But it's great to have some interaction here with some other minds. So thank you for the comments.
Doji, I am in complete agreement with you. I once heard it said the Markets are is like a woman - you get nowhere telling a woman what to do, but rather by listening to her.
KPEI, some would argue that this is a bat, and trade it anyway - placing stops below x for a not so bad rvr with tp1 at b. I see it all the time. Yes, XA final doesn't hit .886 to the pip, but doesn't exceed it, either. Combined with bc's ratios, which go beyond 2.618 - for some, they'd go for it anyway with the thinking that nature is not always going to be so cookie-cut.
But beyond (or in addition to) the ratios, the 3 main characteristics (for me), is each segment needs to posses at least 7 bars, and the pa into X & D should be impulsive. Lacking any of these, but having near the pip ratios, the structure (in my view), is not that great.
Trading often reminds me of faith & religion. There are always going to be a truck load of doctrines, approaches, teachings, etc. meant to get you to the "promised land". Dogma does exist in the trading world. I hope that didn't come across as such :)
And as Doji has wished me already twice today. May you be blessed with more pips than you can imagine in 2014.
The ratios are not really there, at least not very close to classic numbers.
#2 A bat pattern -- is not -- a bat pattern until it completes at the .886, right ?
Until then it is something else. At best it is -- the possibility -- of a bat pattern.
In other words I would not condemn a pattern simply because the market
has done something other than your expectations. Remember, the market is
never on the wrong side of you and your trade ~~~~ you are on the wrong
side of the market. Another way of saying this:
The market is never wrong --- you are on the wrong side of the market !
Hope you make lots of pips in 2014 !!! (finding ways of being with the market)
You ~~~~ As A Trader ~~~~~ not you specifically as a person !
The day I heard someone say that in a webinar is the day I started
making more pips than I lost.
I had to think about it for a while but, when I realized it is true,
it made a big impact on my trading psychology and consistency
of positive trading results.
Up until that point I was always wondering why the market was not honoring
my "brilliant analysis". lol
So ! To repeat myself again:
Trading is not hoping the market will give me what I want,
instead, it is trying our best to figure out what the market
has the highest probability of doing next and being there
to participate if/when it does.
Hope that clarified my thoughts or did it just
confused the issue, thrice ?