Hi Alex, guess I forgot to explain the Red Arrow.. atm I mentioned the pattern is only "Potential" coz price has not yet reach Point D to complete the Pattern. The red arrow is basically trying to indicate price to move down to Point D and form a complete pattern, thn there maybe a chance to have long entry base on the completed pattern. Hope this clarify... Sorry for the confusing =) Have a good day!
I was trying to remember a Bat or even Crab pattern where
C is higher than A, and then, I figured you meant to say Shark
Here's an interesting page for such a pattern. http://www.trade-forex-harmonic-patterns.com/harmonic-trading-tips-shark.html
Thanks for your thoughts !
sorry but that misses the point configuration, and c can not be higher than the point, I think you're doing a little too much confusion, it is best that you go to the site to control you exactly how it works
sorry but that misses the point configuration, and c can not be higher than point A I think you're doing a little too much confusion, it is best that you go to the site to control you exactly how it works
Hi guys.. thanks for the reply. Agree that it is not a Bat Pattern.. Guess I put up wrongly. Sorry for creating all the confusion. I will make changes on it. Thanks for letting me know.. Have a good weekend.. =)
just further to the ratios. there is an alternative way to draw the bat pattern: http://www.fxgroundworks.com/alternative-bat-pattern/ but for the classical pattern your right it can't exceed. in the alternative bat the D point is higher but I don't believe the gains are that much better statistically over the classic pattern.