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Bat

Market Analysis: Bullish Harmonic Bat Pattern on GBP/USDOverview of the Setup : This chart highlights a **Bullish Harmonic Bat Pattern** on the GBP/USD pair, with the potential for a reversal to the upside after completing the pattern near the critical support zone. --- ** Key Observations: 1. Harmonic Pattern : - The **Bullish Bat Pattern** completes at point X (around 1.22628), which aligns with the 0.886 Fibonacci retracement level of the XA leg. This level represents a strong confluence of support and potential reversal. - The reaction at this zone suggests that buyers may be stepping in. 2. Price Action : - The recent downtrend has reached exhaustion at point X, with the price consolidating and showing signs of a potential reversal. - The price has formed a **lower wick**, indicating rejection of lower levels and possible bullish momentum building. 3. Fibonacci and Take-Profit Targets : - **Take-Profit Levels (TP):** - **T1:** 1.23541 (50% retracement of the XA leg). - **T2:** 1.24187 (0.618 retracement of the XA leg). - The harmonic structure suggests these levels as the most probable targets for a bullish reversal. 4. Indicators : - **Stochastic Oscillator:** In the oversold territory, signaling the likelihood of upward price movement as selling pressure weakens. - **RSI:** Approaching oversold levels, further supporting the bullish reversal hypothesis. 5. Key Levels : - **Support Zone:** Point X near 1.2260 is the critical level for the pattern’s validity. - **Resistance Zones:** MHQP at 1.2500 is a longer-term resistance, while intermediate resistance levels are 1.2350 and 1.2418. --- Outlook and Strategy : - **Bullish Bias:** The completion of the Bullish Bat Pattern and confluence of support suggest an opportunity for long positions targeting the Fibonacci take-profit levels (T1 and T2). - **Entry Zone:** Enter long positions near 1.2260 if price action shows sustained bullish rejection. - **Stop-Loss:** Place stops below 1.2220 to account for false breakouts. - **Targets:** - **T1:** 1.2350 - **T2:** 1.2418 Risk Factors : - A sustained break below 1.2260 would invalidate the pattern and could lead to continued bearish momentum toward 1.2200. --- This analysis highlights a bullish opportunity driven by the completion of the harmonic pattern, with clearly defined entry, exit, and risk parameters.
Long
by BeaucoupPips
Energy Fuels Stock: Potential Reversal Ahead?AMEX:UUUU After reaching a low of $0.78 in March 2020, AMEX:UUUU has been on a recovery path. Currently, it's forming an inverted head and shoulders pattern, with the key neckline at $7.47. A breakout above this level could signal a move towards $9.73. However, watch out for the bearish alt-bat pattern near $9.73, which could lead to a pullback. Stay alert for key price action and adjust your risk accordingly. ⚠️ Note: Any violation of the $4.19 support would invalidate the projected patterns in this idea.
AMEX:UUUULong
by Andre_Cardoso
FBU Fletcher Building NZLooking at Macro timeframe and there are some interesting levels coming up Large scale harmonic bat pattern and demand level, Coupled with lower timeframe fibonacci cluster levels just above and around the higher timeframe demand level Fundamentally this stock is ~50% undervalued, losing money but has forward dividend of >11% as @$2.59 and it looks like it wants to drop further which will increase this again... Might watch this around $2.35 - $2.08, for signs of life and hold this as a long term position Buy low + sell high and hopefully get good dividends while doing it, theres likely 200-400% upside if you're willing to hold for years, or if not then if it gets to double, sell half and reinvest in something else and forget about them until they hit $8-$10 Know the company well, as used their building products... so have confidence they will turn around if they divest their residential builds funded with debt and lighten the balance sheet converting these builds into cash This large scale pattern looks like a complex correction so the chances of staying in the $1.50 to $9-$11 range for a while is pretty high
ASX:FBU
by dionvuletich
#CCAP Egyptian stock#CCAP time frame 1 DAY Created a bearish Gartley pattern Sell point at 2.57 Stop loss / reentry 2.63 ( estimated loss -2.15% ) First target at 2.44 ( estimated profit 5% ) Second target 2.32 up to 2.24 ( estimated profit up to 13% ) and may prices still going down to around 2.00 . the profit in this case is saving your invest from losses up to 13% . in case the prices still rises then re entry for targets 2.75 , 2.83 , 2.93 up to 3.11. NOTE : this data according to time frame 1 DAY Its not an advice for investing only my vision according to the data on chart Please consult your account manager before investing Thanks and good luck
EGX:CCAPShort
by tfcgeorge
MGPI MGP IngredientsUnder legal issues for securities disclosure issues (or shareholders wanting to re-coop losses) Not sure if inventory disclosure issues really impact a businesses profitability or is considered enough to reward shareholders for losses, as that doesn't really impact profitability or value as carrying costs is already included in opex, but I'm not a fundamental analysis person Technically has several reasons this level may offer some medium term support I personally like higher potential profits but this one has a big cushion in terms of cash on hand (Quick ratio) has 30% insider ownership, has changed the management quickly upon the issue being raised, and is a relatively stable business from a profitability standpoint Not crazy cheap but has been driven down by bad news only and reaching technical levels of support with patterns emerging with oversold indicators and 18 year highs offering a zone of support meaning the path of least resistance is likely higher as all of the sellers have likely already sold Not looking to hold this one forever but may do a 1 year trade on it and try to capture the easy 50%
NASDAQ:MGPILong
by dionvuletich