Major Head & Shoulders is in formation for Right Shoulder to be completed at 0.618 of the entire bullish impulse, which is also retracement 0.382 of the Deep Bat Pattern (Alternate Bat)
Alternate Bat Pattern confirmations:
- A-B must touch 0.5, but cannot touch 0.618
- B-C must touch 0.618, but cannot exceed A (FIbo A-B) or just keep an eye on that 0.236
- D completion at 1.13 (Fibo X-A)
- Take profits at 0.382 and 0.618 (Fibo A-D)
MACD shows huge divergence at Higher High for bearish movement.
Good Trading. - Daily Chart
Alternate Bat Pattern confirmations:
- A-B must touch 0.5, but cannot touch 0.618
- B-C must touch 0.618, but cannot exceed A (FIbo A-B) or just keep an eye on that 0.236
- D completion at 1.13 (Fibo X-A)
- Take profits at 0.382 and 0.618 (Fibo A-D)
MACD shows huge divergence at Higher High for bearish movement.
Good Trading. - Daily Chart
