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GBPUSD bearish bat formOn the daily chart, GBPUSD is currently fluctuating at a high level. In the short term, we can pay attention to the resistance near 1.2827. This position is the entry point of the bat pattern D point. In addition, this position is in the previous supply area. Investors can pay attention to the SELL opportunity at this position. The first downside target of GBPUSD is around 1.2681, and the second target is around 1.2592. If GBPUSD breaks through 1.2894, the bat pattern will fail.
Short
by XTrendSpeed
3
Microsoft: Bat Pattern Retracement and MoreFundamentals: Microsoft has had a good three-year growth record, but its group is weak, which can drag the stock. Sales have been accelerating recently and earnings meet my criteria. It has good sponsorship. Earnings stability is very healthy. Earnings is out in seven days. Technicals: Bat Pattern Retracement 2023 diagonal trendline Clear higher highs and higher lows Backside of a downward tl potential test 76% fib level confluence with all above Price is testing the cloud extreme indicators exDiv1 Comment: I would wait for a green day, but I am already in at the current price. Trend Target is 460, 550 and 730 by December 2024 (8 months from now).
NASDAQ:MSFTLong
by Rocketman
VXRT Potential Breakout/Trend Reversal?Vaxart's previous run after COVID ended with a .30c gap down on the daily early June 2023, even so, once reaching previous low it ran up again. It has also shown much more promising earnings since the gap down. They have also ditched the Covid program to focus on norovirus and prolong cash runway into Q4. There is a WHO summit at the end of this month with billions of funding on the line, VXRT will likely be the recipient of a portion of that funding for their Norovirus Vaccine. Today, 5/21 in after hours on the intraday there was a gap-up to .95. You will not see this on a Regular hour chart, or daily. 5/23 I anticipate VXRT to run back up to over $1 in the pre-market, completing the gap-fill. From there, it may begin a run back up towards $2 or $3, or it may pull back into the .9-.95 range first; but either way I personally think VXRT is experiencing a trend reversal and may not return to under $1 again. Also the XABCD pattern before the gap up is a bullish bat, and many technical indicators like moving average and RSI suggest a move up. I'm new to trading, and may be wrong, so please do your own analysis. If you are experienced, please let me know what you think of my analysis so I can improve.
NASDAQ:VXRTLong
by Jaytradn
2
GBPUSD Potential Bearish Bat PatternFrom the daily chart, GBPUSD has stabilized and rebounded recently, and the short-term market is expected to continue to rise. At present, you can pay attention to the vicinity of 1.2826 above. This position is the short position of point D of the potential bat pattern. At the same time, this position is within the early supply zone. If the market shows a stagflation signal at this position, you can consider shorting at 1.2826. The downside target is around 1.2680, and the lower target is around 1.2590. If the price breaks through the 1.2900 mark, it will continue to rise.
Short
by XTrendSpeed
Understanding Bearish and Bullish Bat Harmonic Patterns Understanding Bearish and Bullish Bat Harmonic Patterns: A Professional Guide for Traders In the dynamic world of trading, identifying potential reversal points is crucial for making informed decisions. Two powerful tools that professional traders often rely on are the Bearish and Bullish Bat Harmonic Patterns. These patterns, grounded in Fibonacci ratios, offer insights into market behavior and help in predicting price movements. This article delves into the intricacies of these patterns, providing a comprehensive guide for traders. __________________The Bearish Bat Harmonic Pattern_________________________ The Bearish Bat Harmonic Pattern is a reversal pattern that indicates a potential decline in price after an upward correction. Here's how to identify and interpret this pattern: X-A Leg: The initial move where the price falls from point X to point A. A-B Leg: The price then retraces upwards from point A to point B, typically reaching 38.2% to 50% of the X-A leg. B-C Leg: The price falls again from point B to point C, retracing 38.2% to 88.6% of the A-B leg. C-D Leg: The final leg sees the price rise from point C to point D. Point D is the critical point, expected at the 88.6% retracement level of the X-A leg and coinciding with the 161.8% extension of the B-C leg. Key Fibonacci Ratios: A-B: 38.2% to 50% retracement of X-A B-C: 38.2% to 88.6% retracement of A-B C-D: 88.6% retracement of X-A and 161.8% extension of B-C Trading Strategy: Traders should look for selling opportunities around point D, anticipating a downward move following the completion of the pattern. Entry, Stop-Loss (SL), and Take-Profit (TP) Criteria: Entry: Enter a short position at or near point D. Stop-Loss (SL): Place the stop-loss slightly above point X to account for any potential false breakouts. Take-Profit (TP): Set the first TP at the 61.8% retracement of the C-D leg and the second TP at the 100% retracement of the C-D leg. _________________________The Bullish Bat Harmonic Pattern_____________________ Conversely, the Bullish Bat Harmonic Pattern signals a potential rise in price after a downward correction. Here are the steps to identify and utilize this pattern: X-A Leg: The initial move where the price rises from point X to point A. A-B Leg: The price then retraces downwards from point A to point B, typically reaching 38.2% to 50% of the X-A leg. B-C Leg: The price rises again from point B to point C, retracing 38.2% to 88.6% of the A-B leg. C-D Leg: The final leg sees the price fall from point C to point D. Point D is the critical point, expected at the 88.6% retracement level of the X-A leg and coinciding with the 161.8% extension of the B-C leg. Key Fibonacci Ratios: A-B: 38.2% to 50% retracement of X-A B-C: 38.2% to 88.6% retracement of A-B C-D: 88.6% retracement of X-A and 161.8% extension of B-C Trading Strategy: Traders should look for buying opportunities around point D, anticipating an upward move following the completion of the pattern. Entry, Stop-Loss (SL), and Take-Profit (TP) Criteria: Entry: Enter a long position at or near point D. Stop-Loss (SL): Place the stop-loss slightly below point X to account for any potential false breakouts. Take-Profit (TP): Set the first TP at the 61.8% retracement of the C-D leg and the second TP at the 100% retracement of the C-D leg. ______________________Practical Application and Tips_______________________ To effectively utilize these patterns, traders should: Use Confirmation Indicators: Always combine harmonic patterns with other technical indicators, such as RSI or MACD, to confirm potential reversal points. Practice Patience: Wait for the pattern to fully develop and reach point D before taking action. Risk Management: Implement strict risk management strategies, including stop-loss orders, to protect against potential false signals. Conclusion: The Bearish and Bullish Bat Harmonic Patterns are powerful tools in a trader's arsenal, providing a structured approach to identifying potential market reversals. By understanding and applying these patterns, traders can enhance their decision-making process and improve their trading performance. Remember, like all technical analysis tools, these patterns are most effective when used in conjunction with other indicators and sound risk management practices. Happy trading!
Editors' picks
BINANCE:ADAUSDEducation
by trading_jupiter
9
AUDUSD Long Opportunity: Leveraging Bullish Patterns for StrateHello, fellow traders! AUDUSD presents an enticing opportunity for long positions, backed by the confirmation of a Bullish Fib-3 Bat Pattern on the 4-hour chart and a Bullish Wedge Breakout on the 1-hour chart. Let's explore three effective ways to engage this trade: 1. Retest on Support Line at 0.6613 (1-Hour Chart) - Strategy : Wait for a retest of the support line at 0.6613 on the 1-hour chart and enter a long position upon confirmation of support. - Rationale : This support level offers a favorable risk-reward setup, providing a low-risk entry point for bullish trades. 2. Retest of the 1st Trend Line (1-Hour Chart) - Strategy : Look for a retest of the first trend line on the 1-hour chart and initiate a long position if the price bounces off this trend line. - Rationale : A successful retest of the trend line validates the bullish momentum, offering an opportunity to enter the trade with confidence. 3. Retest of the Fib-3 Bat Pattern at 0.6600 (4-Hour Chart) - Strategy : Enter a long position at the 0.6600 level, which corresponds to the Fib-3 Bat pattern and serves as a significant price-action level. - Rationale : The confluence of the Fib-3 Bat pattern and the key price-action level enhances the reliability of this entry point. Risk Management - Set appropriate stop-loss levels for each entry strategy to manage risk effectively. - Consider position sizing based on your risk tolerance and overall trading strategy. - Monitor the trade closely and adjust your strategy if market conditions change. Final Thoughts With a Bullish Fib-3 Bat Pattern and a Bullish Wedge Breakout in play, AUDUSD offers multiple opportunities for long positions. By strategically entering the trade using any of the outlined methods, traders can capitalize on the bullish momentum with confidence. Happy trading, and may the markets be in your favour!
Long
by RaynLim
USDJPY Short Opportunity: Key Factors and Strategic EntryHello, traders! I’m on standby to short the USDJPY, and here's why this setup is compelling. This analysis covers two crucial parts, providing context and strategic entry points. Part One: Macro Fundamentals 1. China’s Treasury Offload : - China sold $53.3 billion of Treasuries and agency bonds in Q1 2024. This reduction in US dollar assets can impact USDJPY negatively. 2. BRICS Currency Moves : - BRICS countries are trading $4 billion in local currencies, sidelining the US dollar. This shift decreases demand for USD, potentially weakening USDJPY. Part Two: BOJ Interventions 1. Recent BOJ Action : - The Bank of Japan intervened in the FX market on April 29, 2024, but the attempt seemed to fail. Our community was alerted on April 26, 2024, giving us an early advantage. 2. Potential Future Intervention : - BOJ might intervene again, but this could upset G7 partners. If intervention fails or doesn’t happen, USDJPY could fall sharply. Trading Strategy: Bearish Patterns Confluence Key Levels and Patterns: - Entry Point : Short USDJPY at 159.27. - Confluence : This level aligns with a Bearish Bat Pattern and an ABCD Pattern, strengthening the case for a short position. Final Thoughts Considering the macro fundamentals and recent BOJ actions, the stage is set for a potential sharp fall in USDJPY. The bearish patterns at 159.27 provide a technical basis for entry, adding to the conviction. Stay vigilant and manage risk carefully. Happy trading!
Short
by RaynLim
SPX Showing Signs of Weakness at PCZ of a Bearish Alternate BatThe RSI on the daily has begun to rollover as the SPX appears to have rejected off of the Bearish Alternate Bat HOP level. There does not appear to be much nearby support within the range the SPX is currently trading in so if it gets back below the previous All-Time High I could see it coming back down to around $5100 maybe even $5000 - $4800. This all seems to be brought on by the increase in JGB Yields disrupting the Carry Trade. We may see them try to stabilize the carry trade around $5100 but there is a heightened chance of failure. More on the carry trade can be seen in the related idea below.
OANDA:SPX500USDShort
by RizeSenpai
GLD: Bearish Alternate Bat HOP Level Reached: Reversal LikelyThe yields within the bond market are hinting towards a reversal in Gold and potentially other metals today, however, Gold right now is sitting at the HOP level of a Bearish Alt-Bat. If GLD were to reverse here, we would see it as a type 2 return which could result in Bearish price-Action beyond just the intra week but extended to the entire macro trend as a whole. I will be playing this via multiple OTM /GC Bear Put Vertical Spreads on the monthlies and may potentially start playing cheaper bearish plays on a week by week basis.
AMEX:GLDShort
by RizeSenpai
AUDCHF: BULLISH BAT SPOTTEDHello Traders, Trust trading has been great for you all. Here is my brief analysis of the AUDCHF pair. The AUDCHF pair shows a bullish bat pattern, indicating a potential upward reversal. This pattern was spotted in February and has been responsible for the upward rally noticed on the pair since the first week of February. There appears to be more room to the upside on the pair. Key points : X: 0.53416, A: 0.72599, B: 0.64114, C: 0.69243, D: 0.56181. My Expectation : Price to rise from 0.59072 to around 0.68 in the coming weeks/months. Invalidation : If price exceed the 0.54662 to the downside, this idea becomes invalidated. Traders should watch price action closely and put in proper risk management. Cheers and happy trading!
Long
by Samuel124
GOLD IS CURRENTLY INDECISIVEThe golden market seems to have been making higher lows on its way up, so we might expect another retest on our previous minor resistance resulting in another HL before price pushes higher to break the main resistance. But also keep in mind that price formed a bearish harmonic pattern which may cause the bullish structure to fail when reaching the main resistance, but the best thing to do is to wait for price to display proper confirmation on which direction it will take...
TVC:GOLD
by Mlando17
EUR/CHF - Bearish Bat Harmonic Pattern Signals Bearish TrendThe EUR/CHF currency pair is currently exhibiting a Bearish Bat Harmonic Pattern (XABCD) on the 4-hour chart. Point D, identified as the Potential Reversal Zone (PRZ), aligns with a critical Key Resistance area and intersects with a significant 4-hour Trend Line. This confluence of factors strengthens our bearish bias and suggests a potential bullish trend reversal from Point D. Bearish Bat Harmonic Pattern: The Bearish Bat Harmonic Pattern is a reliable technical indicator that signals potential reversal points in the market. In this case, the pattern's completion at Point D indicates a high probability of a trend reversal from bearish to bullish. This is supported by the alignment of Point D with a Key Resistance area and a 4-hour Trend Line, providing additional validation for this setup. Confluence Factors: Key Resistance Area: Point D coincides with a significant resistance level that has historically impeded upward price movement. 4-hour Trend Line: The intersection of Point D with the 4-hour Trend Line further confirms the likelihood of a bearish-to-bullish reversal. Trade Setup: Entry Point: 0.98030 Stop Loss: 0.98400 Take Profit Levels TP-1: 0.97655 TP-2: 0.97280 TP-3: 0.96900 Conclusion: The confluence of the Bearish Bat Harmonic Pattern, Key Resistance area, and 4-hour Trend Line suggests a high probability of a bullish trend reversal from Point D. Traders should consider entering at 0.98030, with a stop loss at 0.98400, and aim for the specified take profit levels. This setup offers a strategic opportunity to capitalize on the anticipated market reversal.
Short
by trading_jupiter