Get started

Bearish Bat

Trade Ideas Position: GBPJPY BatA Bearish Bat pattern has formed up earlier and we had engaged the trade. This post was delayed due to the 10limit post per day restriction that was set by tradingview. I had written them a feedback hope this can be fixed. So back to our analysis, this was a perfect setup as the bearish bat pattern was formed on the sell zone area on this trend trading setup, there is an RSI divergence on this too. The only thing that isn't that great is candlewick of Point C(circled red) touches Point A, but that concern has been answered with the 3bar reversal candle that breaks below and closes below the terminal bar which has been marked T-Bar. If this sound alien to you, drop me a message rather than rushing into the trade.
Short
by RaynLim
GBPJPY - BEARISH BAT PATTERN WITH CONTINUATION POTENTIALThe 2nd pair we visited in this weekend's video was the GBPJPY. On the higher timeframe we have recently violated a previous level of structure support which gives me a bearish bias. We also have a potential bearish bat pattern forming to add some confluence to that idea. Most of the time advanced pattern formations form within a period of consolidation, but every once in a while you'll see one like this which comes withing a complex pullback of an overall trending market. In these types of situations, not only does it add confluence to your idea, but it also offers the opportunity to be more aggressive with your target(s). For the video walkthrough of this setup please see my youtube video title "A Lesson on Structural Integrity" around the 5:50 mark I hope you have a great trading week! Stay Safe! Your Trading Coach - Akil
Short
by Akil_Stokes
4
FDN (DJ Internet Index) Double Bearish Patterns evolving.....In the Covid-19 fell March/April selloff this index fell approx 32%. It has regained just about 88% of this range and created a Bearish Bat Pattern. One can overlay this with a Deep Crab Pattern which started on March 10th and signalled today. The Deep Crab Pattern typically can have an extention which exceeds 1.618 and can reach as far as 1.94x so this would target $156.57 area max. So two bearish formations could lead to rapid sell off if some of the main internet sector leaders fail or the general market hits an air pocket. This is a 180 minute chart so price action could evolve quite rapidly S.
AMEX:FDNShort
by Steve666