Sellzone
GBPUSD-Weekly Market Analysis-Oct22,Wk1Last Friday, I shared this analysis in Tradingview; the comment I received is lovely yet scary. The reader felt that the Bat Pattern had completed and seemed like he had engaged in the trade. Oh nooo!!
First of all, no matter who the analyst was, never follow their trading ideas blindly. Secondly, for the Bearish Bat Pattern to be valid, the market has to touch the furthest end of the PRZ; in this example, it's at 1.1251 and touches the opposite end of the PRZ for it to be valid.
Engaged in advance of the pattern completion can risk riding on an invalid setup or put yourself at a major disadvantage when you enter too early.
Some of the obvious disadvantages is a lopsided Reward is to Risk; you risk more and earn lesser than other traders who engaged in the same trade. While others can shift their stop-loss to entry, you could only reduce your risk.
With that said, in this bearish setup, my analysis remains unchanged.
GBPUSD - Bearish BatA Bearish Bat setup within the sell zone work well for trend traders. Consolidation before completion could be a warning sign for the Bat Pattern trader; hence traders must wait for confirmation in the PRZ zone and not to rush into this Harmonic Pattern without waiting for further confirmation.
USDCAD - Bearish Bat comboThe Potential Bearish Bat setup on the 1hourly allows the "latecomer" to engage the trade and die-hard traders who got involved on the Bearish Deep Gartley Pattern a chance to increase their position without increasing their risk.
That said, candlestick pattern confirmation is essential before entering the trade, even though the Bat Pattern is formed within the sell zone.
A new sell zone on EURUSD Yesterday EURUSD tried to continue falling down but instead of that we saw some strength in the pair and price moved up to 1,0065.
That's why we won't sell until the market breaks below a previous low or it reaches our new sell zone.
The new zone is above the 1,0090 high and in case of price visiting that area, we will look for another rejection.
Today we should wait for another sell signal.
We are definitely not looking to buy!
2X $PLTR 1D Tech. Analysis!$PLTR stock has been getting KILLED!!! Now sitting on -75% Discount, reached all-time lows in May (-85% Discount). We are looking to join the fun & capitalize! We are looking for PUTs only on Palantir tech, we are currently in the golden zone of the FIB. The stock will retrace due to bullish momentum the past 3 days last week but soon as we see a Doji or bearish confirmation, WE POUNCE & EAT GOOD off of this bearish move forming!
EURJPY - Bearish GartleyA Bearish Gartley Pattern completing at 137.00 within the sell zone on the EURJPY 1hourly chart. In this intra-day timeframe, it may offer more profit opportunities than you think it could.
Be patient, and once you have the candlestick pattern confirmation, like the 3-bar pattern, you decide if this trade is for you.