Pattern Based Trade Setup - Bear Bat with S/R confluence
A short/sell opportunity with a bear bat setup here. Trade with care.
Bat Pattern:
XApt - First market swing/leg
ABpt - 38.20% < 61.80% XA leg
BCpt - 38.20% < A point AB leg
Dpt completion - 88.60% XA leg - ENTRY
SL level: above/below the pattern's X point as we could determine it as a good support or resistance zone/level.
TP level: TP 1 on 38.20% AD leg, TP 2 on 61.80% AD leg and for TCT (trend continuation expect a formation of new highs/lows so on the recent lowest/highest price swing of the market structure (pattern).
Bat Pattern:
XApt - First market swing/leg
ABpt - 38.20% < 61.80% XA leg
BCpt - 38.20% < A point AB leg
Dpt completion - 88.60% XA leg - ENTRY
SL level: above/below the pattern's X point as we could determine it as a good support or resistance zone/level.
TP level: TP 1 on 38.20% AD leg, TP 2 on 61.80% AD leg and for TCT (trend continuation expect a formation of new highs/lows so on the recent lowest/highest price swing of the market structure (pattern).