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Bullish Bat

*GBP/USD* Bullish Bat On The 1H We have a nice bullish bat forming on the GBP/USD pair, Intermediate Timeframe is 1H, Major is 4H and Minor is 15M. I expect this pattern to complete by the end of this week (01/07/2019) The following are the things I like to see confirmed before taking a trade: XA Retracement Is: 0.886 BC Projection is: 2.618 Alternate AB=CD is: 1.618. Stop loss level is measured with the fib retracement tool from X to A using a set ratio 1.13. Take profit level is measured with the fib retracement tool from A to D using a set ratios 0.382 and 0.618 If price reaches the 0.382 ratio I would move my stop loss into break even or just into a little profit to bulletproof the trade ensuring if the trade goes against me I will not take a loss and even a small profit. If you have any questions feel free to drop it in the comments. Happy trading and hope everyone has a great day! Matteo :)
Long
by MatteoMelidoni
Many Reasons to buy at around 7000Hello everyone, I have considered wave count in many ways, but finally found a perfect way to analyse the wave count. There are many reasons for buy at near about 7000 (If market goes to this level)- 1. Trend line support. 2. Previous 6800 support. 3. 38.2 fib retracement level at exact near 6800. 4. Bullish Alt bat or bat pattern formation. 5. And finally and most important Expanded flat Elliott waves correction pattern completion. If market goes above 8100 level then whole setup may be changed.
Long
by Dverma900
USDJPY-Weekly Market Analysis-May19,Wk5On the daily chart(right) an emerge bullish bat pattern is on the way and on the 4-hourly chart(left) the bearish bat pattern is emerging. So what should you be doing? That's when 2 important things come in place. 1) Filters and trade plan: this removes emotion and uncertainty in trading. 2) Overall market fundamental analysis, in this case, US Economy vs Japan Economy: US Any news along with interest rate cut, trade war, etc... Japan Any exchange rates intervention? Have a good think through on this.
by RaynLim
Trade Ideas Position: AUDUSD BatA type 2 Bat has formed up, so what is a type 2 bat, it simply means a retest of the entry level of the bat pattern. Although if the Bat has hit the 1st target during the setup and it is also a counter-trend move, it is not my favourite bat setup for a retest as some traders might have already exited this trade (losing the force to push it up) . In this particular scenario, there is a RSI Divergence and I do see a good potential setup and further extend upwards for a shorting opportunity. That gives fantastic Reward:Risk(RRR), hence, I'm in.
Long
by RaynLim
AUD/USD Technical analysis The counter saw two critical events back to back - The Australian election and the RBA minutes. Both presented diverged trade ideas and the market embraced with open heart. The gap up move which failed to hold the momentum amid RBA minutes has fallen back to its lows. And the setup is likely a Bullish Bat pattern. The stochastic indicator has flattened at the oversold zone. We feel that there is still room for upside correction in the counter. And we expect the counter to move towards a safe target of 0.69037 for now.
Long
by traderpulse
Gold: Bullish Bat After Double BottomThe intention to long the gold just like the post yesterday stays the same. We are supposedly expecting an ABCD pattern near 1290 and that price will continue to climb. However, the price fell too fast and more than what's needed, yet another formation appears which still favours the bulls - a bullish bat pattern. The completion of the bat pattern is part of a retracement after a successful double bottom. The bat pattern is now seen completed at the previously broken rising trendline. Thus, now would be a good opportunity to buy gold.
FX:XAUUSDLong
by AlgoVenture