USDCHF Daily Bearish Bat Pattern
With not a lot going on in the markets thus far this week I started venturing outside of my usual trading portfolio to fins some ideas I could share with my Syndicate clients. This was one that really popped out to me.
In light blue is a bearish bat pattern with some extra Fibonacci confluence within my killzone. More importantly is the large bearish candle that exist 2 bars from the "X" leg. I've been looking into these types of candles over the past few months and although I haven't finished my personal studies on them, I can tell you that the area around them seem to act as great potential reversal zones. This one happens to be an "X" leg which means previous structure highs as well.
As I told my Syndicate members if the pattern itself is too large for your liking, keep an eye out for when price action enters that killzone and see if you can use a lower timeframe technique to involve yourself in the trade.
*I've been getting some positive feedback from this mornings blog post so here's the link if you wanted to check it out. ratiotradingmentor.com/2014/07/29/your-eyes-will-lie/
In light blue is a bearish bat pattern with some extra Fibonacci confluence within my killzone. More importantly is the large bearish candle that exist 2 bars from the "X" leg. I've been looking into these types of candles over the past few months and although I haven't finished my personal studies on them, I can tell you that the area around them seem to act as great potential reversal zones. This one happens to be an "X" leg which means previous structure highs as well.
As I told my Syndicate members if the pattern itself is too large for your liking, keep an eye out for when price action enters that killzone and see if you can use a lower timeframe technique to involve yourself in the trade.
*I've been getting some positive feedback from this mornings blog post so here's the link if you wanted to check it out. ratiotradingmentor.com/2014/07/29/your-eyes-will-lie/
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