Hi TradingView community! Here we have a bearish bat pattern on EUR/USD visible on the 4 hour chart. Conditions for a valid bat pattern are:
AB leg can retrace between 0.382 – 0.5 of XA leg
BC leg can retrace between 0.382 – 0.886 of AB leg
CD leg can retrace up to 0.886 of XA leg
CD leg can also be an extension of between 1.618 – 2.618 of AB leg
Trade management: Take profit is set at 0.382 and 0.618 retracements of AD. At target 1, half position will be closed and the stop loss moved to breakeven. Good luck!