JoMarshall
Short

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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nl88 PRO
9 months ago
Thanks for the chart ! Learning how to trade with your method ! :D
+2 Reply
JoMarshall nl88
9 months ago
You're welcome
Reply
RJHumphries PRO
9 months ago
its a cheeky little one. Nice
+1 Reply
JoMarshall RJHumphries
9 months ago
Yep! let's see if the market will be kind to us
Reply
RJHumphries PRO JoMarshall
9 months ago
could that have been any closer to the target??!!? I JUST missed out, twice!
Reply
SergeantPringles
9 months ago
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
Reply
JoMarshall SergeantPringles
9 months ago
If you do it that day you wouldn't get the 50% retracement and hence it wouldn't be a bat pattern
Reply
SergeantPringles JoMarshall
9 months ago
well a bat pattern is also valid at the 38.2
http://www.harmonictrader.com/price_patternsbat.htm
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.
Reply
JoMarshall SergeantPringles
9 months ago
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
Reply
SergeantPringles JoMarshall
9 months ago
basicly yup.
Reply
meku.tambu SergeantPringles
9 months ago
Scott Carney the founder of harmonictrader.com states in his book harmonic trading vol 1 that ideal/perfect bat pattern has 50% retracement
+1 Reply
SergeantPringles meku.tambu
9 months ago
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
9 months ago
Interesting facts, thanks for sharing
Reply
SergeantPringles JoMarshall
9 months ago
here an example of the alt bat.
snapshot

pretty much turned right in the PRZ. ofc u can also find other patterns in there such as cypher shark and normal bat. but thats often the case. cypher and shark obvsly worked as well. the normal bat not such much.
Reply
nl88 PRO
9 months ago
Great call. Possible of another short ?
Reply
JoMarshall nl88
9 months ago
Yes the first target has been hit
Reply
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