Completed Bat Pattern

FX:GBPJPY   British Pound / Japanese Yen
157 6 9
Constructive criticism is welcome.

Comment: T1 Reached.
Trade closed: target reached: T2 Reached.
look the B must close below the 50 % XA fibo ratio.
Rimvydas sanmed02
Thank you. As I'm still learning will take this into consideration.
Rimvydas sanmed02
Hi Sanmed02,

Have checked info Im learning from and its says: The Bat Pattern is similar to Gartley in appearance, but not in measurement. Point B has a smaller retracement of XA of 0.38 or 0.50 (less than 0.618). Please correct me if I'm wrong.

sanmed02 Rimvydas
I'm learning as well as you, and you are right, I checked back and I found as you mentioned Point B has retracement of XA 0.38 or 0.50. Thank you. Hope the point D respect the 88.6 % of XA to confirm the bat pattern. ;)
good luck mate.
Rimvydas sanmed02
Thanks, good luck to you as well.
Rimvydas sanmed02
And 1 more View :))

:The Bat Pattern
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 is extended and usually requires a 1.27AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.
+1 Reply
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