Hi Traders, all the best for this week in trading. I wanted to share this potential advanced pattern to keep an eye on throughout this week, for those who trade advanced patterns this could provide a great long opportunity.
We see price breaking structure where we had the high being our A move then the outside return being the B move and not passing below the previous structure, then we see the Outside Return with the C move and not being able to even retest the A structure. after the C move we can see it has made a new structure low, break and close below.
After the new structure low we also see here outside return higher low, then we see the retest not getting close to the previous structure, then again we have made the retest at this level but not closing below. Maybe we will see a slight retrace and then a Double Bottom which should be the signal for a reversal to the upside.
If we do put in a Double Bottom here then that will be great because I have posted a Small Bullish Bat on the 1H Chart so keep this in mind when entering the smaller BAT PATTERN.
As always Green Entry Zone
Red Minimum Stop Level
Blue for Target 1 and Target 2 - Remember to adjust on D completion and keep your limit order just below 38.2% and 61.8% to ensure your targets are reached.
Second Stop moved to Break Even when target 1 is reached.
Good Luck and happy trading
We see price breaking structure where we had the high being our A move then the outside return being the B move and not passing below the previous structure, then we see the Outside Return with the C move and not being able to even retest the A structure. after the C move we can see it has made a new structure low, break and close below.
After the new structure low we also see here outside return higher low, then we see the retest not getting close to the previous structure, then again we have made the retest at this level but not closing below. Maybe we will see a slight retrace and then a Double Bottom which should be the signal for a reversal to the upside.
If we do put in a Double Bottom here then that will be great because I have posted a Small Bullish Bat on the 1H Chart so keep this in mind when entering the smaller BAT PATTERN.
As always Green Entry Zone
Red Minimum Stop Level
Blue for Target 1 and Target 2 - Remember to adjust on D completion and keep your limit order just below 38.2% and 61.8% to ensure your targets are reached.
Second Stop moved to Break Even when target 1 is reached.
Good Luck and happy trading
