Cryptsyxalt

Bullish Bat Pattern (15M)

Long
FX:EURUSD   Euro / U.S. Dollar
The Bat Pattern , is a precise harmonic pattern discovered by Scott Carney in 2001

The pattern incorporates the 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ).

The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The Bat utilizes a minimum 1.618BC projection.

In addition, the AB=CD pattern within the Bat pattern is extended and usually requires a 1.27 AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.
Comment:
Position size = 3.2 Lots = $32 per pip
3.1 pip Stop Loss = $99.2 Total risk

Closed 50% of position at 2R = $99.2 profit secured (1R)
$44.6 risk remaining

Closed 50% of position at 4R = $99.2 profit secured (2R)
$22.3 risk remaining

Closed 50% at 8R = $99.2 profit secured (3R)
$11.15 risk remaining

Closed 50% at 16R = $99.2 profit secured (4R)
$5.57 risk remaining


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