Humana Breaking Below Support, Targeting Drop to $215.17Humana has broken the BAMM trigger line of a Harmonic Crab pattern and is now breaking below the $387-$375 support zone.
Harmonically, we would expect to see an accelerated move down to the 1.618 PCZ aligning with the $215 price level and it could even go as low as the HOP at $152. For the time being, I will be getting very wide Bear Call Spreads with the intent on at least capturing the move down to $300.
Bearishbamm
BX: Evening Star Doji into Bearish BAMM Visible On the MonthlyBlackstone is about to confirm a Bearish Evening Star Doji on the Monthly Timeframe today and is about to break down from its RSI Channel. This could then escalate into a Bearish BAMM on the Macro that would take it all the way down to the 0.886 Retrace around $30.00
BlackRock, Potential Bearish BAMM Targeting $161.70BlackRock has some Hidden Bearish Divergence across a few notable time frames and is below many of the major Moving Averages after Bearishly Pivoting at a 618 Retrace, if we can continue down from here we will eventually break below the B Point and go for a Full Bearish BAMM break down to the 0.886 Retrace at $161.72
Ethereum Confirming the Bearish Breakdown to $168.81Last week i posted about this Potential BAMM and Bear Flag Breakdown on ETH that would take us to the 1.618 Fibonacci Extension if real and now this week it looks like we are confirming the BAMM Trigger Line as Resistance as the Hidden Bearish Divergence Continues on the MACD. We have a Bearish Engulfing on the Monthly and just recently closed the Weekly below the POC as well as triggered tthe CAI. I think this gives great reason to believe that ETH will be coming down to lose 88% of it's value meanwhile other coins like XMR, XRP, and LTC will significantly gain in ETH Value.
Potential Bearish BAMM On The USDT Dominance B Point AdjustmentThis is an update to a previous Pottential Shark BAMM Projection i had on the USDT Dominance.
It's been several months since posting and in that time the Shark Situation is still somewhat valid as a new high has not been made but i think it looks a bit ugly now. So based off the price action we've gotten recently i will be raising our Potential B point, thereby making this a Potential Bat rather Than a Potential Shark; The .886 Retrace Remains the Target if the B point breaks down.
Additionally we seem to be forming an accelerated Trendline which if we break that it would basically act as a Validation line to a Bearish Dragon.
We also seem to be trading within a Macro Ascending Broadening Channel on the Linear scale that we've Broken above but come back within at the highs.
Lastly the USDT Dominance is trading within a much larger Equidistant Channel on the Log scale Chart that can be seen below and i expect that it is setting up for a 50% Retrace overall:
ARKK Entering Bearish BAMM (50% Potential Downside) ARKK has broken through he B point of this potential Bullish Bat and has tested it as Resistance we look to be ready to complete the CD wave to the downside and reach an 88.6% Retracement.
I suggest some Near or ITM PUTs expiring around several weeks from now.
EUR/AUD - Bearish BAMMEUR/AUD is almost ready to go! Bearish BAMM setup has formed on the 4h chart, providing a trading opportunity with a 1:2.33 risk to reward.
BAMM trading setups rely on a valid bat pattern, you'll find the relevant measurements below.
XA Retracement: 0.382 - 0.50
AB Retracement: 0.382 - 0.886
BC Projection: 1.618 - 2.618
XA Retracement: 0.886
The time proportions of this setup are absolutely spot on so far, we'll revisit this in a few days.
Currently waiting for a break and close below 1.63100.
GBP/NZD Bearish BammHi guys, I have entered this bearish bamm formation on the GBPNZD. The Bat Action Magnet Method (BAMM) is triggered when the C-D wave of a potential bat pattern has broken the support/resistance of the B point.
Price has broken the support at the B point and since re-tested this area as resistance. As most traders will know, support and resistance acts as a magnet, pulling price towards key levels. As harmonic patterns are in themselves price action formations built around key levels in the market, this approach normally works very well!
The next level of support is actually a key level on the daily and weekly timeframes. I like to wait for a re-test of the resistance before entering, which has already took place, and I'm also looking at the symmetrical triangle that is forming on the 30 minute chart. I have already entered, however if you feel you need further confirmation, feel free to follow this also (see below).
Bat Ratios
B = 0.382-0.5
C = 0.382-0.886
D = 1.618-2.618
X to D = 0.886
Risk to reward is 1:3 as I feel this gives us a good average return whilst keeping a healthy stop loss for any volatility that may occur.
I will re-assess the bat bat pattern as a whole once price has reached the PRZ.
Again, I am in this trade at the moment so feel free to enter, or wait for the break of the triangle.
Good luck everyone!
USOIL - Bearish BAMM, Bullish Bat and Market StructureToday I've brining you all an in-depth view on USOIL, firstly I'll break down the base of my analysis on the 1h chart which shows two setups, bearish bamm and bullish bat.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
I understand the BAMM theory will be relatively new to most traders, this style of trading simply focuses on a breakout of the B point.
Upon a break and close below/above B, in this situation below, I look to capitalise on the move towards D which confirms the potential reversal zone of the bullish bat pattern.
We can see there has been various tests of this level.
Taking a look at the daily chart below we can see a clear demand zone between roughly $55 and $54 which aligns with the support trendline.
I'll be looking for a sell off to drive prices towards this area, from there I can further analyse the bullish bat for a long opportunity if this level of support holds.
Although, I do expect price to drop lower than D to the demand zone at X.
If you have any analysis to contribute feel free to leave it below :)
GBP/USD - Bearish BAMMWow this is huge! Today we have GBP/USD on the 1h chart with a bearish BAMM (Bat Action Magnet Move) setup.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
This looks good to short from the current level with a stop loss set above previous resistance.
Green area displays the profit zone.
I understand the BAMM theory will be relatively new to most traders, this style of trading simply focuses on a breakout of the B point.
Feel free to connect with me on social media below :)