Hi Akil! Do you have a sheet over the different patterns... cause I would not even call this "pattern" anything. I trade with the C-leg always around the 88.6 fib for having a valid pattern. But maybe other patterns have been backtested as been valid. Thanks!
But yeah, I'm sure a trader could have backtested this scenerio and found positive results and thats why i try and always say "per my rules" I never want to say that someone is wrong unless I'm working with them personally
I agree with Akil. Bat is my opinion, 0.5 retracement but cannot touch 0.618 and c leg retracement must touch 0.618. But as Akil said, if you tested it and it works go for it. But i stay out of this trade.
The meaning I get from price action is either just a abcd move into structural resistens or a 1.618 ext. that could make a possible higher high and a possible trend change. But it's all in the future.. still in the blur zone what going to happen