Pattern & Market Structure based setup - biased of Bull Bat POR

Hi from my initial Bias, I could go and take short of this market as there was an impulsive movement of market to the downside breaking structure on the previous market movement up in a corrective way. With that bias, I would like to go for a bear, and there are two ways on how I can short this market, Its either i would go and take short on a bearish bat pattern which is near to the previous high, as if i am expecting market to be not in uptrending anymore and that there could be a reversal to the downside. A good placement of SL would just be above the previous high. And other way around would be a breakout of key support to go for a short as for a breakout approach.

Targets would be on the previous low as for my tp1 and extended to a certain bullish pattern completion that there could be another opportunity for me to enter long depending on future market/price action.

Trade with care as there could be an upcoming high impact news which is the UK Parliamentary election.

İşlem kapandı: hedefe ulaştı:

TP 1 is hit and SL is move for positive risk free trade, and expecting to hit TP 2 and could be another opportunity for us to enter LONG.

Yorum:

It seems the zone by which we would like to take TP 1 is acting as a sup/res. Here we can say support now becomes resistance.