Earnings this week..so a risky trade to trade before earnings. This sector has pulled back quite a bit.
CSIQ appears to be trading in a bullish Bat, but time will tell. There is also a bearish version of the bat (a bear bat (o: which looks like a crooked W. This is a Bull Bat and looks like a crooked M. If this is a bat, then the pattern completes at the .886 fib level of XA. It is a good idea to look for areas of confluence, where the chart kind of comes together, and look for D to be there. In other words, sometimes you may have to be a bit flexible.
XA is the longest leg in this pattern and is often referred to as the impulse move.
B can be anywhere from a .382 to a 0.5 retracement of XA. You can start to try to figure out which harmonic pattern at the B retracement. If C goes above A, then it is not a Bullish Bat. You can slowly eliminate patterns that it is Not, to try and figure out which one it actually Is or if it actually is a harmonic pattern.
The alternate Bat, and B retraces to the 0.382 or less and D is at the .1.13. So far CSIQ did not meet these requirements.
Sorry if my explanation is confusing, and if D goes any lower, this pattern would be ruled out.
Not a recomendation
CSIQ appears to be trading in a bullish Bat, but time will tell. There is also a bearish version of the bat (a bear bat (o: which looks like a crooked W. This is a Bull Bat and looks like a crooked M. If this is a bat, then the pattern completes at the .886 fib level of XA. It is a good idea to look for areas of confluence, where the chart kind of comes together, and look for D to be there. In other words, sometimes you may have to be a bit flexible.
XA is the longest leg in this pattern and is often referred to as the impulse move.
B can be anywhere from a .382 to a 0.5 retracement of XA. You can start to try to figure out which harmonic pattern at the B retracement. If C goes above A, then it is not a Bullish Bat. You can slowly eliminate patterns that it is Not, to try and figure out which one it actually Is or if it actually is a harmonic pattern.
The alternate Bat, and B retraces to the 0.382 or less and D is at the .1.13. So far CSIQ did not meet these requirements.
Sorry if my explanation is confusing, and if D goes any lower, this pattern would be ruled out.
Not a recomendation