Hey all!
As you see in the chart, a BEARISH BAT Pattern has formed and overstrecthed to the point where it is close to invalidation. THIS TRADE IS DEFINITELY YOUR CALL IN TERMS OF RISK-TAKING. MY personal opinion is pattern is still valid and stretched to the point where it makes risk-to-reward ratio even better. Since the pattern is over-stretched, it is easier...
Hey all! There is a possibility of a BEARISH SHARK pattern forming on the hourly chart of SPY.
I marked the Potential Reversal Zone (PRZ) with a reddish rectangle box loosely. The critical levels are the 0.886 XC, 2.0 AB and 2.24 AB levels. The price action is likely to reverse around those levels if the pattern completes. There is a gap around the $330 level....
The euro fell sharply against the dollar and the safe haven yen late Friday as risk aversion spiked after Turkey’s prime minister said an attempted military coup was under way, anyways on Monday, July 18 markets in Japan will be closed for a national holiday and New Zealand is to release data on consumer price inflation, so we'll be looking forward for something...
