"Batley Pattern" completion in GBP.CHF 4h chart. However we have to be cautious of this one, because we had a reaction at the .786 level in combination with the first AB=CD already. So hopefully we will get the second reaction at the second AB=CD in combination with the .886 level. This one is a kind of mixture between a Gartley and and Bat, i.e. a "Batley Pattern" ... ;-)
Comments
Night_Trader
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Wow that was close! But I am still in it! Let's see what happens now.
ColeNed1
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This is not a mixture of a gartley and bat pattern. The bat pattern has a b point between a 0.382 and a 0.50. the gartley pattern has a higher b point at a 61.8. There was no gartley, just the bat... just wanted to take away that confusion
Night_Trader
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Because the B point is not in the 0.5 range, but higher it is not a bat pattern either ! In a very strict way it is neither a (Carney-) Gartley nor a Bat. Therefore I said Batley.
This "Batley" name was kind of a joke (!) and no need to be confused.
Again in a strict Scott Carney way this is neither a Bat nor a Gartley. But I am not following Carney s definitions to the point (!!) and I do not follow his trading rules either (targets and RSI etc...).