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Bat

Potential Gold (XAU/USD) Bat; Is gold going down?Soooooo, you know when there's one person in the room that says something crazy.....well I'm possibly about to become that person. My previous post about the long short on the USD/JPY still shows that there is still a little bit of way for the USD to climb before the drop. So, this took me to the gold chart, and here's where we are at present. I have had this bat drawn for around 10 days, and really didn't believe that it would play out, but so far it is. This is IMPORTANT bit....this bat could easily break if closes above point C, it could also really break if it doesn't drop down to point D. To get down to point D we need the DXY to rise....and to get to that point we will need the FED to announce a rate rise. Now I'm fully aware that Wall Street is 60/40 that there will be a halt in rate rises, sending the dollar down, but, and it is a but, this chart is a possibility. If there is a rate hike then the chances are that we are heading to point D at 1866, then put your fib on the CD point and 50% is the TP1, point C is TP2. I'm not saying that any of this will definitely happen, and don't shoot the loony in the room, but it's a possibility that is on the table. Don't forget, the FED won't be worried about throwing the little guy in the street under a bus. Their job is to look after the economy.
TVC:GOLDShort
by Elite_Trading_Signals
Opportunities Abound!The Dollar Canada pair offers a chance to capitalize on a bit of consolidation after an uptrend movement. Upon examining the daily chart, there appears to be a retest of the previous resistance, indicating a favorable buying opportunity for counter-trend traders. The 4-hour chart shows a retest of the support area, which could potentially lead to a harmonic pattern on the intraday time frame, such as the 15-minute or 1-hour chart. On the weekly chart, the Dollar Canada has a fib-3 bat pattern completing at 1.2579, hitting its resistance level. For support-resistance traders, there is a candlestick confirmation over here, which could indicate an aggressive selling opportunity. However, due to the lack of other trading ideas support, this may not be an attractive option. The daily chart shows a bearish shark pattern that has already been validated and engaged in movement, hitting the support level. Structure based traders may want to look for a buying opportunity around this zone at 1.3508. The 4-hour chart has a retest of support at 1.3495, which is a zoomed-in version compared to the daily chart. On the 1-hour chart, support-resistance traders can look for a shorting opportunity on the mini buy zone over here at 1.3529 the immediate level. The 15-minute chart provides multiple trading opportunities, including a bullish bat pattern completing at 1.3506, a bearish deep gartley pattern completing at 1.3547, and a bullish butterfly pattern at 1.3478. These opportunities can be identified by those who know how to spot them. As a suggestion, a Bullish Bat Pattern completing at 1.3506 has an initial stop-loss at 1.3492 (-14pips) and a first target at 1.3516, yielding approximately +100usd/lot for +10pips. Should the market extend upwards, a Bearish Deep Gartley Pattern is looking to complete at 1.3547, with an initial stop-loss at 1.3559 (-12pips) and a first target at 1.3530, yielding approximately +170usd/lot for +17pips. Please note that this is not a trading advice, and it is recommended that you do your own analysis before making any investment decisions.
by RaynLim
AMZN: Bearish Bat with Confirmation Could Take It Down to $42.99We have officially gotten PPO Confirmation at the Bearish Bat PCZ, as a result, I am now convicted to this trade and am even willing to lower my target back down to $42.99. We have broken trend on the PPO and Confirmed an Arrow at the PCZ; a move down to $42.99 would be the completion of a Perfect AB=CD BAMM and the Bearish Bat here just may act as our Early C entry to catch the more macro CD wave to $42.99.
NASDAQ:AMZNShort
by RizeSenpai
1
LTCUSD: Ascending Broadening Wedge with a Confirmed Partial RiseWe have confirmed the partial rise of the Ascending Broadening Wedge and have failed to break above the major support/resistance level. I now expect the price of LTC to go even lower than 40 and perhaps to around $25-$19 as that would be the HOP level of the Bullish Bat it is currently BAMMing from, but it is possible we get a reaction at around $35 as that would be the 88.6% Retrace, but the most confluence is at the $25-$19 area.
BITFINEX:LTCUSDShort
by RizeSenpai
Bullish Outlook, Counter-Trend Opp.The overall outlook for USDJPY leans towards a bullish trajectory. However, this week's strategies are tailored for counter-trend traders. For position traders, keep an eye out for a potential Bearish Bat Pattern forming at 149.28. Exercise patience and await confirmation before making a move. Zooming into the 4-hour chart, an ABCD Pattern coupled with an RSI Divergence at 147.77 provides an intriguing setup. If the market doesn't exhibit a significant gap upon opening, this could shape up to be a promising strategy. 🤔 What's your play in this scenario? Share your trade plan in the comments! 🗨️💡
Short
by RaynLim
EURUSD... Bearish-BATWe have XABC, and almost D. Lets set a limit order. SL: 15 pips. TP: 15, 30, 45, 60 pips. What is the Bat harmonic pattern? The pattern is a 5-point retracement structure that was discovered in 2001 by Scott Carney. It has particular Fibonacci measurements for every point within its structure. It is necessary to note that D is not a point, but rather a zone in which price is probably going to reverse. This zone is known as the Potential Reversal Zone (PRZ). The B point retracement of the primary XA leg has to be lower than a 0.618, preferably a 0.50 or 0.382. The PRZ is made up of 3 converging harmonic levels: 0.886 retracement of the primary XA leg Extended AB=CD chart pattern, mostly 1.27 AB=CD Minimum BC projection is 1.618 Info by patternswizard Wait until 2 hours. Then, if it reaches the price, wait another 5 hours for closing. See you soon. JB.-
Short
by JBPip
Sideways Market Opportunity!🌟 Weekly Chart: - Consolidation since March 2022. - Patient trading can earn you 609 pips. - Ideal for traders looking for longer-term gains. 📊 Daily Chart: - Consolidation within the zone. - Trading within this zone brings 104 pips. - Great potential for 1-2 weeks of trading. 💡 Trading Opportunities: - Weekly chart: Bearish shark pattern in play. - Daily chart: Bearish crab pattern and more. - Four-hour chart: Butterfly pattern and gartley pattern. 💰 Profit Potential: - Weekly chart: First target 397 pips (~$3,970 USD). - Daily chart: Running profits of 158 pips (~$1,580 USD). ⚠️ Trading Strategy: - Set alerts on lower prices for early decisions. - Wait for confirmation, like double tops with RSI divergence.
by RaynLim
US Dollar Still Bullish📊 Weekly Chart: Bearish bat pattern suggests shorting at 149.33. 📈 Daily Chart: Bullish movement, no shorting opportunity. 📉 Four Hour Chart: ABCD pattern at 147.76, potential shorting level. 🕐 One Hour Chart: Bullish bat pattern with running profits. 🌟 Weekly Chart Insight: - Bearish bat pattern for potential shorting. - Waiting for confirmation at higher levels. 📊 Daily Chart: - Bearish crab pattern at 150.41. - Focus on 144.79 for buying opportunity. 💡 Trading Opportunities: - Potential short at 149.33. - Buy on retest of 144.79. 📉 Four Hour Chart: - Shorting opportunity at 147.76. - Consider retest at 144.62 for shorting. 🦇 One Hour Chart: - Running profits from bullish bat pattern. - Wait for the violation of 146.29 for resistance confirmation.
Long
by RaynLim
Market Stands Firm on Support!📊 Weekly Chart: Long shadow at support, prior resistance. 📈 Daily Chart: ABCD pattern, respecting support. 🕓 Four Hour Chart: Counter-trend trade possibility. ⏳ One Hour Chart: Bullish bat pattern, wait for confirmation. 🌟 Weekly Chart Insight: - Market stands still in buy zone. - Different from Eurodollar. 📊 Daily Chart: - ABCD pattern, support respected. - Previous trade resulted in 219 pips gain. 💡 Trading Opportunities: - Confirmation of support for a buy. - Counter-trend trade in the sell zone. 🦇 One Hour Chart: - Bullish bat pattern. - Wait for consolidation or double bottom. - Use RSI Divergence for confirmation.
Long
by RaynLim