Potential Bullish Bat
Updated
This is not a trade set up for right now, but if OLN starts to fail, we could see it fall out of its current symmetric triangle for a false breakout downward which would complete a bullish bat harmonic pattern for another bounce up.
Trade closed: stop reached
While this particular harmonic failed, and the August 21st candle stopped us out, the idea of a false breakout of the triangle that then climbed back up into it did indeed play out, and the price action continued unpward to great heights. It's unfortunate that our harmonic and risk to reward ratio did not play along.
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