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