Happy Friday Traders!
The market is presenting to us a potential bearish bat pattern on the hourly time frame. The pattern completion is offering entries at a level or recent inside structure and is aligned with the prevailing trend on the higher time frame. There is also some additional confluence with longer term MA's. Entry, stops and initial target projections are indicated on the chart.
--- P.S.
The market is presenting to us a potential bearish bat pattern on the hourly time frame. The pattern completion is offering entries at a level or recent inside structure and is aligned with the prevailing trend on the higher time frame. There is also some additional confluence with longer term MA's. Entry, stops and initial target projections are indicated on the chart.
--- P.S.
Trade closed: target reached:
Target 1 hit. Position 2 stopped out at break even