yes you are right mate. I actually use fib ratios which result in advanced pattern. As you see 127.2 is coinciding with 0.886 which is one of the conditions for bat.
Alexander_Nikitin
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Go short on gbpusd. Stretch fibs from C to E and sell 0,618. We have a high probability of this 15min candle to close below B))
Alexander_Nikitin
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EverythingForex
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At the risk of disagreeing with the "Bat King", if you call that a bat, it's not a strong bat as prices closed beyond the 50% retrace. In such a case, I personally prefer to call it a crab. If prices had not closed beyond the 50% retrace, I'd also call it a bat until it's not.
EverythingForex
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But overall, I agree with both of you as to the general direction to go LONG on this pair and probably pretty soon.....
Alexander_Nikitin
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I treat everything as a BAT if B-point passes 50 and doesn't touch 61,8. Crabs must have a 61,8 B-retracement but (unlike Gartlies) they fail having 61,8 retracemnt at C.
EverythingForex
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Fair enough. No harm in seeing a bat that way. Someone (if you haven't already) should do a back test on success rate of bats that touch but don't close beyond 50% and ones that close between 50% and 61.8%.
As for crabs, I just go with Mr. Carney's ratios where crab B point can be between .382 and .618. I also tend more towards crabs than I do bats (as might be seen on my posts). Maybe cause they taste a lot better! ;-P
Anyway, I'm holding out for the cypher.
Alexander_Nikitin
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Crabs are nice because of risk to reward. )) By the way have anybody seen a nice bull gartley completion on audusd 60? It triggered selling usd)
EverythingForex
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Yeah, I caught that one but didn't post about it. Not enough time to post and trade! But I am looking at a nice bearish cypher that may set up soon on AUDUSD. See how this Gartley plays out though.....apologies again, Yodha!