EURAUD-big bearish bat

FX:EURAUD   Euro Fx/Australian Dollar
263 5 3
Seems like this pair wants to make one more push higher, in this case this pattern should work well.
Best regards
Bats work much better if B-point at least touches 0,5XA
FullTimeTrader Alexander_Nikitin
2 years ago
Hello, thats fine, some trades used different rules, im using this ones:
Alexander_Nikitin TOP FullTimeTrader
2 years ago
If you backtest bats you'll find that 0,382-0,618 B-point ratio has 53% of success while 0,5-0,618 B-point ratio has 66%. Including 0,382-0,499 B-point ratio to your trading plan you are throwing 13% of profitability away. I respect Scott Carney as a founder of Bat and Harmonic trading but his ratios are not ideal. The research of advanced patterns made by T2 University allowed to optimize ratios to improve pattern's profitability. Tradeempowered and DCAST Capital use these ratios. Remember that before Scott Carney B-point ratio of 0,382-0,786 was thought to be a Gartley pattern. These ratios were introduced by Larry Pasavento. Time goes by and patterns are optimized. But I would strongly recommend you to do backtesting manually by yourself. Just backtest that kind of Bats that has 0,382-0,499XA B-point ratio and you'll find this kind has negative expectancy. That's why this specific kind of Bats lowers the general profitability of the pattern. Check these Rules of Engagement:
FullTimeTrader Alexander_Nikitin
2 years ago
Thanks for the information and the pdf, i was a fan of T2 university, ive started learning harmonics with them. I will study the pdf and consider this in the future.......
+1 Reply
Alexander_Nikitin TOP FullTimeTrader
2 years ago
cheers, mate. i like that your mind is open for learning. it's a usuful quality for a trader.
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