Bearish Bat

I have identified a potential bearish bat harmonic pattern.

This pattern is round just under the major descending trendline.

There is structural resistance above the price as indicated by the yellow box.

I have a small minor trendline drawn on the chart, once that trend line has broken then it is a good sell indicatiors.

The RSI is overbought with the 4hr showing divergence.

Comentário:

From the 15min chart price is in a parallel channel, divergence is growing.

A break out would help with the sell signal.

Plus, entering a trade with a smaller time frame can reduce the risk and increase the risk reward ratio