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Bullish Divergence in JARIR after Bearish Butterfly patternBullish Divergence observed in JARIR after Bearish Butterfly (bearish harmonic reversal) pattern completion. As expected the Bearish Butterfly pattern reversed from point D (potential reversal zone) and created a bearish trend on a daily time frame. A bullish divergence is now observed and the trend will likely reverse and a bullish trend will likely start. If the bullish trend is confirmed, this can be a good point to take long positions.
TADAWUL:4190Long
by wakqas12
8030THE MEDITERRANEAN AND GULF INSURANCE AND REINSURANCE CO.The bullish butterfly is another harmonic pattern in technical analysis, similar to the bearish bat pattern but indicating a potential bullish reversal instead. Like other harmonic patterns, it relies on Fibonacci ratios to identify potential entry and exit points in the market. Here are the key features of a bullish butterfly pattern: 1. **Initial Move (XA)**: This is the first leg of the pattern, representing the initial impulse in price. 2. **Retracement (AB)**: Following the XA move, there is a retracement in price, typically falling within the range of 0.382 to 0.786 Fibonacci retracement of XA. 3. **Extension (BC)**: After the AB retracement, the price extends in the opposite direction, forming the BC leg. This move usually extends beyond the XA move, ranging from 1.618 to 2.618 Fibonacci extension of AB. 4. **Final Move (CD)**: Finally, the price retraces a significant portion of the BC move, forming the CD leg. This retracement typically ranges from 0.382 to 0.886 Fibonacci retracement of BC. The bullish butterfly pattern suggests a potential reversal to the upside. Traders may look for buying opportunities when they identify this pattern, anticipating that the price will reverse its previous downtrend and start moving upwards. As with any trading pattern, it's crucial to combine the bullish butterfly pattern with other technical analysis tools and risk management techniques to improve the probability of success in trading decisions.
TADAWUL:8030Short
by B9A-88652-NisarAhmad
1
8020MALATH COOPERATIVE INSURANCE CO.In financial trading, a "bearish bat" is a specific pattern identified within the field of technical analysis. It's considered a harmonic pattern, which means it's based on geometric price patterns found in the market. The bearish bat pattern consists of four price moves, which form specific Fibonacci ratios. These moves are labeled XA, AB, BC, and CD. The pattern suggests potential bearish reversal opportunities. The main characteristics of a bearish bat pattern include: 1. **Initial Move (XA)**: This is the first move in the pattern, usually representing the initial impulse in price. 2. **Retracement (AB)**: After the initial move, the price retraces a certain percentage of the XA move. This retracement typically falls within the range of 0.382 to 0.50 Fibonacci retracement of XA. 3. **Extension (BC)**: Following the AB retracement, the price makes a move in the opposite direction, known as BC. This move typically extends beyond the XA move, usually by a ratio of 0.382 to 0.886 Fibonacci extension of AB. 4. **Final Move (CD)**: Finally, the price makes another move against the BC move, forming the CD leg. This move usually retraces a significant portion of the BC move, often ranging from 0.382 to 0.886 Fibonacci retracement of BC. When all these moves align according to specific Fibonacci ratios, traders may identify a potential bearish reversal opportunity. However, as with any technical analysis pattern, it's essential to combine it with other forms of analysis and risk management techniques before making trading decisions.
TADAWUL:8020Short
by B9A-88652-NisarAhmad