Bearish Bat At Entry Point! AUDUSD

FX:AUDUSD   Australian Dollar / U.S. Dollar
A bit late posting this but it's not late to enter.

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Great call. Possible of another short ?
Yes the first target has been hit
i think id draw the BC from from the highs at 0:00 rather than the way u drew it. that way we have a nice lineup with the 2.618 extention of the BC leg at the 886. but the entry is ofc stillt he same. nice spot
JoMarshall SergeantPringles
If you do it that day you wouldn't get the 50% retracement and hence it wouldn't be a bat pattern
well a bat pattern is also valid at the 38.2
thats the guy that orginally published the bat pattern. but i also know that there are ppl out there that only trade the 0.5 and why not, if it works for you.
JoMarshall SergeantPringles
I guess it all depends on what you backtested, I backtested 50% and that's how I will always trade it. But people trade it differently and that's ok with me
basicly yup.
meku.tambu SergeantPringles
Scott Carney the founder of states in his book harmonic trading vol 1 that ideal/perfect bat pattern has 50% retracement
+1 Reply
true, he acknowledges the 38.2 retracment as a possible retracment level too tho. he even later published another pattern that only uses the 38.2 and looks for a 113 XA extention completion point, the alt bat.
+1 Reply
JoMarshall SergeantPringles
Interesting facts, thanks for sharing
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