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Bearish Bat

BAT Fighting for turning the tablesWe see here BAT in a bearish momentum since weeks, but here it broke the Divergence line from previous ATH and rocketed with good volume, this maybe be the change of a trend. 3 possible views: PATH 1: The more optimisstic one. We got good volume and the price is holding well. It touched the 1st fibonnaci level but for now, if keeps this way, will face the strong resistance level above in short time. Hard to break it, but if does, will skyrocket. My chances are 20% PATH 2: The bullish trend. The chart will bounce to 2nd resistance level and maybe we see the break of the trendline, but I think will hold it and will keep rising price as the days pass. But the resistance zone is hard, but if mantains will hold the price with the upper trendline or will create another, but close to the resistance zone . Chances 35%. PATH 3: The bearish trend. This is the logical one. Yes, the divergence broke but the below trendline (resistance below) and the upper channel stays in a downline trend. It will touch the resistance above, but will fall to atleast 3rd zone of fibonnaci. Chances of 55% Im not optimistic with BAT, but we need to be realistics. Comes from a long bearish momentum that it doesnt seem to stop, we maybe see some light if PATH 1 appear but the general market is going downwards. Thank you.
by caramelitoCT
1
AUDUSD - Bearish SharkHave you shorted this wonderful setup? The beauty and challenge of this trade is that it has a Bat Pattern within the Shark Pattern. The good thing is that it completes at the same point and the bad thing is that by the rule of it, the bearish bat pattern has a stronger influence over the bearish shark pattern. Either way, I'd shifted stops to entry and observe closely how the market react at the 1st target. And also, on the daily chart, it has a head and shoulders formation, although it didn't fit our criteria to short it does give additional points to the entire setup.
Short
by RaynLim
Bearish BatBearish bat formed after hitting the daily R1 pivot resistance point. I would expect a drop down to the daily S1 pivot support point (also the new weekly pivot point - convergence of these points offers strong support here) or even farther to the back to the new weekly S1 or monthly pivot. Support can be found at the daily S2 and S3. Let's see how London and New York feel on this new Monday, cause Asia has already had lunch and is on coffee number 3. Looking for a 3-4 hour close below the daily pivot point to trigger the short. I am always bullish long term on BTC, but it is nice to make some quick daily/swing profits to add to the bag.
Short
by TJ3x3x3
EUR/ JPY BEARISH BAT Here we have a bearish bat on the daily. Price came up a few dozen pips from the HOP on my pattern and slightly violated the HOP on the automated pattern recognition software. Now, I know I haven't been active lately, but for those who have been following my patterns know I am not a big fan of oscillators; however, we have a double top on the AMP RSI (scott carney's invention) and the HSI is in a divergence, indicated by the yellow arrows. (also another Scott Carney invention. What i would like to see for an entrance is today it finishes as a blue candle to retest the high, then Monday finish as a moderate bearish engulfing candle then Tuesday enter. That's the plan. Take .5 of my position out on the 382 of the pattern and move stops to BE and then let the trade do as it wishes. Half the Profit is better than a full loss. #breakevenorbust
Short
by ARegularGuy
1
ORION misses investor expectations: Q4 EBITDA -31.3%FUNDAMENTAL: The company improves EBITDA YoY +9.0% but misses Q4's by -31.3%. Net Sales (YoY) +2.6% but missed Q4 -7.0% Outlook for 2021: Net sales in 2021 slightly lower than in 2020. Operating profit estimated to be lower or clearly lower than in 2020. TECHNICAL: Fibonacci Retracement level suggests Orion's about to break 0.618 level downwards up until 29.60 support level. Besides the RSI 14 touching upper boundaries, the harmonic figure of a Bearish bat pattern might also confirm the change to downward trend which may last until April 19th. Further digging from 29.60 support is unexpected. the Company's P/E ratio is aligned with that of the industrial sector: 22.84 (vs industry's 21.18)
OMXHEX:ORNAVShort
by alexinve
1