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GBPUSD-Weekly Market Analysis-Oct22,Wk1Last Friday, I shared this analysis in Tradingview; the comment I received is lovely yet scary. The reader felt that the Bat Pattern had completed and seemed like he had engaged in the trade. Oh nooo!! First of all, no matter who the analyst was, never follow their trading ideas blindly. Secondly, for the Bearish Bat Pattern to be valid, the market has to touch the furthest end of the PRZ; in this example, it's at 1.1251 and touches the opposite end of the PRZ for it to be valid. Engaged in advance of the pattern completion can risk riding on an invalid setup or put yourself at a major disadvantage when you enter too early. Some of the obvious disadvantages is a lopsided Reward is to Risk; you risk more and earn lesser than other traders who engaged in the same trade. While others can shift their stop-loss to entry, you could only reduce your risk. With that said, in this bearish setup, my analysis remains unchanged.
Short
by RaynLim
TECH MAHINDRA Wiiting for BreakoutThe idea here is about TECH MAHINDRA Mentioned below are the points to be considered Points as per TA on a Weekly Chart: 1. Bat Pattern Completed on a weekly chart. 2. Waiting for Breakout of Falling Wedge or Downtrend Pattern . 3. Resistance on 20 EMA tested on weekly chart. 4. MACD Crossed over Signal on weekly chart on 8th Aug 2022. 5. RSI is at 42.89 on a weekly Chart. 6. Keep in mind CNXIT to break the resistance @ 30475 to 30560. 7. Current market under consolidation. Some Add on Info : Equities saw 17 Number of large deals on 19th Aug 2022, and also Company Acquired its 2 South African Joint ventures. Targets : Estimates based on Bat pattern provided on the chart for reference. Disclaimer: “The above is an idea only and not any kind of financial advice so please do your own DD (Due Diligence) before any kind of investment”. Do you like my TA & ideas!! Want to keep yourself updated with current market action, then please follow my profile for more analysis. Cheers.
NSE:TECHMLong
by Tron029
Bat Harmonic Pattern - Made Easy For EveryoneThe BAT pattern gets its name from the bat-shaped end product. Identified by Scott Carney in 2001, the BAT pattern is made up of precise elements that identify PRZs. The bat harmonic pattern follows different Fibonacci ratios. One of the major ways to differentiate it from a Cypher pattern is the B point which, if it doesn’t go above the 50 percent Fibonacci retracement of the XA leg then it is a bat, otherwise it can turn into a cypher structure. The market strategy of the pattern is suitable for all time frames and all markets types. Traders have to keep in mind that on lower time frames using the bat pattern market strategy has some challenges because the pattern tends to appear on less frequent on lower time frames. How to Draw a Bat Pattern : As mentioned earlier, the bat harmonic pattern looks very similar to the Gartley pattern. It has four different legs marked as X-A, A-B, B-C, and C-D. X-A: In its bullish version, the first leg appears when the price sharply increases from point X to point A. This is the longest leg of the pattern. A-B: The A-B leg then sees the price switching direction and retracing 38.2 to 50 percent using the Fibonacci retracement of the distance covered by the X-A leg. Have it in mind that the A-B leg can never retrace beyond point X. But if it does, the pattern is considered invalid. As you can see, if the price with a spike reaches a point under 50% but with the body above, this will be Valid. The candle Body's important. B-C: Here, the price changes direction for a second time and moves back up, retracing anything from 38.2 to 88.6 percent of the distance covered by the A-B leg. If it retraces up above the high of point A, the pattern is considered invalid.As you can see, if the price with a spike reaches a point above 88.6% but with the body is below, this will be Valid. The candle Body's important. C-D: This is the last and most significant aspect of the pattern. As with the Gartley pattern, this is where the bat harmonic pattern ends and traders place their long (buy) trade at point D. ( PRZ Potential Reversal Zone ) The 88.6% percent retracement of the X-A leg is our Entry Point. D POINT or PRZ Before trying and trading the pattern, confirm from this checklist that the pattern is real. It should include these vital elements: A-B : 38.2 to 50% max percent using the Fibonacci retracement B-C : An 38.2 to 88.6% max percent Fibonacci retracement of the X-A leg C-D : The 88.6% percent retracement of the X-A Market strategy: Step 1: Drawing the pattern Begin by clicking on the XABCD pattern indicator that is found on the right-hand side toolbar of Tradingview Identify the beginning point X, which can be any swing high or low point on the chart. You should get 4 points or 4 swings high/low points that join and form the harmonic bat pattern strategy as explained Above Step 2: Trading the pattern The 88.6 percent Fibonacci ratio provides traders a more reliable risk/reward ratio which is why the market strategy of the bat pattern is such a very popular as a market strategy. The best entry point is the 88.6 percent Fibonacci retracement which is a very accurate market turning point. It is recommended that traders should enter as soon as they touch the 88.6 percent figure. Oftentimes the harmonic bat pattern strategy doesn’t go much above this level. Step 3: Placing a stop-loss Usually, traders should place their protective stop-loss lower than the point X of a harmonic bat pattern. That is the only logical location to hide the stop-loss because any break below will automatically invalidate the pattern.We use as manual the 113% Fibo of X-A as a picture below. Step 4: Take-profits There can be several ways to manage your trades, but the best target for this pattern should be to use a multiple-take profit formula. For this pattern strategy, take the first partial profit once you hit wave-B level and the remaining half wave-C. Once the price reaches the first target you should move the Stop Loss at BE ( breakeven - entry point ) or close the position in profit. By doing this you will accomplish two things: first, you’ll ensure that you accumulate profits and secondly, if the markets reverse, you ensure you’re stopped at BE and don’t lose any money. There are many ways to calculate the Take profits Target, this is one of the most used and we suggest starting in this way. Identical rules to draw and set parameters like stop loss and take profits are for the Bearish version. Nothing changed. Please note this is an introduction to the BAT pattern, for beginners. I tried to make it more easy and simple as I can.
BITSTAMP:BTCUSDEducation
by FOREXN1
20
Reef token formed bullish BAT for upto 22% pumpHi dear friends, hope you are well and welcome to the new trade setup of Reef token with Bitcoin pair. Previously in the month of Jun, I shared a long-term trade setup for a huge move of Reef, which is still in play as below: Now on a 4-hr time frame, REEF has completed a bullish BAT pattern. There is also a hidden bullish divergence as the priceline is forming a higher low and the RSI is setting a lower low. Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Long
by moon333
Basic Attention TokenProbably one of the most underrated coins on the market. If you aren't following it you need to follow my updates going forward. Crypto has taken a huge hit and I expect that if it doesn't turn around this week then we will have some better buying opportunities in the future. This trend line break poses a possible long opening up with some other levels to add on to the position. BAT is one of the only coins with an actual use case so don't sleep on it. when the market gets in to a bull run we will find out selves at .70 cent making this an easy 3x opportunity and even more so on leverage. Happy trading! stay tuned for me. Thanks for the support family!
BINANCE:BATUSDLong
by LiveTradingHouse
Possible GJ BullBatHey guys still working on perfecting my craft. Think I spotted a bullish bat on GJ daily. Plan on shorting this week to the D point especially if I get a break of B. Bat Details: X @ 155.623 A @ 168.728 B @ 162.169 C @ 167.555 D @ 157.117 I like to use QP so I'm most likely shorting til 157.250 if I do end up taking the trade. Please, please I love feedback I'm open to learning from my mistakes if you have any criticism or critiques by all means comment.
Short
by PippyLongStackings
RIF forming bullish BAT | A good buying opportunityHi friends, hope you are well and welcome to the new trade setup of RSK Infrastructure Framework (RIF) with US Dollar pair. In the previous trade, after a slight move up and hitting the sell target zone, the price dropped down. Now on a 4- hour time frame chart, RIF is completing a final leg of the bullish BAT pattern, and after a slight more drop it will be entered the potential reversal zone. Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Long
by moon333
1
BitShares (BTS) forming bullish BAT for upto 60.50Hi dear friends, hope you are well and welcome to the new trade setup of BitShares ( BTS ) coin with US Dollar pair. Previously we had a pump of BTS: Now on a 4-hour time frame chart, bts is completing a final leg of the bullish BAT pattern, and after a slight more drop it will be entered the potential reversal zone. Please before opening the trade, make sure that the trade is still valid or not by clicking the play button on the chart. In order to play and watch the current performance of the chart, you need at least a free account on tradingview. If you don't have then you can create one using the below link: www.tradingview.com I am posting the trades of most of the assets available on Bitget, Binance, and on KuCoin. If you don't have accounts there, then you can create using my below referral links. Link for Bitget exchange, they are also offering nice bonuses: partner.bitget.com Binance: www.binance.com KuCoin: www.kucoin.com There can be a probability that sometimes up to 4 out of 10 trades can be unsuccessful, therefore, It is advised to diversify, I personally open atleast 5 to 10 or sometimes more trades at a time, and strictly follow the stop loss, and don't get stuck with a trade. Best of Luck. Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
BLong
by moon333