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Bearish Bat

Spy - Bearish bat formationSPY Tight squeeze Can go in either direction , the graph looks to me like it will go down soon, maybe a little up, but ALOT downward potential (in my opinion) Notice the W shapes on the graph before it crash. (bearish bat) i dont like the W too much... play SPY safely! except a surge of downward movement soon. SPY is at a weird state where stocks have been breaking out as well stocks are undervauled. When one stock consolidates another one breaks out , spy goes up nonstop. but this wont last forever! When the main overvauled stocks sell off it will shock the whole market and people will get scared Puts on spy @ 318+highs , Calls on spy when 300+low
AMEX:SPYShort
by dekirby4
Updates of GBP/USD: Beware of Manipulation!!!Hello guys, in this technical analysis I found up a another armonic figures a BAT, So, the target is reach at 1.618% of Fibonacci, now, we find up with bearish candlestick pattern and so, it's mean a possible manipulation of this zone, I use my secret Fiboancci called Shark Hunters, well, it's never get us this pattern when we do in the morning a possible buy zone, but it's have a invalid because this is a price consolidated a little, so, don't put any long position in there. Because if you use any indicator as MACD or RSI there show us a bearish divergence, but specially in MACD we see a weakness of the price, and it's a possible go back into the bearish channel. Also, I add my previously technical analysis of this par!!!
Short
by harisonhbn9718
2
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!
TVC:SPXShort
by Petrichor_
1
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.
TVC:SPXShort
by Petrichor_