Google - Sell this Bat pattern?
Hey guys, google or Alphabet is gonna report their earnings next week.
With the S&P at a critical resistance, and a bearish bat(blue) on the daily chart of google, I expect a less than stellar earnings report from them.
If you decide to go short, do it before Jan 25th around current market price with your stop loss around 825.
Hopefully, a bad earnings report can kick start a correction for google back to 680 where Harmonic traders can go long on a bat pattern.
I do not try to predict news, I only trade based on Harmonic patterns and vanilla support and resistance.
If the earnings report comes out fantastic, price will breakout to the upside and this pattern will fail and hit your stop loss.
I will then continue to buy upon any retracement to this resistance turn support zone at 815.
With the S&P at a critical resistance, and a bearish bat(blue) on the daily chart of google, I expect a less than stellar earnings report from them.
If you decide to go short, do it before Jan 25th around current market price with your stop loss around 825.
Hopefully, a bad earnings report can kick start a correction for google back to 680 where Harmonic traders can go long on a bat pattern.
I do not try to predict news, I only trade based on Harmonic patterns and vanilla support and resistance.
If the earnings report comes out fantastic, price will breakout to the upside and this pattern will fail and hit your stop loss.
I will then continue to buy upon any retracement to this resistance turn support zone at 815.
