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Bearish Bat

GBPUSD-Weekly Market Analysis-Jun20,Wk2On the view of the daily chart, this is a trend trading opportunity. The market is now at the HOP level of this bearish bat setup. Many harmonic patterns traders who didn't go through the right education may just miss this, I'm waiting for further confirmation to engage this shorting opportunity, a break and close below the black trendline will be preferred but at least a bearish engulfing candle and retracement back to the 1.2680 for the shorting opportunity. When the trade is engaged, that's not the end of it, in fact, it will bump into the buy zone based on this timeframe, the 4-hourly chart. A break and close below the buy zone is required for this trade to be profitable.
Short
by RaynLim
SPX Bearish Nenstar (Shark) completing at 3047-3060Bearish Nenstar harmonic, cousin to shark, cypher, bat/butterfly patterns; a Gartley variant. Typically the selloff from pattern completion at D is a .50 retracement of the CD leg up. In this case, price would be expected to drop ~150 pips to close the gap at 2864. Nenstar and Cypher patterns are variants of Sharks. Basic form: C is lower than A. In Bearish Butterflies & Gartleys, C is higher than A. Sharks: Nenstar D is higher than X, Cypher D is lower than X. All variants of the same theme = 'W' pattern leading to price correction. Nice examples here: www.traderslaboratory.com NB: Final move C-D in Nenstar may extend to 1.272 - 2.00 of A-B. In this case, 147 pips for AB x 2.00 = 3060, maximum pattern height. This is just an idea and in no way constitutes investment advice; GLTA!!
TVC:SPXShort
by DaddySawbucks
39
NIFTY50 - Daily Upate#NIFTY50 - These were two harmonic probabilities, I shared yesterday, and nifty closed at Bat pattern resistance zone 9490-9515. Sgx nifty is almost flat, so nifty is gonna open flat near pattern resistance, hence resisting near those levels can take nifty to 9350 -9330 levels. On the flip side only a decisive break of 9500 levels, will open up the next harmonic shark probability that will take nifty to 9770 levels. Important levels to watch Resistance 9490 - 9515 Support 9350- 9330 Below 9200 - The shark harmonic Probability will be negated.
NSE:NIFTY
by manuagarwal21
Low Risk High Return at EURUSDHow can you risk small but gain high returns? The answer is to enter a trade that allows you to set a tight stop loss without compromising the trade setup and has the potential you make at least 3 times more than the risk. Here's a good example. EURUSD has completed a Bearish Bat while showing signs of sellers already. If you sell now, you just have to set your stop loss above point X of the bearish bat and your risk will be about 40 pips On the other hand, your potential profits are 70, 100 and 160 pips based on the important support levels. The first target will give you 1.75X return and the last one will give you 4X return. So as you can see, this is very logical and reasonable. We can't control how the market move but we choose what kind of trades to make.
Short
by AlgoVenture
4
Trade Ideas Position: GBPJPY BatA Bearish Bat pattern has formed up earlier and we had engaged the trade. This post was delayed due to the 10limit post per day restriction that was set by tradingview. I had written them a feedback hope this can be fixed. So back to our analysis, this was a perfect setup as the bearish bat pattern was formed on the sell zone area on this trend trading setup, there is an RSI divergence on this too. The only thing that isn't that great is candlewick of Point C(circled red) touches Point A, but that concern has been answered with the 3bar reversal candle that breaks below and closes below the terminal bar which has been marked T-Bar. If this sound alien to you, drop me a message rather than rushing into the trade.
Short
by RaynLim
GBPJPY - BEARISH BAT PATTERN WITH CONTINUATION POTENTIALThe 2nd pair we visited in this weekend's video was the GBPJPY. On the higher timeframe we have recently violated a previous level of structure support which gives me a bearish bias. We also have a potential bearish bat pattern forming to add some confluence to that idea. Most of the time advanced pattern formations form within a period of consolidation, but every once in a while you'll see one like this which comes withing a complex pullback of an overall trending market. In these types of situations, not only does it add confluence to your idea, but it also offers the opportunity to be more aggressive with your target(s). For the video walkthrough of this setup please see my youtube video title "A Lesson on Structural Integrity" around the 5:50 mark I hope you have a great trading week! Stay Safe! Your Trading Coach - Akil
Short
by Akil_Stokes
4