USDSGD - Bearish Bat Completed on H4 Chart

• Price is currently at trendline resistance level
  
• At the same time, a bearish bat pattern has completed
  
• RSI is also at overbought level
  
• Good R:R at 1.8 (TP1) and 3.1 (TP2)
  

Wait for current candle to close and observe the next candle.

Kommentera:

Price had broke trendline resistance level, pattern is not valid anymore.
I am now looking to long instead as I have spotted a bullish flag pattern.

How to trade the bullish flag pattern?
1) First identify an instrument in a strong up trend (flag pole)
2) This price consolidation becomes the ‘flag’ of the pattern
3) If the retracement becomes deeper than 50%, it may not be a flag pattern
4) Look for prices to break higher with a length equal to the size of the flag pole

Kommentera:

Spotted a bullish bat pattern completed on H1 chart, check it out.