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Bullish Bat

GBPUSD-Weekly Market Analysis-Jan21,Wk2Retracements are shown in post Brexit for both GBPUSD and EURUSD. On the daily chart, GBPUSD has a brief break and close above the recent high before making it way to its retracement. On the 1-hourly chart, there's an inverted descending triangle formation which could probably break and close below the bat pattern formation. If the market retest the trendline with a long shadow candle, I'll short GBPUSD and observe if the market consolidates at D point on the harmonic pattern.
Short
by RaynLim
POTENTIAL LONG BULLISH BAT APF H1 TFPOTENTIAL LONG BULLISH BAT APF H1 TF ADDITIONAL BIAS=HTF IS BULLISH *W4C IS THE BEST WAY TO ENTER Abbreviations / Keywords: LTF - Lower Time Frame HTF - Higher Time Frame TF - Time Frame TRS - Trend Reversal Strategy CRT - Counter-Retail Technique / Break-out APF - Advance Pattern Formation W4C - Waiting for Confirmation LLCC - Lower low, lower close HHHC - Higher high, higher close SL - Stop loss TP - Target Profit POR - Point of Ruin RRR - Risk Reward Ratio Risk Disclaimer: This is not a trade signal hence we'll not be held responsible for any losses that will occur in your account during trading. You and you alone are responsible for deciding if you are comfortable accepting the potential risk involved in trading. So trade at your own risk and do not invest money you cannot afford to loss..
Long
by Blessed_Trader22
LRC - Potential for a breakout? Charts starting to shape up!LRC is seeing some good signs shape up on the chart. Pretty clear bullish bat just ended, already yielding +40% and giving us a clear parallel wedge. Volume seems to be breaking out, we'll have to see if it can sustain this. MACD is showing first signs of reversal. Potential room for growth on RSI, though with the distance from the top resistance on the wedge being so large it's likely we'll see a reversal before the action completes. Pretty strong indicators for a breakout in the works. I'd aim to buy a retrace or a retest. This is not financial advice. Want financial advice? 2 words: Pet Insurance 🐕
Long
by cryptosince1963
2
REN - Potential Breakout Forming? Wait for Confirmation!!REN looks like it's ready to make some moves on the daily chart. We see a clear parallel wedge, a bat style fractal that has similar proportions to a textbook bullish bat, RSI is in a very good position for growth, MACD is showing a huge bull divergence which could be the start of a new potential uptrend, and volume is good on the breakout so far (though still need more time on weekly for confirmation there!) This should be a clear breakout or fakeout play, it's literally at the upper limits now so if we see a punch through look to snap some up on the retrace afterwards as we're likely to see more upside. This isn't financial advice. Want some financial advice? Don't get baseboard heating, it will kill your hydro bill.
RLong
by cryptosince1963
Bullish Bat Pattern (15M)The Bat Pattern , is a precise harmonic pattern discovered by Scott Carney in 2001 The pattern incorporates the 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ). The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The Bat utilizes a minimum 1.618BC projection. In addition, the AB=CD pattern within the Bat pattern is extended and usually requires a 1.27 AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.
Long
by Cryptsyxalt
1