Hi friends, I hope y'all had a fantastic weekend ;)
Today, we have possible buy trade signal on this babe. This trade is derived from the monthly time frame that expects a bullish retest on the huge double tops neckline, symmetrical triangle ascending trend line, and 8 m.a. That retest will be triggered by the double tops accumulation phase, that will form a mini double bottom on the monthly that will be visible as a huge pattern on the weekly. The double bottoms 2nd leg formation will be driven by this time frames bullish half a bat pattern. Although we expect a bullish counter-trend, there's a high probability for a bearish long-term trend that will occur soon or later. With that said, let us take a look at how the bulls and bears might behave in triggering our trade and not.
Bulls: -If the price bullish rallies to break and retest the Daily Half a Bat Neckline and Mini Weekly Half a Bat Neckline, together with the 50 and bullish crossed short-term m.a's, that will trigger what I call a "Half a Bat A-E.2 BUY signal". That signal will lead to a bullish 3 level trend and 200 m.a that will probably end on the last take profit point.
Bears: -If the price bullish bounces off the Daily Half a Bat Neckline/Mini Weekly Half a Bat Neckline and 50 m.a with a bearish reversal candle or reversal pattern that leads the price to bearish break and retest the 8 m.a (dark blue), that will dis-confirm our trade.
That's it for today. I hope you found value in this idea. If you have a different concept in mind, feel free to share it in the comments section or in private, I'd love to know your thoughts!
Stay Blessed,
Doji-2k1
Today, we have possible buy trade signal on this babe. This trade is derived from the monthly time frame that expects a bullish retest on the huge double tops neckline, symmetrical triangle ascending trend line, and 8 m.a. That retest will be triggered by the double tops accumulation phase, that will form a mini double bottom on the monthly that will be visible as a huge pattern on the weekly. The double bottoms 2nd leg formation will be driven by this time frames bullish half a bat pattern. Although we expect a bullish counter-trend, there's a high probability for a bearish long-term trend that will occur soon or later. With that said, let us take a look at how the bulls and bears might behave in triggering our trade and not.
Bulls: -If the price bullish rallies to break and retest the Daily Half a Bat Neckline and Mini Weekly Half a Bat Neckline, together with the 50 and bullish crossed short-term m.a's, that will trigger what I call a "Half a Bat A-E.2 BUY signal". That signal will lead to a bullish 3 level trend and 200 m.a that will probably end on the last take profit point.
Bears: -If the price bullish bounces off the Daily Half a Bat Neckline/Mini Weekly Half a Bat Neckline and 50 m.a with a bearish reversal candle or reversal pattern that leads the price to bearish break and retest the 8 m.a (dark blue), that will dis-confirm our trade.
That's it for today. I hope you found value in this idea. If you have a different concept in mind, feel free to share it in the comments section or in private, I'd love to know your thoughts!
Stay Blessed,
Doji-2k1