(EP #23) Kelvin Trade Ideas - USDSGD Bat Pattern 2020-01-14

13 sty 2020

A bullish bat pattern is almost completed in one hour chart, it provides a potential reversal level (PRZ) from 1.34530 to 1.34500. This buying opportunity is a counter-trend trade because the market is in a down-trend in the larger time frames. Notice this bat pattern is not in a standard shape, because the closing price of the candlesticks in point C is higher than the closing price of the candlesticks in point A. However, the main reason why I still look at this bat pattern because the PRZ bottom 1.34500 was tested by market a lot. Market tested 1.34500 as support and resistance level in early February 2019, May 2018, late November 2017 and September 2017, etc. I am waiting for confirmation signals to long this market.

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