If the Bat completes at point D, reversal targets are at .382 and .618 of the distance XA. (See chart in comments for recent example) ... If the completes, targets are .382 and .618 of the distance XC. For more detailed information on bat patterns go here: http://www.harmonictrader.com/price_patternsbat.htm ... For more on Cyphers, go here: https://youtu.be/Tc8ORH2ox0A
Target level for trading the symmetrical triangle is drawn from the the first touch on the lower line to the top of the upper line, then that distance is taken as a measured move from where price breaks out of the pattern. In this instance, that would be around the $180 level. ... For more on Symmetrical Triangle patterns, see here: http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:symmetrical_triangle_continuation
We've had some real strong opportunities lately and to a one, they've rotted on the vine. On May 4th, the first hedge fund ( GBTC ) went live, trading hundreds over market price for the equivalent of 1 , with 1 share being equal to .1 . The week of trading which preceded the launch saw only a $19 move up in price. Week of the launch, saw an over-all price decline. We've also now seen a Swedish ETN launch with little to no major movement in market price. Instead, what we're seeing is price beginning to steadily slump.
The pattern becomes invalid once price extends beyond 'X' and stop should be placed just below around $214.87, based on your acceptable level of risk.