Get started

Bearish Bat

Trade Ideas Position: USDCAD BatHaving the current candle movement, the market does suggest a potential breakout and close above the resistance. My EA pattern recognition software I've been testing for 1-year plus picked this up as you can see it spotted a bigger picture that can't even fit the entire bat in the chart. Definitely a countertrend setup on this. If you had read the previous analysis the head and shoulders formation has formed up, hits its target area and move rebound from the target.
Short
by RaynLim
1
Trade Ideas Educator : GBPAUD BatA bearish bat pattern traded on the type2 setup within the profit trend line. The 1st extended target of the bearish bat has already hit the target with 80pips of profit. When to extend and when not you may think? I could help, all you need is to ask and I'll head you to the direction you are looking for. Profit of course. With the final profit hit for the bearish bat, it will bring forward the opportunity of the bullish bat setup for a trend trading opportunity. Refer to my previous post to see how the trade had formed.
Short
by RaynLim
Trade Ideas Position: GBPAUD BatBearish Bat trading opportunity on this setup. To many harmonic patterns traders, this bearish bat might already be invalid but not for me. The red line act as a Profit Trend Line, if you don't know what is Profit Trend Line then you might have learned this from the wrong source. It is still valid for a short because it does show a series of lower-high and RSI Divergence in the earlier part. It is still a countertrend trade, if this doesn't feels right to you, don't enter.
Short
by RaynLim
2
Trade Ideas Educator: USDCAD BatA bearish bat with my favorite ascending triangle can be a bit tricky for the decision making for this setup. I will wait and see how the market react at the blue trendline, a break and close below the blue trendline will make the ascending triangle invalid, however, if the market didn't break and close below the bullish trendline(blue) I will unlikely let place a sell limit to short for the bearish bat. When 1 have multiple trading strategies is important to have an objective view in the setup.
Long
by RaynLim
Trade Ideas Educator: GBPAUD BatA bearish bat as a countertrend trade within the double sell zone with an RSI Divergence made it even better. This reminds me of the good old day where both my AUDUSD and NZDUSD have RSI Divergence, AUDUSD within the sell zone but NZDUSD broke the sell zone. At that moment I have gotten myself mentally prepared that 1 will hit profit and another most likely a losses. But guess I was wrong and I'm happy that I am both hit profits. Let's see how this baby roll out.
Short
by RaynLim
Trade Ideas Educator: GBPAUD TriangleAn inverted Ascending Triangle setup for a buying opportunity. A break and close above show a high tenancy of the market heading higher. So if the market head higher where would it most likely goes to? The previous high of the bearish bat entry point? Long from the current price is both a breakout and counter trend trading setup. Traders who are looking at a trend trading opportunity has to wait for the bearish bat setup is valid and engage for a short opportunity.
Long
by RaynLim
Trade Ideas Educator - AUDCAD SharkA bearish shark forms on the 1-hourly chart(left) with parallel uptrend channel indeed is not the happiest market movement when you are in the trade. What's great about this is it accompany with RSI Divergence which says otherwise on the market movement. Right now, if you have not engaged the trade you can wait for the retracement back into the sell zone on the 1-hourly chart to find your 2nd entry opportunity, that being said you have to be in before 5-0 pattern is formed. Most importantly, you should have followed my post closely so you won't miss this fantastic trading opportunity ever again. On the 4-hourly chart(right) a further uptrend extension the market may meet the bearish bat setup, another trend trading opportunity.
Short
by RaynLim
GBPUSD-Weekly Market Analysis-Aug19,Wk4On the 4-hourly chart(right), the market has retraced back into the sell zone for a trend trading opportunity. On the 1-hourly chart(left), just right before the market head to the sell zone the bullish flag patterned was identified as a counter-trend trading opportunity and I had shared on the previous post, is a pity if you have missed the trading idea. I've already engaged this trade as the bearish bat form and triggered the opportunity to trade. No double when the prices went higher after the trade was triggered definitely not my liking, but if you have spotted the RSI Divergence or you know the profitability rate of the bat pattern, it will be a peace of mind.
Short
by RaynLim