BULLISH BAT With Bottom Reversal it’s a two bar Sign Of Strenth. First bar is widespread down bar closing on/off the low with high volume (demand swamping supply) or low volume (no supply). The low and the close of first bar are lower than the previous few bars. The second bar is widespread up bar closing on/off the high on higher or lower volume than the first bar.
As second bar close & high are higher than the first bar high and volume on second bar is higher than the first bar volume, it shows effort to rise is successful (if second bar low is lower than the first bar low it shows additional strength). It shows immediate strength (Effort vs Result) & can be traded immediately on first No Supply / Test. We need LOW VOLUMES now with RSI above 30
price need to follow Green Trend line & hit target
If price Breaks Red Trend line is where EXIT before SL hits
POTENTIAL BUY
As second bar close & high are higher than the first bar high and volume on second bar is higher than the first bar volume, it shows effort to rise is successful (if second bar low is lower than the first bar low it shows additional strength). It shows immediate strength (Effort vs Result) & can be traded immediately on first No Supply / Test. We need LOW VOLUMES now with RSI above 30
price need to follow Green Trend line & hit target
If price Breaks Red Trend line is where EXIT before SL hits
POTENTIAL BUY