Once again we have a Bearish Bat pattern being formed inside the previous Bearish Gartley and that make me remember one of the most important concept of the technical Analysis that say the history repeats itself in the market and that one of the reason we have this beautiful Bat formation.
So in addition to the PRZ of the Bat we have a resistance zone and also the PRZ of he previous Gartley closely in the same area, that's give us a clear picture about what's going to possibly happen if the price reach this zone.
And I really can consider this movement as a possible retest of the Gartley, that being sad stay tuned.
Rules:
1. Harmonic Pattern Completion - Waiting;
2. PRZ Hit - Waiting;
3. PRZ Test - Waiting;
4. Terminal Bar - Waiting;
5. Type-1 Reaction - Waiting;
6. Type-2 Reversal - Waiting;
7. Candlestick Reversal Sign - Waiting;
8. Candlestick Confirmation Sign -Waiting;
9. RSI Reversal Sign - Waiting;
10. RSI Confirmation Sign -Waiting;
11.Risk Management - Applied;
12. Risk / Reward - 1/3.
" Watch ye, stand fast in the faith, quit
you like men, be strong. Let all that ye
do be done in love."
1 Corinthians 16:13-14
So in addition to the PRZ of the Bat we have a resistance zone and also the PRZ of he previous Gartley closely in the same area, that's give us a clear picture about what's going to possibly happen if the price reach this zone.
And I really can consider this movement as a possible retest of the Gartley, that being sad stay tuned.
Rules:
1. Harmonic Pattern Completion - Waiting;
2. PRZ Hit - Waiting;
3. PRZ Test - Waiting;
4. Terminal Bar - Waiting;
5. Type-1 Reaction - Waiting;
6. Type-2 Reversal - Waiting;
7. Candlestick Reversal Sign - Waiting;
8. Candlestick Confirmation Sign -Waiting;
9. RSI Reversal Sign - Waiting;
10. RSI Confirmation Sign -Waiting;
11.Risk Management - Applied;
12. Risk / Reward - 1/3.
" Watch ye, stand fast in the faith, quit
you like men, be strong. Let all that ye
do be done in love."
1 Corinthians 16:13-14