tmanuelasorina
Short

ALTERNATIVE BEARISH BAT COMPLETED

FX:AUDCAD   Australian Dollar/Canadian Dollar
127 2 5
AUD/CAD             completed an alternative bearish bat pattern
It dropped.
Reply
Hi,

Just to note on the ALT BAT, your B point needs to be 38.2 or below as by Scotts ruleset. - quoting harmonic trader The B point retracement must be a 0.382 retracement or less of the XA leg. The Alternate Bat utilizes a minimum 2.0BC projection. In addition, the AB=CD pattern within the Alternate Bat is always extended and usually requires a 1.618 AB=CD calculation.


It looks like you have chosen the start of the impulse X so your harmonic fits this scenario, when there is a BAT already present using the structure high.

Analyzing the current pattern, the TBAR has closed above the XAD, BCD and AB=CD.
Due to this there is no trade here just yet as the TBAR skipped through the PRZ, this generally means a continuation..

Thanks for sharing.

snapshot

Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out