicated by the yellow box.
I have a small minor trendline drawn on the chart, once that trend line has broken then it is a good sell indicatiors.
The RSI is overbought with the 4hr showing divergence.
Note
From the 15min chart price is in a parallel channel, divergence is growing. A break out would help with the sell signal.
Plus, entering a trade with a smaller time frame can reduce the risk and increase the risk reward ratio
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