Pair has formed bearish bat pattern completing at 1.94475. RSI above the 70 confirming sell signal. ATR stops above Bat's starting point X.
Plan your trade, Trade your plan and Good luck in the markets!!
Following the break of the descending channel(see pic. below)
Pair is now setting up for a bearish pullback trade. Bearish bat that pair is potentially forming now, is completing at even handle number 1.5200, which serves as resistance itself. Also completion of the bat would form double top and therefore if bat pattern's...
I will be using this Bat pattern as short entry on this pair. If price pushes up to this level then i will be looking for a sell signal on lower time frame . RSI must be overbought and diverging to confirm sell signal. ATR based stops above the pattern starting point X. Minimum Risk/Reward Ratio for this trade is 1.45(TP1).
Trade your plan and good luck in the...
Following long bearish three point correction, pair has put in double top ,and broke below the support of double top and is now potentially reversing. After breaking below the support pair is currently forming a potential bullish bat on 15 min TF, completing at the previous structure support (now resistance).
Potential bat pattern forming on NZD/CHF 4 hour time frame!??
TP @ 61.8 Fib retracement of C/D
If price action confirms further bearish movement @ 61.8 fib then TP2 will be towards 127% extension of C/D
A bearish Bat completed but price spiked a bit above the reversal zone. I have a pending sell order at 1.7425 with stop loss at 1.7455 (30 Pips) and targeting 1.7335 (60 Pips). I will delete this order if price rallies above 1.7465 before the short trigger.