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Bearish Bat

USDJPY-Weekly Market Analysis-Jul19,Wk3Given a choice, I will not gunner for a head and shoulders bottom, a bearish bat with a bullish shark at the same time. It is what it is as all these 3 opportunities are valid. Let just look at the head and shoulders bottom setup, a great retracement that gives me the opportunity to engage the trade as a counter-trend setup. Whether to stretch the target to the bearish bat shorting opportunity is another story but its possible. Not forgetting at this moment there is an RSI divergence. Does this setup give you a scare, I don't. 1) Trade what you see 2) Follow your trade plan
Long
by RaynLim
Trade Ideas Educator: NZDJPYWell, this is 1 of the most interesting setup having the 4-hourly trend setup entirely different from the daily chart and 1-hourly chart. So what is this about? Well, based on my experience, is more likely for the Top Chart(4-hourly chart) to trigger than the other. Hence, I'm waiting for a buying opportunity as a counter-trend trading move at 70.75 However, if the market did rise to 72.83 after the market gave the signal to engage a short, I will not hesitate to engage it.
Long
by RaynLim
1
Trade Ideas Educator : NZDUSDBottom Left shows that on the weekly chart, NZDUSD is having an emerging bearish bat pattern that I'm waiting for a shorting opportunity but of course that won't be ahead on the daily chart on the bottom left that too have a bearish bat setup. On the 4-hourly chart will be the most immediate opportunity, however, the market has to retrace by Tuesday, 9 July 2019 to make it possible. The ideal sell zone is within the red box. What're your thoughts on this? Comment down below.
Short
by RaynLim
1
BTC Bearish Clues : Bearish Bat Pattern and Falling Wedge StopIn the begin of this week, the consensus of technical analyst was clearly the following one : Bitcoin is going to sink again ! Not considering if Bitcoin is a good asset to invest in the long term or not, the doji formed on a weekly chart by end of May was a clear bearish sign and many analysts were surprised when the falling wedge has been broken on June, 10th by high buying volumes. More than that, these last 2 days BTC broke up a rising wedge, canceling the head and shoulder pattern many people were anticipating. Since then, the consensus changed and we can observe everyone is very bullish on the most famous crypto asset. Nevertheless, I think this is a good time to highlight things I have not read yet. First of all, we cannot consider BTC is back before it makes a higher high (higher than 9108$ of May, 30th). Secondly, as you can see on the graph, a perfect bearish bat pattern (XABCD) has been formed today. Even if this harmonic pattern is consider as the most reliable one, I can understand that this is not enough to conclude that BTC will not go higher tomorrow. But there are other signs that show BTC weakness in the coming days. And we come to our third (an maybe strongest) clue : the point D that confirm the pattern formation combine exactly with the extended line that goes by the all time high of BTCUSD and the recent 9100$ level we have seen. This is not visible on this chart, but you can try to draw the extended line going through these 2 points, and you will find out that we are exactly there now. Finally, there is an RSI divergence (as you can see on the bottom indicator). This divergence is also visible on a daily chart. Following these observations, I conclude that BTC will not go higher now . First target is point B of the bat pattern (between 8000 and 8100$). Second target is point C of the bat pattern (around 7500$). Stop loss can be set above 9100$ level. If BTC goes higher than that level and can consolidate there, all these analysis is wrong, and something else is probably happening). Hope you will enjoy it, and that it can help some (lost) people. Cheers, Saint.
COINBASE:BTCUSDShort
by SainTrader
1