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2 BATS?Hello traders! We are monitoring the development of a second Bat pattern developing here on the Euro Pound. We are just below a resistance area and we might see a pullback after we get our D point to complete this pattern. It's a minor downtrend so a setup like this would give us another short opportunity that may create a right shoulder as well. This is an idea and so we would wait to see confirmation before placing these orders. We are also looking at an ABCD pattern which I won't exploit in this publication. We will be monitoring price action at the potential reversal zone (PRZ). Traders should not predict the market but react from it. Trade smart, don't gamble!
Short
by PipTips
1
BTC/USD OUTLOOK GRIM? LOWER MTFA ENGLISHNOVICE SPECULATION: Well, BTC is migrating to the lower end of 8! Where will we go! On this chart, you can see multiple opportunities for high volume trading, or entries for a long term short. As this month closes, we may see a retrace to 9, but my personal opinion is we are going to continue to drop to 8.3 to <7. As always, it is hard to analyze where we go since, generally speaking, we are always combatting whales and exchanges *one in the same usually* so watch out for the weekly and daily time frames. LOGIC BEHIND SHORT: -Paper trading, so I feel no pain or regret, thus can safely make speculative paper trades on such a chart. -Bitcoin formed a double top on the 4H -Normal bouncing around, as usual. -Be careful out here...You could short and wake up to a 11k BTC. TRADE AT YOUR OWN RISK
GEMINI:BTCUSDShort
by Z3R0Matrix