TomHall

EUR/USD - BAT PATTERN

FX:EURUSD   Euro Fx/U.S. Dollar
EUR/USD - 4H Chart - Bat Pattern


Here on the 4h chart of EUR/USD             we have nice Bat Pattern setup.

We have to be cognizant of the Greece situation, however it shouldn't effect our trading plan.
Due to expected volatility a sell limit order will be set closer to the D leg completion.

We must see a completion at D leg ( 1.123 ) before any short entry is triggered.

- SL must go above X
- Target 1 at 38.2% retracement
- Target 2 at 61.8% retracement

Good luck.
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bilk29
a year ago
thanks
+1 Reply
TomHall TOP bilk29
a year ago
No problem at all.
Reply
Tom, this looks good. Good pickup.
+1 Reply
TomHall TOP EverythingForex
a year ago
Thanks very much. Hopefully a completion into early next week.
Reply
Marvin
a year ago
But for a bat the min ext of the BC retracement is 1.618?
Reply
TomHall TOP Marvin
a year ago
Hi,
Many traders trade their patterns with different ratio's, I personally don't give out the ratio's i use unless i am teaching them.
If you have the 1.618 in your plan trade that ratio.
If you should need any extra help shoot me a PM.
+1 Reply
EverythingForex PRO TomHall
a year ago
I don't know about other trader's but I stick with the tried and true ratios as given by the Scott Carney's books on harmonics. Sure. There are many, many other harmonic patterns out there now whose ratios are close to the classic bat (Anti Alt Bat, Alt Bat, A Bat, etc., etc.) but if you are trading harmonics because you heard they have a really good success percentage (60+%), then you gotta trade according to the proper ratios. If you don't, then don't expect that winning percentage. All the historical backtesting is done on those ratios.
+1 Reply
EverythingForex PRO Marvin
a year ago
Yes. It is. Here you go.....
snapshot
+1 Reply
EverythingForex PRO EverythingForex
a year ago
If you have the other fib proportions correct for the bat, the BC extensions will fall into line.
+1 Reply
TomHall TOP EverythingForex
a year ago
That's it, If you have back tested your ratio's it should all work out for you.
I wish you the best,
Reply
petermp25 Marvin
a year ago
If the BC Leg is ~38.2 of AB then CD has to be 161.8 of AB, if BC is ~88.6, then CD has to be 261.8 of AB
Reply
TomHall TOP petermp25
a year ago
Hi,
For me the ratio's have to be deeper than your's above.
I don't go into detail on the ratio's i use for any of my patterns due to only teaching my students these intricate details.
Reply
petermp25 TomHall
a year ago
Fair enough, but I guess we did get 'close' to the same D point
snapshot
Reply
TomHall TOP petermp25
a year ago
Very close yes, but in my plan it has to be on the D leg or i cant trade it.
I have to be strict on my entry.
Reply
Nice one, waiting on this myself too.
+1 Reply
TomHall TOP Akil_Stokes
a year ago
Best of luck.
I also would like to say what great work you do online.
I don't manage to keep up with much content due to being busy, but certainly your the guy driving useful knowledge to the wider audience.
Keep up the great work.
+1 Reply
Akil_Stokes TOP TomHall
a year ago
Thanks, yeah it's certainly difficult to trade and provide content so i feel you. If I can get a single post up here a day I'm happy. have a great weekend man!
Reply
TomHall TOP Akil_Stokes
a year ago
Your doing a great job of juggling the both.
You also, take care.
Reply
FullTimeTrader
a year ago
hello, nice bat, i found another one wich is confluent with my D1 bias of a triangle. Wich one will work? its always a dilemma when trading harmonic patterns because the market is fractal and the fib ratios are happening at the same time on all timeframes...

EURUSD-trading the triangle-bearish bat
+1 Reply
TomHall TOP FullTimeTrader
a year ago
Hi,
For me personally it all depends on how aggressive the price enters your price reversal zone.
If for example the market its creeping up and its also making bearish divergence on the RSI, then i am looking then for more confluence as to why i should short it.
If however the price has a huge bullish candle in your potential price reversal zone then i would hold off and await for more solid conformation.
I hope this helps a little.
Reply
IvanLabrie PRO TomHall
a year ago
I think this one is more probable.
The momentum will look off for a bearish triangle if it hits the alt bat high.
+1 Reply
TomHall TOP IvanLabrie
a year ago
We will have to wait and see into early next week now i think.
Reply
FullTimeTrader TomHall
a year ago
Thanks for sharing your ideas, i agree CONFLUENCE is the key, personally i use harmonic in confluence with elliot waves and strong levels of S/R at higher TF. On my setup i have a D1 trendline resistance and the EW rule that wave E cannot go beyond wave C.
Reply
TomHall TOP FullTimeTrader
a year ago
No problem at all.
I don't personally trade elliot waves, i am more of a harmonic, pattern and S/R trader.
Reply
IvanLabrie PRO TomHall
a year ago
snapshot


If that rsi trendline is broken, it might go higher.
+1 Reply
TomHall TOP IvanLabrie
a year ago
Nice setup mate.
Reply
ChartArt
a year ago
If everybody thinks it is a bearish bat pattern, then it won't play out as a bearish bat pattern ... :)

EURUSD: Potential Bearish Bat Pattern


EURUSD-trading the triangle-bearish bat
Reply
PriceActionTrading ChartArt
a year ago
One of the best comment. This one trader right here will make money!
Reply
Don_Corleone PRO PriceActionTrading
a year ago
True
Reply
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