GBPJPY - Bearish BatA Bearish Bat Pattern that has an ABCD Pattern converge at the same level, it will be a level that I expect a high volatility movement, it will be a good level to consider for a shorting opportunity.
Bearish Bat
Harmonic Bat + 5 wave impulse downOk, I just finished building this, now let me see if I can remember it well enough to explain it, lol. ;)
It starts with the harmonic bearish bat. Harmonics are about Fibonacci confluence and there are 4 fib rules to a bat.
1. B is 38% or 50% of XA. 50% is more reliable.
2. C is 38% of AB.
3. CD is the magical 88% of XA and/or 1.61 or 2.61 of AB.
So far, we have a bearish bat. There are 3 price targets. 38%, 50%, and 100% of AD, labeled in the purple box. Sometimes, profit can extend to 1.61% of AD.
Next, it also looks like we possibly have an elliot 5 wave impulse down, which so far fits tightly around the "D to profit" trend line. The 3rd wave down lands right in the sweet spot of two of the targets for the bat. I'll be taking some profits there. We also don't know if the FED and/or Congress will step in around this level. In March and April SPX was around 2400 - 2700, when money starting flowing back in from both sources. I'm fearful of a bounce in this area coinciding with more fed action and will likely take most profit here, and very carefully play wave 5 down. Small sample size, could be coincidence. I think the Fed is too calculating for coincidence though. However, they can't keep propping it up forever either.
Some other stuff:
- Today we retested twice and were rejected twice (so far) from the upper channel trend line we have been in for April and May of this rally.
- We weren't able to close the gap so island top reversal still in play.
- The island top occurred right at the back-test of the 2018 bubble line which we have so far aggressively been rejected from.
- We have the longer 11 year bull line just below at around 2700. This could be a bullish turnaround point if we bounce off of this line, if brrrrrr, etc. This could complete the Bat. To hit deeper targets, we need to slice through that line, maybe back-test (in the wave 4), and then head down further to 2475.
Me thinking out loud and possibly over analyzing (may be more confusing than helpful so feel free to skip):
- It's a little tricky because profit taking for the bat is above the 11 year line, and in order for the back-test to occur in wave 4, wave 3 needs to finish below the line, extending past the 38% and 50% profit zones but not far enough to reach the 100% zone. We know harmonics and waves aren't precise, just guide posts. Just keep this in mind. I'm happily open to any feedback, questions, etc.
- I suppose wave 3 could finish in the profit zone, and then wave 5 takes us through the 11 year line, but that doesn't leave a lot of room for a back-back test. Maybe we test it after completing wave 5.
- Lastly, because I started my A for the bat higher than March lows, I don't know if this means the larger A of ABC is at the bat A or at the lows, hence the two As and two Cs. (March lows are a 38% extension of my X(bat)A).
Thank you for reading. This is not trading advice, just the working model I am following at this point. Happy trading and good luck!
Bearish Bat Harmonic, SPX Short The Bat gives us much shallower targets than the Gartley I posted earlier but may be more precise. Maybe they will both play out and we'll reach March lows (and then some) after all. But if we're trading the Bat (hoping for the Gartley), the three targets are 38%, 50%, and 100% of AD, starting around June 22nd through to July 15th.
The difference between the Gartley or the Bat pattern for this move is where "A" is placed. On this Bat, placing "A" at 2478, gives us all of the correct fib rules (give or take 1%) for each leg, with the March low being an extension of price point "A" before reversing.
I posted a gartley/bat chart earlier, but I wasn't satisfied with point "C" not following the correct Fibonacci rules with "C" and "D". Finding the correct points can be an art as many say, but I'd feel more comfortable trading it if the fibs were only a couple percentage points off, rather than a large chunk.
This is not trading advice. Good luck and happy trading.
S&P500 D: Bearish BATBearish BAT in play on the daily time frame. Right now price found the support at Kijun.
If this level break Bullish BAT on H4 will be confirmed as below.
My entries on the chart. I will be adding more if 3k breaks and confirm the H4 BAT and ABCD.
AUDUSD - Bearish BatIf you have been following me for some time, you will know that I'm very bearish on AUDUSD on a longer-term(3-years) perspective.
This Bearish Bat Pattern is at a perfect shorting opportunity on the daily chart. That being said, confirmation of the candlestick it's important.
EUR/USD bearish bat pattern playing out?Rode some up, then some down already. No position currently.
Looking for some bearish continuation in the next few days (1-3 days) into the 8H dz.
Gold (Contiuous contract) .... Resistance in the 1750-1762 areaA Bullish Bat Pattern ending in late May provided a $75 run. (Point D).
This reversed and on June 5th began a second run.
I have added 2 Pitchforks on the last swing points which converge and provide resistance in the 1750 to 1762 area.
A 100% and 113% extention area also provide areas of resistance. DE overlayed starting at point F.
For that reason I believe that Gold will have problems at the aforementioned levels.
S.
US30 Weekly OUTLOOK Not the cleanest B & C points but reaction with the wick at 786 as typical Cypher.
Price rejected at 786 (pink) and currently testing Daily 100 SMA, also DT on H4. This 786 could be B point of potential Butterfly with D around 33k. To see that need more downside to get C at least to 382.
That may work if Bearish BAT below, already in play reach TP1-382. Currently testing 50% (orange)of the last wave and Daily 100SMA as mentioned. That level (50%) could also work as a C point for potential ABCD pattern if will not see a further drop.
The long- term long even if the price will drop to the lower take profits levels of the BAT.
PS. I post most of my ideas in the Polish language to develop polish TV community. Feel free to take a look. I guess the chart speaks internationally =)
Bear Bat on GBPAUDTook a while but the bear bat managed to complete in timely fashion.
Targets 1: 1.8220
Target 2: 1.8158
#IDFCfirst - same like #ICICIbuy to sell just like ICICI, possible triangle, doublebottom & bearish bat forming
#ICICI - Buy to sell#ICICI looks possible double bottom, also it is trading inside a triangle & possible bearish BAT
not a good R:r trade in my opinion but looking at other stocks a Relief rally is coming for next few weeks before final wave of Corona comes
GBPUSD-Weekly Market Analysis-Jun20,Wk2On the view of the daily chart, this is a trend trading opportunity. The market is now at the HOP level of this bearish bat setup. Many harmonic patterns traders who didn't go through the right education may just miss this, I'm waiting for further confirmation to engage this shorting opportunity, a break and close below the black trendline will be preferred but at least a bearish engulfing candle and retracement back to the 1.2680 for the shorting opportunity.
When the trade is engaged, that's not the end of it, in fact, it will bump into the buy zone based on this timeframe, the 4-hourly chart. A break and close below the buy zone is required for this trade to be profitable.
NFLX Bearish Head + Shoulders + Potential Bearish Bat PatternPOTENTIAL bearish Head and Shoulders forming, as well as confluence with rejection off 1.618 fib extension + Bearish bat pattern. If the break of (B) confirms the star alignment, looking to enter short into the red zone, add on a reversal pattern confirmation, then add again on the trend line crack looking towards .318 and .682 retracement (green) for profit targets.
BANKNIFTY - 21500 important levels for monday sessionBANKNIFTY - 21500 important levels for monday session
#BCH - swing it Just gonna leave this bids with 2% of the folio at 2x leverage if I win will be amazing if I loose well it was worth it
SPX Bearish Nenstar (Shark) completing at 3047-3060Bearish Nenstar harmonic, cousin to shark, cypher, bat/butterfly patterns; a Gartley variant. Typically the selloff from pattern completion at D is a .50 retracement of the CD leg up. In this case, price would be expected to drop ~150 pips to close the gap at 2864.
Nenstar and Cypher patterns are variants of Sharks. Basic form: C is lower than A. In Bearish Butterflies & Gartleys, C is higher than A.
Sharks: Nenstar D is higher than X, Cypher D is lower than X. All variants of the same theme = 'W' pattern leading to price correction.
Nice examples here: www.traderslaboratory.com
NB: Final move C-D in Nenstar may extend to 1.272 - 2.00 of A-B. In this case, 147 pips for AB x 2.00 = 3060, maximum pattern height.
This is just an idea and in no way constitutes investment advice; GLTA!!
GBPUSD-Weekly Market Analysis-Jun20,Wk1Within the sell zone, a potential bearish bat pattern is going to form, even so, a candle confirmation is important in this trend trading opportunity.
This trade might just yield a great profit.
NIFTY50 - Daily Upate#NIFTY50 - These were two harmonic probabilities, I shared yesterday, and nifty closed at Bat pattern resistance zone 9490-9515.
Sgx nifty is almost flat, so nifty is gonna open flat near pattern resistance, hence resisting near those levels can take nifty to 9350 -9330 levels.
On the flip side only a decisive break of 9500 levels, will open up the next harmonic shark probability that will take nifty to 9770 levels.
Important levels to watch
Resistance 9490 - 9515
Support 9350- 9330
Below 9200 - The shark harmonic Probability will be negated.
