Get started

Bearish Bat

USDJPY - Resistance LevelIf you read my last week's analysis, you should know that there is a potential Bearish Bat Pattern on the daily chart(the link is within the tradingview article). If you are looking for a counter-trend trading opportunity, the Bat Pattern might not be the best setup, and that's because I don't like what I'm seeing(consolidation before the Point D completion). I'm more inclined to wait for a shorting opportunity at around 137.56, which happens to be the 1hourly chart resistance level. First of all the initial risk isn't great; furthermore, it is a more important level of resistance.
Short
by RaynLim
USDJPY-Weekly Market Analysis-Aug22,Wk4It is a joke to read that; "The US Dollar dipped on CPI data"; or "The US Dollar dipped on inflation". If you have been following us, you should know that the Buy Zone(Blue Box) has been there for a long time. Yes, the dollar is still bullish; some may argue that it is due to Yen's weakness, but you can check other Dollar pairs and compare on its daily chart. The dollar is far from the bearish move; however, counter-trend traders can wait for a 3-bar reversal at 138.35 at Point D of the Bearish Bat Pattern.
Short
by RaynLim
LINKUSD: Bearish Bat with Hidden Bearish Divergence at Range TopCHAINLINK has been trading within this range for the last few months and recently has put in a Partial Decline; However it has formed a Bearish Bat on the Way up and may look to make a 50%-78.6% Retrace before continuing back up again to Bullishly Breakout. So i would say the short entry is here and the profit target is between the 50 and 61.8 Retrace. Before then reversing again and giving us a Secondary Partial Decline.
COINBASE:LINKUSDShort
by RizeSenpai
1